Buy the dip on the S&P 500 and Nasdaq? Forex trading short on NZD/USD and Gold [Video]
|In today’s Market Outlook, let’s take a look at Forex Trading on GBP/USD, EUR/USD, USD/JPY, Gold XAU/USD, and the S&P500.
We have had another fall in global stock indices as investors wait for today’s US PCE report.
Even though Jerome Powell spoke about a rate cut, many want to see that US inflation is really being curbed.
Yes. It’s all about tariffs.
This will affect USD as well, and we see weakness against the COMMDOLS, CHF and EUR.
For example, we may find a short opportunity on NZDUSD, which is in a downtrend.
AUDUSD, not so clear, but watch support and resistance and your technicals.
We see range trading opportunities on EURUSD and USDJPY.
And a symmetrical pennant on GBPUSD.
We see an obvious ascending triangle on gold and a stochastic oscillator that is very overbought.
The same with silver.
All wonderful opportunities, but today’s economic news at 8:30 am Washington time will tell us everything we need to know.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.