Oil has hit a 15-month high on the back of optimism over the Opec deal which needs to be sorted out by November 30. But, with a record long position building across the combined benchmarks, a disappointment could leave some exposed. Full report to come within the hour....
Day trade
Trade view / 02 June 2016 at 5:57 GMT

Sentiment turns clearly negative for GBPUSD

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

Wednesday’s bearish bias was confirmed by further selling pressure. The stalling at the 100 day moving average proved temporary and a second down day in a row resulted (it was in fact the fourth down day in the last five).

Last week's gains have been entirely reversed. So although a reaction is likely with signals oversold, underlying sentiment is now clearly negative.

Management and risk description

A move to 1.4407 means the stop can be lowered to break even.


Entry: Sell in 1.4435/40 area and any rally to 1.4484.

Stop: 1.4522 bid.

Target: 1.4407, 1.4385 and 1.4360.

Time horizon: Intraday, London 1600 (1500 GMT) Thursday June 2.

Averages break
Averages Break
Long-term trendLong Term

Both charts: CQG. Create your own charts with SaxoTrader; click here to learn more.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
02 June
assi assi
Good morning Alan, what do you think about EURUSD...?
02 June
AlanCollins AlanCollins
Just reduced longs at 18 Assi as there is a lack of momentum (covers most markets in Europe) but remain mildly positive


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