American Dollar is undergoing a correction today and in the calendar we do not have any potential game changers here so this movement is likely to last at least till tomorrow. On few instruments we are close to the important supports, which indicate that this strength on the USD may end soon.
GBPUSD is reaching a combination of three important supports. First of all, we do have S/R level around the 1.28 which was well respected since the April. What is more, there is a 38,2% Fibonacci and the correction equality pattern. Any bullish price action will be a good buy signal here.
SP500 reached the long-term up trendline and created a hammer on a daily chart. That usually should be perceived as a strong bullish sign, especially if additionally strengthened by the horizontal support on the 2420 points.
Gold tested the 1300 USD/oz on Friday and created an evil looking shooting star. Despite that, the price did not fell sharply yesterday but still was able to create another bearish pattern – head and shoulders. Although there is no sell signal yet as we are still above the neckline. Breakout of that support is the thing that the sellers should be patiently waiting for.
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Good Trading Setups on Cable, SP500 and Gold
Published 08/22/2017, 07:27 AM
Good Trading Setups on Cable, SP500 and Gold
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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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