GBP Strength and More Oil Weakness | Daily Trade Watch
In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will be looking at GBP strength and more Oil weakness. GBPUSD Let’s begin with the British Pound. With the relative wind behind its sales, for the time being anyway, we are looking at…
S&P 500 starting a new ascending channel?
Short-term Overbought The S&P 500 Index has bounced from its 2600 support and currently is on a short-term overbought condition. This should be evident, since the price is near its 10-day high and close to the mean Bollinger Band line, which is heading down. A typical price action behaviour. The price goes beyond the -2BB line and,…
Over Sold Crude Oil?
US OIL US Oil -1.07% falling sharply, although heavily oversold. We can perceive it because it is in its lowest range of the week and of the last 10 and 60 sessions, as well. The price approaches the $60 level, with is a strong psychological level. MACD As we have said on other occasions, the MACD is a…
NFP and Oil Weakness | Daily Trade Watch
In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will mainly focus on one of the biggest news events of the month, the Nonfarm Payroll. In summary, we will observe NFP and Oil weakness. NFP Of course, employment is an important economic…
Euro at the 1.1300 Level | Daily Trade Watch
In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will be taking a strong look at the EURUSD with the Euro at the 1.1300 level. EUR The Euro has been weak recently and the US Dollar has been strong, which make this…