USD Trading Outlook (10-05-2016)

Crude Oil‏ (WTI)‏ (M6) Intraday: under pressure

Pivot: 43.77

Our preference: short positions below 43.77 with targets @ 43.14 & 42.50 in extension.

Alternative scenario: above 43.77 look for further upside with 44.33 & 44.88 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
44.88
44.33
43.77
43.36 Last
43.14
42.50
41.95

 

USD/CAD Intraday: bullish bias above 1.2900

Pivot: 1.2900

Our preference: long positions above 1.2900 with targets @ 1.3020 & 1.3080 in extension.

Alternative scenario: below 1.2900 look for further downside with 1.2830 & 1.2780 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1.3130
1.3080
1.3020
1.2958 Last
1.2900
1.2830
1.2780

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