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.
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.
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EUR/USD bounces off lows, retests 1.1370
Following an early drop to the vicinity of 1.1310, EUR/USD now manages to regain pace and retargets the 1.1370-1.1380 band on the back of a tepid knee-jerk in the US Dollar, always amid growing optimism over a potential de-escalation in the US-China trade war.
GBP/USD trades slightly on the defensive in the low-1.3300s
GBP/USD remains under a mild selling pressure just above 1.3300 on Friday, despite firmer-than-expected UK Retail Sales. The pair is weighed down by a renewed buying interest in the Greenback, bolstered by fresh headlines suggesting a softening in the rhetoric surrounding the US-China trade conflict.
Gold remains offered below $3,300
Gold reversed Thursday’s rebound and slipped toward the $3,260 area per troy ounce at the end of the week in response to further improvement in the market sentiment, which was in turn underpinned by hopes of positive developments around the US-China trade crisis.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
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.
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