Elliott Wave Analyisis: EURUSD and Crude Oil

Good day traders!

EURUSD is moving lower, can be already in wave-c, final leg of a corrective set-back that can stop at 1.1800 level or even at 1.1760; near 61.8% Fib. level. But important is that this is a corrective decline; a temporary downward move that may see limited downside.



Crude oil is making a sharp rise, now back above 51.00 after a nice three wave set-back yesterday that found a low near 50.10 as expected. Current rise is strong and breaking above the channel resistance line so new highs are likely coming, up to around 52.00.

Crude OIL, 1H



Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.



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