Oct. 3: Top Trade Setups For The U.S. Session - Forex News by FX Leaders

Oct. 3: Top Trade Setups For The U.S. Session

Posted Tuesday, October 3, 2017 by
Arslan Butt • 1 min read

Traders, we are experiencing a lack of volatility since the Asian and European sessions as there isn't much on the docket today. Despite the fact, our forex trading signal on Gold managed to close a few green pips for us. I hope we see some action from the U.S. traders. Let's check out quick trade setups …

Quick Trade Ideas

Gold – After closing the trading signal in profit, I'm looking to enter Gold again. But this time, it seems better to wait for the Gold to test $1,264 before we enter a buy position. The stop should be at $1,261 and take profit at $1,280 and $1,283.

S&P 500 // SPX – The U.S. index is trading bullish and has a good resistance at $2,530. We can see that the U.S. stock market index is also trading overbought and has a potential to retrace. Thus, the idea is to enter a sell position below $2,530 with a stop above $2,533 and take profit at $2,526.

EURJPY- The cross pair is heading North to form a double top pattern at $133.10, and the odds are high that it will become overbought. We need to monitor this level as It may offer us selling.

Good luck traders, and keep following us for more trade ideas and forex trading signals

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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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