Dow Jones return to all-time highs? AUD strongest currency – Forex trading long AUD/CHF? [Video]

Brad Alexander FX Large Limited

Welcome to today’s Market Blast, and today we will take a look at Forex Trading on AUD/CHF, AUD/NZD, Gold, XAU/USD, WTI, Brent Crude Oil, the NASDAQ, and the Dow Jones Industrial Average.

We are seeing a risk-on mood in US equities based on excellent corporate earnings and high growth.

The next key level for the Dow Jones Industrial Average is back to its all-time highs, and we just saw a big jump yesterday that fixed the week-long bear run.

The other indices, like the NASDAQ, which is more affected by big tech and AI, are flying, and we often see the Dow Jones catch up.

With complete confusion in Iran, we see the price of oil up again, with Brent Crude Oil at over $120 yesterday and WTI at $112.

As we keep saying, until the Strait of Hormuz is opened, we will see volatility in the upper ranges.

If we get some good news, we may also see a big fall as the UAE are leaving OPEC.

The UAE, which currently pumps 4% of the global market, wants to pump more oil, which will increase supply and see prices fall.

As investors put their assets back into equities, many no longer see gold as a safe haven, and we are in a bear run on XAUUSD.

We spotted a technical opportunity today with price action bouncing off the upper trend line and the stochastic oscillator heading down from yesterday.

Many markets are on holiday, but the next big economic news will be an interest rate decision from the Reserve Bank of Australia and employment data from New Zealand.

So, if we look at the pair of them, we see a one-way street with AUD winning with price action forming a rising wedge.

Does this make it bearish? Let’s see.

I encourage you to check out all the charts on all AUD pairs, like AUDCHF, where we have price action at the lower trend line in this clear bullish channel.

Author

Brad Alexander

FX Large Limited

Brad became fascinated with the Currency Markets from a young age and researched fundamental analysis.

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