Reasons To Watch For Euro Trading And The Gold Markets Tomorrow Morning

Talking About Euro Trading

We’ve gone ahead and talked a lot in the last week and a half about Euro trading. I’ve been mentioning since way back over here that I’m going to be watching this 1.36 level and then getting much more aggressive in my Euro trading here going forward. The 1.36 level since that time I mentioned it has held on to the digit. In fact, right now as I’m speaking we’re trading at 1.36 even, right this moment. Absolutely incredible how well the key support and resistance levels always work here.

As we go forward we’re going to be watching into the morning the 1.35 80 level, just keep in mind that we have huge announcements coming out. I wanted to put out a news announcement of this as well. There’s a lot going on, tomorrow morning we’ve got a lot of news coming out on the Euro from the ECB and what’s going to happen is that’s going to cause extreme volatility typically does in situations like this. Don’t be so quick if we break through that key 1.35 80 level using my 80/20 rule to want to jump right in there. Especially when it’s right when the ECB come out tomorrow morning. That would be a mistake, we don’t want to do any Euro trading right in the middle of that news but we want that news to come out and that could really set the tone for the remainder of the day for trading that. Really looking forward to being with everyone tomorrow morning on that.

Keeping An Eye On Gold

Another thing I’m going to be watching is Gold. Gold also at key levels. We had this KOBO type formation, kick-off blow-off. Here’s the kick-off then we’ve had several smaller bars here where we’re pushing to the downside. Then we’re looking for a big down move after that. The thing is we haven’t gotten that down move yet and we’ve had multiple accumulation bars that have kicked in now as well. What we’re going to be watching going into tomorrow morning, especially with the ECB announcement coming out anyways, is this equal and opposite type of bar that we have here. We have an accumulation bar here, a distribution bar here, so it’s all about can we break down below the lows that we set yesterday? Or can we break above the highs that we set today? Going to be watching that very closely and then you’ll see how we trade it from there.

That’s going to be a world of opportunities. Air above and air below on Gold and then of course we’ve got lots of air below on the Euro if we can get down below that 1.35 80 level and stay below there after the news announcement. Some great trading ideas going into tomorrow. Looking forward to seeing you guys in the Live Trading Room tomorrow morning or in tomorrow night’s videos. Take care everyone, have a great evening!

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