Here i come with the usual weekly trading outlook:
The pair is moving between the key resistance zone at 1.3150 and the key support area at 1.2800. So, given the confusing price action in the last days, to open some position on this pair i want to wait for some price action signal in one of these two key levels. Right now is not a good deal to trade this market.
The dollar-yen has seen in the last period a strong rally that pushed to the key resistance at 80.30. On Friday, the price shows a clear short signal and then you can expect to see a bearish move in the next few trading sessions. The best thing to do is wait for a long signal at 79.00 area and then take part of this uptrend with the correct entry timing.
SPX 500 Index
The S & P 500 index drove down in the last two weeks. Last week, however, the pair left a price action signal that indicates a possible upward movement in the short term. The key level at 1,400 points held perfectly showing a clear rejection of this area showing a clear possible price bounce. The 1,430 points area is the first resistance where you could see the bears come back to this market again.
The WTI oil is in a clear down trend on the daily chart. Now keep a look for a bouncing and wait for a èrice action short signal between $ 88.00 and $ 89.50. In this way I could enter the market in the direction of the main daily trend. What i expect is on of my price action signals, those that i use every day to trade the market for me as a professional one.
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