Trading Setups / Chart in Focus:
EURUSD – Euro/dollar approaching key support area
The EURUSD moved lower today from a pin bar that formed yesterday. However, the underlying trend is still up in this market, and as it approaches the key support area around 1.3300 – 1.3270 we can keep our eyes peeled for a price action buy signal. Note how many times this support near 1.3270 has been hit and that’s it held strong recently; this means the level is clearly strong and significant. Thus, if we see price move into this support and form a 4 hour long-tailed pin bar or a daily chart pin bar reversal, we would then consider a long entry that could potentially lead to a nice 200 pip move to the upside. Alternatively, if no rejection of support or buy signal forms near 1.3300 – 1.3270, and the market closes decisively below 1.3270, we have to consider that the dynamics in this market might be changing.
XAUUSD – Spot Gold continues lower from fakey, sell-side still in play
The spot Gold Market continued moving lower today and we can see it’s fallen significantly lower now from the fakey strategy that we first discussed in our February 5th commentary. At this point, we are mainly interested in the sell-side as we can see this market has been very weak recently. Keep an eye out for price action sell signals at the near-term resistance around the 21 day EMA and $1650.00 – $1660.00 area if price rotates higher in the near-term.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น