The Dollar

The dollar printed a bearish reversal on Friday. 

USD

Friday was day 8 for the dollar’s daily cycle.   Friday’s bearish reversal eases the parameters for forming a daily swing high.  A break below 98.15 will form a swing high.  Then a close below the converging 10 day MA and 50 day MA will confirm the daily cycle decline.  A peak on day 8 sets up a left translated daily cycle formation.  The dollar is in a daily uptrend.  It will remain so unless it closes below the lower daily cycle band. 

 

Stocks

After a brief decline into the day 34 pivot, which allowed the 10 MA to catch up to price, stocks have rallied higher.   

SPX

Friday was day 40 for the daily equity cycle, placing stocks deep in their timing band for a daily cycle low.  Stocks did form a swing high on Friday.  Stocks will need to close below the 10 day MA to signal the daily cycle decline.  Stocks are in a daily uptrend.   If stocks form a swing low above the lower daily cycle band then stocks will remain in their daily uptrend and trigger a cycle band buy signal.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Analysis feed

Latest Forex Analysis

Editors’ Picks

Bears ignore Aussie holidays, cheer coronavirus news at fresh multi-week low near 0.6815

AUD/USD drops to 0.6814, with an intra-day low of 0.6811, during the early Monday morning in Asia. The fears of China’s coronavirus outbreak are dominating the market’s risk sentiment off-late.

AUD/USD News

USD/JPY: Coronavirus bearish gap breaks below 109

USD/JPY has dropped heavily in the open, breaking below the 109 handle to print a fresh low of 108.88 as traders prepare for a risk-off week when considering the implications of the Coronavirus. 

USD/JPY News

Are you anxious about Coronavirus? Well, so are the markets

There's so much we don't know about Coronavirus, which increases the level of concern from public health officials, you & I as well as the markets and we can expect a risk-off start to the week ahead of a pretty major schedule.

Read more

Gold kick-starts the week with bullish gap-up to $1589 as coronavirus fuels risk aversion

Gold prices remain positive while taking rounds to $1,583, following the intra-day high of $1588.70 flashed at the week’s start. The yellow metal recently benefited from fears of China’s coronavirus outbreak.

Gold News

GBP/USD: 50-day SMA, 61.8% Fibonacci question sellers

Cable stays weak while declining to the intra-day low of 1.3068 by the press time of Monday’s Asian session. The pair registers 3 days losing streak while also forming a lower high pattern if observed its moves from Dec 2019 top.

GBP/USD News

Forex Majors

Cryptocurrencies

Signatures