Video Update: 5 April

Welcome to the video update for Monday, April the 5th. The eurostoxx 50 daily chart shows price closed last Friday at the highest level since mid January. See what the next upside target is.

Trader Rick reviews the weekly gold chart where price is in a trading range.

Next up is the weekly EUR/JPY chart where price is in the sell zone. Can price move thru the overhead resistance? On the weekly EUR/USD chart, IF price moves in to the sell zone, then look for a shorting opportunity. IF price moves lower first, look for potential support in the .786 area. If you trade the EUR/USD, take a look at the 60 minute chart and see how the 9/30 setup played out.

The weekly Canada chart shows price continuing higher, closing last week at its highest level since July 2008. Price is closing in on the targets of the dragon pattern.

Trader Rick reviews the weekly crude chart where price may be breaking out to the upside. Next upside target is the .50 fib at just above the $90 level. On the daily chart, there are no divergences so watch for price continuation if support holds at the 81.50 area.

Next up are the stock index charts, starting with the NQ weekly and daily. Note where support should come in. Trader Rick finishes with the ER 60 min chart and the ES daily and 60 min charts.

Good trading!

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Tags: dragon pattern, fib extension, measured move, trading range