My trading activity in the FXOpen

[FXcandles]

Back to the boards today

In the midst of the heated geopolitical situation in the Middle East, perhaps gold still has the potential to be a safe haven choice amidst the turmoil of global economic tension and uncertainty.
The price of gold has reached a new all time high this year and if the price of gold continues to rise it will form a new all time high for the umpteenth time.

Meanwhile, the price of US crude oil is also expected to rise, although currently the price is still moving at around 85, some predictions project that oil could possibly reach $100.

 

[FXcandles]

Back to the boards today.

Mencermati harga minyak US crude oil hari ini masih ketat diperdagangkan di 84.40. Kekhawatiran pasar karena mungkin Israel yang telah bersumpah membalas dendam Iran menyebabkan beberapa analis memprediksi harga minyak dapat mencapai $100 karena terganggunya pasokan langsung.

Disisi lain harga emas masih konsolidasi dekat 2380 dan masih ada potensi kenaikan dalam jangka panjang menyusul geopolitik global yang memanas memungkinkan investor akan mencari safe haven aset seperti emas.

 

[FXcandles]

Back to the boards today

Unlike what many traders expected, oil prices plunged yesterday from 84.93 to a low of 81.98 even though the escalation of the Iran vs Israel war has become an important issue in global geopolitics. In fact, according to the EIA report, there was an increase in oil stockpiles which caused prices to plummet.

Today US crude oil is trading at 83.32, the price is in correction currently, a downside break will probably bring the price down near 80.00.

On the other hand, gold prices are still trading stable at around 2374. There has been no drastic price increase in gold, but long-term bullish potential is still possible.

 

[FXcandles]

Back to the boards today monitoring forex market changes

Oil prices jumped briefly and fell again in just a day of trading and formed a small bullish candlestick with a long shadow on the top candle.

On the other hand, gold prices are also volatile, prices soar and fall drastically within a few hours. The conflict in the Middle East is thought to have an impact on financial markets including oil and gold.

 

[FXcandles]

Back to the boards today in Monday market

Today I see that oil prices are still trading above the 80 price level, even though they fell last weekend but have not yet broken the psychological level of 80. In the midst of tensions which have become a hot topic recently, the war in the Middle East might trigger oil prices to rise due to concerns about disrupting global supplies. .
However, it seems that the market is not that simple, oil prices are also influenced by the amount of supply in the market, there is news that OPEC+ is returning supply of 2 million barrels which may affect oil prices.

Elsewhere, the price of gold has not risen again, in fact, today it appears to be down at around 2376 and may be looking for new support at around 2320.

 

[FXcandles]

Back to the boards today.

What is visible today is that the price of US crude oil is still consolidating near the lower band at around 81 price levels. It is hoped that oil prices will rise again and reach a swing high of 84 price levels. However, if there is a breakout of level 80, oil may fall further.

While gold prices are currently plummeting at 2306 at the time of writing, the Morubozu candle failed to confirm a reversal.

 

[FXcandles]

Back to the boards today.

Oil prices have risen again after falling to a low of 80.73 yesterday, the price is now in the range of 83. The price level is expected to continue to rise, repeating the previous high in the range of 87.

Elsewhere, the price of gold moved flat after rebounding from yesterday's price drop at 2291, the price of gold is now at 2321 on Ticktrader.

Even though the price of gold has fallen, amidst global conditions of geopolitical tension in the Middle East, gold may still be a safe-haven asset that investors are considering.

 

[FXcandles]

Back to the boards today.

It seems that oil prices are still moving steadily around the 82 price level. The market may be responding to conditions in the Middle East which have not yet shown signs of escalation of war.
Yesterday oil prices fell to form a bearish candlestick with almost no shadow but with a smaller body than the previous candlestick. It is expected that oil prices will re-draw the high of 87 next week.

The price of gold is also sideways and moving in consolidation near 2319. It is not clear what the next direction for gold will be, but it is hoped that it will break out to the upside and bring the price up again.
Meanwhile, BTC also fell yesterday and formed a bearish candlestick below the middle band line.

 

[FXcandles]

Back to the boards today.

What happened in the forex market today? The price of US crude oil appears to be rising again now at around 83.00, expected to continue rising until it repeats the high of 87.

The news that Israel will attack Rafah has become a debate for the international political elite, this is a humanitarian disaster that will probably become a dark history on earth.

However, it is estimated that oil will not be much affected by this condition even though there is a psychological impact on the market response.

On the other hand, gold prices are starting to improve somewhat today after consolidating for several days yesterday. However, the price still has not broken the $2345 level.

 

[FXcandles]

Back to the boards

On Monday the forex market was active again after a holiday on Saturday and Sunday except for the crypto market.
Seeing that today's oil price is slightly down around 0.67% from the opening price, there is no gap on Monday for oil prices.

In the midst of geopolitical turmoil in the Middle East, some parties are concerned that this could trigger oil prices to exceed $100 as warned by the World Bank.

Elsewhere, gold prices also appear to have fallen slightly at market open, now at $2327.
According to JP Morgan analysts, although the price of gold is wavering, it tends to rise and they predict it could reach $2360 this year.

 

[FXcandles]

Back to the boards today

Monitoring today's market changes on XTIUSD or US crude oil, it appears that oil prices are falling again after previously rising to around 84.00, but prices have fallen again to the price level of 82.

