CPI and retails sales, these are two numbers that the market is awaiting now. We will find them out soon but before that let's look for some decent trading setups on the market.
Gold is having a possibly very strong bearish reversal pattern. We are about to make a double top formation on a resistance combined of 3 crucial Fibonacci retracements. On the daily chart, that double top formation has a shape of two shooting stars. All we need for a sell signal is a breakout of the 1290 USD/oz support.
DAX is about to make a new highs but first they need to get out of the tight range between the 13000 and 12900 points. The buying pressure is rising so the bullish breakout is more likely to happen.
GBPJPY had a rough day yesterday. From heaven to hell and back to heaven. Sentiment is again positive. We defended the 38,2% Fibonacci, we still have flag and we are above the crucial support on the 147,5. Candle from yesterday is a beautiful hammer. All that is bullish.
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Good trading setups before the CPI and retail sales from the US
Published 10/13/2017, 07:33 AM
Good trading setups before the CPI and retail sales from the US
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Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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