US interest rates on hold: Did you buy the dip on the Nasdaq? – WTI higher on Middle East tensions [Video]
![US interest rates on hold: Did you buy the dip on the Nasdaq? – WTI higher on Middle East tensions [Video]](https://editorial.fxsstatic.com/images/i/Equity-Index_Nasdaq-2_XtraLarge.jpg)
Let’s take a look at Forex Trading on WTI Crude Oil, GBPCHF, GBPJPY, and the NASDAQ.
The US Federal Reserve did not change Interest rates on Wednesday, but all the indices fell in unison.
Did you buy the dip?
After the FOMC announcement, the White House issued the usual disparaging remarks about Jerome Powell, and issued confusing statements about the Middle East conflict, which drove the markets lower.
This was the perfect opportunity to buy the dip as price action on the major US Indices fell to the lower trend line.
The stochastic oscillator turned from oversold right on cue.
As you can see, this happens very often in both bull and bear markets, so please keep an eye on your charts and the news.
The BoE did not change Interest rates either, and GBP fell and rebounded like we see here with GBPJPY.
Our technicals can help us here, and I encourage you to look for opportunities like this around any interest rate decision.
And, always trade WITH the trend.
On the other side of the coin, we see price action on GBPCHF at the upper trend line in this downtrend.
We also see the stochastic oscillator in overbought territory, so we will wait for confirmation from both price and technicals.
Price action on crude oil is behaving normally as we have serious tensions in the Middle East.
Again, we see price at the lower trend line, but keep an eye on the news first, then your technicals, before you go long on WTI or Brent crude.
Author
Brad Alexander
FX Large Limited
Brad became fascinated with the Currency Markets from a young age and researched fundamental analysis.
