CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Top 3 charts of the week: USDIDX, Oil, W20

11:46 15 January 2019

Summary:

  • The US dollar index (USDIDX) tries to recoup some losses

  • Brent is painting a potential inverted head and shoulders formation

  • Polish blue chips keep trading beneath the resistance zone

The US currency had a tough time at the turn of the year. Dovish comments from Fed members, mixed US data and market expectations of a rate hike pause undermined sentiment towards the greenback. However, the downward pressures began to ease as of late and the US dollar index managed to rebound. The index has been trading within the upward channel since mid-2018 and the latest test of the lower limit of the channel met with strong reaction of bulls. Moreover, the lower limit is additionally strengthened by the 200-session moving average that runs in the same area. Data stream from the United States remains a key for the US currency and will be closely watched by investors’ from all around the world.

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

Source: xStation5

The situation on the oil market looks interesting as well. Crude prices moved significantly higher recently thanks to news of Saudi Arabia reducing its exports. It looks like the key member of the OPEC cartel will be going to the great lengths in order to restore balance on the oil market and lift prices. Another factor supporting bulls are rumours that the United States is not going to extend 6-month waivers granted to some major buyers of the Iranian oil. From the technical point of view, one can notice that price is painting potential inverted head and shoulders pattern. However, if this pattern is to be played out in textbook fashion, buyers must not allow price to fall beneath the 38.2% Fibo level in the $57-58 area. The neckline can be found in the vicinity of $62 handle.

Source: xStation5

Last but not the least, let us take a look at the Polish blue chips index, WIG20 (W20). The benchmark remained relatively stable amid the latest ups and downs on the global financial markets. The index has been trading within a range since mid-2018, what raises hopes that the downtrend started at the beginning of the previous year abated. Such an outcome puts Polish equities in a favourable position in case stocks all around the world are about to experience a recovery. WIG20 tested the resistance zone ranging above 2350 pts numerous times what raises prospects that bulls will finally manage to break above. Surpassing the resistance zone would pave the way towards the last year’s highs.

Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back
Xtb logo

Join over 935 000 investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 1 March 2024
__cf_bm cc 1 March 2024
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 28 August 2024
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
muc_ads cc 7 September 2024
lang
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 28 August 2024

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id cc 7 September 2024
UserMatchHistory cc 8 October 2022
bcookie cc 8 September 2023
lidc cc 9 September 2022
lang
bscookie cc 8 September 2023
li_gc cc 7 March 2023

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language