News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
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
Wall Street
Bearish
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
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Bearish
More View more
Real Time News
  • #Gold prices have come under significant pressure to kick-off 2021. However, the formation of bullish technical patterns across multiple timeframes suggests that a rebound higher may be at hand. Get your market update from @DanielGMoss here: https://t.co/Dpf8N4Fh0T https://t.co/pnZpnM9yT5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/yCtLFemdNc
  • GBP underpinned as BoE downplays negative rates, alongside vaccine rollout. Get your market update from @JMcQueenFX here: https://t.co/n6V6uw0XV5 https://t.co/Toq2fxSdBE
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/5VzSt5Ak7R
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/Jkv0onMyZw
  • Why is JPY called a safe haven? What are some factors in its favor this quarter? Get your free forecast here: https://t.co/mzeJ5x73N3 #DailyFXGuides https://t.co/S4bwgGZxmw
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/T3W8CIg5iy
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/FPgZ5gkgrM
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/E0KhcKHrOf
  • For some reason an old story has popped up - many apologies.... https://t.co/jHjQxyFRXM
Crude Oil Prices May Turn Lower as Risk Appetite Unravels

Crude Oil Prices May Turn Lower as Risk Appetite Unravels

2016-06-09 08:20:00
Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Crude oil prices rise for third day, hit highest in over 11 months
  • Gold prices strongest in 3 weeks as rally resumes after brief pause
  • Quiet data docket set to put risk appetite trends at the forefront

Gold prices surged as US bond yields edged lower, implying that deteriorating Fed rate hike expectations may have bolstered the relative appeal of anti-fiat and non-interest-bearing assets. Crude oil prices likewise traded higher, bolstered by a recovery in risk appetite as well as a larger-than-expected weekly inventory drawdown reported by the EIA.

Looking ahead, a quiet economic data docket is likely to keep sentiment trends in the driver’s seat. S&P 500 futures are pointing decidedly lower ahead of the opening bell on Wall Street, hinting at a risk-off mood. That may bode ill for the sentiment-linked WTI contract. Meanwhile, gold may remain well-supported if haven flows boost bonds and keep benchmark yields under pressure.

Track short-term gold and oil chart patterns with the DailyFX GSI indicator!

GOLD TECHNICAL ANALYSISGold prices resumed their advance after a brief period of consolidation, hitting the highest level in three weeks. A daily close above the 1262.60-62.55 area (23.6% Fibonacci expansion, horizontal pivot) exposes the 38.2% level at 1297.14. Alternatively, a move back below the 14.6% Fib at 1236.85 pave the way for a retest of the May 30 low at 1199.55.

Crude Oil Prices May Turn Lower as Risk Appetite Unravels

CRUDE OIL TECHNICAL ANALYSISCrude oil prices continued to push higher, rising to the highest level July 2015. From here, a daily close above the 38.2% Fibonacci expansion at 53.44 exposes the 50% level at 55.21. Alternatively, a move back below the 23.6% Fib at 51.26 targets the 14.6% expansion at 49.91.

Crude Oil Prices May Turn Lower as Risk Appetite Unravels

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

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES