How about trading oil?
The oil market is awaiting news from the OPEC meeting, and traders should expect an increase in volatility and sharp moves of the price.
Daily Market Analysis
In-depth technical & fundamental analysis for currencies & commodities
EUR/JPY: bears pull the EUR down
On the daily chart of EUR/JPY, there are implementations of the "Broadening wedge" and "Shark" patterns (88.6% target).
USD/CHF: the franc is gaining strength
On the daily chart of USD/CHF, there is a transformation of the "Shark" pattern into 5-0.
GBP/USD: The pound left the triangle
On the daily chart of GBP/USD, bears managed to move the pair outside the triangle.
XAU/USD: the gold strengthens
On the daily chart of XAU/USD, the successful break of the resistance at 1,229 signal the further rise of the gold.
USD/CAD: the loonie rebounded from the bottom
On the daily chart of USD/CAD, the targets of "Shark" (88.6%) and "Wolfe Waves" patterns were implemented.
USD/CAD: a breakaway gap
The pair closed below the trendline support line on Monday. MACD is declining.
XAU/USD: a slight recovery
While risk-sensitive currencies like AUD and NZD try to figure out whether to close gaps or not, the USD is strengthening versus gold.
AUD/USD: the AUD strengthens
On a daily chart of AUD/USD, the gap-up of the week occurred.
NZD/USD: the kiwi is rising
On the daily chart of NZD/USD, the 113% target of the "Shark" pattern was reached.
GBP/USD: pound is ready for downtrend
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
EUR/USD: euro returned to positive area
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
