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Four Major Trade Setups – U.S. Prelim GDP In Focus

The financial market is consolidating in ranges before the release of major catalysts in the U.S. session. Let's take a look at the top trade setups for the U.S. session.  

Nikkei – The forex trading signal on Nikkei is still active. The idea is to stay in sell below $19550 as it's a crucial level. The stop should be $19850 while targeting $19350.

Gold – Referring to my previous article, 100 Pips Closed In Gold – What’s Next?, the gold traded exactly as forecasted. For now, keep an eye on $1314 to sell and $1306 for buying.

Upon the release of U.S. GDP figure, the bullish breakout will lead gold towards $1319. A downside breakout will lead gold towards $1300 & $1294. Everything is dependent upon economic events.

S&P 500 // SPX – Selling is recommended below $2452 with a stop above, to target $2439.

CAD/JPY – The cross pair is trading at a crucial trading level and can make us a nice profit. I'm looking to stay in sell below $87.85 with a minor stop above $88.05 and take profit at $87.250.

 
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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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