Welcome to the video update for Monday, August 23rd. First chart is the EUR/USD pair weekly chart where price pulled back for the 2nd consecutive week. If you know the 9/30 method take a look and see if the 9ema has crossed the 30wma on this weekly chart. Also, look at the gap between the fast sto and the slow sto. Mean anything? We are still tracking a possible ab=cd pattern with a D target at just above 1.1400. Trader Rick also looks at the 60 min EUR/USD pair chart and notes where initial overheard resistance may come in to play.
if you trade the euro futures contract (6E) take a look at the 174 minute chart. Last weekends video update gave a full target of 1.2731 which was hit in last Friday’s trading. See what the wave count may be indicating.
Next up is a quick update from last weekends video update in the yen (6J) so if you trade the yen be sure to check this chart out.
Final charts are the S&P cash weekly, the ER weekly and the ES 203 minute and ES 60 min charts. Full target on the bearish wedge pattern on the 2 bar per day chart is close by.
Good trading!
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