Hey Traders,

Just like the rest of the markets, Euro has been pretty range bound this week, slowly gaining ground on the dollar in this channel:

Will be watching for channel support until broken, with big level on the upside being recent high and trendline connecting two swing whighs on the daily chart:

On the downside previous support level right in the retracement zone - highlight in blue on hourly chart and then some very nice set ups on the daily chart that probably won’t be hit too soon: 1.36 fib confluence and the trendline on the daily with rising 50ema right above. On a deeper sell off there is big level of 1.34 which is also fib confluence, 50% retracemeng of the whole move up for the euro and also area of turning up 200dma.

Hope this helps

Vlad

Hey Traders,

clear indecision in gold market this week with with all 4 daily candles havning long wicks (dojis)

Still seeing best probability set up with daily 50ema and trendline together, right below 50% retracement of the whole move. If this continues trendline and 50ema will botch catch up to the bottom of the orange range:

Blue channel was containing gold for the first few days of the week and after break out gold is just trading sidways reacting well to 50% retracement form 985 high , top of the range and also 200ema on hourly charts.

Will be keeping an eye on this range for further direction. It is rather unusual for gold to trade in such narrow range for such a long period of time, so will be expecting fireworks soon.

Cheers

Vlad

last 6 ES closes 939.5, 938.75, 940.5, 940.5, 940.25, 938

Hey Traders,

as of today there is more volume in the U contracts than the M’s

aka will be trading ESU09 instead of ESM09.
Same goes for euro, jumping to ECU09 (6eu09 for some platforms)
Will continue to trade Q’s in gold GCQ09

Still not sure why the bother rolling over index futures instead of trading just one continuous contract and messing up charts ,but it is what it is.

Cheers

Vlad

Update 3:55pm EST:
2 day 50% retracement at 938

Hey Traders,

sorry I wasn’t around today and haven’t been updating much this week, I am trying to get some other things sorted out and hopefully will be back to normal very soon.

ES had a big runup today and some minor technicals broke d own, will be watching daily ambush and vwap at ~947

Cheers

Vlad