The Euro slowly drops approaching a very strong horizontal supporting level of 1.0879. So far, we assume that the asset should pull back from this level. Although it can also break the supporting level of 1.0879 through. Let us remind you that large operators keep expanding the short positions in terms of Euro as per the reports provided by COT CFTC. Recently, the operators favor the carry trades, borrowing cheap European currency and selling it to buy the highly profitable currencies:
The currency pair USD/CHF broke the level of 0.9760 trying to close the trading day with a bullish engulfing. In principle, the asset is likely to jump. Should candle settle below the level of 0.9740, potential drop is likely to follow. Should the inverse head and shoulders work its way through, asset’s price might jump:
The oil decided to retest the psychological level of $50 per barrel and leave the marks all over the double bottom along with the neckline formed at the level of 52.15. We assume that the oil should break the neckline and continue the current trend:
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