UPDATE JAN. 09 : Most of the trades ideas below have not been executed because markets reacted differently, mostly because worries on China situation.
Happy New Year everyone.
On this first trading week of the year, we will obviously take our time to observe the markets in order to make better decisions. Long term trades setups are going to be difficult for now specially on indices, I would also include the EURUSD pair.
I don't like to say that, but uncertainty is still here and perhaps we can start to see a little bit better on March.
Of course, we have to deal with it and our mission is clear, we have to make money anyway. Therefore, short term trades setups are recommended.
Trading Ideas (Jan. 4th)
GOLD: Current price is 1060.81. It is possible to have the price going down to 1053.00 this week or the next week. We will look to place a SELL on this 4th or 5th Jan. As we mentionned above, we will place short term trades for now.
EURUSD: Current price is 1.08698. The pair could go down to 1.08077 as a first target and 1.05593 as a second target. Target could get hit in about 2 weeks from now.
USDCAD: Current price is 1.38544. Buy recommended for these coming 2 weeks, we could have the price go up to 1.39816, and higher.
WTI OIL: Current price is 38.10. SELL recommended with target 36.00. From this current level, if price goes a little higher, then we will take the opportunity to sell.
NASDAQ: Current price is 4602.00. Price could begin to go up this week or next week. Target would be around 4733.00.
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