European Session Recap & US Open – 5 Take Profits In A Row!
Arslan Butt•Tuesday, July 18, 2017•1 min read
It has been quite an exciting day so far, four of our forex trading signals have hit take profits in a row and the fifth one (S&P 500) is holding at +40 pips profit. And, it's not over yet. We are about to share another signal on crude oil, probably during the US trading session.
European Session Recap
– UK Consumer prices were stable for the month of June compared with the forecasted 0.2% gains. But upon release, the priced in data weakened the Sterling.
– The Sterling took a beating during the London session upon the release of the CPI report. It fell nearly +100 pips from $1.3118 to $1.3007.
– Eurozone ZEW economic sentiment index fell from 37.7 last month to 35.6 for the month of July. But, the impact was muted.
– Closed 40 pips trade in WTI Crude Oil at $46.35
New York Session Forecast
– First, our trading signal of SPX // S&P500 is making 40+ pips profit. So, traders are advised to book partial profit and move their stops at break even.
– Gold is rising nicely towards the resistance level of $1245, but I definitely wouldn't recommend buying at this high point of the day.
– Crude Oil is making a bearish move. I'm planning to enter the market at $46 to target $46.60. Stay tuned and wait for our trade signal.
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ABOUT THE AUTHOR
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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.
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