I am Currently going SHORT on this pair and taking 1.38000 as my overall target.
On the Daily Time frame here we have seen a Head & Shoulder Formation with price recently breaking the neckline and finding some Support just past the Monthly Key Level of 1.46000. I was expecting a pullback to have a retest of Resistance before Sellers taking back over and this...
After the positive NFP Reports on Friday, we are now seeing the Dollar gain back some strength which has seen FX:USDJPY form a Inverted Head & Shoulders for a possible trend change back up to the upside.
Technical & Fundamental Analysis are strong here supporting this LONG Trade idea.
Fib Set-up on the Daily chart for USOIL. If this trendline holds then this would complete the Higher Low. Long term trend should then go on to seek 57.50 for the Swing High to be made. Also holding weekly support on the 61.8% fib.