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Trading Crude Oil on OPEC+. Trading Gold Against US Non-Farm Payrolls.


Welcome to this week’s Market Blast Fundamentals.

I’m Brad Alexander and on behalf of Valutrades today we will take a look at WTI (US Oil), Gold (XAUUSD), NZDUSD and AUDUSD.


We see that the strength of the USD is starting to recede and, in some cases, reverse.Screenshot 2021-06-28 at 10.37.01

Therefore, we will be waiting for Economic News this week to determine the direction of USD with tomorrow’s Consumer Confidence Index, the ADP Payroll data and Pending Home Sales on Wednesday, Manufacturing PMI on Thursdays and of course, the US Non-Farm Payrolls on Friday to which the market will pay the most attention.

So, for trading opportunities, we will look for counter-trend price action moves.Screenshot 2021-06-28 at 10.37.13

For example, if price on AUDUSD is driven to this upper trend line, we may want to go short.Screenshot 2021-06-28 at 10.37.24

The same could be said for NZDUSD if price breaks this trend line and reaches either support or resistance, we can trade the reversal.Screenshot 2021-06-28 at 10.37.31

XAUUSD will also be affected by the US economic news and we see price action has been trapped in this consolidation zone above this key level at $1774.Screenshot 2021-06-28 at 10.37.45

Traders and investors will be watching the OPEC+ meetings this week as production increases may affect the price of Crude Oil and we see that the WTI cash price is $74 today.

Thanks for watching and don’t forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.

That’s all for now.  Happy trading with Valutrades and we will see you tomorrow.

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



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.