New Momentum Lows
01/28/2015 9:00 am EST
Since the S&P 500 E-Mini Futures found structural lows and have been making a swing to the upside, Christopher Terry, of iMarketsLive.com, shares a video in which he lays out key price levels to watch in the coming days. He also takes a technical look at a currency pair as well.
The S&P 500 E-Mini Futures came off the structural low—discussed in last week’s video—and had a nice rally up. Now traders are looking for the market to go higher. However, should the market try to turn back down again, there will still be a zone for support.
Looking at the daily chart of the EUR/USD, forex traders can see how to use price relationship of a prior swing along with prior swing high for a key resistance area. They will be able to see that since this market has had a strong momentum to the downside, its best to allow this market to rally to setup short sales.
By Christopher Terry, Contributor, iMarketsLive.com