Signals For 25/05/2020
Hey guys, today we will be once again looking at my top seven ideas for the next trading session
First, let’s look at how Friday’s analysis panned out
As usual, we’ll start with EURUSD
I recommended you long is the price holds above 1.089, which it did, so the idea is still valid, first target should be 1.092 and 1.095
Next is GBPUSD. we said that we‘d have to wait and see how the price reacts to the level at 1.2980. Right now the price is actually inside it, so it’s not a good idea to enter either way.
USDCAD – I recommended you short, if there’s a false breakout of the level the price was flirting with, which did happen, after which the price hit my first target around 1.3960
AUDUSD, I told you to short it, which I think is still solid advice, so if you’re in a position still, just relax and wait for the price to hit your tp.
Gold – I told you to long if the price holds above 1735, which regrettably didn’t happen, so no entry point
In Oil is said you long if the price holds above 31.80, which it did, and then hit my first goal.
S&P500 I also recommended you long, if the price held above 2915 it did, and hit my first take profit.
That’s all for Friday’s signals, let’s move on to today’s ideas
EURUSD – if we look at h1, we can see the price holds above an important consolidation, as well as making a false breakout of an important support level, which paints it as quite bullish, which is why i told you to long before, with a first target around 1.092 and the second around 1.096
GBPUSD – the price is still inside an important level, so really, everything depends on how the price reacts, if it holds above – that’s a long, if it holds below, that’s a short
USDCAD. It’s looking pretty bullish, I recommended you take a long around 1.3960 if a reversal pattern formed, first target – 1.4020 and the second 1.4070. Also, like a 30% chance the price will hold below 1.3940, in that case you should short with the first target being 1.39.
Next we have AUDUSD. If we look at it on an h4 timeframe, it’s looking quite bearish right now, the price had a false breakout of an important resistance level around 0.6560 and it’s confirmed by a volume spike. I’d say 60-65% chance that the price will go down till 0.6470. If the price goes back and holds above the level though, we should long with your first target around 0.66.
Gold. It looks pretty bearish. I recommend you short, and your first target will be 1712. If the price goes back up above the level and holds, long with 1750 being your target.
Oil is looking rather bearish. You should short with targets at 32 and 28.50
S&P500. This looks bullish, you should long with a target at 3000.
Thank you very much for reading, I hope you found this informative.
Have a great day!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.