Golden Cross Nearing on EURUSD While Oil and TLT Revisit Support

Key points from this video:

1. EURUSD is approaching a golden cross, a situation in which the 50 SMA crosses the 200 EMA. The pair also has a tighter channel within a larger channel that goes back further, and we are at the bottom of the tighter channel. One potential trade opportunity could be to enter at the bottom trendline of the tighter channel, where the 50 SMA is, and to target the upper trendline of the outer, larger channel. Such a strategy would offer a reward/risk of a bit under 3:1.

2. Oil is at the 50 SMA and at support. I believe this is a good level to buy at and in fact have a position at around this level from much earlier in the year. I am, however, keeping capital ready for a re-test of prices around $33-$37 -- preferably the lower part of that range. If price can go there, I will add to my position.

3. TLT is at a key level that has served as support and resistance over the past year. Moreover, the 50 SMA and the 200 EMA are also in this area, and trendlines revealing a pattern of lower highs as well as a pattern of higher lows are converging. This suggests, a breakout and a potential opportunity to speculate on increased in volatility, though personally I remain out as the direction is unclear to me.

Golden Cross Nearing on EURUSD While Oil and TLT Revisit Support