Oil is testing support
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
EUR/USD is not in the best conition
Information is not investment advice
The market has shown that EUR/USD remains a sell on its attempts to recover. The pair is currently correcting up after yesterday’s selloff which was caused by the weak European PMI and strong US retail sales. There are two areas at which bears will likely resume selling: 1.1255 and 1.1280. We’ll pick the lower one for the trade but you can monitor the market and enter higher if possible. Downside targets are at 1.1215 and 1.1200.
Elizabeth Belugina
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