Though USD in general has room to go up while market continues to price in the possibility of another rate hike this December, and there's also uncertainty whether OPEC will agree to reduce oil production on December 6, from a technical analysis standpoint, it's highly likely for this pair to reverse soon after hitting (or almost reaching) its 2018 high near 1.34.
Setting up sell stop order few pips below the current candle low, with TP near 1.30 (support in weekly chart) and SL just few pips above 1.34 (100 fib level in both daily and weekly charts).
cnbc.com/2018/11/27/el-erian-the-fed-will-have-to-go-through-with-four-rate-hikes.html
finance.yahoo.com/news/production-cut-opecs-december-meeting-isnt-guaranteed-181939694.html
nasdaq.com/article/goldman-oil-prices-set-for-rebound-in-2019-cm1060839
Daily:
Weekly:
Confidence: C (might have gotten way too excited to setup a short order for this pair, better to wait for bearish confirmation and new levels actually especially high probability of getting whipsawed depending on the outcome of G20, US-China trade talk and OPEC meeting)
Setting up sell stop order few pips below the current candle low, with TP near 1.30 (support in weekly chart) and SL just few pips above 1.34 (100 fib level in both daily and weekly charts).
cnbc.com/2018/11/27/el-erian-the-fed-will-have-to-go-through-with-four-rate-hikes.html
finance.yahoo.com/news/production-cut-opecs-december-meeting-isnt-guaranteed-181939694.html
nasdaq.com/article/goldman-oil-prices-set-for-rebound-in-2019-cm1060839
Daily:
Weekly:
Confidence: C (might have gotten way too excited to setup a short order for this pair, better to wait for bearish confirmation and new levels actually especially high probability of getting whipsawed depending on the outcome of G20, US-China trade talk and OPEC meeting)
Catatan
Put a trailing stop at around 1.323 to lock in profits in case this reverses soon.
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