Main trade ideas on Forex and CFD markets for 07.09.2018

EURAUD

During the Asian session, EURAUD rose by more than 80 points. The currency pair is close to one of the most important resistance level for EURAUD. I mean 1.6250 level. After the last bounce from this point, the pair was moving in a bearish trend for 1 year. So we have an opportunity to take a long-term bearish position with a small Stop-Loss. 1.59 support is our profit target. Maybe before 1.625 level is tested, EURAUD make a bearish correction that decreases an overbought.

UKOIL (Brent Oil)

Oil storages data was bullish, but decreasing continued despite this. If today’s trading session is not very volatile, a “Dark Cloud” bearish pattern will appear on the weekly chart. On the Daily chart, we can see a “shooting star” bearish reversal pattern. It is a strong signal to sell Brent. Cayman indicator had left the oversold zone. Now Cayman is growing. So we will sell Brent with a target at $73.

So our targets for:
EURAUD – 1.59
UKOIL (Brent Oil) – $73