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