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July 31st – Five Trade Setups For The US Session

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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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