Four Instruments To Trade In The US Session - Forex News by FX Leaders

Four Instruments To Trade In The US Session

Posted Monday, July 24, 2017 by
Arslan Butt • 1 min read

The market hasn't shown any clear trend so far and has been trading sideways. Monday often comes with thin trading volume and volatility due to a lack of top tier catalysts. This leaves us trading the technicals. Let's take a quick look at the major setups ahead!

WTI Crude Oil has an immediate resistance at $46.35. Breakage above this level will open further room for buying until $46.75.

Gold closed our position at stop level of $1257 after floating in 20+ pips profit. At this moment, it's still holding near our previous selling level of $1255. The idea is to wait for the US session and take another sell below $1256 with a minor stop loss of 20 pips at $1258.

S&P 500 // SPX is holding above an immediate support level of $2464. Keep a close eye on it as the market is in selling below this level and it's likely to show more buying above $2464.

Similarly, the Japanese Index, Nikkei, is also consolidating above the crucial trading level of $19857. A break below this will offer us further selling until  $19775.

We are looking for further trade opportunities in the US session and will keep you posted. Stay tuned for updates…

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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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