July 31st – Five Trade Setups For The US Session - Forex News by FX Leaders

July 31st – Five Trade Setups For The US Session

Posted Monday, July 31, 2017 by
Arslan Butt • 1 min read

We started our week with a take profit in gold. That was the only exciting thing that happened during the Asian and European session. Overall, the market is incredibly boring just like every Monday, but the New York session may offer some excitement. Let's take a quick look at the US session forecast.

– Starting with the gold, our trading signal closed at take profit, $1266. I will be waiting for the market to test $1262 to take a buying entry targeting $1270.

– Nikkei – Our trading signal on Nikkei is still tossing around break even and it will hopefully hit our tp at $20030 during the US session.

– EUR/USD isn't carrying any trend today, but rather, having a choppy session. Therefore, I'm sticking with the same old plan of staying bearish below $1.1765, in order to target $1.1695 with a stop above $1.1780.

Crude Oil is trading at $49.65 and it can stay bearish below $49.85 with a target of $48.95.

At 13:45 (GMT), we need to monitor the Chicago PMI. Fifteen minutes later, at 14:00 (GMT), Pending Home Sales will be released from the United States and warrant our attention.

Good luck traders and trade with care!

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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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