Crude oil Looking For a Reversal, while EURCAD Expects More Weakness

Crude oil made a new swing low yesterday, ideally that was a fifth wave within wave C so new reversal up may show up, at least with three legs. However, attention will be on a five wave bounce back above 72.00 as this would signal a new bullish attack for energy. At the same time CAD may see some upside, but maybe not so much against of USD because of overall dollar strength, but maybe against EUR, especially if we consider very good looking bearish set-up while market is below 1.5587.

Crude oil, 1h





If you would like more analysis like this and more knowledge then please visit our website at and subscribe for a 14-day Trial, where you will have access to our fx, gold, silver, sp500, dax, 10yr notes, bunds and btcusd analysis with monthly, daily and intra-day time frames. All of this and more for 1€.

By using website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on are provided for informational and educational purposes only!

By using the information and services of you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.