U.S Dollar Up ahead of Bernanke Testimony

Crude Oil:

Looking at the weekly chart for this commodity shows a very distinct bullish channel with clear peaks and troughs. The $80 a barrel mark seems to represent the most significant price barrier for this commodity. As the price currently sits on this barrier, forex traders would be wise to note the recent bearish cross on the daily Stochastic (slow) and the over-bought indication on the daily RSI, both suggesting that the $80 mark is indeed putting heavy pressure on the price of oil. Going short and capturing the downward price move may be a wise decision.