Euro head fake

The intraday triangle in the euro/FXE broke down signaling a failed consolidation, but I think it is a head fake. $1.30 is too important to give up that easy.

It should take the market higher. Short term traders in USO short should use trailing stops right now.

 Short term bounce in USO? I think so.

Longer term still ugly.

If you took yesterday's "Fade USO with SCO trade" you made almost 10% in less then a day!