EURO up late on 2nd Greece Bailout

EURO up late on 2^nd Greece Bailout

U.S. Dollar Trading (US) a largely non eventful day with many markets closed for holidays. Early Asia Tuesday we had reports of a sentiment shift from Germany in regards to helping Greece which saw a sharp spike higher in the EUR/USD. In US stocks, closed given Bank Holiday for Memorial Day. Looking ahead, May CB Consumer Confidence is forecast at 66.5 vs. 65.4.

The Euro (EUR) was under pressure initially on weekend reports of Greece not hitting budget cuts required to receive bailout money. This was reversed sharply on the German sentiment shift reports late in the day that Greece would receive support without restructuring. Overall the EUR/USD traded with a low of 1.4256 and a high of 1.4353 before closing the day around 1.4370 in the New York session. Looking ahead, German May Unemployment change forecast at -30k vs. -37k previously.

The Japanese Yen (JPY) holiday markets kept the major to a 20 pip range with most of action reserved for crosses with EUR/JPY rallying into the end of the day. The outlook for the USD/JPY is largely dependent on US monetary policy. Overall the USD/JPY traded with a low of 80.75 and a high of 81.05 before closing the day around 80.90 in the New York session. UPDATE April Industrial Production at 1% vs. -15.5% previously.

The Sterling (GBP) remained subdued but well supported near highs.  The GBP/USD has broken above resistance in recent days and is threatening to begin an uptrend. Overall the GBP/USD traded with a low of 1.6448 and a high of 1.6510 before closing the day at 1.6480 in the New York session.

The Australian Dollar (AUD) consolidated near 1.0700 and is threatening to resume the uptrend with the correction seen over in stock markets. Concerns include China and Greece but if these fail to materialize then a retest of 1.1000 could be seen in coming weeks. Overall the AUD/USD traded with a low of 1.0673 and a high of 1.0730 before closing the day at 1.0700 in the New York session. UPDATE Q1 Current Account at -10.45bn vs. -8bn previously.

Oil & Gold (XAU) was quiet but edged higher towards $1540. Overall trading with a low of USD$1534 and high of USD $1539 before ending the New York session at USD$1538 an ounce. Tested and found support under $100 a barrel. WTI Oil Closed -$0.20 at $100.40 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4068	1.4125	1.4390	1.4423	1.4455
USD/JPY	80.34	80.64	80.90	82.00	82.23
GBP/USD	1.6132	1.6268	1.6540	1.6584	1.6661
AUD/USD	1.0510	1.0609	1.0745	1.0794	1.0877
XAU/USD	1504.00	1513	1537	1543	1550
OIL/USD	98.00	100.00	101.35	103.00	105.00

Euro – 1.4390                    

Initial support at 1.4125 (May 27 low) followed by 1.4068 (May 26 low). Initial resistance is now located at 1.4423 (May 11 High) followed by 1.4455 (50% retrace of 1.4940-1.3970)

Yen – 80.90

Initial support is located at 80.64 (May 16 low) followed by 80.34 (May 13 low). Initial resistance is now at 82.00 (Big Figure resistance) followed by 82.23 (May 19 high).

Pound – 1.6540

Initial support at 1.6268 (May 26 low) followed by 1.6132 (May 25 low). Initial resistance is now at 1.6584 (76.4% retrace of 1.6747-1.6058) followed by 1.6661 (May 3 high).

Australian Dollar – 1.0745

Initial support at 1.0609 (May 27 low) followed by the 1.0510 (May 26 low). Initial resistance is now at 1.0794 (61.8% retrace of 1.1012-1.0441) followed by 1.0877 (76.4% retrace of 1.1012-1.0441).

Gold – 1537

Initial support at 1513 (May 24 low) followed by 1504 (May 23 low). Initial resistance is now at 1543 (May 4 high) followed by 1550 (76.4% retrace of 1577.57-1462.45).

Oil – 101.35

Initial support at 100.00 (Intraday Support) followed by 98.00 (Intraday Support). Initial resistance is now at 103.00 (Intraday resistance) followed by 105.00 (Intraday Resistance).

