FxWirePro- Major Pair levels and bias summary 
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FxWirePro: USD/CAD uptrend loses steam, remains on bullish path 
WTI crude prices spike above DMAs after stern bullish candle with big real body last week (refer daily chart). For now, upswings seem to be most likely upon bullish DMA and MACD crossovers coupled with intensified bullish momentum as both leading oscillators (RSI & stochastic curves) show upwards convergence to the price rallies.
While consolidation phase in the major trend breaks out symmetric triangle resistance (refer monthly chart). The current major trend appears to be little edgy at 50% Fibonacci levels on shooting star formation, where both leading oscillators on this timeframe signal overbought pressures.
Well, the brent crude, the global benchmark, was up about 0.68% to $76.73 a barrel on London’s Intercontinental Exchange. West Texas Intermediate futures were trading up 0.23% at $69.03 a barrel on the New York Mercantile Exchange.
Energy commodities analysts project more than one million barrels a day of Iran's roughly 2.5 million barrels a day of exports could be at risk. While Washington has contended that countries eliminate their purchases of Iranian oil.
Meanwhile, crude oil prices surge as stock markets hit record highs and the U.S. and Mexico reached a preliminary deal to revamp their trade agreement.
Trade recommendation:
On hedging grounds, we maintain short positions in ICE Brent calendar spread (short ICE Dec 18 vs ICE Dec 19), short NYMEX WTI Sep/Oct’18 time spread and short NYMEX WTI Oct’18 versus long Brent Oct’18 contract.
Currency Strength Index: FxWirePro's hourly EUR spot index has shown 40 (which is bullish), while USD is flashing at -4 (neutral), while articulating at 12:05 GMT.
For more details on the index, please refer below weblink:
