Oil really belonged at around $40 to $50, but we knew that nature hates to take its course and had to get to $100 before getting back to reality.
Simple forex analysis looking at AUDJPY for long side trade. Reasons #1 - 3 bullish channels, #2 - new 52-week high, #3, attractive positive swap for long position.
EURUSD, AUDUSD and NZDUSD print new 52-week highs, USDCAD new 52-week low to mark their strengthening against USD; terminates previous year-year trend.
XAUUSD is setting up a potential breakout if this triangle formation is valid. Gold bulls' wait could be over soon in this sequence 1. break trend line 2. break strong resistance 3. new high.
AUDUSD printed a new 52-week high and terminated a year - year down trend since 2013. Bullish reversal pattern. Over a longer time frame, we can see this as part of long term strengthening.
Prospective EURUSD levels to look at based on previous highs as well as projection from a triple bottom chart pattern that is now very prominent. In addition a quick look at DXY.
WTI and DXY used to show a clear negative correlation. This disappeared in the middle of 2016. Is this a temporary divergence or a permanent change? If the present appearance is temporary only, one of them is going to show it's true colour soon.