Trade in the Zone - 1st February 2023
Ross Maxwell
With over 20 years of experience, I am a firm believer that long-term trading success comes from mastering risk management. My background in global financial markets drives this core principle in my coaching & mentoring
Welcome back to Trade in the Zone, the Weekly newsletter from Key Zone Traders, providing?our members with insights into the markets for the upcoming week, and adding more value to your trading.
In the last edition we had a look at the 4 Hour chart on Oil. The 82.00-82.30 zone capped the action all week and we have stayed in the range, so the analysis still remains the same
Crypto Watch
Bitcoin continues its push higher toward the?24200-25600?zone.
This does not change the overall longer-term picture of Bitcoin and if we retest?the?18240-19890?zone the reaction will be key.
If we do not see the retest of the?18240-19890?zone then we can still look for a reaction from the?24200-25600?zone, however, the main resistance?would be at?29600-31420
Come and check out the?Key?Zone?Traders Academy, where we provide you with the necessary tools and teach you how to build the skill sets to identify these movements yourself.
Market in Spotlight
EURUSD?continues to recover well after a really poor 18 months in 2021/22.
As you can see from the Weekly chart, we are now gaining some acceptance above the?1.0750-1.0825?zone, with some room still for upside movement toward the next resistance zone at?1.1285-1.1360. This can be a target all the time we remain above the?1.0750-1.0825?zone.
If we see a pullback then the?1.0340-1.0410?can now act as support.?
Trading Tip
The Week Ahead
Lots of news out this week, dominated by Central Bank Rate Announcements.
FOMC on Wednesday at 7 pm, BOE at 12pm on Thursday, and ECB at 1.15 pm on Thursday.
We also have NFP on Friday at 1.30 pm, as well as other high-impact news for the USD at 3 pm on Tuesday, Wednesday, and Friday, and 1.15 pm on Wednesday.
This means all positions will need to be well managed this week, especially around the news releases
What's Coming Up For Key Zone Traders...
Come and follow us on social media to keep up to date with everything going on at Key Zone Traders
Tuesday?- We will?be releasing our Trading Education Slot Collaboration with ValuTrades on our?Instagram channel?- follow here to keep up to date
Wednesday?- How are your new year's resolutions going?
Friday?- We will show you our Trade of the Week - the trade that we take in the markets which we can take the most information from.
Don't forget to check us out?on our?Instagram channel?for more news and the latest tips this week
Hope you have enjoyed this?edition of Trade in the Zone with Key Zone Traders.....have a great week, and let's go?Make. It. Happen.