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Oil and Forex Trading Alert - Oil Consolidates While the USD Index Moves
October 9, 2019, 6:20 AMYesterday's session brought us another confirming sign of the upcoming oil move. It might not appear as such considering the little change from opening levels, but the shape of the candle and the closing price itself are sending an important signal. Let's see the charts to find out how it'll impact our profitable open position.
Meanwhile, the USD Index popped higher yesterday. Is that move something typical of a back-and-forth trading, or a harbinger of a budding upswing? What do the charts tell us about the days ahead for the USD?
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Oil and Forex Trading Alert - Oil Is Breaking Higher While the USD Index Treads Water
October 8, 2019, 8:18 AMYesterday's session marks a short-term key development in oil. Considering the shape of yesterday's candle, it might not appear as a milestone but it's one nonetheless. Let's see the charts to find out how it'll impact our profitable open position.
Meanwhile, the USD Index continues its short-term consolidation. This back-and-forth trading is marked by tightening volatility and heralds an upcoming move. When is that most likely to come and what do the charts tell us about the days ahead for the USD?
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Oil and Forex Trading Alert - The Oil Rebound Goes On While the USD Index Didn't Yield Much Ground So Far
October 7, 2019, 8:35 AMOil enjoyed higher prices on Friday, closing right on its declining resistance line. Its upswing continues today, boosting our open profits. Where is the oil price move likely to reach? Let's see the charts and to get the most likely target.
Meanwhile, the USD Index closed mostly unchanged on Friday, supported by the relatively strong employment data. Looking at the recent manufacturing readings, Friday's figures really could have been worse. So, can there be more downside action shortly before another leg higher?
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Oil and Forex Trading Alert - Oil Rebounds on Schedule While the USD Index Is Taking Its Time
October 4, 2019, 6:23 AMOil has indeed rebounded from the key support, and our decision to open long positions became immediately profitable. It's up to the bulls to prove their mettle right now - how far can they take the oil price? Let's consult the charts and assess the unfolding move's veracity.
Meanwhile, the USD Index has risen from its daily lows near important supports yesterday. Both of them have been approached yet not tested. Can there be more downside action shortly before another leg higher?
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Oil and Forex Trading Alert - Oil Profits Cashed In and New Position Initiated
October 3, 2019, 7:22 AMYesterday, oil has reached an important support where we conveniently cashed in decent profits. The setup leading to this decline has been mirrored once in recent history - so if it is any guide, will it lead to a bit more downside, or is a price recovery imminent. Importantly, how should we handle that in our trading?
Meanwhile, the USD Index made another run higher yesterday, though the bulls' efforts have fizzled out. Yet again, the index closed near its lows. Is short-term weakness merely likely or also imminent? And again, how to play that in our trading?
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