Written by Anthony Darvall - easy forex

The bull markets vs. Bear markets-an explanation

In the operations of financial markets, often hear the "bull market", phrase, or sometimes "Bear Market". The exact origin of these two terms are under discussion, is very simple. "Bull Market" is a financial instrument indicated an upward path. In other words, people buy it. However, the "bear market" in which financial instruments traded on a way down, because people sell.

These definitions are obviously the most basic of these two types of contracts. There are other ways to distinguish the type of market you are in, instead of these terms and conditions. Operators use several types of indicators or criteria in the table to decide formally call a market a "bull market" or "bear market" or not.

One of the most common ways is to use moving averages as representing the general trend. When players do this, the direction of the trend, they tend to use a term moves more slowly or more recently moving average to determine the direction. For example, you can use the 200-day moving average is the overall trend is upwards or downwards. The idea is that the slower moving average, every 200 to change direction much more slowly in a hurry. Defines a general trend of moving average slope. In other words, if the bottom left top right, we have some. Of course, it works in the opposite direction.

Another common way to see if we have a bowl of market trends is to use a weekly basis. areas of support and resistance is moving along the diameter graph of fashion shows which way the market again to go together. graphical programming better, these trends are more reliable. A reliable trend lines for use is one that shows a weekly chart. This is because it takes a lot of information that the transaction price to drive around, either upward or downward.

But it really does not matter if you call a bull market or negotiated market, you should know that is the term used by most traders. It is simply a function of the jargon. Like the rest of the world is the professional world of currency of their own language, that all the actors speak to communicate information to another. Now that you know what a bull market or a bear, has an understanding of some of the most basic terms it is spoken.

By: Christopher Lewis / DailyForex.com

Basics of Fundamental Analysis in the Forex Market

Traders typically approach financial markets in one of two ways: either through technical analysis or fundamental analysis. The reality is that history is full of traders who have had very successful careers as traders that employed both of these types of analyses.

In fact, in Jack Schwager's best-selling classic, Market Wizards, two of the traders interviewed are Ed Seykota and Jim Rogers. Rogers is quite adamant in his statement that he believes it is impossible to make a living as a technical trader. He goes so far as to say he has never met a rich technician. Seykota actually shares the exact opposite story. According to Seykota's own interview, he was a struggling trader when he traded according to fundamental analysis. It was not until he became a technician that he started to make a living trading financial markets.

As stated, successful traders throughout history have employed both technical and fundamental analysis. In this article we are going to break down the basic principles of fundamental analysis in the forex market.
Fundamental Analysis is commonly defined as a method of evaluating a specific security in order to determine its intrinsic value by analyzing a host of economic and financial data. In the foreign-exchange market, a security would be a currency. Market participants are continually analyzing the emerging fundamental from a country in order to determine the intrinsic value of the country's currency. There are several key economic indicators that every trader should understand on a basic level. Fluctuations in the data of these key indicators will generally cause the value of a currency to rise and fall.

Interest Rates
These are the single greatest driver of currency value over the long-term. Most Central Banks announce interest rates each month, and these decisions are watched very scrupulously by market participants. Interest rates are manipulated by Central Banks in order to control the money supply in an economy. If a Central Bank wants to increase the money supply, it lowers interest rates, and if it wants to decrease money supply it raises interest rates.

Gross Domestic Product (GDP)
GDP is the most important indicator of economic health in a country. A country's Central Bank has expected growth outlooks each year that determine how fast a country should grow as measured by GDP. When GDP falls below market expectations, currency values tend to fall and when GDP beats market expectations, currency values tend to rise.

Inflation
Inflation destroys the real purchasing power of a currency, and, therefore, inflation is very bad for the economy in most circumstances. Each year a normal rate of inflation between 2-3% is expected, but if inflation begins moving beyond the upward targets set by the Central Bank, a currency value will actually rise due to expectation of an imminent rate hike. Higher interest rates tend to fight off inflation.

Unemployment
We will discuss consumer demand in a moment, but people are basically what drive economic growth; therefore, unemployment is the backbone of economic growth. When unemployment levels increase, it has a devastating effect on economic growth; consequently, when the labor market contracts and unemployment increases, interest rates are often cut in an attempt to increase the money supply in the economy and stimulate economic growth.

