Trading long on WTI? – Trading AUD/USD short and EUR/AUD long

Yesterday we looked over USD from the Fundamental standpoint and we saw USD strength but we have now had a tiny pullback. 

Investors and traders are looking forward to tomorrow's FOMC meeting to obtain a concept about future Interest Rate Decisions and Tapering but, meanwhile, we can look at Technical Opportunities.

We see one of these simple USD pullbacks on AUDUSD where price action is about to attain top of the trend line and the Stochastic Oscillator is heading into overbought territory.

A reversal of these could give us a great “Sell” opportunity.

We see the same situation with EURAUD but inverted, of course.

Price action has just fallen to touch the low trend line and the Stochastic Oscillator is heading into Oversold but we need to wait for confirmation before opening a “Buy” position.

A far more current similar opportunity exists with EURCHF as price action is wanting to show us a reversal and the Stochastic Oscillator has turned from Oversold and the D and K lines have crossed.

If we consider the Daily chart we see that another target above is 1.093 francs.

This really is just above the 50% Fibonacci level and we can see that price has bounced off the 38.2% degree of support.

Even the Stochastic Oscillator is looking bullish on the Daily chart but be cautious about Thursday's Swiss Interest Rate Decision.

Price Action on WTI can also be giving us a bullish indication above $71 as we can see from our lower trend line.

Recent highs were over $76 but don't forget, we had highs above $78 in June.