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
  • 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
  • Market uncertainty sees GBP pairs break out of their ranges. Get your weekly GBP forecast from @HathornSabin here: https://t.co/IRO7a6Jv8J https://t.co/4LxWz7sOVF
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.01% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.03% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.21% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AXKeEsin95
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.02% Gold: -0.27% Silver: -0.91% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PgsZBsHHp8
  • The Canadian Dollar is poised to snap a three week losing streak against the US Dollar after USD/CAD reversed sharply off technical resistance early in the week. Get your $CAD market update from @MBForex here:https://t.co/JhO6n3Di9h https://t.co/17N1aFRUDB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.45%, while traders in Wall Street are at opposite extremes with 75.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/3ADpF5W5Af
Guest Commentary: Hourly USDJPY - Increased Volatility Warns of Consol Break!

Guest Commentary: Hourly USDJPY - Increased Volatility Warns of Consol Break!

Don Haines, MarketVisionTV.com,

* Look to sell USDJPY upside reactions into natural 50 to 61.8 percent resistance against the 79.20 peak.

Guest_Commentary_Hourly_USDJPY_Increased_Volatility_Warns_of_Consol_Break_body_HourlyYenSep18th.png, Guest Commentary: Hourly USDJPY - Increased Volatility Warns of Consol Break!

In Elliott Wave analysis a five wave move signifies the direction of the trend. Thus it is a very rare occurrence to see back to back to back trend sequences or impulse moves. In fact, one of the only formations this can occur is at the very end of an irregular flat pattern. As a refresher, an irregular consolidation occurs in an over-whelming bearish or bullish positions when the intermediate B wave breaks to new lows or new highs.

As we have been highlighting on the Daily chart we suspect the longstanding 77.65 to 80.60 consolidation pattern is breaking lower. We suspect the five wave decline from the interim 79.05 peak is the minor C wave of an irregular flat pattern to end the B wave low.

Thus the relatively aggressive rally to 79.20 in an impulse format is the exhaustive C leg of the pattern. That would then explain the strong decline to thus far find 78.2 support as the start of a larger downtrend sequence to attack the medium term 75.55 low.

Under the assumption we hold initial 78.00 support, look to sell upside reactions into natural 50 to 61.8 percent resistance against the 79.20 peak. Over this level suggests we are again premature in the bearish view for an extension back to 80.05 before the downtrend begins.

Further videos or commentaries are available from www.marketvisiontv.com.

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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

DISCLOSURES