It is not known for certain whether this decline was due to increased supply or decreased demand. However, tensions in the Middle East are still in the spotlight of many analysts throughout 2024.

The possible escalation of the war continues, and fears of supply chain disruption have led some analysts to predict that oil prices could reach $100 per barrel.

Even though US crude fell today, it still has not penetrated the psychological level of 80.00. Prices move in the range of 81-84 in 4 hours timeframe.

Elsewhere, gold prices also fell amid the possibility of the Fed maintaining high-interest rates to fight inflation.

 

[FXcandles]

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WTI oil prices were observed to fall amid the strengthening of the USD exchange rate. Oil prices are now at the price level of 80.84 and still have the potential to fall near the 80.00 level.
WTI oil prices fell amid news of US data, CB Consumer Confidence fell to the lowest level since July 2022 and manufacturing activity in Chicago contracted to the lowest level since November 2022. The market is increasingly convinced that the Fed will take an increasingly hawkish stance.

Elsewhere, gold prices also fell after several days of entering a consolidation phase. The fall in oil prices was linked to the strengthening of the USD because the two had a negative correlation. If the USD value strengthens, the value of gold tends to fall, and conversely, if the USD value weakens, the value of gold tends to rise.
The Fed's policy may still be predicted to maintain high-interest rates because inflation data is still not enough to support cutting interest rates.

 

[FXcandles]

Back to the boards today open XTIUSD Chart Tradingview

Today oil prices are trying to rebound after falling yesterday due to news of increasing US oil inventories and the Fed's hawkish stance which may still hold back on cutting interest rates because the inflation target has not been achieved.
High-interest rates are still an attraction for investors to get higher yields compared to buying other assets. US crude oil today's price at 79.12 slightly rose 0.39% from the opening price.

The gold market also contracted before falling at $2285 although it eventually rebounded to reach $2319.
Gold may get support from market concerns due to tensions in the Middle East.

 

[FXcandles]

Back to the boards today in the Friday market before FX market was closed

Oil prices are consolidating near the lower band line, still in doubt about the trend. Referring to several indicators such as RSI and MA, there is a possibility of a downward trend, but in this area an indecision candle appears which reflects market doubts, which allows for a reversal.
Oil prices had fallen due to rising US oil inventories but then corrected to around 79.00.

On the other hand, the price of gold now at $2304 is also in doubt waiting for the NFP news which will be released today. In the H1 time frame the Bollinger band is deflated reflecting decreasing market volatility.

 

[FXcandles]

Back to the boards today in Monday market.

Today oil prices are trying to bounce up after falling last week to a low level of 77.69.
The price of US crude oil rose around 0.66% from the open price. Even though it is rising, the price is still in a bearish trend based on the MA 50.

Elsewhere, gold price movements are also quite interesting today, the price appears to be rising with a long bull candlestick on the H1 timeframe.

 

[FXcandles]

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Seeing that today's WTI oil price is moving in consolidation near the lower band, after falling last week, oil prices received a boost due to the weakening of the dollar after the NFP release last Friday.
Oil prices are expected to return to their initial track near the 80 level.
Meanwhile, gold prices also rose yesterday by forming a bull candle.
Market expectations of the Fed cutting interest rates may still be up for debate, but gold may get a boost due to high inflation.

 

[FXcandles]

Back to the boards today

Looking at today's market, US crude oil appears to still be moving in a bearish bias, even though yesterday it rose to a high of 78.89 but fell again to around 77.80. According to the API report, US oil inventories rose slightly but were still far from analysts' expectations, this may be why oil prices tend to remain stable in the previous price range.

Elsewhere, gold prices are also under pressure from the USD, the price appears to be falling at 2308 and there is a breakout of the lower band line.

The Fed's delay in cutting interest rates and leaving interest rates high seems to still have the potential to influence the strengthening of the USD.

 

[FXcandles]

Back to the boards today.

Login to your account to monitor today's market. Oil prices rebounded after falling as low as 76.68 and reached again as low as 78.87.

The increase in oil prices was triggered more by tensions in the Middle East over the Israeli attack on Rafah. Even though Hamas agreed to a ceasefire, it seems that Israel has the ambition to eliminate Hamas.

Elsewhere, gold prices are still in a consolidation phase, prices tend to fluctuate in a tight range above $2300. This is mostly due to the strengthening of the USD where the Fed is still extending high interest rates.

 

[FXcandles]

Back to the boards today monitoring the forex market

Steady oil prices are trading below the 80 price level for US crude oil. Tensions in the Middle East are a geopolitical issue that is of concern to the market, but increasing supply from non-OPEC countries has hampered the increase in oil prices.

Elsewhere, gold prices jumped yesterday by more than $36 in a day, this price spike was triggered by several central banks which finally continued to cut interest rates. Apart from that, data from China showing an increase in exports that exceeded expectations was another trigger for the rise in gold prices. Geopolitical factors are also the reason many people choose gold as a safe haven

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[FXcandles]

Back to the boards in Monday's open

Market today. WTI oil fell 1.33% today, continuing the decline that occurred on Friday at the end of last week. Prices are still below level 80 and are currently around 74 level prices.

Supply from non-OPEC countries seems to have had an impact on reducing oil prices even though the geopolitical situation is still tense and there is no sign of them, especially in the Middle East.

Elsewhere, gaps occur in several pairs such as USDJPY, EURCHF, EURJPY, and CHFJPY.
Meanwhile, gold and silver prices this morning are still in a downtrend bias.