In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we advise you to stick with euro weakness and USOIL.
This is yet another video where we focus on these trades. The euro has been on a strong sell trade for a couple of weeks now and still, for now, more downside is expected. If we look at the EURUSD first, we can see that prices have moved to the downside in 11 out of the last 12 trading days. Right now, there is no reason to think we won’t get continuation but only if prices break below 1.0785. There is a similar situation in the EURJPY but the daily level to look out for in this market is 118.46. There is nothing but air below these prices so bear that in mind.
The other market which we are still tracking is USOIL. This market saw a V-shaped recovery in yesterday’s trading, showing a clear rejection to the downside. This means a potential buy trade is still in the pipeline but only above 52.33.
Stick With Euro Weakness and USOIL – Full Video Analysis
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