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!

ABOUT THE AUTHOR See More
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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