September 6th – Three Trade Ideas for the U.S. Session! - Forex News by FX Leaders

September 6th – Three Trade Ideas for the U.S. Session!

Posted Wednesday, September 6, 2017 by
Arslan Butt • 1 min read

The financial markets are trading calmly, with very little volatility and trading volume. Perhaps the investors are awaiting the New York session to jump in the market. Aside from trade setups in forex and commodities, I'm seeing nice trades in indices as well. Check it out…

Three Trade Ideas

Nikkei – In my previous update, I wrote about a pending order (buy limit) on the Nikkei at $19320 in order to target 19600 this week. I'm sticking with the same plan with a stop loss at $19200.

DAX – German index is trading in a narrow range of $12060 – $12200. We can benefit from choppy trading by entering a buy above $12060 with a stop at $12040 to target $12150.

On the flip side, we can sell below $12190 with a stop above $12220 and take profit at $12080.

S&P 500// SPX – It's a good buy at $2450 with a stop below $2441 and a take profit at $2470.

Lastly, investors are advised to keep a close check on Canadian currency pairs as the Bank of Canada is expected to release a monetary policy decision at 14:00 (GMT).

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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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