My trading activity in the FXOpen

[FXcandles]

Back to the boards today monitors the market looking for trading opportunities.

Oil prices rose slightly today after last weekend prices fell to a low of 77.70, the price is now near the level of 78.70 but is still within the previous price range.

Elsewhere, gold prices appeared to be falling yesterday looking for a retracement after last week's rally.

This week the market is waiting for US inflation data which will be released on Wednesday and also Chinese economic data which may affect gold and oil prices.

 

[FXcandles]

Back to the boards today

Login to your trading account today to see that the price of WTI oil fell again yesterday and is still moving within the previous daily range. The higher-than-expected US PPI data strengthens the possibility of the FED holding interest rates high to suppress inflation.

It is estimated that prices will still move within a range and will still tend to be bearish even though oil has received support and geopolitical risks.

Elsewhere, gold prices rose yesterday but were stuck at a high of 2380, important US inflation data means that the Fed is still holding a high interest rate policy which makes gold less attractive.

 

[FXcandles]

Back to the boards today

Yesterday's CPI data showed that the lower value than forecast had a negative impact on the USD, after the news release the market responded quickly causing volatility to increase sharply in several forex pairs.

US Crude oil also experienced a price spike yesterday after falling to a low of 76.35, the price soared up to 78.64.
The spike in volatility did not only occur in oil, other instruments such as gold and silver also jumped high as a result of CPI news.

 

[FXcandles]

Back to the boards today

Oil prices are still trading below the 80 price level for US crude oil or WTI, even though oil is receiving support from geopolitical risks, it still seems to be in a weakening trend which may indicate that the global economy is in decline.
On the other hand, CPI data which is lower than forecast is expected to trigger the Fed to cut high interest rates which can encourage economic growth.

Elsewhere, gold prices also pulled back after a sharp rally following the impact of the weakening USD. In the long term low interest rates can push up the value of gold because investors prefer to reduce the opportunity cost of cash and bonds.

 

[FXcandles]

Back to the boards in Monday's market

Today's oil price is still below the 80 price level for US Crude oil, in the last week oil prices rose because cold US inflation data caused the USD to weaken and increase oil prices. On Monday, the news that caught the market's attention was the PoBOC report for China, which is the country with the world's highest demand for oil.

On the other hand, Gold got a boost from market expectations for the Fed to cut interest rates because inflation is fading, but Fed officials are still hesitant because the inflation target is 2%, market rumors suggest the Fed might cut interest rates at its September meeting.

 

[FXcandles]

Back to the boards today

The price of US Crude oil is still below the price level of 80, even though yesterday it was as high as 80.03, the price fell again to reach a low of 78.61.

The increase in oil prices occurred after the PBoC released unchanged interest rates, and the decline in oil was suspected by FED officials' doubts that the 2% target interest rate could be achieved, they considered the decline in inflation to be temporary.

Elsewhere, yesterday's gold price pulled back after recording a high of $2,450, the price fell again to a low of $2,407 before finally rising to $2,428. Analysts predict that gold will still get a boost from geopolitical risks and the possibility that the Fed will cut interest rates in September.

 

[FXcandles]

Back to the boards today

Looking at oil prices yesterday, it appears that prices fell, continuing the previous day's decline.
Oil price draws a bearish candlestick with a long body. A possible reason why oil fell was the increase in US oil inventories last week.

US oil supplies increased this week by 2.48 million barrels at the end of May 10 according to The American Petroleum Institute (API).

Elsewhere, the gold price entered a consolidation stage, the gold price moved more within the daily range after reaching the new ATH.

The weakening of gold's rally may be due to the Fed's hawkish stance in keeping interest rates high for longer.

 

[FXcandles]

Back to the boards today

Running the platform today and looking at the CFD market
US crude oil prices continued to fall yesterday after FOMC meeting minutes summarized the decision to maintain high interest rates because the 2% inflation target had not been achieved. After the FOMC, the USD currency strengthened, causing oil prices to fall, as did gold and silver. But will this impact last long?
WTI oil prices are now trading around 77 price levels and are in a downward trend.

