Welcome to the video update for Monday, the 29th. Due to some charting problems this will be an abbreviated update. Short and sweet! Trader Rick starts with the euro monthly chart. See if price is in the buy or sell zone. What is price action saying? On the daily euro, price is in the sell zone. Be sure to note the important underlying support level.
Next is the emini weekly chart and price dipped in to the buy zone this past week but did not close below the 9ema. This means we do not have a confirmed 9/30 long setup. Trader Rick shows what it will take on a weekly basis to turn the bias to the upside. If price does rally first target will be the previous swing high and the .382 fib.
On the daily emini, price is in the sell zone. Be sure to note the underlying support level in this market.
Good trading!
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