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
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
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
  • BoE Focus - Eyes on QE purchase rate (decision to taper would be mechanical, not outright hawkish signal) - Forecasts expected to be upgraded - Bank Rate and APF expected unchanged - GBP option implied move = 74pips
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.18%, while traders in Wall Street are at opposite extremes with 76.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lQqV46DG4c
  • Heads Up:🇬🇧 BoE MPC Vote Cut due at 11:00 GMT (15min) Expected: 0/9 Previous: 0/9 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE MPC Vote Unchanged due at 11:00 GMT (15min) Expected: 9/9 Previous: 9/9 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE MPC Vote Hike due at 11:00 GMT (15min) Expected: 0/9 Previous: 0/9 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 MPC Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 Monetary Policy Report due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE Quantitative Easing due at 11:00 GMT (15min) Expected: £875B Previous: £875B https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE Interest Rate Decision due at 11:00 GMT (15min) Expected: 0.1% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-05-06
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/YwOC3vwsmK
3 Charts to Follow: Crude Oil, Gold and Bitcoin (BTC) Price Analysis

3 Charts to Follow: Crude Oil, Gold and Bitcoin (BTC) Price Analysis

Nick Cawley, Strategist

Crude Oil, Gold and Bitcoin (BTC) Price Analysis and Charts.

  • Crude oil’s supportive uptrend remains in place as rally slows.
  • Gold oversold but struggling to hold support.
  • Bitcoin (BTC) forming a bullish pennant.

DailyFX Q2 Forecasts and Top 2019 Trading Opportunities.

Crude Oil –Rally Intact but Slowing Down

Crude oil’s 40%+ rally since December 26 last year is slowing down with price ranges narrowing and fresh highs becoming harder to print. The chart shows a positive backdrop with crude above all three moving averages and respecting this year’s bullish trendline. Crude produced a bullish signal earlier this month when the 20-day ma went above the 200-day ma and it looks likely the 50-day ma will do the same shortly producing a ‘golden cross’. Support currently starts at $70.56/bbl. off the 38.2% Fibonacci retracement of the June 2017 – October 2018 rally before the three moving averages come into play between $69.74/bbl. and $67.86/bbl. The longer-term upside target is $76.71/bbl. the 23.6% Fibonacci retracement.

How to Trade Oil: Crude Oil Trading Strategies and Tips.

Crude Oil Daily Price Chart (June 2018 – April 17, 2019)

3 Charts to Follow: Crude Oil, Gold and Bitcoin (BTC) Price Analysis

Gold – Chart Bias Remains Negative in the Medium-Term

The $35/oz. sell-off in gold since last Thursday has pushed the precious metal through a notable support level provided by the 61.8% Fibonacci retracement at $1,287/oz. and back to the lowest level seen this year. The CCI indicator shows the recent move has pushed gold into oversold territory which may help stem losses, but the overall chart set-up continues to suggest lower prices ahead. The next area of support is seen between $1,262.8/oz. (50% Fib) and the 200-day moving average currently at $1,257.6/oz. Lower highs dominate off the February 20 high at $1,347/oz.

How to Trade Gold: Top Gold Trading Strategies and Tips.

Gold Daily Price Chart (May 2018 – April 17, 2019)

3 Charts to Follow: Crude Oil, Gold and Bitcoin (BTC) Price Analysis

Bitcoin (BTC) – Flagging Higher Prices?

A bullish pennant is forming on the daily Bitcoin (BTC) chart which may suggest another break higher and back above $6,000. The April 2 pennant pole, if respected, would see a move around $900 higher taking Bitcoin up to the $6,111 level which is made up of three old supportive lows and the top of the gap made on the November 14 bear candle. The 20-day ma has broken above the 200-day ma while the CCI indicator is out of extreme oversold conditions. A clean break and close above $5,350 and, to a lesser extent, $5,460 is needed to target $5,769 before $6,111.

A Guide to Trading Bitcoin and Other Cryptocurrencies.

Bitcoin (BTC) Daily Price Chart (August 2018 – April 17, 2019)

3 Charts to Follow: Crude Oil, Gold and Bitcoin (BTC) Price Analysis

IG Client Sentiment shows how retail traders are positioned in a wide range of currencies, commodities and cryptocurrencies. See how recent changes in positioning affect our trading bias.

--- Written by Nick Cawley, Market Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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

DISCLOSURES