 

[FXcandles]

Back to the boards today

Looking at today's market changes, US crude oil prices are still trading at around 76 price levels. Even though yesterday it rose above the price level of 78, the price fell again to a low point of 76.31. This may be a question because in the midst of geopolitical risks, oil prices should have risen due to the possible risk of disruption to the supply chain, but what has happened is that prices have actually fallen.

Maybe the market doesn't care about geopolitical risks and/or maybe because inflation is high and causes purchasing power to decrease, or maybe because US crude oil supplies are increasing so there is more supply than demand.

Whatever the reason, today's oil price fluctuations are expected to remain within the previous price range.
Elsewhere, gold and silver prices fell again, continuing Wednesday's bearish market. It seems that the influence of the FOMC minutes has had an impact on gold and silver to this day.

 

[FXcandles]

Back to the boards today

On Monday, the forex market has been operating, monitoring today's market, the price of WTI oil is still trading below the 80 price level, it seems that it is still difficult for oil prices to pass this level even though geopolitical risks still have potential for global security.

Maybe because the FED is still maintaining high interest rates which makes oil prices reluctant to rise, or maybe because US crude oil inventories are increasing

However a deflated Bollinger band reflects reduced volatility, which allows for a transition signal.
On the other hand, gold is also still consolidating, the only thing that might be a challenge for gold is the Fed's interest rates which are still high, while geopolitical risks support gold as a safe haven asset.

 

[FXcandles]

Back to the boards today.

Today's oil price is still below the price level of 80, after yesterday's recovery the price fell slightly by 0.04% now at around 78.42. Oil prices recovered as of Friday last week and continued on Monday.

This week's market will probably focus more on US PCE data which may have an impact on financial markets. On the other hand, the Fed's policy of waiting for the inflation target to reach 2% and taking longer to maintain high interest rates may affect oil demand due to the lack of liquidity in the real economic sector.

Elsewhere, the precious metals Gold and Silver are trying to recover after falling last week. It seems that the market response to the FOMC minutes is starting to fade along with global geopolitical risks which allow more people to choose gold as a safe haven, thereby boosting demand.

 

[FXcandles]

Back to the boards today, a look at the changes in the CFD market

Yesterday, WTI oil prices continued their bullish streak, for three consecutive days oil prices tried to rise after falling to a low level near the 76 price level. This rising price may triggered by the weakening USD amidst the decreasing influence of the Fed's interest rate easing which analysts expect in September. On the other hand, investors are waiting for the OPEC+ meeting which will be held on June 2.

Analysts warned that oil supplies could be reduced further if OPEC members continue with current cuts of two million barrels per day. This will increase oil prices due to concerns about supply in an already tight market.

Elsewhere, the price of gold is also still in the consolidation stage, even though it rose to $2363 but fell again to around $2356, several analysts are looking for selling positions in gold even though in three days D1 showed a weak price upward trend. Meanwhile, Silver yesterday rose to a high of 32,240 before finally falling to around 31,830.

 

[FXcandles]

Back to the boards today

Analyzing the oil market via CFD brokers, today WTI oil is trading still below the price level of 80. Yesterday the price fell again amid hawkish comments from one of the Fed officials, Minneapolis Fed President Neel Kashari, who predicted there was a chance of an increase in the Fed's interest rate. High interest rates can hinder economic growth and reduce oil demand.

Elsewhere, gold prices may be bearish amid waning investor hopes for the Fed to cut interest rates in September. It seems that the Fed still wants to ensure that inflation will decrease in the following months with an inflation target of 2%.

High interest rates encourage investors to buy treasuries with higher yields than gold, allowing a strengthening USD to affect the value of gold. However, on the other hand, gold is supported by geopolitical risks so investors will look for safe-haven assets

 

[FXcandles]

Back to the boards, Friday before the forex market closes

Oil prices continued their decline yesterday and still failed to stay above the price level of 80, the price of WTI oil has fallen again to the price level of around 77.40 and there may be a further decline.

