Forex Trading long AUDUSD. WTI Crude Oil in Symmetrical Pennant. Inflation in Focus this Week.
Forex Trading long AUDUSD. WTI Crude Oil in Symmetrical Pennant. Inflation in Focus this Week.
![](/media/images/15_July_2024_FX_Mark.2e16d0ba.fill-1600x400.format-webp.webp)
In today’s GCI Market Outlook, let’s take a look at Forex Trading on EURUSD, GBPUSD, AUDUSD and WTI Crude Oil.
Looking at the 4-hour chart on WTI Crude Oil we see that the bull run might be continuing.
Or could this be a double top?
If we look at other time frames we see a different story.
For example, on the weekly chart, we see price action in a symmetrical pennant and the stochastic oscillator is overbought and turning down.
The weekend’s attempted assassination of the former president had USD opening stronger and they are calling this a new Trump Trade.
So, we see long opportunities to fill the gaps in EURUSD, GBPUSD, and AUDUSD.
In the short term, the strongest currency is JPY with sudden strength last week.
In the longer term, GBP is still very strong and we will keep an eye out for reversals.
The weaker currency is CAD despite the previously mentioned price of WTI.
This week’s economic news may shape future moves with Inflation figures from Canada, New Zealand, and the UK.
We have retail sales news from the US, the UK and Canada.
And, Thursday, an Interest Rate Decision from the ECB.
EUR is incredibly mixed so we may have some obvious opportunities on Thursday.
That’s all for now.
CFDs and FX are leveraged products and your capital may be at risk.
Latest Analysis
- September Market Selloff on US Indices. Forex Trading USDJPY Safe haven. WTI Crude Oil Falling. September 05, 2024 04:30 AM
- NASDAQ Hits Upper Trend Line WHAT'S NEXT for AUDCAD Range FOREX Trading! September 02, 2024 04:24 AM
- Forex Trading Gold (XAUUSD) in Rising Wedge. Natural Gas in Focus. Buy the Dip on NASDAQ? August 29, 2024 03:21 AM
- Forex Trading Gold (XAUUSD) in Rising Wedge. US Fed to Lower Interest Rates. RBA Focussing on CPI Tomorrow. August 26, 2024 06:36 AM
- Forex Trading Long on Platinum. Range Trading Silver (XAGUSD). USD Continuing Weaker. August 22, 2024 06:33 AM
- Forex Trading CAD with CPI in Focus. Silver (XAGUSD) at Key Fibonacci Level. Jackson Hole this Week. August 19, 2024 05:27 AM
- Forex Trading Long on AUDUSD. Oil and Gas in Focus. Silver (XAGUSD) at Key Resistance. August 15, 2024 05:41 AM
- Forex Trading Short on WTI Crude Oil? JPY Consolidating. Silver (XAGUSD) Heading for Upper Trend Line. August 12, 2024 06:03 AM
- Forex Trading Short on GBPUSD. More to move on the DAX (DE40)? CAD Employment in Focus. August 09, 2024 07:36 AM
- Time to buy the S&P 500 Dip Post-Crash? What is the Carry Trade? Trading Long on the DAX. Today 02:37 AM
Open an account in minutes
Trade on our award-winning platforms with ultra-fast and ultra-secure execution.
OPEN AN ACCOUNT