E Crude Oil And EUR/GBP

Good day traders! Today’s focus is on Crude oil and EURGBP.

Crude oil is trading higher, now making a sharp leg into sub-wave v) of three. Ideally, the higher degree wave three will search for resistance near the Fibonacci ratio of 61.8 and near the upper channel line and from there make a new three-wave pullback into blue wave four.

Crude oil, 1H

EUR/GBP is unfolding a new sharp and strong leg to the downside, which we see it as an extended sub-wave v of three. Ideally, sub-wave v of three will later search for limited downside near the Fibonacci ratio of 161.8 and make a new temporary three-wave reversal higher.

EURGBP, 1H