Top 3 Trade Setups Worth Watching in the US Session

The Asian & London sessions remain in our favor as we made nice profits in gold and EUR/JPY. The market got massively volatile on the release of retail sales figures from the UK. The figure dipped by -0.5% vs. 1.4%, hurting the Bank of England’s August rate hike sentiment. Here’s what we need to see before trading the US session.

Gold – Bearish Trend Continues

Our first gold trading signal closed at take profit near $1,217. We opened another sell position below $1,218 to target $1,213. At the moment, the position is making like 25 pips and all we need is to move our stops at the breakeven point to avoid reversals.

EUR/JPY – Violates Intraday Support

The cross currency pair has violated the double bottom support level of 131.065. It was sort of a descending triangle pattern which was expected to violate on the lower side. So, we decided to open a forex trading signal to sell at 131.150 to target 130.850.

Fellas, the position is floating in profit and very likely to hit take profit. Let’s move the stop loss at a breakeven level to avoid reversals.

Stock Market Indices

Are you wondering why we didn’t open any signal on the indices? Well, this week is fully loaded with top-tier earnings reports which are causing sudden fluctuations in the market. Investors will be eyeing earnings reports from Microsoft (NASDAQ:MSFT), Advanced Micro Devices (NASDAQ:AMD) and Blackstone (NYSE:BX) today.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

AngloGold Ashanti Golden Q1: Profit, Gold Output, ANG Share Price All Soar

1 day ago

Save

Forex Signals Brief April 9: Can S&P 500 Make the Break Today and Close A great Week?

2 days ago

Save

Gold Price Targets $3,382 – Can XAU/USD Rally Amid Trade Hopes?

2 days ago

Save

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments