Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Friday Setups: Oil, AUD/NZD And DXY- Dollar Index

By Axiory (Tomasz Wisniewski)Market OverviewApr 03, 2020 08:16AM ET
Friday Setups: Oil, AUD/NZD And DXY- Dollar Index
By Axiory (Tomasz Wisniewski)   |  Apr 03, 2020 08:16AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Today let’s start our analysis with an update from Poland; The number one spot on the stock exchange is now occupied by a gaming company called CD Project. You probably recognize some of the games they’ve released like ‘The Witcher’ and ‘Cyberpunk2077’. It’s interesting to see that in these times, usual conglomerates such as Orlen, an oil & gas company or KGHM, one of the biggest copper and silver producers in the world are no longer helming the stock exchange.

Back to our usual assets, oil surged yesterday after U.S. president Donald Trump commented that an agreement between Saudi Arabia and Russia may happen. This is inline with the technical situation; as we mentioned yesterday, the price was above the 21.1 USD/bbl. level, so there’s a good chance for a short-term upswing. What will happen now is based on speculation, but keep in mind, traders just bought the rumor, so we can base our next moves on what we think they will do with the facts.

Next, we’re moving onto a rather unusual pair for our analysis, the AUDNZD. The pair has shown an interesting setup on the weekly chart, where the price is currently creating a shooting star. The place of this candle is not random; after an earlier test, the price created this candle under two important resistances – the dynamic and the horizontal one. Based on all the above, the pair is looking at a long-term negative sentiment.

Lastly let’s take a look at the US Dollar Index it has shown us that appetite for the USD is back. The price used the inverse head and shoulders patter to come back above the 38,2% Fibonacci retracement level. Buyers are not stopping and it seems that they are aiming to hit the 23,6% Fibonacci level. Based on the current momentum, they should hit it soon.

Axiory Analysis
Friday Setups: Oil, AUD/NZD And DXY- Dollar Index

Related Articles

Keith Schneider
Sitting On The Dock Of The Bay By Keith Schneider - Oct 17, 2021

I am sure by now you and your family are feeling the effects of rising inflation.  It has manifested itself in just about every aspect of American life…rising food costs, building...

Friday Setups: Oil, AUD/NZD And DXY- Dollar Index

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email