EURUSD
Good morning traders. No major news during EU trading but as the other half of the trading day comes in Bank of Canada rate decision is on the table. Don’t forget tomorrow we have ECB rate decision with a Draghi press afterwards. USD is lower across the board after ISM non manufacturing data yesterday and once more we witnessed that USD in not strong enough to sustain a bullish rally. Therefore we had to alter our counts on several major pairs allowing possibility for more weakness for the USD in coming days.
That said, on the 30min chart of EURUSD we are observing a nice three wave movement to the upside taking place, with the pair trading in the second impulsive wave C, with still room for more gains to follow, probably to around 1.1308. After this region is reached, a possible reversal could be in the cards.
EURUSD, 30Min
Crude OIL
On the 1h chart of Oil, we are observing a nice impulsive movement unfolding from 43 area, probably as a part of a new and bigger bullish view as the recent blue wave 2 correction seems completed. That said, more upside may now be in the cards and the first sing for higher levels would be a break above the 45.61 B swing. Invalidation level is at 43.00 – as long as it holds we are looking to the upside.
Crude OIL, 1H
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