Oil is in a wedge that will soon break. There is upside potential to this trade, this setup shows our views on the trade. We would monitor the area to buy and then scale out part of it at the first point in orange and then P1 ourselves with the remainder while leaving the rest for the yellow area. We will monitor price and patterns in this box to close off the trade.
USD/CAD has broken a long term uptrend and is now stuck in a bearish channel. It looks very weak at the moment but if it can make its way back up to the top of that channel the risk reward for this trade can be advantageous. I would expect a lower high followed by a lower low.
Looks like there is a possibility of a down move on EUR/USD that may be caused by the narrow ascending wedge + a head & shoulder formation developping.
