CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
About Our Global Companies
Valutrades_LogoSpot
Valutrades_SYLogoSpot

Company

Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
Valutrades (Seychelles) Limited - a company incorporated in the Seychelles with company number 8423648-1.

Regulation

Regulated by the FCA (Fincancial Conduct Authority). Financial Services Register Number 586541.
Regulated by the FSA (Financial Services Authority). Regulatory Number SD028.

Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1

Country

United Kingdom
Seychelles

Negative Balance Protection

Yes
Yes

Back to Blog

GOLD at Key Level. Brent Crude at High. EURUSD in Descending Triangle.

   

Welcome to this week’s Market Blast Technicals.

I’m Brad Alexander and on behalf of Valutrades, today we will look at CADCHF, EURUSD, Brent Crude (UK Oil), WTI (US Oil), and Gold (XAUUSD).

 

Let’s jump right into some technical analysis on Gold where we see lower highs during the month of September and some clear consolidation.Screenshot 2021-09-28 at 11.04.03

The ADX Indicator is showing us consolidation as well.Screenshot 2021-09-28 at 11.04.31

If we move out to the Daily chart we see a similar situation with price at this key level which, if you remember, was the neckline for this Double Bottom that we saw back in March.

The Stochastic Oscillator is looking quite Bearish and, if we break this level of support, the next level below is $1,684.Screenshot 2021-09-28 at 11.05.19

Supply and Demand for Crude and petroleum products have been in the news these days and price action on WTI has just passed this key level from the beginning of July.

The Stochastic Oscillator is looking very Bullish and we will see if we get a retracement this week, before continuing higher.Screenshot 2021-09-28 at 11.05.45

Brent Crude opened even higher than its July highs with a weekend gap and price right now is above $80 per barrel.Screenshot 2021-09-28 at 11.06.06

We see EURUSD in this Descending Triangle with this level of support at $1.688.

If we break below, the next level is $1.667 but, as we know, this type of consolidation pattern could have price action going either way.Screenshot 2021-09-28 at 11.06.40

Yesterday we looked at CADCHF and it finally did break that level of resistance and appears to be heading up to this zone of consolidation.

That’s all for now.  Happy trading with Valutrades and we will see you later in the week with our trading tips video.

CFDs and FX are leveraged products and your capital may be at risk.28 sept EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

Comments