Consumer Demand
As stated in the previous point, people are what drive economic growth; as a result, healthy consumer demand is essential to the normal, healthy functioning of an economy. When consumers are demanding goods and services, the economy tends to move forward, but when consumers are not demanding goods and services, the economy falters.
Even if you are a technical trader, it can still be very helpful to understand these basic elements of fundamental analysis. The best forex course will oftentimes offer further insight into how the emerging fundamentals drive price behavior.

Written by ForexTraders.com

Forex Charting

A Forex chart is used by traders to conduct a technical analysis, which helps them to make better trading decisions. Forex charts contain real time data and keep traders updated on currency trades. It is possible to make Forex trading decisions based on the interpretation of foreign exchange charts.
Forex charts help make the difference between Forex trading success and failure. It is crucial that a trader knows how to read Forex charts, as technical analysis will help them to become aware of new trends, and to make the right purchase or sell decision at the correct time.

Forex traders are always looking out for reliable Forex currency charting tools which are user friendly. Many options are available in the market today which help to customize a Forex currency chart. A foreign exchange chart can be selected for any currency pair, and any type of Forex chart, which is needed, can be used. It can be a line, bar, candlestick, or any other type, the trader prefers. A number of different charts are available on the Easy-Forex® platform to suit different traders' requirements. There are day Forex charts, one hour Forex charts and five minute Forex charts, which are also known as tick Forex charts.

Candlestick Forex Chart

The candlestick Forex chart is quite closely linked to the Forex bar chart, the only difference is that it contains price direction information. The candlestick Forex chart bar consists of the body and the shadows. The opening and the closing price makes up the body of the candlestick Forex chart. In case the opening price is lower than the closing price the body is left or blank. And when the opening price is higher than the closing price the body is filled with color. The color of the body solely depends on the trading platform.  Certain candlestick Forex chart patterns have prediction qualities.

Bar Forex Chart

The bar Forex chart is the most popular and a more common one. It contains plenty of information about the price movement of the currency pair. The high and the low price are united with the help of the vertical bar. The bar Forex charts help for better visualization of the market movements, which is the reason, it’s the primary choice of most traders.

Lines Forex Chart

In the lines Forex charts, the prices are displayed as a point in the map. The resultant price points connect through a line called 'price line'. The line Forex charts are a characteristic of the trend of the price of the currency but provide little additional information. The line Forex charts have different time periods. The time period selected is the point to point price period. The bigger time period the wider the chart becomes.

source: easy-forex.com

Automated Forex: an essential tool for the modern-day trader

Automatic forex is an essential tool in the arsenal of today's merchant, offering great opportunities. Automated forex software is based on various forex trading signals, evaluating whether to buy or sell a currency pair at the time of 'year. This program is very much on the professional advice to make decisions based on the character selection due to a technical analysis of survey instruments. The signals then generate buy / sell decision.

Why Automation?

Automated forex trading allows trade to be implemented in real time from anywhere in the world, reduce losses from the trading book. Manuel's trade is negatively affected by losses due to late time of purchase / sale of currency pairs to trade volatile and fast moving environment change.
Automated Forex trading can be used to carry out smooth, round the clock trading, regardless of time zones in the markets. These new generation automation technologies to provide greater protection to the capital of the operator, but also saves time and energy. Input / output jobs can be performed more quickly using the technique automated Forex Trading Manual cons.

What to look for in automation?

The aim should be to build automated forex system, which is available on the Internet. Trading software, which uses Fibonacci tools and other frequently used indicators such as RSI, MACD, Bollinger bands, oscillators, etc., usually give reliable results. Automated Forex should also apply the principles of progressive scientific theories, such as those based on chaos theory, quantum mechanics, fractal geometry and wavelet theory. A good automated system should provide signals for traders to benefit from currency movements in the short term and long term. It 'also possible to set realistic and then make a profit.
Robot Forex, Forex Automation, a popular trading tool designed to eliminate the psychological factor in trading, which may be harmful at times.

Forex Application Program Interface program, which is another essential tool in the world of automation in forex trading, allowing users to: receive real-time Forex speed API, set and modify stop-loss, to submit requests for trade and orders to make a profit.
For those who are involved in currency trading, day trading automated forex would certainly be a welcome addition to an already attractive investment vehicle.

