Gold had some nice moves in the past days! It is now hitting the upper trend line. Some pull back is expected. At the same time the Euro also gained and the Dollar weakened. Todays ECB meeting might be important for todays move. I expect a strengthening of the Dollar and a temporary pull back on gold. Long term I am bullish on gold with the global economy...
Coming into a time of global slowing growth and possible soon also an U.S. earnings recession with the stock market already in a down trend it seems a good time to make some money on the down side. Here we see the Nasdaq 100 futures bouncing and hitting resistance at 7300. At the same time it hits the down trend line or peaking just over it.
We track the...
EUR/USD hit resistance at 1.13 and the upper trend line and is on the way back down. US is economically much stronger than Europe with higher interest rates. Bad numbers today from Germany - April industrial output -1.9%.
We track the performance of every trade. This is idea n. 4 published on tradingview. We seek to have a risk/reward ratio of at least 2.
So...
Utilities are a good place to be with the current global slow down and a trade war here and there. Going long XLU should provide you with a good risk reward opportunity. XLU already bounced off the trend line turning up. A stop right under the trend line will limit your losses. Here is the daily chart and how it looks on a bigger time frame. Disclosure: this is...
