By David Ruscelli
Technical analysis of forex markets with price action strategy.
After many days, at last we get moving! I like to see markets move, nice today, very good, we gained profits both with price action silver long order we’ve seen in the yesterday’s post and non-directional trading strategy.
Who traded long on silver now is about 50 pips profits, I suggest to move stop loss at break even, for more info about stop loss and break even in the forex trading manual blog section there’s a post teach you what you need to know about. Article about break even is here.
Gold is classically correlated on silver, today it moved in the same way and break with a lot of power 1620. We’re going towards about 1670.
This index show dollar strenght against other currencies, it will be very important monitor it in the next few hours. There’s an important support at 10.000, it could bounce or break with power, this behaviour will reflect automatically on other currencies and commodities US dollar correlated.
USD INDEX D1
Eur break out with power key level 1,2430, I see next resistance at 1,2550 and 1,2650.
As we know recently the markets are very choppy, most of all eur agains us dollar, as we’ve seen us dollar index is near to an important key level and it could get a short temporary bounce on EUR/USD and other couples with us dollar as numerator or quote currency.
That’s all for today, have a good trading!