Brad Alexander
FX Large Limited
In today’s GCI Market Outlook let’s take a look at Forex Trading on USDJPY, CADCHF, Gold XAUUSD, Brent Crude Oil, the ASX200, and the S&P500.
A few hours before making this video, the White House postponed the main tariffs.
The markets reacted on almost every instrument.
You will see this pattern all over your trading platform.
A double top or double bottom, and a big move like this one on the S&P 500.
If we were able to use technical analysis, we see price action reaching the upper trend line and the stochastic oscillator very overbought.
But, be careful if you want to trade short.
Any more good news on tariffs will send indices higher, even though we see some quick profit taking.
All indices, like the Australian ASX200, basically look the same, so take a look around.
Brent Crude and WTI have also rebounded based on lower demand fears but again, keep an eye on the news.
Anything could change at any minute.
If we move out to the weekly chart, we see that we are at the level from almost 3 years ago and well below normal support.
The fact that gold is still moving up tells us that there is still some uncertainty about the stock markets.
We are near all-time highs again, well over $3,100.
Every chart with CHF in the pair looks the same, as well with CHF weakness.
Similarly, JPY is weaker, and we may be exploring a short trade on some of the pairs.
We have dramatic movement on almost every asset class, and I wish we had time to look at them all.
Take a look at your favorite pairs, check the news, check your technicals, and manage your risk.
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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