Forex trading long FTSE100, range trading Bitcoin [Video]

Brad Alexander FX Large Limited

Last time we looked at the NASDAQ nearing all-time highs.

It looks like the S&P500 is almost there as well.

Let’s take a quick look at the US indices.

The S&P500 is very near all-time highs…and so is the NASDAQ.

Basically, this shows that investors are ignoring Donald Trump’s tariff threats so let’s see if he follows through.

The DJIA is still in a symmetrical pennant, but if we assume that the same optimism will carry over from the other indices, we may look of a move to the upside.

The stochastic oscillator is oversold and turning up and we are in mid-range in the pennant.

Speaking of indices, price action on the UK FTSE100 has had a pullback in this bull run and is almost at the lower trend line.

We also see the stochastic oscillator looking very oversold.

Whether you are trading indices, forex or commodities, we have a mountain of economic news this week so check your calendars.

Please note that the timing on this calendar is London time, GMT.

This week, we have Interest Rate decisions from Australia and New Zealand, CPI from Canada and the UK, and PMIs from Europe, the UK, and the US.

So, lots of opportunities to look for counter-trend moves to let us trade WITH the trend at a discount.

Last time we looked at a short trade on WTI Crude Oil and look what happened.

If we move out to the daily chart, we see price action is at support but there is a major key level below at $67.

We see a range trading opportunity on BitCoin between $95,000 and $98,500.

As you know, cryptocurrencies are quite volatile but you may want to use technical indicators to time your entry and exit points.

That’s all for now.

CFDs and FX are leveraged products and your capital may be at risk.

Author

Brad Alexander

FX Large Limited

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

AUD/USD sits near monthly high, around 0.7035 on hawkish RBA

AUD/USD trades around 0.7030-0.7035 in the Asian session on Thursday, near its monthly top, as recent hawkish comments from RBA officials continue to underpin the Australian Dollar. The US Dollar, meanwhile, struggles to lure buyers amid further declines in US bond yields, adding support to the pair. However, Fed rate-hike bets and geopolitical uncertainty help limit losses for the safe-haven buck, warranting caution for Aussie bulls.

USD/JPY remains confined in a familiar range; holds steady above 158.00

USD/JPY extends its consolidative price action through Thursday's Asian session, trading just above 158.00 amid diverging forces. Uncertainty over the timing of the next BoJ rate hike keeps Japanese Yen bulls on the defensive. The US Dollar, meanwhile, languishes near multi-week low amid declining US bond yields. Furthermore, looming intervention risks limit JPY losses and cap the pair. Traders also seem hesitant ahead of the Fed and BoJ meetings next week.

Gold hangs near one-week low; eyes $4,100 break amid Fed hike bets

Gold attracts fresh sellers in Thursday’s Asian session, sliding closer to a one-week low touched the previous day. Firming expectations for an imminent Fed rate hike, bolstered by oil-driven inflation risks, weigh on the non-yielding bullion. Meanwhile, declining US bond yields counter geopolitical uncertainty, keeping US Dollar bulls on the defensive. This helps XAU/USD defend $4,100.

Dogecoin Labs launches, resistance looms

Dogecoin (DOGE) Labs launched Wednesday in partnership with the Dogecoin Foundation, bringing together several product teams and technologies to expand the use of the memecoin (DOGE) across payments, decentralized finance (DeFi) and consumer applications. The launch will consolidate MyDoge, DogeOS and Such App under one business, led by Jordan Jefferson, founder of MyDoge and DogeOS.

What the midterm elections mean for Treasury yields, the Dollar and Gold

Democrats are priced to take the House, so November 3 comes down to the Senate and how much Washington can borrow without the other party. Treasury yields will show the answer first, then the Dollar and Gold. On November 3, Americans vote for all 435 House seats and 35 Senate seats. For bond prices, the result comes down to one thing: how much the government will borrow over the next two years.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.