In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we continue our discussion about how Aussie and Oil are still best in show.
We spoke yesterday about the importance of the 0.6768 as a resistance level preventing prices from pushing lower. This is exactly what we have seen in yesterday’s market. However, that mildly bullish price action is very unconvincing. As a result, we still like this market either marginally below the open of today’s market around the 0.6780 or, better still, below 0.6768 as discussed yesterday.
The USOIL market is another one we have highlighted for the day. However, we definitely need to see this break above recent highs of 58.50. If this happens then we can expect prices to push up to the $60 level. Also, keep an eye on the Crude Oil inventories out at 3.30 pm UK time. A negative inventories number is likely to be bullish for the Oil markets.
Aussie and Oil Are Still Best in Show – Full Video Analysis
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