The same pattern is visible in 
DXY and all major pairs, as well as in $SPY. The recent bullish trends we had are peaking, and already show a reaction right after FOMC.
I would assume oil will go back down, retracing at least half of the surge from $0...
Entering shorts near resistance here might pay off, or at the very least, being aware of this trend to trade pairs that are correlated to oil like
USDCAD and 
USDNOK, or 
USDMXN, or simply shorting some energy stocks.
Keep an eye on it here, if the high holds, it's likely to fall from here for a while.
Cheers,
Ivan Labrie.
DXY and all major pairs, as well as in $SPY. The recent bullish trends we had are peaking, and already show a reaction right after FOMC.I would assume oil will go back down, retracing at least half of the surge from $0...
Entering shorts near resistance here might pay off, or at the very least, being aware of this trend to trade pairs that are correlated to oil like
USDCAD and USDNOK, or USDMXN, or simply shorting some energy stocks.Keep an eye on it here, if the high holds, it's likely to fall from here for a while.
Cheers,
Ivan Labrie.
Trade closed manually
With the bullish news that came out, odds of this being a top dropped substantially. Perhaps there's one more up swing in play.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.