Daily FX | Dynamic Trader Blog

Weak EURGBP

Good morning forex traders,

The EURGBP has been bearish for a few weeks and now could be showing further signs of weakness. The break of C4L could be the catalyst for further downside but watch out for traders remorse.

The USDCAD is still showing bearishness despite the previous daily candle formation. We may see a pullback short term though.

Although Gold has reversed a little yesterday and today, our model is still showing bullish signs.

Crude oil is still bullish according to our system and is likely to tag as per our original analysis of the $70 region. Since the webinar crude oil has climbed to 600 points profit.

Today's forex trends are below. You can click the table to expand it.

Good trading.

Javid Shaik
Forex Analyst

Crude Oil Breaks $80

Hello dynamic traders.

I want to briefly mention the crude oil has broken the $80 support mentioned on the previous forex posts listed below.

Dynamic Trader Post
Dynamic Trader Post
Javid's FXCPS Forex Post

Last weeks close was $77.70 so we are nearing $60. Below is the S&P 500 daily chart in red compared to the Crude Oil Daly chart in black. Congratulations to those trading crude oil in recent times.

Crude oil is in the two legged extension zone and a supported bounce may be on the horizon.

Javid's forex post here.

Good dynamic trading...

Anne Chapman
Currency Analyst

Crude Oil Hits $80

Good evening dynamic traders. What a wild week it has been on the stock market. The Dow Jones is down 500 points at 7.40pm Friday evening and near the figure.

On my last dynamic trader update  I mentioned if crude oil breaches $88.93 then we could see further weakness and as Javid mentioned on FXCPS.com that in the coming months crude oil could continue down towards $80 or even $60. Since that forex post by Javid crude oil it has been 10 days and price has already hit $80.

Crude oil has a convergence and is at the figure plus a support zone. We might see a bounce before a continuation down. If you are also shorting crude oil then I believe it is time to manage the trade regardless of XTL. If the trend continues then $60 as Javid mentioned may come sooner rather than later. Daily chart of crude oil is below.

FXCPS forex analysis here.

Good dynamic trading...

Currency Analyst
Anne Chapman