Crude oil is very interesting right now. It is sitting at a major confluence area. I'm expecting price to move up to 44.50$.
Looking for a short entry. Price should go up to 1.3220-1.3250 area before dropping. Either sell the break of the trendline or sell in the sell zone.
This is my trade setup for AUDUSD short play. The confluence of multiple major trendlines with the consolidation pattern that we are seeing in 5 waves right now is a high probability trade.
Major confluence of trendlines. Looking to short audusd. Either wait for an entry near the 3 trendlines or sell the breakout of the consolidation.
Looking to see if the trendline is going to hold or it's going to be broke to the upside.
I'll be looking for long positions on crude oil next week. Let's see
Bearish short term on oil. Bearish divergence on MACD 15 min.
I'm long on CADJPY. I expect a bounce in oil prices and more stimulus from the BOJ. Trendline acting as support right now, the price should bounce off of it.
My opinion is that I'm bullish on the USD long term and bearish on JPY, both opinions are based on fundamental factors. Japan has a huge debt problem and its population is aging (low reproduction rate and no immigration. Looking at the technical factors, on the 4hour chart we can see the price sitting at the bottom of ichimoku's kumo cloud. The cloud is pretty...
Consolidation is almost over, I see usdcad having an impulse down. Gotta watch what will happen with oil, if oil price rebounds at 42$ usdcad's impulse down will be timed perfectly.
My outlook on crude oil is bearish. The rise to $50 was steady and a correction is needed. There is bearish divergence on the MACD and the RSI.