Brad Alexander
FX Large Limited
We purposely delayed this video one day to let the markets shake out after yesterday’s chaos in North America.
Well, look what happened!
Trading opened on Monday with threats of insane American tariffs on Mexico and Canada and the US indices plunged with price action gaps.
Deals were reached and prices retreated filling this gap on the S&P500.
As we were making this video, the S&P500 fell again as we awaited news about the US/China tariffs.
We went through all this so many times during the first Trump administration.
Here we go again…4 more years, traders!
Anyway, the stochastic oscillator is oversold on the 1-hour chart but the fundamentals will dictate the opening of a long trade.
As a victim of this potentially crazy trade war, CAD tanked against USD but rebounded after the deal.
If you want to trade CAD pairs, take a good look at your charts and, as always, trade in the direction of the trend.
For example, price action on CADJPY is at the upper trend line and the stochastic oscillator is overbought and crossing over.
With all this uncertainty, price action on gold has headed back to record levels.
Will it reach $3,000? Some analysts think so!
If you are looking to short XAUUSD, please wait for all the fundamentals to settle down.
Remember, we have 4 more years of unexpected bad policies to deal with.
Getting back to reality, we have employment data today from New Zealand, a key Interest Rate Decision from the Bank of England, and the US Non-Farm Payrolls at the same time as Canadian employment figures.
Buckle up!
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.
Recommended Content
Editors’ Picks
EUR/USD hits two-week tops near 1.0500 on poor US Retail Sales
The selling pressure continues to hurt the US Dollar and now encourages EUR/USD to advance to new two-week peaks in levels just shy of the 1.0500 barrier in the wake of disappointing results from US Retail Sales.
GBP/USD surpasses 1.2600 on weaker US Dollar
GBP/USD extends its march north and reclaims the 1.2600 hurdle for the first time since December on the back of the increasing downward bias in the Greenback, particularly exacerbated following disheartening US results.
Gold maintains the bid tone near $2,940
The continuation of the offered stance in the Greenback coupled with declining US yields across the board underpin the extra rebound in Gold prices, which trade at shouting distance from their record highs.
Weekly wrap: XRP, Solana and Dogecoin lead altcoin gains on Friday
XRP, Solana (SOL) and Dogecoin (DOGE) gained 5.91%, 2.88% and 3.36% respectively on Friday. While Bitcoin (BTC) hovers around the $97,000 level, the three altcoins pave the way for recovery and rally in altcoins ranking within the top 50 cryptocurrencies by market capitalization on CoinGecko.
Tariffs likely to impart a modest stagflationary hit to the economy this year
The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.
The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.