Market Commentary -
US DX
92.011 -0.011 -0.01%
The weekly resistance is now at 94.32 with immediate support at the 10-day moving average crossing at 90.92. The DX is largely being driven higher by expectation the U.S. Federal Reserve has to make a move in April. The DJ jumped 212.88 points, or 1.2%, to 17,584.52 to emphasis this point in the wake of falling crude oil prices.
EUR/ USD
1.183425 -0.003555 -0.30%
EUR/USD is still in this downtrend which has been precipitated since May 2014. The strong support area between 1.2043 (24/07/2012 low) and 1.1877
(07/06/2010 low) is now coming under severe stress and a break lower to the key support at 1.1640 is increasingly looking likely with little upside to look for in the Euro zone.
Crude Oil
48.75 +0.10 +0.21%
The price of oil stabilized near a six-year low. U.S. crude oil rose 72 cents to close at $48.65 a barre. CL is in deeply oversold territory and expected to trade in the 45 -60range for the rest of the year.
Gold
1212.495 -4.555 -0.37%
Gold remains technically weak in spite the recent rising
short-term buying interest. 1027 (28/10/2009 low) is the next downward target and largely expected as the Christmas sales dies down. But any short term rise above the strong resistance at 1255 could alter the outlook.
Pieter Bergli - DeLoren Trust Holdings
Forex education for all
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