USDOLLAR Starts The Year Positively

  • USDOLLAR
    (${instrument.percentChange}%)

Strong Start on Daily

FXCM's USDOLLAR basket started the new year off positively. The daily chart below shows a long blue candle, suggesting conviction by the bulls. Moreover, the price has moved out of the weak area, between the lower blue and lower red bands. The progress into the neutral region, between the blue bands, is considered a bullish development. It will be interesting to see if the USDOLLAR can end the week in the bullish region, between the upper blue and upper red bands.


Past Performance: Past Performance is not an indicator of future results.

Weekly Potential Higher Trough

The FXCM USDOLLAR basket weekly chart shows a higher trough followed by a higher peak (HT>T; HP>P). This is the classical definition of an uptrend. Since the higher peak was charted, the USDOLLAR has pulled back to its 38.2% Fibonacci level. This level looks to be providing support, and the next higher trough (HT?) in the series may be charting. Whilst not guaranteed, a weekly close above the aqua horizontal will give credibility to this scenario.


Past Performance: Past Performance is not an indicator of future results.

Trade the News: View our Economic Calendar

Featured Image by NikolayFrolochkin from Pixabay

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

Why Trade with FXCM

Commission free with fast, efficient execution.

Most Popular Shares AU Shares Forex Stock Baskets Forex Baskets Cryptocurrencies Indices Commodities

Most Popular

Shares

AU Shares

Forex

Baskets

Baskets

Cryptocurrencies

Indices

Commodities

Most Popular

Shares

AU Shares

Forex

Stock Baskets

Forex Baskets

Cryptocurrencies

Indices

Commodities

Most Popular

Shares

AU Shares

Forex

Stock Baskets

Forex Baskets

Cryptocurrencies

Indices

Commodities

Instrument Price 24h %
${instrument.name} ${instrument.name} ${instrument.bid} ${instrument.percentChange}%
${instrument.name} ${instrument.name}
${instrument.bid}
${instrument.percentChange}%
${instrument.oneYearLow} ${instrument.oneYearHigh}

Last Updated: ${lastUpdated}

Disclosure

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.

Past Performance: Past Performance is not an indicator of future results.

Spreads Widget: When static spreads are displayed, the figures reflect a time-stamped snapshot as of when the market closes. Spreads are variable and are subject to delay. Single Share prices are subject to a 15 minute delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.

${getInstrumentData.name} / ${getInstrumentData.ticker} /

Exchange: ${getInstrumentData.exchange}

${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)

${getInstrumentData.oneYearLow} 52/wk Range ${getInstrumentData.oneYearHigh}