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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
My company:
2ndSkiesForex
My blog:
2ndSkiesForex
My book:
Trading Price Action and Pivot Points
  • Euro & Silver Price Action Setups | Apr. 1st 0 comments
    Apr 1, 2013 9:51 PM

    Hello Traders,

    I hope you had a good holiday weekend as it was a long one with the European and London markets closed today.

    Two instruments that are looking interesting from a price action perspective to start the week, are the EURUSD, and Silver.

    [B]EURUSD[/B]

    Short term, the pair is showing bullish under-pinnings, which is fine with me as it gives us a chance to rejoin the down trend. Look to sell rallies towards the daily 20ema parked between 1.2933 and 1.2951 which has held mid-Feb this year, targeting 1.2775 and 1.2675.

    (click to enlarge)

    [B]Silver[/B]

    For the precious metal, it has been diverging heavily from Gold lately, and is under a lot of downside pressure as of late. The recent consolidation, and price action squeeze (one quality often present before a breakout) are starting to stress the bulls. $28.00 is the key support, so should this collapse, $27.15 and $26.50 are up next, so watch for a potential 20ema carry before the breakout to get short.

    (click to enlarge)

    Good hunting for the week as things are starting to build up nicely with a lot of good setups forming.

    Kind Regards,

    Chris Capre

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