Good evening team,
We are turning our attention to commodities rather than currencies tonight as we are still in the bullish camp. We will take a fresh look at the DXY tomorrow leading into the NFP and unemployment data.
Brent Oil has set up an inverted head and shoulders structure suggesting further upside should occur. However, I would like to see a larger move to the upside before entering.
Brent Oil – 1 Hour Chart
Trade Setup: BUY STOP, entry price 73.30, stop loss 71.80 and take profit target 76.30
Stop loss: 150 pips
Take profit: 300 pips
MT5 codes: XBRUSD or UKOUSD