Free Trade Ideas

Welcome to No Donation Friday! It’s been a wild week on the markets, filled with ups and downs. If you’ve made money over the past four sessions, well done! Be sure to put half of those gains in your pocket ahead of the weekend. Monday is right around the corner, and next week is always the best week!
On the economic news front, there isn’t much on the docket for Friday’s US session. The University of Michigan Consumer Sentiment Index was released 30 minutes after the Wall Street open. The figure came in at 52.2, above the 50.8 expected, but down from the previous release of 57.0. Theoretically, this release should be interpreted as slightly bullish for the Greenback.
Earlier this week, we published a Trade Idea for the XAU/USD. The trade was a success, as gold bounced short-term from Fibonacci support. Now, sellers are back in control of bullion, and prices are down nearly 2% on the session. We’ll be watching this support level closely throughout next week’s trade:
Daily 62% Fibonacci Retracement, 3,171.72
Normally, an entry point of about $100 from the current price takes some time to develop. However, the gold market is highly volatile; this entry may come sooner rather than later. For instance, today’s trading range in the XAU/USD is around $95. One more bearish session and this support zone has a great shot of coming into play. Check out our Key Levels for more information on this Trade Idea.
Weekends present many challenges to traders. Perhaps the largest is breaking news. At this hour, stories are hitting the wires on everything from Russia/Ukraine to new tariffs. Without question, this is one of the most active monthly news cycles in recent history. It’ll pay to be cautious when carrying positions over the weekend!
That’s all for now; we’ll see you at howtotrade.com next week!