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