Chart in Focus: EURUSD and Crude Oil
The EURUSD continues to lose ground as the bearish trend stays intact. Any strength from this point is seen as a potential selling opportunity. Traders may elect to wait for a 1 hour or 4 hour chart price action sell signal if we get a small rally in the coming days.
Crude Oil has moved up to the key resistance level near 54.00 and fallen back away from that level the last two days. Notice that price formed an inside pin bar setup today, just below that key resistance. If price stays contained under 54.00 resistance, we could see lower prices unfold. Price is trapped in a range between 54.00 and about about 43.50
Post By Nial Fuller, Founder of Learn To Trade The Market.
The EURUSD continues to lose ground as the bearish trend stays intact. Any strength from this point is seen as a potential selling opportunity. Traders may elect to wait for a 1 hour or 4 hour chart price action sell signal if we get a small rally in the coming days.
Crude Oil has moved up to the key resistance level near 54.00 and fallen back away from that level the last two days. Notice that price formed an inside pin bar setup today, just below that key resistance. If price stays contained under 54.00 resistance, we could see lower prices unfold. Price is trapped in a range between 54.00 and about about 43.50
Post By Nial Fuller, Founder of Learn To Trade The Market.
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