Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
EUR/USD: 'Three Methods' pushed the price lower
The last 'Three Methods' pattern pushed the price lower, so all Moving Averages have been broken. It's likely that the pair is going to test the next support at 1.1368 in the coming hours. If a pullback from this level happens next, there'll be an opportunity to have a correction towards the Moving Averages (1.1424).
There's a bearish 'Three Methods' pattern, which means we should watch the closest support at 1.1368 as an intraday target. The subsequent pullback from this level could lead to an upward correction. If so, bulls will probably try to reach the nearest resistance at 1.1424 by the Moving Averages.
This week, the Turkish lira has experienced a selloff, and USD/TRY jumped to the highest levels since the end of August in the 5.88 area.
GBP/CAD made a huge leap to the upside yesterday and got above 1.65 and arrived at the resistance line from May.
One of the most attractive bets on the positive outcome of the trade negotiation is selling XAU/USD.