Today's focus for investors will be paying attention to the PCE core price index data which is estimated at 0.3%, this is one indicator for measuring inflation that may be taken into consideration by Fed policymakers
.
Yesterday's gold price was also still in the consolidation phase and although it had fallen, it rose again due to the downward revision of US GDP.

 

[FXcandles]

Back to the boards in Monday market.

Today the price of WTI oil rose from a low of 76.19 to a high of 77.30, this may provide a positive sentiment technically because the price is near the support zone.
The OPEC+ meeting on June 2 seems to provide positive sentiment on oil.

Elsewhere, the price of gold is also in the support zone, last week gold fell even though it rose high after the PCE news was released.

This week there will be NFP news and several other important news that have the potential to drive market volatility. This Monday there will be ISM Manufacturing PMI data for May.

 

[FXcandles]

Back to the boards today

Oil prices failed to continue their increase and instead fell to a low level of 73.69 after breaking level 76 which is oil support. This means that oil failed to maintain support and allowed the current level of 76 to become a resistance area.

Even though OPEC+ agreed to extend their oil output cuts, it seems that market players don't care about it and oil prices tend to be on the bearish side.

Elsewhere, gold prices rose again after last weekend's decline, gold prices rose from a low of $2314 to a high of $2354, and prices are now consolidating in the range of $2344 and 2352.

This week there will be important news that may cause volatility to increase from the news ADP Non-Farm Employment Change and also Non-Farm Employment Change

 

[FXcandles]

Back to the boards today

Today the price of WTI oil has risen to the price level of 74.20 after falling to a low level of 72.42 on Tuesday.

The increase in oil prices this time is expected due to market optimism that the Fed may cut interest rates towards the end of the year.

According to a survey by Reuters almost two-thirds of economists currently predict a rate cut in September.
CME FedWatch Tool data has shown the probability of the Fed cutting interest rates in September by at least 25 basis points has increased to nearly 70.0%, up from 47.5% in the previous week.

Meanwhile, gold prices were also seen rising yesterday, giving hope for market optimism in safe-haven assets amid increasing investor confidence in the possibility of the Fed cutting interest rates in September.

 

[FXcandles]

Back to the boards today

It seems that the price of US crude oil is starting to have hope of rising again after falling to a low level of 72.42, the current oil price is at 75.43 and has drawn the last two bull candles.
The rise in oil prices may have been triggered by several central banks cutting interest rates,
The BoC and ECB have lowered interest rates in recent days and the SNB may cut rates in June
And hopes of the Fed cutting interest rates in September are increasing.

Elsewhere, gold also experienced an increase, drawing a bull candle with a high of $2378 and a low of $2353, gold is correlated with the USD, and hopes that the Fed will cut interest rates can provide positive sentiment for gold.

 

[FXcandles]

Back to the boards today, on Monday at the beginning of the week.

US crude oil price is still moving below the 80 price level, Oil price is still moving below the middle band line on D1 timeframe, last week the price drew a bearish candlestick with a rather long shadow above the candlestick with a small body on FXOpen in Tradingview.

The News related by Oilprice. Antonio Guterres secretary-general of the United Nations condemned oil and gas advertisers. This attack on the oil industry is due to its concern about painting an apocalyptic picture of a future that leads to mass extinction caused by the oil and gas industry.

Oil prices have fallen to a low level of 72.42 on June 4, and are trying to recover to move near the 75 price level.

Elsewhere, last week gold prices fell sharply after NFP news showed actual data was higher than forecast.

On Monday, several banks in Australia are on holiday and banks in China are also on holiday, allowing for a decrease in volatility because some banks are not operating.

 

[FXcandles]

Back to the boards today

Seeing that WTI oil prices rose yesterday due to market optimism regarding increased demand for the summer, oil prices have risen from a low of 74.96 to a high of 77.82.

On D1 timeframe Bollinger bands draw a flat channel with wide band spacing reflecting high volatility.
MA 50 below the lower band draws a slight descending channel reflecting the market downtrend.

Elsewhere, gold prices are consolidating after falling in the last week after NFP data gave impetus to the strengthening of the USD. This week investors will focus on CPI and Fed rate data on Wednesday.