Oil Reached 2018 Highs, German Elections Affect Euro

Oil Reached 2018 Highs, German Elections Affect Euro

Latest news

  • Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
  • Oil has grown by over 80% since April 2020 as the global demand recovers after the Covid-19 crisis. ING says oil ‘continues to be supported by broader concerns over tightness in energy markets’. Citigroup remains “outright bullish” on crude oil as well as gas.
  • The euro is falling at the start of the week amid the German election. There is no clear winner so far. Olaf Scholz of the Social Democrats stepped ahead of Chancellor Angela Merkel’s conservatives.
  • In the US, House Speaker Nancy Pelosi is going to pass a $550 billion infrastructure bill this week. It should be good for the US stock market. S&P 500 has been rallying up for the fourth day in a row. 

Tech outlook

EUR/USD seems weak. The pair is likely to reach the lows of August 19 at 1.1670, if it breaks through the psychological mark of 1.1700. On the flip side, if it manages to jump above the recent high of 1.1740, it may rally to the 50-day moving average of 1.1775.


Gold has reversed up from the strong support level of $1750. It lies at both the lower line of the triangle pattern and the 100-day moving average. It may reach the resistance level of $1780 soon if the uptrend continues. The jump above it will push the pair up to the psychological mark of $1800.


USD/JPY has jumped above the resistance level of 110.50 and pulled back. Indeed, the rally was quite fast and the pair needs a break. It can be just a short sell-off before further growth to 111.00. Support levels are 110.50 and 110.00.




What to Trade on August 22–26?
What to Trade on August 22–26?

How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3­­ Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera