Brad Alexander
FX Large Limited
The risk-off attitude is continuing with US Indices even though we saw a spike with the Non-Farm Payrolls.
Yes. The US Non-Farm Payrolls were lower than expected giving stocks a boost but the sell-off continued.
We will look to go short on some indices but wait for confirmation.
For example, on the Dow Jones Industrial Average, we see price action heading for the upper trend line and MACD is still looking bearish.
However, we may want to wait for a bounce and possibly an overbought stochastic oscillator.
As well, you can see how the Non-Farm Payrolls gave us opportunities to trade with the trend by sending price action temporarily against the trend.
In the news this week we have US CPI and PPI which may sway the fed in their next Interest Rate Decision.
We have Employment and GDP figures out of the UK.
And a European Interest Rate Decision where we expect a lower rate so watch for volatility.
We see mixed strength and weakness in EUR pairs so a counter-trend move might give us some good opportunities.
We are mixed with GBP pairs as well so watch for Counter-trend price action just after the news.
For example if we see price action moving up in a bear run on GBPNZD so, if price goes higher, it may reverse to the downside later.
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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