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. See our updated Privacy Policy here.

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
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
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/HGWZikGQAa
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/2cQ0JgAfh7
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
  • AUD/USD is likely to face increased volatility over the coming days as it faces a batch of key event risks going into the end of July. Get your Australian Dollar forecast from @DavidJSong here: https://t.co/qFpg0DCxxL https://t.co/quQxg4WBy3
  • The US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:https://t.co/vRUVxvQP8o https://t.co/cUEkW9BfIP
  • Is investing in your favorite brand or buying its products the better financial move? Read the article for a breakdown. https://t.co/iWOlDAK8cD https://t.co/0uS5VvWj12
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/PW5pCw9dKR
  • The Japanese Yen has been making a comeback, but it may soon resume its decline against the US Dollar as USD/JPY consolidates within a bullish Falling Wedge. Watch for a breakout. Get your market update from @ddubrovskyFX here:https://t.co/zxRWoNR4lS https://t.co/bXTx0TSRmU
  • BTC/USD treading water sideways, 28600 the big level to watch. ETH/USD working on forming a nice-looking descending wedge. Get your market update from @PaulRobinsonFX here:https://t.co/H1qOV4FR1P https://t.co/tjutUl7Nt7
  • Gold hasn’t been very active the past few sessions, but that could change next week and provide a stronger trading bias. Get your weekly gold technical forecast from @PaulRobinsonFX here: https://t.co/HaEe3i4Sug https://t.co/LsARS2mnFI
British Pound Looks Dangerously Overstretched - How do We Trade?

British Pound Looks Dangerously Overstretched - How do We Trade?

David Rodriguez, Head of Product
British_Pound_Trading_Strategy_for_the_Week_Ahead_body_Picture_5.png, British Pound Looks Dangerously Overstretched - How do We Trade?

British Pound Looks Dangerously Overstretched - How do We Trade?

Fundamental Forecast for the British Pound: Neutral

- The GBPUSD looks overstretched as it surges but remains below major highs

- UK Q3 GDP figures, Bank of England Minutes, and US labor data warns of sharp short-term swings

- We’ll need a big surprise from economic data to force the GBPUSD out of its trading range

Follow minute-by-minute updates on the British Pound via our DailyFX on Demand program.

The British Pound surged versus the downtrodden US Dollar and yet finished just short of year-to-date peaks. An ominous intraday reversal through Friday’s session warns that traders are not yet ready to push it to fresh peaks.

The week ahead promises important economic event risk from both the UK and US economies with Bank of England Meeting Minutes, UK Q3 GDP Growth numbers, and a long-overdue US Nonfarm Payrolls Report likely to force noteworthy volatility. Yet a sharp decline in forex market volatility prices/expectations suggests that huge price swings are relatively unlikely. How might we trade?

There seem to be toomany reasons to not go long the US Dollar at these levels (go short GBPUSD). Namely: a sharp drop in US bond yields/Fed interest rate expectations have forced the Dollar lower, while surges in the S&P 500 and quiet market conditions hurt the appeal of the safe-haven US currency. And yet going long the GBPUSD looks risky as the GBP looks dangerously overstretched below key October peaks. It might take major surprises in key event risk to force big GBPUSD moves.

Great Britain is the first G7 countryto report on Q3 growth numbers, and the large range of analyst estimates suggests there’s a lot of uncertainty surrounding the release; sharp short-term GBP moves seem likely. BoE Minutes are comparatively less likely to force major waves as interest rate/monetary policy expectations look stable. What of US labor market data?

The long-overdue release of September US NFPs results could spark large moves across US Dollar pairs—particularly as traders have aggressively scaled back bets on the future of the Federal Reserve “taper”. Why does this matter?

The US Dollar surged on initial expectations that the Fed would taper its Quantitative Easing policies, but the sharp reversal in rate forecasts has led to Dollar weakness. US Treasury Yields have given back anywhere between a third or half of the run-up they saw in the aftermath of the initial Taper bombshell, and any major surprises in NFP figures could force big moves in yields and the US Dollar.

There isn’t enough of a reason to go long GBPUSD here absent a convincing break above year-to-date peaks, but a short position looks similarly unattractive. In the absence of major fundamental surprises, the British currency could simply stick to its $1.5900-$1.6260 range of the past 30 days. - DR

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

DISCLOSURES