In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we observe the euro and Gold both pushing lower. We have also identified a couple of US dollar related trades.
Euro
The first market where we have identified a high probability trade setup is in the EURUSD. In this market, we have been in a mini daily downtrend since late September. As a result, the price has failed to push higher over the last two trading days, in fact, the low of 1.1325 seems to be a significant level of support. So, if we break this level to the downside, then we are very likely to get a strong move lower.
Gold
A similar situation exists in the Gold market, where over the last 4 weeks, we have seen prices push as high as 1244. Since this price, the Gold market has shown signs of rolling over to the downside after prices recently showed signs of exhaustion to the upside. This gives us an opportunity to take a sell trade but only if we get a break below the recent daily lows around the 1220 level.
Euro and Gold Both Pushing Lower – Full Video Analysis
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