We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • $USDJPY Daily Pivot Points: S3: 107.85 S2: 109.42 S1: 110.4 R1: 111.97 R2: 112.57 R3: 114.14 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @iv_technicals: Remember 2007? (via @hmeisler) https://t.co/uBcHysanRT
  • Hubei province reports 349 new coronavirus cases after guideline revisions - 108 new deaths - BBG
  • RT @TaviCosta: Ominous. FX vol just reached its lowest in 28 years. Similar levels preceded major downturns: Asian Crisis, Great Recessio…
  • $AUDUSD hovers near decade lows as coronavirus fallout batters the Australian Dollar, but the Aussie now looks to monthly employment data due Thursday, February 20 at 00:30 GMT and subsequent changes in RBA rate cut bets. Full analysis via @DailyFX below: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/02/19/audusd-forecast-aussie-dollar-eyes-australian-jobs-data-rba.html
  • The #Dow Jones approaches the famed 30,000 mark as bullishness continues. Similarly, the S&P 500 nears 3,400. Get your #equity market update from @PeterHanksFX here: https://t.co/NtGl63wNf1 https://t.co/aooktssNeV
  • Precious Metals Update: #Gold 1,611,55 (-0.01%), #Aluminum 1,720.00 (-0.06%), and #Copper 5,773.00 (-0.67%) [delayed]
  • ❗Heads Up Traders❗ Will be covering the Australian jobs report in 2 hours. $AUDUSD can't quite break under support and now there is ominous positive RSI divergence. Will a better-than-expected outcome be the turning point? #AUD $AUDJPY $AUDNZD #AUDCAD - https://www.dailyfx.com/webinars/475271731?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/V8P6Q2WpPq
  • Yes, that was quite the surge in $USDJPY today. Just a reminder that using my majors-based #Yen index, the dominant uptrend is still in play via rising support from 2018. There was a break under the near-term rising trend line which may take JPY down to lows from DEC & JAN https://t.co/N2fXmKEfep
  • When carry flows trump sentiment🤷‍♂️ https://t.co/UT8ucpiCPS
Crude Oil Rises on Bargain Buying, Gold’s Fate In the Hands of Investors

Crude Oil Rises on Bargain Buying, Gold’s Fate In the Hands of Investors

2010-07-30 08:41:00
Ilya Spivak, Sumit Roy,
Share:

Commodities - Energy

Crude Oil Rises on Bargain Buying

Crude Oil (WTI) $78.12 -$0.24 -0.28%

Commentary: Oil rose $1.37, or 1.78% on Thursday, as traders used the recent sell-off as an opportunity to buy. After the bearish inventory report on Wednesday, prices may find it hard to advance further. A bit of consolidation is possible under the recent double top resistance area. In the event next week’s report is bullish or at the very least neutral, prices should approach $80; but that remains to be seen.

Technical Outlook: Prices found support at $75.81, the 23.6% Fibonacci retracement of the 5/20-6/28 upswing. Near-term resistance lines up in the $79.38-80.00 region, with a break above that exposing top of a rising channel established since May, now at $81.95.

euro_comm_073010_body_Picture_1.png, Crude Oil Rises on Bargain Buying, Gold’s Fate In the Hands of Investors

Commodities - Metals

Gold’s Fate In the Hands of Investors

Gold $1166.73 -$1.52 -0.13%

Commentary: Gold rebounded for the second day on Thursday, rising $4.65, or 0.40%. The big story in gold continues to be the liquidation by gold ETF investors. The fate of gold prices rests in the hands of these investors. Should liquidation continue, look for continued losses. Otherwise, prices could rebound a bit. We are leaning toward the continued liquidation scenario, but remain on the sidelines rather than short.

Technical Outlook: Prices pulled up from support at the bottom of a falling channel established from the swing high in June to re-test the $1170.00 figure. Continued buying opens the door for a re-test of support-turned-resistance at a rising trend line established from the low in February, now at $1192.01.

Silver $17.60 +$0.00 +0.00%

Commentary: Silver bounced on the back or rising gold prices, increasing $0.13, or 0.74%. As gold goes, so goes silver.

Technical Outlook: Unchanged: “Prices continue to consolidate within a descending triangle chart formation above support at $17.45. This setup is typically a continuation pattern, hinting further gains ahead. That said, it also carries a negative connotation and may hint at an emerging bearish bias. A break below support exposes at the $17.00 figure, while a rebound sees initial resistance at $18.57.

euro_comm_073010_body_Picture_4.png, Crude Oil Rises on Bargain Buying, Gold’s Fate In the Hands of Investors

For real time news and analysis, please visit http://www.dailyfx.com/real_time_news

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.