Price Action was analyzed during this morning’s New York live session. Today is a holiday in both the USA and Canada, but we still wanted to share some high level price action insights that we currently see in the market. We also outlined some potential trade setups for USOIL – be sure to watch the replay in the portal if you missed the live session.
DXY is starting a consolidation, but we are watching price action closely because we’d would like to see it take out the last week’s candle high.
For EURUSD, we are still bearish, targeting ( members only ).
We recommend that traders leave GBPUSD alone for now and focus on EURUSD.
For NZDUSD, look for a run above the previous day’s high before breaking down to ( members only ).
For EURGBP, price has retraced lower than we’d like to see… but price is going to do what it’s going to do, so we’ll continue monitoring it. Just wait for a break of market structure on the H1 before looking for buys.
Price action on USOIL is sideways at the moment, so we don’t have any high probability trade ideas for this at the moment. However, we did offer potential set ups in the live session – be sure to catch the replay if you missed it.
For GOLD, we are still looking for price to reach our upside target of ( members only ).
Turning to BTCUSD price action on the higher timeframe, we’ve taken out a previous week’s low. If we can close above yesterday’s daily high, we may look for reasons to go long. However, if price does not break and close above it, then leave it or look for reasons to go short.
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