.png)
Hey Traders,
Last week's NFP (non-farm payroll) came out as a surprised as released was far short of expected level, pushing the Dollar lower but was quickly recovered in the later session. This is likely due to the market still having confidence in the job market.
The upcoming US election will be the main highlight of the upcoming week.
Upcoming Economic Release:
S&P500 Futures
The S&P500 closed the week slightly lower, approached short term support level at 5725 region. Bullish momentum persist and remains strong unless price push below 5440 region which would tilt trend to neutral in the shorter time frame. If price breaks below 5725 region, price can potentially trade towards 5440.
Dollar Index (DXY)
Momentum stalled for the United States Dollar Index after it approached the key resistance level. Price retrace earlier on the week but reversed back to resistance region on Friday. Price is still at a elevated level looks to continue trade sideway before the next direction
Spot Gold
Gold closed the month of October higher again, pushing price now to overextended level in the monthly time frame. We will be taking a short position from here, given in our analysis.
Trade Recap (Public Channel)
No Updates
Trade Recap (Private Channel)
No Updates
Trade Analysis / Setups
Gold (Analysis 45-1)
Analysis: Price can be seen as extended on the monthly time frame as explained earlier. We will be taking short position as price is due for a slow in momentum, and if possible a reversal.
Short opportunity: Short at market reopening as high risk trade towards 2714.635 as Take Profit - 1 level.
2024 Market Order Signal Accuracy Accuracy: 100% Wins: 13 Loss: 0 |
2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 11 Loss: 0 |
Join our telegram channel at: https://t.me/traineetraders
Instagram: https://www.instagram.com/trainingtraders/
Facebook: https://www.facebook.com/trainingtraders
Stay safe out there and safe trading!
Comments