July 12, 2012
- in Uncategorized by schooloftrade
Euro Currency Futures Technical Review
830am EST Jobless Claims come out lower than estimates, this does not
show us a third week in a row of higher claims, so the markets will react
accordingly.
show us a third week in a row of higher claims, so the markets will react
accordingly.
The Euro Currency Futures are trading at the price
channel lows, and since the market personality is so bearish, we want to keeping
selling with our wave-pattern however, just like any other market, we are
always concerned when selling into support or when we’re oversold in momentum.
Gold futures are trading in almost the PERFECT
spot today. We can see three easy price structure clues
which tell us to BUY these lows as support on gold. First, we’re at the lows of the price wedge. Second, we’re at the bull price channel lows. Third, we are at the bullish AB=CD Pattern support
zone. All three of these clues, when
tied in with the dollar index correlation we may see this buying opportunity
quite early in the session today.
