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UKOIL-USOIL

Crude clone called Euro?This also needs to be understand by those who think that are trading just euro...Funds lock their positions in EURUSD with those in crude oil! Understanding the OIL, EUR/USD Correlation Read - chigrl1.wordpress.com Most oil exporting countries trade assets in USD, meaning, these countries receive a significant portion of USD inflows from the proceeds of these sales. Thus the foreign currency reserve balances of these oil exporting countries, in a sense, is broadly reflected by the price of oil. We can see this as reflected in the chart below. Up to 2014, reserves increased notably, and then declined considerably as the price of oil fell. However, data also shows that they invest part of their reserves in EUR, as they sell a large share of their production to the Eurozone. Thus, when the price of oil falls, this means that a smaller portion of USD is transferred to EUR, thus contributing to a depreciation of the currency. Inversely, when the price of oil increases, a larger portion is transferred to EUR, contributing to the appreciation of the currency. For this reason, many funds lock their positions in EUR/USD with those in crude oil. Therefore, it is no coincidence that COT data shows crude oil and EUR in lock step.
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by ICFX
UK OIL: In a kill zone for a controlled lossI show a broad kill zone on 1D chart of UK Oil. Features: 1. Price coming into a zone of congestion. 2. Double pump on Squeeze momentum - which means movement upward of price is more likely to be a minor rebellion. 3. Price below the ATR line. 4. RSI struggling at this time of publication to get above 50. Short-sellers should not act on this set up unless they can afford serious losses. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.
TVC:UKOILShort
by Captain_Walker
Crude Oil Elliott Wave IdeaPurely a guesstimate as predicting long term is impossible but oil could be in a long term correction (ABC). Now nearing the end of (b) (shown in bright blue) to the red trendline around the $47 level, before an impulsive move for (c) (of a larger degree B wave) to $95 (point D of the Gartley and between the 0.5 and 0.618 retracement of the larger degree A wave), then the larger degree C wave to new lows. With Gartley removed > Gartley on its own >
TVC:USOIL
by Joseph_King
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