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
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
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
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • $USDCAD has turned downward again after climbing from a low around 1.2610 yesterday to above 1.2700 this morning. The pair is now trading around 1.2685. $USD $CAD https://t.co/p6bPB4Jatw
  • The Senate Finance Committee unanimously approved Janet Yellen for Treasury secretary (26-0) and now it goes to the full Senate. Very likely to pass
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: -0.95% Oil - US Crude: -1.14% Silver: -2.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/6aT4MtF9vT
  • 🇺🇸 Existing Home Sales MoM (DEC) Actual: 0.7% Expected: -2% Previous: -2.2% https://www.dailyfx.com/economic-calendar#2021-01-22
  • With a day left $TSLA is looking to be the runaway favorite with $AAPL only raking in 25% of the votes https://t.co/AVsf0AqQ9t
  • 🇺🇸 Existing Home Sales MoM (DEC) Actual: 0.7 Expected: -2% Previous: -2.5% https://www.dailyfx.com/economic-calendar#2021-01-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 65.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YMMQgm5FGo
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -1.12% Oil - US Crude: -1.83% Silver: -2.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/k0yPCNU5c5
  • 🇺🇸 Markit Manufacturing PMI Flash (JAN) Actual: 59.1 Expected: 56.5 Previous: 57.1 https://www.dailyfx.com/economic-calendar#2021-01-22
  • Heads Up:🇺🇸 Existing Home Sales MoM (DEC) due at 15:00 GMT (15min) Expected: -2% Previous: -2.5% https://www.dailyfx.com/economic-calendar#2021-01-22
Crude Drops for 5th Day; Tests August Low

Crude Drops for 5th Day; Tests August Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_crude.png, Crude Drops for 5th Day; Tests August Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-A triangle formed in Crude from 7/19 to 8/21. Triangles are typically resolved in the direction of the larger trend but breakouts from triangles are usually the final leg of a larger move.

-On 8/28, price took out the 2012 high before closing nearly $3 off of the high (exhaustion)

-Price broke below the trendline that extends off of the 6/25 and 8/22 lows and retested it on the Fed advance before dropping to test the August low and trendline off of the April and June lows.

Trading Strategy: Bias is still short with a target of 100.50 but beware a bounce from here with the August low and trendline in the way. 104.90-105.40 is estimated resistance.

LEVELS: 98.91 100.40 102.05 | 103.94 104.93 106.10

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

DISCLOSURES