USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
Brent oil: trading in range
SELL 60.30; TP1 59.65; TP2 58.30; SL 60.60
Brent oil has been trading sideways in the 62.00/58.00 area since the beginning of August. The price is currently at the upper Bollinger band and formed a candlestick with a long upper wick on the H4. In addition, the Stochastic Oscillator has crossed the signal line to the downside. Finally, the price is near the downtrend resistance line from April highs and the 50-day MA in the 62.00/61.80 area. All of it points at the likely correction to the middle and possibly to the lower border of the mentioned range.
Notice that to trade Brent, you need to choose BRN-19V in your MetaTrader.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?