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.
Oil is sinking fast
SELL 56.60; TP1 54.40; TP2 53.00; SL 57.50
WTI oil went down below the important daily Moving Averages and slid below the 38.2% Fibonacci retracement of the 2018-2019 advance at 57.30. There are lower levels where the price may go: 54.40 (50% Fibo) and 52.95 (200-week MA). the outlook will remain bearish as long as the price stays below 57.30.
The commodity is hurt by the uncertainty about the US-China trade tensions and the future of global oil demand for the rest of the year. In addition, American oil inventories remain near a 22-month high.
Notice that to trade WTI, you need to choose WTI-19N in your MetaTrader.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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