July 25th – Major Trade Setups For The US Session - Forex News by FX Leaders

July 25th – Major Trade Setups For The US Session

Posted Tuesday, July 25, 2017 by
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!

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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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