Monday, December 10, 2018

Forex Trading Preparation and Analysis - Obervations for Monday December 10, 2018

DISCLAIMER: The information presented here is for informational purposes only. These are not trade recommendations. Please follow your own trading plan. Trading is extremely risky and you may experience substantial losses.

Highlights from my regular review of the Forex and stock markets.  I do a review of all markets I follow each evening to help prepare for upcoming trades.

EURUSD

Today's price action isn't very interesting.  The market did go down to the 1.1360 zone I marked yesterday.  However, price is in no-man's land and there isn't a decent WTF pattern forming yet.

I'll sit this out for now.  Check out the EURUSD chart snapshot below:



USDCAD

CAD is trading in a narrow range pretty close to the 1.34 area where the market dropped from before.  Possible breakout plays here when the London session starts.  Keeping an eye out.


SPX

Looks like the 2600 level is going to be interesting for SPX.  Many stocks are also showing a similar pattern.  If the level breaks, lookout below????


Follow Up Notes:

  • My XAUUSD observation from yesterday would have failed miserably!

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