Dax and the EURUSD Update

We got the signal to short the Dax at 12500 and we banked near on 100 points. We would like to see some red Pro-Trading System signals early next week if we are going to see more down side. The EURUSD met the 11742 target we were trading in the Live Trading Room.

EURUSD Daily

We adjusted our target to 11742 and that got hit today. It’s now time to bank those profits and go flat into the weekend.
GBPUSD

The PTS has moved into a white candlestick on the daily indicating no direction. It’s ok to trade the ranges in this market and not the momentum.

DAX Daily

We got a nice trade off on the Dax yesterday and banked 100 points. The resistance at the big round number of 12500 was the perfect short zone.

Gold 240 Min

While I was on IG TV yesterday I spoke about the bounce in Gold and how far this market could go higher. This morning it’s struggling to get anything going. We need to see the low Pro-OBS reading hold and then for price to push higher. Update – Gold is still holding the lows but very slow. Even with the Dollar weakening we are not seeing buyers pushing gold higher yet.

USDJPY Daily

Cannot get anything going in this market. There is no volume and we could be vulnerable to a down side correction. We wait patiently.

Oil Daily
We have had a lovely move higher in Oil but maybe we have gone up too quickly. The Weekly storyteller is now showing a 3 wave short divergence. The daily Storyteller is overbought.
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