As we wait for several economic and political news announcements, we are certainly ready to trade the waves and the Pro-Trading Systems signal. Patience and preparation is key here because there are some excellent trading opportunities down the line.
We are still in a wave 4 pull back on the EURUSD and after the way it has been traded this morning, we could see higher prices with a move up to 119.12 which is a Pro-Trading System target. From there, we could see the start of a wave 5 push down. This would take prices below 1:15. At that turning point we will set up the Pro-Trading System entry, stops, and targets.
The is doing the same as the Euro. We are looking for some more upside today and tomorrow but the price will soon reverse with a Pro-Trading System sell signal.
The FTSE has a Pro-Trading System buy signal on the daily chart. If this fails, we will soon see red in the Pro-Trading System which could take prices down to 7560.
Crude Oil Daily
This is an interesting chart. The 4-hour time frame is trying to push up, but the daily has major resistance at 6614. We don’t see any clear signals on this chart so we are standing aside.
Who would want to trade gold with a chart this messy? The Pro-Trading System has now turned white which indicates slow sideways markets, however, I do think we are going to get a small push higher.
We have the potential for a move higher. We did not get the confirmation yesterday. There are better opportunities out there
This is our pick for a potential long trade. We have a trend predictor green arrow on the weekly chart. So this week should be in an up week.
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