IMF Greece Scare hurts Euro

IMF Greece Scare hurts Euro

U.S. Dollar Trading (US) both data releases disappointed with US Q1 GDP unchanged at 1.8% and Weekly Jobless Claims creeping higher to 424k vs. 400k forecast. Stocks dipped but ended higher with a large rally towards the end of the day. In US stocks, DJIA +36 points closing at 12394, S&P +4 points closing at 1320 and NASDAQ +20 points closing at 2746. Looking ahead, G8 Meetings All day. May UoM Sentiment forecast at 72.4 vs. 72.4 previously.

The Euro (EUR) the Euro slumped on talks the IMF was not going to give Greece its June bailout. The market bounced after absorbing the news when most analysts commented it was just a threat to speed up the passing of more austerity measure. EUR/JPY is being whipped around inside the Y114 -116 range. Overall the EUR/USD traded with a low of 1.4066 and a high of 1.4207 before closing the day around 1.4135 in the New York session. Looking ahead, May EU Economic Sentiment forecast at 105.7 vs. 106.2 previously.

The Japanese Yen (JPY) USD/JPY crashed on the back of US data missing expectations finding support in the lower Y81 region. Most crosses bounce however with equities late in the US session. Overall the USD/JPY traded with a low of 81.07 and a high of 82.04 before closing the day around 81.25 in the New York session. UPDATE April CPI at 0.6% vs. -0.1% previously.

The Sterling (GBP) continued outperforming the rest of the market taking advantage of the weakness in the EUR/GBP to push GBP/USD towards 1.6400. GBP/JPY consolidated above Y133. UK Consumer confidence soared in what is regards as ‘royal wedding’ effect last month. Overall the GBP/USD traded with a low of 1.6272 and a high of 1.6410 before closing the day at 1.6385 in the New York session. Looking ahead, May HPI forecast at 0.1% vs. 0.2% previously.

The Australian Dollar (AUD) pushed higher above 1.0600 with support from the improving risk appetite and supportive comments from RBA deputy governor talking up Australian banks. The outlook is improving for the AUD as solid support was found below 1.0500. Overall the AUD/USD traded with a low of 1.0508 and a high of 1.0650 before closing the day at 1.0625 in the New York session.

Oil & Gold (XAU) pulled back below $1520 after failed to continue the rally in recent days. Overall trading with a low of USD$1514 and high of USD $1531 before ending the New York session at USD$1520 an ounce. Oil Consolidated the rally above $100 a barrel. WTI Oil Closed -$1.10 at $100.23 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.3970	1.4068	1.4265	1.4341	1.4423
USD/JPY	80.64	80.94	81.10	82.23	82.79
GBP/USD	1.6132	1.6268	1.6445	1.6484	1.6500
AUD/USD	1.0443	1.0510	1.0705	1.0717	1.0794
XAU/USD	1504.00	1513	1525	1533	1550
OIL/USD	98.00	100.00	101.00	103.00	105.00

Euro – 1.4265                    

Initial support at 1.4068 (May 26 low) followed by 1.3970 (May 23 low). Initial resistance is now located at 1.4341 (38.2% retrace of 1.4940-1.3970) followed by 1.4423 (May 11 high)

Yen – 81.10

Initial support is located at 80.94 (May 18 low) followed by 80.64 (May 16 low). Initial resistance is now at 82.23 (May 19 high) followed by 82.79 (Apr 27 high).

Pound – 1.6440

Initial support at 1.6268 (May 26 low) followed by 1.6132 (May 25 low). Initial resistance is now at 1.6380 (61.8% retrace of 1.6747-1.6058) followed by 1.6500 (Big Figure).

Australian Dollar – 1.0705

Initial support at 1.0510 (May 26 low) followed by the 1.0441 (May 25 low). Initial resistance is now at 1.0657 (May 13 high) followed by 1.0717 (61.8% retrace of 1.1012-1.0441).

Gold – 1525

Initial support at 1513 (May 24 low) followed by 1504 (May 23 low). Initial resistance is now at 1533 (61.8% retrace of 1577.57-1462.45) followed by 1550 (76.4% retrace of 1577.57-1462.45).

Oil – 101.00

Initial support at 100.00 (Intraday Support) followed by 98.00 (Intraday Support). Initial resistance is now at 103.00 (Intraday resistance) followed by 105.00 (Intraday Resistance).

