Crude oil can be currently unfolding a corrective retracement, which can see support at the first support target, at 65.90 level, or lower near the 65.50 former swing low. A rally in minor five waves would suggest a completed correction and more upside to follow.
Crude oil, 1h
EURAUD made five-waves up from the 1.5775 lows, which can suggest a change in trend, in minimum three waves. We now see a completed five-wave rally at the 1.5953 level, and current sharp weakness as part of an unfolding correction, which can unfold three minor waves, and search for a bounce near the 1.5847 level.
EURAUD, 1hGet the 5 most predictable currency pairs