In the dynamic world of financial markets, timing is everything. Successful trading often hinges on the ability to spot opportunities and act decisively. Today, we bring you an update on three major instruments that are currently on the move: NAS100, AUDCHF, and EURUSD. These markets are showing significant price action that traders should pay close attention to in order to capitalise on potential profit opportunities.
The NAS100 Performance
NAS100 was trading below a monthly support level, we opened high at the start of September. We saw the index pushing below on a bearish run at the start of the month with possible support to be found at price point 15144.26. We entered a short position on this trade, to support identified at 15144.26.
The fib fan was in place indicating a 61.8 break of the trend that pushed up to the start of September. Following through on the downside to conservative traders, a break and close below 15301.96 did materialise. Traders should have taken profits as the price has now bounced back to the upside.
![NAS100, AUDCHF, EURUSD Moving Towards Our Identified Areas](https://www.tdmarkets.com/wp-content/uploads/2023/09/NAS100-2-1024x430.jpg)
The EURUSD Performance
The pair is still trading at a monthly support level at price point 1.07241.
Traders should note that this is not a long-term move, but instead a possible short-term impulse to the upside. An inner and outer trend is put in place to monitor the breaking of the accumulation phase. The resistance level at price point 1.07474 is put in place to monitor whether the price creates a new high.
Traders can gear themselves for a 90-pip move to target at price point 1.08419. Price has pushed down and found support at price area 1.06906. It is currently approaching the breakout area for a new high.
![NAS100, AUDCHF, EURUSD Moving Towards Our Identified Areas](https://www.tdmarkets.com/wp-content/uploads/2023/09/EURUSD-1-1024x429.jpg)
The AUDCHF Performance
The last time we updated this pair, we saw the retracement done for the move to the upside. We have pushed up since then and are currently a few pips away from the identified resistance. Traders must remember that we are taking risks through short-term analysis and this specific pair has an overall bearish trend, we are simply trading a few corrections on the shorter timeframes. The target is set at price point of 0.57572.
![NAS100, AUDCHF, EURUSD Moving Towards Our Identified Areas](https://www.tdmarkets.com/wp-content/uploads/2023/09/AUDCHF-6-1024x431.jpg)
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Final Thoughts On Today’s Analysis
In conclusion, traders are urged to exercise caution and vigilance when trading NAS100, AUDCHF, and EURUSD in the current market conditions. It's essential to stay informed about the latest developments, use technical analysis tools, and have a clear risk management strategy in place. Whether you're an experienced trader or just starting, staying up-to-date and adapting to changing market dynamics is key to achieving success in the world of trading.