Strong Setups For This Week and Next

EUR/USDShort setup
XAU/USDShort and long setup
SPX500Short setup

GET $5 OFF OUR VIP GROUP!

  • See trades taken by our analysts
  • Join our chatrooms
  • Access our strategy library
  • USE CODE 'FVIP1' to get $5 OFF!

EUR/USD

EU did come up to resistance and is seeing some pressure, but it is now coming up for a retest. If price makes a higher high, the 200 SMA on 4H chart may be the next level of resistance. However, if the 4H candles can't get passed recent highs around 1.17500, short sentiment stands. Looking at the daily chart, price has clean support around 1.14170s which looks like a potential TP point if the daily candles don't break above resistance in the next few days.

Gold

Gold looks exactly the same as EU, so I wanted to include that short setup we see on the daily at 1900-1910. It looks like price won't maintain price above 1900 for today and that more downside is yet to come. As the market remains under pressure, so does this metal. That level could be something to consider as investors like price breaking 1900 again. If gold can hit 1900 and close above, I see more upside. The US market's volatility will reflect in gold as well, so we are expecting hard price swings in either direction.

SPX500

After a hard runup, the 200 SMA on the 4H showed solid resistance. At some point, the market had to take a breather after talks of another stimulus bill seems more possible. This recent rally on the 4H may be a fake-out for the bulls as market confidence is still low. I remain bearish as long as price stays under the 200 DMA and expect further moves down as the market is priced close to where it opened in last night's futures.


Disclaimer:

Please note that this email is my personal opinion only. I am not a licensed financial advisor, and any information shared or discussed is not to be construed as investment advice. Trading and investing involves a degree of risk, and is not suitable to all investors. Please consult with your financial advisor before making any sort of investment decisions.

Featured Pic: https://specials-images.forbesimg.com/imageserve/5f747329f6973a216d9d44bb/960x0.jpg?cropX1=332&cropX2=5314&cropY1=352&cropY2=3439

Looking for a Broker?

Check out our favorite brokers & reviews! Find brokers available in your country, or our top rated brokers to consider.
Find a Broker
More Articles
January 17, 2021
Weekly Forex Forecast for GBPUSD, CADJPY, GBPAUD, XAUUSD (17-22 January 2021)

Weekly Forex Forecast for GBPUSD, CADJPY, GBPAUD, XAUUSD (17-22 January 2021) Hey everyone! Welcome to this week's forex forecast for the week ending January 22nd, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPUSD, CADJPY, GBPAUD & XAUUSD. GBPUSD Looking at GU on the Daily timeframe, price has been channelling […]

Read More
January 10, 2021
Weekly Forex Forecast for GBPUSD, EURCHF, USDJPY, XAUUSD (10-15 January 2021)

Weekly Forex Forecast for GBPUSD, EURCHF, USDJPY, XAUUSD (10-15 January 2021) Hey everyone! Welcome to this week's forex forecast for the week ending January 15th, 2021. It's so great to be back, I hope everyone's had a fantastic holiday, and I hope everyone's motivated to work 10x harder than last year. I'm wishing everyone nothing […]

Read More
December 21, 2020
Top Trading Ideas for 2021

Throughout the year, we've seen many changes to the way we trade, how we manage risk and how we interpret the markets. The new insights we have gained over the months usually come after years of trading and adapting to ever-changing environments. We've done all that in a matter of months! Up until the New […]

Read More

Related Articles

August 28, 2020
Economic stimulus and the Role of Central Banks

Politics preventing new financial stimulus The economic recovery in the major global economic powers depends on several important factors. One of the most vital part, the spread of the virus and the government's answers to it. With a decrease in daily cases of COVID-19 to 50,000 in the U.S.A. Yet U.S. A remains the most […]

Read More
August 26, 2020
How to Spot a Scammer

Our team has unfortunately received many reports of scammers using our content and pretending to be us.¬†While we will continue to report these accounts to the authorities as we receive reports, we may not always catch them in time. Below our a list of things to look out for before making a purchase to any […]

Read More
August 22, 2020
Legends of Investing - The Story of Warren Buffet

Warren Buffett is one of the most idolised, investors in the world. At the time of writing , his company, Berkshire Hathaway, has a market cap of $495 billion and Buffett himself has a net worth of $79 billion. His approach to value investing, combined with his influence over the companies he invests in , […]

Read More

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram