July 26th – Major Trade Setups For The US Session

Posted Wednesday, July 26, 2017 by
Arslan Butt • 1 min read

The Asian & European session weren't very exciting, but the good news is that our forex trading signal on gold managed to hit take profit level at $1248. Now, let's get ready for the action waiting for us in the US session. It's gonna be exciting.


 Though we aren't in a gold trade now, I'm still looking for an opportunity to enter the market at $1244 with a target of $1250 & $1256.

Crude Oil is still below $48.60, so let's wait for the EIA reports. A lower than anticipated draw is likely to lead it towards $47.65 & $47.25.

Fed Monetary Policy is due at 18:00 (GMT) in which Federal Funds Rate is expected to remain unchanged at 1.25%. We need to look for clues about the next rate hike, plus tapering of the asset purchase program.

EUR/USD has above support $1.1620 and resistance at $1.1680. We have 2 options here. First is to trade this range, second is to wait for the breakout. It all depends on the Fed now.

Our trading signal on Nikkei is still tossing in profit & loss, though mostly at break even. We are likely to get our TP (take profit) during the US session.

Good luck traders and trade with care!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
The US banking sector is having more troubles than European banks, which should keep the FED dovish, and risk assets bullish
7 hours ago
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments