Quick Asian Session Recap & London Open! - Forex News by FX Leaders

Quick Asian Session Recap & London Open!

Posted Tuesday, July 11, 2017 by
Arslan Butt • 1 min read

The Asian session gave us two profitable trades despite thin volatility. Our forex trading signals on the Nikkei and the European Index DAX closed at with profit. Whereas, our gold trading signal is still floating in profit while the Oil signals seem a little shaky. Looking forward to more exciting trades in the London session.

Asian Session Recap

– The Nikkei traded bullish adding +0.53% in the Asian session in response to a better than expected Prelim Machine Tool Orders y/y. The economic figure printed 31.1%, which is significantly higher than 24.5% in the previous month.

Australia's NAB business confidence index crawls up from 8 to 9 in the month of June. Anyway, even the figures above 0 signify economic development. Aussie is bullish over the economic release.

– U.S dollar index tossed with a slight bullish change of +0.08%.

– New Zealand's credit card spending was 0.00%, falling short of the expectation of 0.8%.

London Session Forecast

– Gold is likely to consolidate in ranges. Our take profit is $1208, and at the moment is trading at $1209. Considering the market situation, it's highly recommended to always drag your stops at breakeven, once the trade enters into profit.

– The WTI Crude Oil position seems shaky, therefore, I will highly recommend lowering your position in oil. It's trading at $44.60 near our stop loss of $44.50.

– Keep following us as we may have more trade opportunities ahead in U.S session. Good Luck!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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