Thursday, September 3, 2015

4 Trades for Employment Friday | Crude Oil, Gold, E-mini & Euro Futures 09/03/15

"Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning." - Albert Einstein.
Notes for Tonight’s Newsletter:
We have some exciting trading opportunities setting-up for us on Friday;  Crude Oil and E-Mini S&P still haven’t completed their targets at the highs of the range while both Gold and Euro are looking WEAK down at these lows and a possible reversal may be coming… are you ready for Non-Farm Payroll Friday?

Crude Oil is range-bound and right in the middle of the range;  We can see the buyers did NOT finish the move up to the highs of the range today, which means that objective hasn’t been completed yet, however that lack of success also leave the door wide open for the sellers to run this back to the lows.

E-mini S&P is bullish and 'rotating' back towards the highs of the range to finish the job that started earlier in the week.  The key level to watch is the 50% 45.75 support and if sellers cannot keep price below this level we will be looking for a test of the highs at 75.25.  If buyers can’t keep price above the 50% they will run this back to fill the gaps at the lows.

Gold is completely range-bound and has completed the full rotation from highs down to lows where the sellers have tried to push below the range twice and appear to struggling.  We are watching for seller-failure at the lows for buying opportunities back into the range, however tomorrow's NFP report may send this price lower before going back higher next week so beware!

Euro is bearish, however we are clearly range-bound and the sellers have already tried twice to push lower which tells us the buyers have a shot to return back to the original trading range from this week, starting with a gap-fill up at 1.1166 and

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