Written by Anthony Darvall - easy forex

Oil Back above $100 a barrel

Oil Back above $100 a barrel

U.S. Dollar Trading (US) stock markets rebounded and commodities added to Tuesday’s gains even with weak US data. April Durable Goods fell -3.6% vs. +4.1% previously. The Dollar gave up most of the week’s gains except against the Yen. In US stocks, DJIA +36 points closing at 12394, S&P +4 points closing at 1320 and NASDAQ +20 points closing at 2746. Looking ahead, Weekly Jobless Claims are forecast at 400k vs. 409k previously. Q1 GDP forecast at 2.1% vs. 1.8% previously.

The Euro (EUR) did well to find support and reverse in Europe with the market ignoring rumors of snap Greek elections and extending the relief rally. June German GFK index disappointed at 5.5 vs. 5.6 previously. Overall the EUR/USD traded with a low of 1.4019 and a high of 1.4119 before closing the day around 1.4085 in the New York session. Looking ahead, ECB President Trichet Speaks.

The Japanese Yen (JPY) EUR/JPY and GBP/JPY led the market higher with the risk on trading in European and US session helping reverse recent losses. Tonight’s US jobs data is important for the uptrend to develop with a sub 400k print potentially leading to a break out. Overall the USD/JPY traded with a low of 81.78 and a high of 82.22 before closing the day around 81.95 in the New York session.

The Sterling (GBP) was the strongest currency in the market overnight surging across the board. EUR/GBP reversed below 0.8700 and GBP/JPY soared above Y133. Q1 GDP was confirmed at 0.5% Q/Q. Overall the GBP/USD traded with a low of 1.6129 and a high of 1.6297 before closing the day at 1.6260 in the New York session. Looking ahead,

The Australian Dollar (AUD) sentiment shifted in Europe but not before fresh multi month lows printed on a break below 1.0480 support. Strong commodity and the bounce in US stocks the main catalyst but concerns over Greece and China still persist and could derail relief rally attempts. Overall the AUD/USD traded with a low of 1.0439 and a high of 1.0562 before closing the day at 1.0530 in the New York session.

Oil & Gold (XAU) Consolidated the recent rally but failed to break above $1530 resistance. Overall trading with a low of USD$1521 and high of USD $1532 before ending the New York session at USD$1526 an ounce. Oil rallied above $100 with topside momentum increasing. WTI Oil Closed +$1.73 at $101.32 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.3855	1.4000	1.4155	1.4200	1.4346
USD/JPY	80.00	81.32	81.90	82.28	82.79
GBP/USD	1.6000	1.6132	1.6310	1.6321	1.6380
AUD/USD	1.0443	1.0500	1.0585	1.0657	1.0717
XAU/USD	1485.00	1504	1528	1533	1543
OIL/USD	98.00	100.00	101.50	103.00	105.00

Euro – 1.4155                    

Initial support at 1.4000 (Big Figure Support) followed by 1.3855 (Mar 15 low). Initial resistance is now located at 1.4200 (Big Figure Resistance) followed by 1.4346 (May 20 high)

Yen – 81.90

Initial support is located at 81.32 (May 23 low) followed by 80.00 (Big Level support). Initial resistance is now at 82.28 (April 28 low) followed by 82.79 (Apr 27 High).

Pound – 1.6310

Initial support at 1.6046 (50% retrace of 1.5345-1.6747) followed by 1.6000 (Big Level Support). Initial resistance is now at 1.6321 (38.2% retrace of 1.6747-1.6058) followed by 1.6380 (May 12 high).

 

Australian Dollar – 1.0585

Initial support at 1.0500 (Big Figure Support) followed by the 1.0443 (Apr 19 low). Initial resistance is now at 1.0657 (May 23 high) followed by 1.0717 (May 13 high).

Gold – 1528

Initial support at 1504 (May 23 low) followed by 1485 (May 18 low). Initial resistance is now at 1533 (61.8% retrace of 1577.57-1462.45) followed by 1543 (May 4 high).

 

Oil – 101.50

Initial support at 100.00 (Intraday Support) followed by 98.00 (Intraday Support). Initial resistance is now at 103.00 (Intraday resistance) followed by 105.00 (Intraday Resistance).

