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Oil and Forex Trading Alert - Oil Is Bidding Its Time While the USD Index Again Reached Support
October 16, 2019, 10:24 AMCrude oil is seemingly trading on a seesaw in the last few days. Moving higher earlier, it gave up all of its gains this week. What can we make of such moves that cancel each other out? Is there any sign that would favor either the upswing or the downswing continuation? Yes, and it tilts the scales even more in a certain direction...
Meanwhile, the USD Index reversed lower yesterday as the Brexit negotiation breakthrough speculation hit the tape. Importantly though, the decline was stopped by the closest support at hand. And the dollar is holding up quite well despite today's weak retail sales figures. Does it make the current situation similar to the September's broad bottoming?
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Oil and Forex Trading Alert - Oil Again Reverses Higher While the USD Index Tentatively Rises
October 15, 2019, 9:44 AMCrude oil bounced from its yesterday's lows, and the oil bulls rebuffed another attempt to move lower earlier today. Does that mean that the upswing can continue now, or a cautious approach would win the day?
Meanwhile, the USD Index scored some gains yesterday, and is rising also today. Just how similar is the situation to the September's breakdown before the rising support line? Let's examine whether the recent downswing brought any changes to the outlook or not.
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Oil and Forex Trading Alert - Oil Corrects Friday's Gains While the USD Index Outlook Remains Intact
October 14, 2019, 10:34 AMCrude oil rose strongly on Thursday and Friday, trading more than comfortably above the declining resistance-turned-support line. There are two facts that support the upswing continuation, today's pullback notwithstanding. Let's examine them both for details.
Meanwhile, the USD Index declined significantly on Friday. Before jumping to any conclusions, let's assess the context of the downswing. How much does it actually change? Let's assess the outlook for the days ahead.
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Oil and Forex Trading Alert - Oil Bounces Resoundingly While the USD Index Is Primed for Upswing
October 11, 2019, 7:36 AMAfter the many days of sideways consolidation, oil jumped higher yesterday and isn't looking back today either. The earlier breakout above the declining resistance line has been more than confirmed, the upswing is alive and well, so let's shift our attention to reexamining the target area for cashing sizable profits.
Meanwhile, the USD Index is setting itself up for a sizable move that we won't watch disinterested. The charts have sent their message, upon which we have acted. Let's assess the outlook for the days ahead as it stands right now.
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Oil and Forex Trading Alert - Oil Consolidation Grows Stronger While the USD Index Is About to Move in Earnest
October 10, 2019, 7:36 AMAgain, we have seen an uneventful oil session yesterday if judged by the opening and closing prices only. But it's about the context these moves are playing out in. Its message is clear, and the earlier confirming sign just got one more ally. Let's dive into the charts and find out what it means for our profitable open position.
Meanwhile, the USD Index gave up its Tuesday's gains earlier today, which is consistent with the back-and-forth trading prior to the start of its next serious move. We're ready and the charts are sending us an important message that warrants making a new trading decision right now.
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