Oil prices continue to trend higher as US reported a reduction in stockpile and a pretty bullish report from the IEA. Saudi Arabia is also pushing for an extension in oil cuts.
On the technical side the currency pair has been held down for the past few days by the 20MA. Also the 5 and 10 EMA is showing a bearish cross. There is not much volatility right now, measured by Bollinger Bands. This is usually an indicator for a big move coming up.
On the technical side the currency pair has been held down for the past few days by the 20MA. Also the 5 and 10 EMA is showing a bearish cross. There is not much volatility right now, measured by Bollinger Bands. This is usually an indicator for a big move coming up.
Trade Details
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Risk/Reward Ratio
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2.8:1
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Entry
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1.3571
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Target
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1.3490
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Stop Price
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1.3600
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Disclaimer: All posts are just ideas and not recommendations to buy or sell
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