Forex Analysis: US Dollar, S&P 500 Stuck as Risk Trends Lack Direction

  • SPAD suspends permits of 27 Transnasional express buses – Bernama
    SPAD suspends permits of 27 Transnasional express buses – Bernama

    The Land Public Transport Commission (SPAD) is suspending the permits of 27 Transnasional express buses plying the East-North Sector effective Wednesday following accidents involving buses of the company. SPAD chief executive officer Mohd Nur Ismal Mohamed Kamal in a statement today said the decision was taken after audits found the company... …

  • High Court upholds conviction, sentence of police sergeants – Bernama

    The Kuala Lumpur High Court today dismissed the appeal by two police sergeants to overturn their conviction for assaulting two detainees six years ago.  Judge Amelia Tee Hong Geok Abdullah also upheld the four-year jail sentence meted out on Sergeants Mohd Shafiee Abdul Halim, 51, and Mohd Diah Sulaiman, 51, from the Brickfields police... …

  • Meeting Obama would have been helpful, says Anwar
    Meeting Obama would have been helpful, says Anwar

    Opposition leader Datuk Seri Anwar Ibrahim (pic) said today a meeting with US President Barack Obama during a coming visit to Malaysia would have been "consistent with US democratic ideals", after Washington said there would be no such encounter. But Anwar, who was convicted of sodomy in March and whose opposition is engaged in a fierce... …

  • Families of MH370 passengers reject ‘high-level’ meeting, want technical experts – Bernama
    Families of MH370 passengers reject ‘high-level’ meeting, want technical experts – Bernama

    A high-level delegation, comprising government representatives and Malaysia Airlines management officials, is expected to arrive in Beijing to meet with the next of kin of passengers onboard the missing flight MH370, within the next 24 to 48 hours. "The team will meet the families face-to-face to discuss their plan to move forward on this... …

  • EC to hold meeting on Bukit Gelugor seat – Bernama
    EC to hold meeting on Bukit Gelugor seat – Bernama

    The Election Commission (EC) will hold a special meeting to discuss the Bukit Gelugor parliamentary seat in Penang this Thursday.     EC secretary Datuk Abdul Ghani Salleh said it received notification from the Speaker of Dewan Rakyat at 11am today on the vacant Bukit Gelugor seat following the death of its MP, Karpal Singh (pic).     The... …

  • Transfer not voluntary, Albukhary university gave us ultimatum, says student
    Transfer not voluntary, Albukhary university gave us ultimatum, says student

    The pending closure of Malaysian tycoon Tan Sri Syed Mokhtar Albukhary's full-scholarship university in Kedah has taken on another twist with a student refuting the university's claim that the transfer of students to other institutions was on a "voluntary" basis. He said the Albukhary International University (AIU) had not given students much... …

THE TAKEAWAY: The US Dollar and S&P 500 are drifting near familiar technical levels as risk sentiment trends struggle to find a clear-cut directional bias.

US DOLLAR TECHNICAL ANALYSIS Prices after turning lower from resistance at the top of a rising channel set from mid-September, taking out near-term support at smaller channel bottom to expose the 50% Fibonacci retracement at 10038. A further push below that aims for the 61.8% level at 10009. Near-term resistance is at 10066, the 38.2% retracement, followed by the channel bottom at 10101.

Forex_Analysis_US_Dollar_SP_500_Stuck_as_Risk_Trends_Lack_Direction_body_Picture_4.png, Forex Analysis: US Dollar, S&P 500 Stuck as Risk Trends Lack Direction

Daily Chart - Created Using FXCM Marketscope 2.0

S&P 500 TECHNICAL ANALYSIS – Prices continue to stall below resistance at 1474.90, the September 14 high. A break upward targets the 100% Fibonacci expansion at 1459.70. Near-term support is at 1470.40, the 76.4% expansion, with a turn back below that targeting the 61.8% level at 1454.50.

Forex_Analysis_US_Dollar_SP_500_Stuck_as_Risk_Trends_Lack_Direction_body_Picture_3.png, Forex Analysis: US Dollar, S&P 500 Stuck as Risk Trends Lack Direction

Daily Chart - Created Using FXCM Marketscope 2.0

GOLD TECHNICAL ANALYSIS Prices took out resistance at 1674.78, the 38.2% Fibonacci retracement, a barrier reinforced by a falling trend line set from the November 23 high. Buyers now aim to challenge the 50% Fib at 1689.95, with a push above that targeting the 61.8% level at 1705.11. The 1674.78 level has been recast as support. A turn back below that eyes the November trend line (now at 1669.05) anew.

Forex_Analysis_US_Dollar_SP_500_Stuck_as_Risk_Trends_Lack_Direction_body_Picture_2.png, Forex Analysis: US Dollar, S&P 500 Stuck as Risk Trends Lack Direction

Daily Chart - Created Using FXCM Marketscope 2.0

Want to learn more about RSI? Watch this Video.

CRUDE OIL TECHNICAL ANALYSIS Prices put in a Bearish Engulfing candlestick pattern below support-turned-resistance at 94.61, hinting a move lower is ahead. Support is clustered in the 92.06-93.15 area, with a break below that broadly targeting the 90.00 figure. Alternatively, a break above 94.61 targets a rising channel top at 96.35.

Forex_Analysis_US_Dollar_SP_500_Stuck_as_Risk_Trends_Lack_Direction_body_Picture_1.png, Forex Analysis: US Dollar, S&P 500 Stuck as Risk Trends Lack Direction

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.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • Education Backgrounds OF Those Who Have Been Devising The Education Policies Of Malaysia Easyuni.com
    Education Backgrounds OF Those Who Have Been Devising The Education Policies Of Malaysia

    Malaysia gained its independence in the year 1957 and since its early days laid stress on improving the quality of education at all levels. Throughout its five year plans, education has been an important development objective. Right in the first development plan itself the direct relationship between the rate of economic and social advancement on […] …

  • In funeral procession, thousands chant ‘Karpal Singh! Karpal Singh! Karpal Singh’ (VIDEO) The Malay Mail Online
    In funeral procession, thousands chant ‘Karpal Singh! Karpal Singh! Karpal Singh’ (VIDEO)

    GEORGE TOWN, April 20 — The streets of Penang’s historical city centre roared with the voices of thousands calling out the name of their state’s beloved son — Karpal Singh.  Elbows jostled with... …

  • Raja Bomoh spouting mumbo-jumbo again The Malaysian Insider
    Raja Bomoh spouting mumbo-jumbo again

    Bomoh (shaman) Ibrahim Mat Zin (pic, third left) is in the headlines for the wrong reasons again, this time for conducting a cleansing ritual along KM306.1 of the North-South Expressway. The area has been in the spotlight since last Thursday after Bukit Gelugor MP Karpal Singh died when his Toyota Alphard was involved in a collision with a... …