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
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • UK 8-year Gilts on the cusp of turning negative..#gilts #sterling @DailyFXTeam https://t.co/ldXS2eYzJl
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:https://t.co/vg7w10la3j https://t.co/8rwkKVigC4
  • South Africa's Eskom says the possibility that Eskom may be forced to implement loadshedding has increased as the power system is severely constrained $ZAR
  • 🇮🇹 Industrial Production MoM (MAY) Actual: 42.1% Expected: 22.8% Previous: -20.5% https://www.dailyfx.com/economic-calendar#2020-07-10
  • 🇮🇹 Industrial Production YoY (MAY) Actual: -20.3% Expected: -32.5% Previous: -43.4% https://www.dailyfx.com/economic-calendar#2020-07-10
  • 🇮🇹 Industrial Production MoM (MAY) Actual: 42.1 Expected: 22.8% Previous: -19.1% https://www.dailyfx.com/economic-calendar#2020-07-10
  • 🇮🇹 Industrial Production YoY (MAY) Actual: -20.3 Expected: -32.5% Previous: -42.5% https://www.dailyfx.com/economic-calendar#2020-07-10
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/5f4f0vdUTV
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.08%, while traders in NZD/USD are at opposite extremes with 70.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/I7Yt76dYsY
  • Heads Up:🇮🇹 Industrial Production MoM (MAY) due at 08:00 GMT (15min) Expected: 22.8% Previous: -19.1% https://www.dailyfx.com/economic-calendar#2020-07-10
Crude Reacts off of Line from 1998 and 2001 Lows

Crude Reacts off of Line from 1998 and 2001 Lows

2015-01-15 22:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Weekly

Crude Reacts off of Line from 1998 and 2001 Lows

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“With crude in freefall, it’s a good time to step back and look at where massive support could reside. Well, the line that extends off of the 2001 and 2008 lows intersects a lower parallel this month and the next at the 78.6% retracement of the advance from 2008 at 53. While the market is clearly extreme and therefore prone to a reversal now, 53 looks great for a significant low.”

-Crude was able to find minor support near 53 but the market now trades with a 4 handle. The line that extends off of the 1998 and 2001 lows has been reached. A weekly close above the line would be a positive.

--Tradingideas are availabletoJ.S. Trade Desk members.

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

DISCLOSURES

News & Analysis at your fingertips.