European Session Recap & US Open – 5 Take Profits In A Row! - Forex News by FX Leaders

European Session Recap & US Open – 5 Take Profits In A Row!

Posted Tuesday, July 18, 2017 by
Arslan Butt • 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

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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