5 Things to Watch in the US Session Today

Posted Tuesday, February 6, 2018 by
Arslan Butt • 1 min read

Investors continued to trade the Risk-off sentiment in the absence of fresh catalysts in the market. We pocketed the good number of pips in DAX and CAC, however, there’s still potential for more trades…

Canadian Trade Balance – The Loonie is under the radar due to the Trade Balance which is coming out at 13:30. Typically, it generates more than 50 pips movement in the Canadian pairs.

Gold / XAUUSD – Our sell position in Gold is still active with a stop above $1,345 and take profit at $1,337.  We may see a movement in the Gold during the US session.

WTI Crude Oil – US Oil is struggling to break above the strong resistance at $63.90. So, it looks like an opportunity for a quick to short the Crude for the target of $63.40. Break below $63.40 can lead Oil towards $62.75.

FRA40 / CAC – The French stock market index has completed 50% retracement at $5221 and below this, we can see sellers shorting the index to catch quick pips until $5100.

New Zealand Labor Market Data – At 21:45 (GMT), the Employment Change and Unemployment Rate data will be monitored. Both of the figures are forecasted negative, hiking bearish sentiment for the NZD.

Good luck and trade with care!

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