Market Commentary -
US DX
91.347 -0.012 -0.02%
US DX continues to hover near the 52 week high 91.16 and consolidation at this point augurs well for long positioning.
EUR/ USD
1.19376 -0.00135 -0.11%
The strong support area between 1.2043 (24/07/2012 low) and 1.1877
(07/06/2010 low) is now being challenged. If this breaks the next key support against the Dollar is the 1.1640.
Crude Oil
50.21 +0.17 +0.32%
CL short term trend has been bearish since the initial long term short break on Aug 18th, 2014 at 92.63 and further short term break at Dec 26th, 2014 at 55.06.
Courtesy Associated Press -
News release 4hrs ago -
NEW YORK (AP) — Another plunge in the price of oil is driving stocks
sharply lower. Energy companies led the decline as crude dipped below
$50 a barrel Monday. Other stocks also fell as traders worried that the
drop could indicate a weaker global economy and possibly lead to a
dangerous, wider drop in other prices in the economy.
Gold
1203.450 +10.425 +0.87%
Although we are seeing a decent boucne on the back of Christmas demand in Asia in the longer term, the move below the strong support at 1181 (28/06/2013 low) has confirmed an underlying downtrend and further declines are expected towards the strong support at
1027 (28/10/2009 low).
Pieter Bergli - DeLoren Trust Holdings
Forex education for all
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