The signs were there for a stock market plunge, which is exactly what has happened today. Gold, a perceived safe-haven asset, had been rising strongly of late despite the dollar's strength and the equity market rally. The Japanese yen, likewise another safe haven asset, has been firm and today it has got firmer. Risk is clearly off the menu today. At the time of this writing, the FTSE and DAX were trading near their lows and US index futures were pointing to a sharply lower open on Wall Street later. Is this the start of the crash that many people had been waiting for? Well, that remains to be seen. In part, it depends on what Wall Street will do today. So far every dip – small or big – have been bought. But at these record high levels, there will be a lot of stop orders that had been accumulated during the melt up. I fear there will be a very sharp pullback to clear out these weaker longs before we see a bounce.

Trading leveraged products such as FX, CFDs and Spread Bets carry a high level of risk which means you could lose your capital and is therefore not suitable for all investors. All of this website’s contents and information provided by Fawad Razaqzada elsewhere, such as on telegram and other social channels, including news, opinions, market analyses, trade ideas, trade signals or other information are solely provided as general market commentary and do not constitute a recommendation or investment advice. Please ensure you fully understand the risks involved by reading our disclaimer, terms and policies.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD retreats below 1.2000 on US dollar bounce, German CPI in focus

EUR/USD snaps three-day uptrend while stepping back from one-month tops of 1.1990. US dollar bounce and market consolidation trigger pullback moves. Vaccine jitters, US-Russian conflict battle stimulus hopes to challenge risk-on mood. German CPI can recall the bulls.

EUR/USD News

GBP/USD slips below 1.3800 ahead of US retail sales, Brexit meet

GBP/USD maintains a cautious approach below 1.3800, accumulating minor losses. Global risk uncertainties weigh on the pair. Investors await the US Retail Sales data while eyeing Brexit meeting on the NI issue.

GBP/USD News

Bitcoin on-chain data shows BTC is reaching “peak hype”

Bitcoin’s on-chain data suggest a short-term correction may be needed before Bitcoin could continue its price rally. Market sentiment toward Bitcoin poses a major concern for the cryptocurrency, indicating it is approaching “peak hype.”

Read more

XAU/USD looks to retest $1750 as USD bounce fizzles ahead of US Retail Sales

Gold is breaking higher as the US dollar rebound loses steam. The US Treasury yields retreat ahead of the Retail Sales release. XAU/USD is teasing symmetrical triangle breakout on the 1H chart.

Gold News

Coinbase (COIN) closes down 14% from the $381 opening price, what next?

After a dream debut for the cryptocurrency exchange Coinbase Global Inc. (COIN) on Nasdaq at $381, the shares rallied as high as $429.54. Although the upswing failed to sustain, as Bitcoin fell from record highs and tech stocks tumbled across the board. 

Read more

Majors

Cryptocurrencies

Signatures