Brad Alexander
FX Large Limited
We have been showing you some successful gap trading opportunities and USD has opened weaker today with a gap.
We told you a few weeks ago that a Democrat win in the US general election tomorrow will mean a weaker USD.
That is what we are seeing here with polls leaning toward Democrats now.
You will find this on all USD pairs but be careful.
At least wait for the stochastic oscillator to rise to overbought and turn over.
If not, the election will drive USD and the indices.
Speaking of economic news, we have lots in the calendar this week with Interest Rate decisions from Australia, the UK and the US where we expect a fall in rates from both central banks.
We have Employment news from New Zealand, the United States, and Canada.
A while ago we spotted this Cup and Handle pattern on WTI but it was broken by this gap after Middle East news.
The gap was filled and we see another Cup and Handle pattern.
This is usually a bullish pattern so keep an eye on your technicals and watch to see if price action breaks these levels of resistance.
We see a pullback from the slide in US Indices since Hallowe’en.
Technically, let’s keep an eye on MACD as if we see the signal line passing out of the histogram, this may indicate a reversal to the upside.
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.
Recommended Content
Editors’ Picks
EUR/USD Markets await first-tier data with modest optimism Premium
EUR/USD clings to small daily gains above 1.1350 in the American session on Monday. The cautious market mood and easing US Dollar demand help the pair stretch higher as investors gear up for this week's upcoming key macroeconomic data releases.
GBP/USD gathers bullish momentum, advances to 1.3400
GBP/USD extends its daily climb to the 1.3400 area in the second half of the day on Monday. Renewed US Dollar weakness amid a lack of fresh developments hinting at a further de-escalation of the US-China trade conflict support the pair ahead of this week's critical data releases.
Gold rebounds above $3,300 as mood sours
Following a bearish opening to the week, Gold gains traction and trades above $3,300 in the American session. Mixed headlines on the ongoing US-China trade war cause markets to remain risk-averse on Monday, allowing XAU/USD to turn north.
XRP extends gains ahead of futures ETFs launch this week
XRP climbs over 3% on Monday, hovering around $2.33 at the time of writing. The rally is likely catalyzed by key market movers like XRP futures Exchange Traded Funds (ETFs) approval by the US financial regulator, the Securities and Exchange Commission (SEC), and a bullish outlook.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.