EURUSD GBPPUSD USDCAD NQ GOLDEURUSD remained a seller during the day. The preference is buying within the minimum price base of 1.0550 and 1.0570. These levels make it impossible for us to cover purchase positions. Therefore, purchasing preference is suggested. The hedge is ideally placed at 1.0550 to cover potential sell reversals.
GBPUSD remained a seller. The preference is to buy based on potential lows of 1.21. Any hedge of current purchases should be left at 1.2080. Tomorrow we will evaluate buyers on 1.2120.
USDCAD remained a buyer. The preference is buying over 1.3750. Above 1.38 it enters a possible reversal to purchase until 1.3820 and 1.3830, surpassing annual highs. Current selling hedge places at 1.3805 without TP to prevent new yearly highs. Above 1.38 sales are considered expired.
XAUUSD remains within the highs with a selling preference. Below 1980. We prefer to wait for sales until 1970 and 1960.
Search in ideas for "nq"
EURUSD GBPUSD USDCAD NQ price action today EURUSD remains a buyer. The preference is defined tomorrow at the opening of Europe. At 1.0680 it becomes a buy until 1.07. If seller opens tomorrow we will evaluate sales below 1.0650. As long as we are above 1.0650 we prefer buying strategies around 1.07 as a target.
GBPUSD remains a buyer. Above 1.22 we prefer purchase strategies. We will wait for tomorrow’s opening to evaluate buyers above 1.22 again. Purchases above 1.2250 must be confirmed and in search of targets at 1.2280.
USDCAD remained a seller on the day. Below 1.37 the preference remains selling. If it passes 1.3660, sales are activated up to 1.3650.
XAUUSD unchanged. No opportunity present. Standby preference.
Sunday Prep 9/19 - $NQ/$QQQ Not Alarmed Yet but MUST be preparedThe Nasdaq chart is actually a lot less concerning. There are still some serious levels of support that look ready to be tested. That 50d/quarterly pivot area around 15150ish looks strong. It would be a retest of the recent base that it broke out of and would actually be healthy for us to test, hold, and then find some strength.
The weekly 20sma is still quite a bit always though, so if we were to try and push up this week and end up putting in a lower high, if we were then to roll over and head lower we have quite a bit of room to tumble. Remember, I’m not alarmed yet, but I MUST be prepared for all scenarios.
When you get monthly charts like the ones of the /ES and the /NQ, it’s pretty evident that at some point things need to cool off. And when they do, we will either need to go sideways for a while and digest the move up, or we will need a decent correction to reset. Are we seeing the beginning of that start to unfold? Won’t know until we see some more things occur. But we can definitely make preparations and be aware of the warning signs.
As far as levels of resistance for this coming week, the 15300-15400 area looks pretty thick. But if we get above there then the underside of the 20d is the next area where I will look for sellers to show up. The 15550 level also is of interest to me.