Written by Anthony Darvall - easy forex

Euro Testing 1.4000, Stocks Down

Euro Testing 1.4000, Stocks Down

U.S. Dollar Trading (US) stocks weakened in the US session under pressure from weak Chinese and European PMI surveys. The ongoing European debt crisis and the subsequent Euro selling is leading to USD strength across the board. In US stocks, DJIA -130 points closing at 12381, S&P -15 points closing at 1317 and NASDAQ -44 points closing at 2758. Looking ahead, FOMC Member Fisher Speaks. April New Home Sales forecast 0.3% vs. 0.3%.

The Euro (EUR) the negative outlook placed on Belgium combined with the widening Greek/Portugal/Ireland bond spreads to send the EUR/USD to 1.4000. A few looks below in the European session met some strong buyers and the pair reversed in the US session to 1.4070. May EU Manufacturing PMI at 54.8 vs. 58 previously. Overall the EUR/USD traded with a low of 1.3968 and a high of 1.4136 before closing the day around 1.4040 in the New York session. Looking ahead, May German IFO forecast at 110 vs. 110.4 previously.

The Japanese Yen (JPY) cross selling provided a good opportunity for buyers and the market rebounded back to Y82 in the late US trade. EUR/JPY tested support at Y114 and was able to finish stronger at Y115. The outlook is very mixed with the market correction in stocks and Oil is threatening the longer term uptrend. Overall the USD/JPY traded with a low of 81.30 and a high of 82.10 before closing the day around 81.80 in the New York session.

The Sterling (GBP) hit intra month lows below 1.6100 as the USD strength persistence given weak stocks. Rumors that Moody’s will be downgrading UK banks also hurt the GBP with EUR/GBP finishing higher even with the Eurozone issues. Overall the GBP/USD traded with a low of 1.6055 and a high of 1.6235 before closing the day at 1.6100 in the New York session.

The Australian Dollar (AUD) broke below the Key 1.0500 level but once the selling subsided bargain hunters emerged to buy the high yielding Aussie. The outlook is largely dependent on stock movement with 1.1000 now seen as a medium term top and 1.0000 the bear’s target. Overall the AUD/USD traded with a low of 1.0477 and a high of 1.0642 before closing the day at 1.0520 in the New York session.

Oil & Gold (XAU) Gold edged higher as sovereign bond yields crept higher in the Eurozone. Silver is struggling to follow the yellow metal as the recent plunge scared off speculators. Overall trading with a low of USD$1503 and high of USD $1518 before ending the New York session at USD$1516 an ounce. Oil crashed lower finding support under $97 a barrel. WTI Oil Closed -$2.4 at $97.70 a barrel.

TECHNICAL COMMENTARY

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.4000	1.4021	1.4070	1.4346	1.4500
USD/JPY	80.00	80.94	81.80	82.28	82.79
GBP/USD	1.6000	1.6091	1.6120	1.6308	1.6380
AUD/USD	1.0443	1.0500	1.0550	1.0717	1.0953
XAU/USD	1462.00	1485	1518	1526	1543
OIL/USD	96.50	98.00	98.40	100.00	103.00

Euro – 1.4070                    

Initial support at 1.4021 (Mar 28 low) followed by 1.4000 (Big level support). Initial resistance is now located at 1.4346 (May 20 high) followed by 1.4500 (Key level)

Yen – 81.80

Initial support is located at 80.94 (May 18 low) followed by 80.00 (Big Level support). Initial resistance is now at 82.28 (April 28 low) followed by 82.79 (Apr 27 High).

Pound – 1.6120

Initial support at 1.6091 (Apr 5 low) followed by 1.6000 (Big Level Support). Initial resistance is now at 1.6308 (May 13 high) followed by 1.6380 (May 12 high).

Australian Dollar – 1.0550

Initial support at 1.0500 (Big Figure Support) followed by the 1.0443 (Apr 19 low). Initial resistance is now at 1.0717 (May 13 high) followed by 1.0953 (May 3 high).

Gold – 1518

Initial support at 1485 (May 18 low) followed by 1462 (May 5 low). Initial resistance is now at 1526 (May 11 high) followed by 1543 (May 4 high).

Oil – 98.40

Initial support at 98.00 (Intraday Support) followed by 96.50 (Intraday Support). Initial resistance is now at 100.00 (Intraday resistance) followed by 103.00 (Intraday Resistance).

Written by Anthony Darvall - easy forex.