Forex Analysis: US Dollar, S&P 500 Look for Direction at Familiar Levels

RELATED QUOTES

SymbolPriceChange
^USDOLLAR11,994.03+8.66

THE TAKEAWAY: The US Dollar and the S&P 500 continue to languish in search of directional conviction as prices hover near familiar technical barriers.

US DOLLAR TECHNICAL ANALYSIS Prices are testing resistance at 9982, the 50% Fibonacci retracement, with a break higher targeting a rising channel top at 10012 and the 61.8% level at 10038. Near-term trend line support is at 9949, with a drop below that exposing the 38.2% Fib at 9925.

Forex_Analysis_US_Dollar_SP_500_Look_for_Direction_at_Familiar_Levels_body_Picture_5.png, Forex Analysis: US Dollar, S&P 500 Look for Direction at Familiar Levels

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices are testing support at 1369.40, the 50% Fibonacci retracement level, after taking out the 38.2% level at 1394.30. A break downward exposes the 61.8% Fib at 1344.50. The 1394.30 level has been recast as resistance, with a reversal back above that targeting the 1424.90-30.90 area.

Forex_Analysis_US_Dollar_SP_500_Look_for_Direction_at_Familiar_Levels_body_Picture_6.png, Forex Analysis: US Dollar, S&P 500 Look for Direction at Familiar Levels

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices are testing resistance at 1732.33, the 23.6% Fibonacci retracement. A push above that targets the 1790.55-1802.80 area. Near-term support is at 1693.06, the 38.2% Fib, a barrier reinforced by a rising trend line set from late June (now at 1684.23). A drop beneath the latter level targets the 50% Fib at 1661.32.

Forex_Analysis_US_Dollar_SP_500_Look_for_Direction_at_Familiar_Levels_body_Picture_7.png, Forex Analysis: US Dollar, S&P 500 Look for Direction at Familiar Levels

Daily Chart - Created Using FXCM Marketscope 2.0

Want to learn more about RSI? Watch this Video.

CRUDE OIL TECHNICAL ANALYSIS Prices continue to hover above the 50%Fibonacci expansion at 83.76.A break below that exposes 80.00 figure and the 61.8% level at 7978. Resistance is at 87.66, marked by the 38.2% Fib and a falling trend line set from the September 14 high. A push above that aims for the 90.00 figure and the 23.6% expansion at 92.53.

Forex_Analysis_US_Dollar_SP_500_Look_for_Direction_at_Familiar_Levels_body_Picture_8.png, Forex Analysis: US Dollar, S&P 500 Look for Direction at Familiar Levels

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3772-0.0044-0.32%
    USDSGD=X
    1.5333-0.0053-0.34%
    EURSGD=X
    1.9957-0.025-1.24%
    GBPSGD=X
    80.3957-0.0472-0.06%
    SGDJPY=X
    5.6418+0.0182+0.32%
    SGDHKD=X
    2.9860+0.0088+0.29%
    SGDMYR=X
    9,901.9785+34.7949+0.35%
    SGDIDR=X
    4.7806+0.0174+0.37%
    SGDCNY=X
    0.9955+0.0031+0.32%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,217.60+0.90+0.07%
    GCQ16.CMX
    15.98-0.29-1.78%
    SIN16.CMX
    81.91+2.50+3.15%
    ^XAU
    2.09-0.02-0.92%
    HGN16.CMX
    49.81+0.48+0.97%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.37-0.01
    ^FVX
    1.84-0.01
    ^TNX
    2.64-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.295+0.015+5.36%
    N21.SI
    1.81-0.01-0.28%
    MC0.SI
    6.04-0.01-0.17%
    H78.SI
    1.02+0.01+0.99%
    C22.SI
    0.55+0.02+3.77%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.55+0.10+22.22%
    BQP.SI
    0.165+0.015+10.00%
    K22.SI
    1.65+0.15+10.00%
    BAI.SI
    0.29+0.03+9.43%
    A30.SI
    0.39+0.03+8.33%
    CZ4.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.50-0.09-15.25%
    AYB.SI
    0.435-0.060-12.12%
    AYV.SI
    0.305-0.040-11.59%
    BBP.SI
    0.152-0.019-11.11%
    BEH.SI
    0.285-0.035-10.94%
    S19.SI