Forex trading short on USD after sell-Off, US indices falling on earnings and the Fed [Video]

In today’s Market Outlook, let’s take a look at Forex Trading on the USDCAD, Gold, XAUUSD, the DAX, the CAC 40, the NASDAQ, the S&P500, Brent, and WTI Crude Oil.

OPEC+ surprised everyone by holding off on production increases going into 2026.

That gave price action a bit of a bump.

We are seeing WTI and Brent falling during the last 2 day based on economic uncertainty.

From the technical point of view, we still see downward pressure with price action at the upper trend line.

Last time we looked at the positive earnings reports from Apple and Amazon, the US indices saw a bit of a bump.

It wasn’t enough as investors saw poor results in other areas and the Fed don’t seem to be interested in lowering interest rates in the near future.

Speaking of indices, we are expecting European earnings reports after the DAX and the CAC40 opened with huge weekend gaps.

Last time, we spotted this Cup and Handle pattern on USDCAD and how it was a bullish pattern.

Look what happened.

This was helped by USD strength as investors go to cash after selling US equity shares.

The stronger USD sent price action on gold lower as it broke out of this ascending triangle.

There is still a lot of geopolitical uncertainty out there, so we will watch this stochastic oscillator and the news to see if prices go above $4,000 again.

That’s all for now.

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