US interest rates on hold: Did you buy the dip on the Nasdaq? – WTI higher on Middle East tensions [Video]
|Let’s take a look at Forex Trading on WTI Crude Oil, GBPCHF, GBPJPY, and the NASDAQ.
The US Federal Reserve did not change Interest rates on Wednesday, but all the indices fell in unison.
Did you buy the dip?
After the FOMC announcement, the White House issued the usual disparaging remarks about Jerome Powell, and issued confusing statements about the Middle East conflict, which drove the markets lower.
This was the perfect opportunity to buy the dip as price action on the major US Indices fell to the lower trend line.
The stochastic oscillator turned from oversold right on cue.
As you can see, this happens very often in both bull and bear markets, so please keep an eye on your charts and the news.
The BoE did not change Interest rates either, and GBP fell and rebounded like we see here with GBPJPY.
Our technicals can help us here, and I encourage you to look for opportunities like this around any interest rate decision.
And, always trade WITH the trend.
On the other side of the coin, we see price action on GBPCHF at the upper trend line in this downtrend.
We also see the stochastic oscillator in overbought territory, so we will wait for confirmation from both price and technicals.
Price action on crude oil is behaving normally as we have serious tensions in the Middle East.
Again, we see price at the lower trend line, but keep an eye on the news first, then your technicals, before you go long on WTI or Brent crude.
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.