In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we observe GBP and EUR weakness with US Indices strength.
Firstly, let’s begin with the potential for the EUR, GBP and AUD to continue to weaken against the USD. In the EURUSD, we can see that the 1.1441 has been a strong level of support and resistance for a long time now. It has also been the price of yesterday’s high. As a result, from a technical perspective, a break below yesterday’s low of 1.1350 would constitute a good opportunity to push prices lower from here. The same can be said for the AUSUSD. Again, a break below yesterday’s low of 0.7176 could give us another good high probability to push prices lower below this level.
The final market we are focusing on today is the S&P 500. We have now seen 2600 as a long-term level of support of prices and believe this could be the same again this time around. So, we are looking closely at a strong breakout above yesterday’s high of 2647, with the expectation for prices to push higher.
GBP and EUR Weakness with US Indices Strength – Full Video Analysis
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