Weekly Price Action Setups & Key Levels
Second Skies | Jun 16, 2014 03:31AM ET
EURUSD – Line of Least Resistance
As we’ve been stating in our WTI Crude Oil – Buyer on Pullbacks
With the geo-political tensions in the Middle-East on the rise, it is no surprise Oil gained heavily on the week. We expect this bullish momentum to continue for the coming week, although we are anticipating a pullback.
Our Trade Idea: For now, we remain buyers on pullbacks into the 104.75-105.21 range, targeting the 106.75 and 108.30 levels. Only a daily close below 104.30 will invalidate our bullish bias.
key resistance levels , after climbing on renewed fears of Middle-Eastern tensions. Thus far, the PM has cleared through 2 of the 4 key resistance levels, taking out 1267 and 1272. If it can get past 1277 and 1285, then we’ll likely see 1300+ in this coming week.
Our Trade Idea: Maintain a bullish bias while above 1268 and 1257. Weak price action range structure will likely persist till the end of June.
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.