PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR FRIDAY 19/06/23
It was a mixed market with Europe heading higher until the US opened and went lower seeing European traders give back earlier gains. US has a bank holiday today which could mean a choppy Asian and European session to come. It looks like the move lower in the US was a traders locking in some gains at key levels ahead of a long weekend. The USD held support while Gold edged lower.
Expecting a flat open to the Asian market session and potential chop into the close.
Traders finally see an end to the US interest rate rising cycle which may support markets in the near term. I expect now the focus will shift to recession talk and an economic slowdown which will pressure markets longer term as the US continue to run at very high debt levels.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
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