Daily Forecast: EUR/USD, US OIL
|EURUSD
DAILY FORECAST
Current scenario:
Today after Draghi speech market strated strong and fast uptred, that is looks very strange, because Draghi didn't said anything new to the market. Same time today we have Yellen speech and looking that market now is trading on the key resistance level, very possible that Yellen will be able to turn market down.
An downtrend will start as soon, as the market drops below support level 1.1320fx/1.1365cme, which will be followed by a move down to support level 1.1170fx/1.1240cme.
Alternative scenario:
The uptrend may be expected to continue, while market is trading above support level 1.1320fx/1.1365cme, which will be followed by reaching resistance level 1.1480fx/1.1530cme.
US CRUDE OIL
Current scenario:
Today market started fast uptrend and broken up long-term downtrend (black), but all this was without fundamental data, so seems to me that this break up was false, because market was overloaded by sellers, that closed their deals by sl on current levels. So now market have new power to continue downtrend and can update its lows.
We can expect start of downtrend from resistance level 44.45 - 44.90 with target on support 42.50 and lower, on 41.30 - 38.00.
Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 44.90, which will be followed by reaching resistance level 46.20.
by Anton Kolhanov
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