A estimativa para os números finais é que o PIB do quarto trimestre se mantenha na casa dos 3,2%, mostrando uma economia aquecida
Can oil reverse after OPEC+ meeting?
2023-07-04 • Atualizado
Saudi Arabia and Russia, two of the world's largest oil producers, have decided to extend cuts to their oil production to support oil prices and boost income. This move comes despite weakened demand due to the sluggish economy. The voluntary reductions, which will continue through next year, have had a limited impact on oil prices, providing some relief to consumers worldwide and allowing US drivers to fill their tanks more affordably. The extension of cuts by Saudi Arabia indicates the uncertain outlook for fuel demand, even as travel increases. Both countries require sustained high oil revenue for their economic objectives. Russia, in particular, faces the challenge of Western sanctions, resulting in lower export revenue. Let's now see whatever clue the price action may hold for us.
US Dollar - H4 Timeframe
We will look at the US Dollar majorly because the Crude oil CFDs I will analyze in this piece are all paired against the US Dollar. The price action, as seen on the attached chart, shows the price leaning on a support trendline which sits perfectly within the vicinity of the 50 and 100 period moving averages; this suggests the likelihood of a bullish price action from the Dollar, which may be short-lived nonetheless.
Analyst’s Expectations:
Direction: Bullish
Target: 103.497
Invalidation: 102.739
XTIUSD - H4 Timeframe
XTIUSD (US Oil) is currently trading within a consolidation pattern. The main reason why I am going to be somewhat conservative on my risk exposure in this trade is the fact that the Dollar seems to be prepping for a bullish recovery, which could negatively impact the price action here and cause a rejection from the resistance trendline I have drawn on the attached chart. To avoid unpleasant experiences, I will patiently wait for a break out of the consolidation zone before taking in trade in the direction of the breakout. Remember, a missed trade is much better than a lost one - protect yourself, folks!
Analyst’s Expectations:
Direction: Bullish
Target: 75.08
Invalidation: 69.78
XBRUSD - H4 Timeframe
XBRUSD is creating a similar price action to what we have just seen on XTIUSD and will, as a result, be treated similarly. I expect to see the price break out of the zone before taking a position. This breakout will be the trigger required before taking a market stake.
Analyst’s Expectations:
Direction: Bullish
Target: 78.71
Invalidation: 74.47
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
You can access more of such trade ideas and prompt market updates on the telegram channel.
Semelhante
As especulações de que as autoridades do BOJ irão intervir para conter qualquer fraqueza adicional do JPY mantêm um limite para quaisquer ganhos adicionais
Opiniões divergentes dos oradores do Fed sobre cortes de taxas prejudica o desempenho do USD
Últimas notícias
Depois da queda no mês de março em cerca de 26 mil vagas de emprego, a expectativa do mercado é de nova queda para 8,790M para o mês de fevereiro do mesmo ano
Nesta segunda-feira, primeiro dia do mês de abril, os EUA liberam os números dos PMIs da S&P Global e do ISM para a indústria
Todas as atenções estarão nos preços básicos do PCE (núcleo) dos EUA, que excluem alimentos e energia para o mês de março, com a expectativa de que os números venham abaixo do mês anterior, que registraram um aumento de 0,4%