3 Trade-Ideas for the US Session – ISM Non-Manufacturing In Focus
The market traded in our favor to help us a mature some profit on DAX and CAC, the European indices. In the US session, we may see some ...
Good afternoon, FX Junkies. The market traded in our favor to help us a mature some profit on DAX and CAC, the European indices. In the US session, we may see some action on the release of ISM Non-Manufacturing PMI today. Overall, the figure is forecasted to be negative.
Gold – 38.2% Retracement
Recalling our earlier update, the Gold made a bullish move towards $1,336 and it has formed a neutral candle. It looks like the investors are feeling hesitant to enter the market before News. Anyways, the crucial level of Gold is $1,337.
EUR/JPY – Descending Triangle Pattern
We shorted the Japanese cross at 136.700 during the European session, but the market hasn’t moved a lot and the pair is consolidating right above our entry. Our stop is above $137 and takes profit is at $136.350. All we need is a bearish breakout on the descending triangle in the US session. Keep an eye on it.
S&P500 – The US Index
The US stock market index SPX is facing solid resistance at $2,754 and it has formed a tweezers top pattern right below this level. So, the market is likely to drop below $2,754 up to $2,736 and $2,730. Good luck and trade with care!
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