Brad Alexander
FX Large Limited
We are always telling you to watch the economic calendar.
Well, the US Federal Reserve caught us all by surprise and lowered rates by 0.5% and not the 0.25% as predicted sending markets flying.
For example, EURUSD moved up and down over 100 pips giving us lots of trading opportunities.
Using a combination of technical indicators and previous support and resistance, we can confirm reversals on most time frames.
This was true of most USD pairs and we will have more interest rate decisions next week so make sure you watch Monday’s video.
As we know, corporations like lower interest rates and the US Indices jumped up with the good news.
We can see that the DJIA and the S&P500 are at record highs but the NASDAQ and the Russell 2000 still have room to move higher.
Last time we were anticipating a long trade on Natural Gas and, as we hoped, price action bounced off the lower trend line and returned to the upper trend line.
But, are we now looking at a reversal? Let’s look again on Monday.
That’s all for now.
CFDs and FX are leveraged products and your capital may be at risk.
While we may offer market commentary based on fundamental or technical analysis, we do not offer trading advice and cannot be held liable for any decisions taken by viewers and readers of our material.
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Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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