July 25th – Major Trade Setups For The US Session
Arslan Butt • 1 min read
After another boring day, we seem to finally be approaching something exciting. I'm talking about the New York trading session. I can see some good trade setups which can be taken advantage of upon the release of US consumer confidence figures. Let's take a quick look:
– S&P 500 has broken above the descending trend line resistance at $2470, and it's likely to target $2476 during the US session. We can enter a buy, but to be more confident about it, we should wait for the US fundamental release.
– Gold has already made its move below $1251 and the positive consumer confidence will help us target $1243.
– Our forex trading signal is struggling and approaching our stop at $47.10 after the surprising increase in the European German Ifo business climate figures. Fingers crossed.
– DAX is heading north, in our favor. I'm looking to target $12333 in the US session. Hopefully, the better than expected German business climate will support the Dax bulls.
– Lastly, buckle up for CB Consumer Confidence 14:00 (GMT), it's expected to be 116.5, below the previous figure of 118.9. Let's see how the market surprises us.
Good luck guys, and wait for more signals!