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US Dollar Fundamentals -WTI Slips To 6 Month LowsToday the market released US Building Permits data as mentioned yesterday (Actual: 1.674M Forecast: 1.650M Previous:1.696M), this showed a bullish sentiment in relation to the expected data, but in regards to the previous data from June this data was bearish for the greenback as the value was less, less building permits means less construction starts and less growth in the economy. Core CPI data for Canada which helped the Loonie show bullish strength earlier in the New York session was also released today, the data showed Canadian inflation rose last month, but the inflation trend has been decreasing overall, the data showed an (Actual: 0.5% Previous: 0.3%), where there was no forecasted value. These were the fundamental economic reports for today. Tomorrow US Retail Sales data will be released which will be bringing strong volatility to the market, along with crude oil inventories and an FOMC meeting. So it is likely after the result of these fundamental economic reports the market will turn to a direction in which we can look to speculate on after such as if these reports cause a large spike in the market bringing strong bullish volatility, then we can short the market later on. Currently the FX market sits quite neutral from my standpoint. During the New York session WTI oil slipped earlier today to 6-7 month lows to 85.3 dollars a barrel. Ilyas Khan Top1 Markets
FXOPEN:XTIUSD
by Seafair-Capital-Management
USOIL 11th AUGUST 2022The United States posted an increase in inventories of 5.5 million barrels in the past week. The realization was higher than the expected 73,000 barrels. Gasoline products supplied also rose in the last week to 9.1 million barrels per day. The figure marks a 6% decline in demand over the last four weeks compared to the period last year. From a fundamental point of view, the oil market continues to monitor the development of oil supply from Russia to Europe via the Druzhba pipeline, which was resumed earlier this week. The market is also awaiting the release of monthly oil data from the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) scheduled Thursday.
TVC:USOILShort
by DNP-FX
10
USOIL Intraday longUSOIL/ US Crude has been pulling back to our resistance. We will first catch the bullish move on the hourly timeframe and wait for aa bearish confirmation once our ABCD pattern is complete. Once we have the confirmation, we will short the XTIUSD. Please sharee your thoughts. Disclaimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
BLACKBULL:USOIL.FLong
by Mezzoforte_Privilege
USOIL 27th JULY 2022Oil prices rose for the second day in a row, Tuesday (26/7). Amid growing concerns about tightening European supplies after Russia, a major energy supplier is cutting gas supplies via a main pipeline. The European Union has repeatedly accused Russia of using energy blackmail. The Kremlin said the shortage had been caused by maintenance issues and Western sanctions. EU energy ministers on Tuesday approved a proposal for all EU countries to cut voluntary gas use by 15% from August to March. The Organization of the Petroleum Exporting Countries and allied producers (OPEC+) are expected to confirm as a mere formality their decision to expand oil production by 650,000 barrels per day in July and August. The OPEC+ group of producers including Russia, began two days of meetings on Wednesday, though sources said there was little prospect of agreement to pump more oil . The net drop in crude oil inventories was flattered by SPR (Strategic Petroleum Reserve) releases, while the gasoline stock jump is because U.S. refineries are running at over 95% capacity. USOIL 6th JULY 2022 USOIL 14th JUNE 2022
TVC:USOILShort
by DNP-FX
13
📈BRENT 21/07/2022: potential longs❗️📈 Priority direction: Up. 📝 Description: The downward channel for oil since mid-June indicated the priority of shorts, but at the moment, most likely, buyers will attempt to reverse the price and send it towards the latest highs. In the near future, the price will try to break through the resistance line of this channel. An alternative scenario assumes that the price will stand at current prices and then go up. Potential longs can be considered from the level of $101. -------------------------- Thank you for your support, subscribe and share your ideas here 👇 --------------------------
TVC:UKOILLong
by Market-Mentor
1