EURUSD and Oil

by Ashraf Laidi
Mar 26, 2009 13:17 | 3 Comments

EURUSD and Oil - EUR Oil Mar 26 (Chart 1)

While the positive correlation between EURUSD and oil is well documented the time lag between the two merits scrutiny as it has turned consistent in favour of the euro over the past 16 months. The chart shows that bottoms in EURUSD have led bottoms in oil prices and so have peaks in the exchange rate and oil. Considering $1.33 to likely hold into mid April, this will likely boost oil into $55. The major downside for the euro is for the repetitive failure to breach above $1.3740 to transition into a new wave of selling into $1.3245 and $1.31 inn which case may trigger $47 per barrel.

 

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Comments (Showing latest 3 of 3) View All Comments
Ashraf Laidi
London, UK
Posts: 0
12 years ago
May 20, 2009 13:03
FL, USD looking quite ugly, Weekly chart shows a version of Head&Shoulder with a lower right shoulder. Weekly Candle signals a possible break towards 80.50--unless falling equities intervene.

Ashraf
FL
GuangZhou, China
Posts: 14
12 years ago
May 19, 2009 12:20
Hi Ashraf,

want to know EUR/USD Tendency Which position now suits in does spatially Quite appropriate ?

i see the US dollar Index at 82 The nearby has certain support, and Dow Has the opportunity test 8860?

Thanks
Justin Lee
HK, Hong Kong
Posts: 16
12 years ago
Mar 27, 2009 3:50
Thanks Ashraf! Get some insight from this analysis.