Welcome to the video update for Monday, Feb. 8th. Trader Rick starts with the eurostoxx 50 weekly chart where initial support comes in at the 2750 area. Note the two levels of resistance on the daily chart.
The weekly gold chart indicates an abc pattern in progress with underlying support down at the $1000/oz level. The daily chart shows a possible ab=cd pattern with the D target coming in just above the $1000/oz level. The 60 minute day session only chart shows possible support at a higher level.
Next up is the EUR/USD pair weekly chart where price continues to move lower but is now in the .50 to .618 fib zone. Watch for a selling opportunity IF price rallies in to the sell zone. Daily chart shows price may be finding support at the D target of an ab=cd pattern. Watch to see if price can hold support here.
Trader Rick goes over a euro currency futures 15 minute chart where a buy is being monitored. Keep in mind that by the time you receive this update that this setup may be old news.
Next is the weekly Canada chart where price may be in the buy zone but odds are an ab=cd pattern may be developing on the daily chart so be sure to look at that if you trade the Canada.
A channel is containing current price action on the weekly crude chart. The 60 minute chart shows overhead resistance. Trend remains down on this market.
Take a look at the 60 minute day session 30 year bond chart where we may be seeing a change in trend. IF price pulls back in to the buy zone a buying opportunity may present itself.
The stock indexes are reviewed including the NQ, YM and the ES. Overhead resistance is shown on the 60 min NQ chart as well as the YM daily chart. In the ES resistance comes in just above the 1100 level. Price is in the sell zone on the 60 minute chart.
Good trading! …and congrats to the New Orleans Saints for winning the Super Bowl. 
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