Daily Forex Trading News from Valutrades

Market Recap: 12 - 16 October

on October 19, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week rallying higher and resuming its trading around the key $43 level. Only a week ago UK Oil was strongly rejected by the resistance around the key $43 level again forcing it lower, before the recent rally. This latest rejection was on the back of a strong rally in the previous week which saw UK Oil move from a three month low below $39 back up to the key level at $43. In the last few weeks UK Oil has made repeated attempts to break through the long time key level of $43 which reinforces how significant this level is.

Market Recap: 28 September - 2 October

on October 5, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week disappearing quickly from the key $43 level falling to a near four month low below $40. Just prior to the fall, UK Oil made repeated attempts over two weeks to break through the long time key level of $43. After settling in a narrow range right around $40 after having fallen sharply for the week prior from a six month high above $46, UK Oil did well to rally back to this key level before easing below again. For the last four months the $43 level has played a key role in UK Oil and continues to do so as it is currently providing resistance.

UK Oil - Rallies to Resistance at Key $43 Level as Recovery Concerns Remain

on September 29, 2020 | By Stuart McPhee | UKOil

In the last week, UK Oil has made repeated attempts to break through the long time key level of $43 after easing back below this level last week. After settling in a narrow range right around $40 after having fallen sharply for the week prior from a six month high above $46, UK Oil did well to rally back to this key level before easing below again. For the last four months the $43 level has played a key role in UK Oil and continues to do so as it is currently providing resistance. Several weeks ago UK Oil reached the six month high, after very slowly but steadily moving higher in a period of very low volatility. It very slowly moved through the key level at $43 in July and has since ever so slightly crept higher. It was able to enjoy some strong support from the $43 level, however this has now been strongly broken through and is providing some resistance as expected.

Market Recap: 14 - 18 September

on September 21, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week undertaking a strong rally to move it back to the key level at $43 after falling to a three month low below $40. Just prior to the rally, UK Oil settled in a narrow range right around $40 after having fallen sharply for the week prior, from a six month high above $46. It didn’t move with any strength in the four weeks or so, as UK Oil ever so slightly moved higher reaching that six month high, as it has been a period of very low volatility.

UK Oil - Steady Near Three Month Low Below $40 on Recovery Concerns

on September 15, 2020 | By Stuart McPhee | UKOil

In the last week, UK Oil has settled in a narrow range right around $40 after having fallen sharply for the week prior, from a six month high above $46. It didn’t move with any strength in the four weeks or so, as UK Oil ever so slightly moved higher reaching that six month high, as it has been a period of very low volatility. It very slowly moved through the key level at $43 in July and has since ever so slightly crept higher. It was able to enjoy some strong support from the $43 level, however this has now been strongly broken through and may provide some resistance should UK Oil rally in the immediate future.

Equities Profit Taking. Brexit GBP Concerns.

on September 7, 2020 | By Brad Alexander | GBPUSD, USDCAD, Market Blast Videos, UKOil, EURGBP, USOil, WTI, NASDAQ

Welcome to this week’s Market Blast Fundamentals where we will look at USDCAD, EURGBP, GBPUSD, WTI (US Oil), and the NASDAQ (US100).

Market Recap: 31 August - 4 September

on September 7, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week falling sharply back below the key $43 level down to a five week low. In the last four weeks or so UK Oil has ever so slightly moved higher reaching a six month high above $46 in the process, in a period of very low volatility, before its recent drop. It very slowly moved through the key level at $43 in July and has since ever so slightly crept higher, and in the last few weeks, it has enjoyed some support from the $43 level. In early June UK Oil made two solid runs towards a then three month high and met stiff resistance at $43 on both occasions. Rather than breaking strongly through this level, it was very subtle.

UK Oil - Steady Near Six Month High Around $46 on Recovery Signs

on September 1, 2020 | By Stuart McPhee | UKOil

In the last four weeks or so UK Oil has ever so slightly moved higher reaching a six month high above $46 in the process, however it has been a period of very low volatility. It very slowly moved through the key level at $43 in July and has since ever so slightly crept higher, and in the last few weeks, it has enjoyed some support from the $43 level. In early June UK Oil made two solid runs towards a then three month high and met stiff resistance at $43 on both occasions. Rather than breaking strongly through this level, it was very subtle.

Market Recap: 17 - 21 August

on August 24, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week continuing to move very little around $45. In the last four weeks or so UK Oil has traded in a very narrow range right around and above what has become a key level at $43, after slowly but surely moving through this level. In the last few weeks, it has enjoyed some support from the $43 level, and in early June UK Oil made two solid runs towards a then three month high and met stiff resistance at $43 on both occasions. UK Oil was forming a textbook ascending triangle with the upper level at the resistance around $43 whilst forming higher troughs throughout June and July, however rather than breaking strongly through this level, it was very subtle.

UK Oil - Steady Near Five Month High Above $43 on Signals of Recovery

on August 18, 2020 | By Stuart McPhee | UKOil

In the last four weeks or so UK Oil has traded in a very narrow range right around and above what has become a key level at $43, after slowly but surely moving through this level. In the last few weeks, it has enjoyed some support from the $43 level. In early June UK Oil made two solid runs towards a then three month high and met stiff resistance at $43 on both occasions. UK Oil was forming a textbook ascending triangle with the upper level at the resistance around $43 whilst forming higher troughs throughout June and July, however rather than breaking strongly through this level, it was very subtle.

Market Recap: 12 - 16 October

Market Recap: 28 September - 2 October

UK Oil - Rallies to Resistance at Key $43 Level as Recovery Concerns Remain

Market Recap: 14 - 18 September

UK Oil - Steady Near Three Month Low Below $40 on Recovery Concerns

Equities Profit Taking. Brexit GBP Concerns.

Market Recap: 31 August - 4 September

UK Oil - Steady Near Six Month High Around $46 on Recovery Signs

Market Recap: 17 - 21 August

UK Oil - Steady Near Five Month High Above $43 on Signals of Recovery

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