Forex Trading Short on US Indices and GBPNZD. EUR Interest Rates in Focus.
Forex Trading Short on US Indices and GBPNZD. EUR Interest Rates in Focus.
In today’s GCI Market Outlook, let’s take a look at Forex Trading on GBPNZD, EURUSD, and the Dow Jones Industrial Average.
The risk-off attitude is continuing with US Indices even though we saw a spike with the Non-Farm Payrolls.
Before we look at that, don’t forget to Like, Subscribe and Get Notified on YouTube, Facebook and Instagram.
Yes. The US Non-Farm Payrolls were lower than expected giving stocks a boost but the sell-off continued.
We will look to go short on some indices but wait for confirmation.
For example, on the Dow Jones Industrial Average we see price action heading for the upper trend line and MACD still looking bearish.
However, we may want to wait for a bounce and possibly an overbought stochastic oscillator.
As well, you can see how the Non-Farm Payrolls gave us opportunities to trade with the trend by sending price action temporarily against the trend.
In the news this week we have US CPI and PPI which may sway the fed in their next Interest Rate Decision.
We have Employment and GDP figures out of the UK.
And a European Interest Rate Decision where we expect a lower rate so watch for volatility.
We see mixed strength and weakness in EUR pairs so a counter-trend move might give us some good opportunities.
We are mixed with GBP pairs as well so watch for Counter-trend price action just after the news.
For example if we see price action moving up in a bear run on GBPNZD so, if price goes higher, it may reverse to the downside later.
That’s all for now.
CFDs and FX are leveraged products and your capital may be at risk.
Latest Analysis
- Forex Trading on EURUSD. USDJPY in Falling Wedge. Trading Long on Natural Gas? September 15, 2024 09:33 PM
- Gold (XAUUSD) in Ascending Triangle. Forex Trading Short on USDJPY. EURUSD in Falling Wedge. September 12, 2024 05:19 AM
- Forex Trading Short on US Indices and GBPNZD. EUR Interest Rates in Focus. September 09, 2024 06:21 AM
- September Market Selloff on US Indices. Forex Trading USDJPY Safe haven. WTI Crude Oil Falling. September 05, 2024 04:30 AM
- NASDAQ Hits Upper Trend Line WHAT'S NEXT for AUDCAD Range FOREX Trading! September 02, 2024 04:24 AM
- Forex Trading Gold (XAUUSD) in Rising Wedge. Natural Gas in Focus. Buy the Dip on NASDAQ? August 29, 2024 03:21 AM
- Forex Trading Gold (XAUUSD) in Rising Wedge. US Fed to Lower Interest Rates. RBA Focussing on CPI Tomorrow. August 26, 2024 06:36 AM
- Forex Trading Long on Platinum. Range Trading Silver (XAGUSD). USD Continuing Weaker. August 22, 2024 06:33 AM
- Forex Trading CAD with CPI in Focus. Silver (XAGUSD) at Key Fibonacci Level. Jackson Hole this Week. August 19, 2024 05:27 AM
- Forex Trading Long on AUDUSD. Oil and Gas in Focus. Silver (XAGUSD) at Key Resistance. August 15, 2024 05:41 AM
Open an account in minutes
Trade on our award-winning platforms with ultra-fast and ultra-secure execution.
OPEN AN ACCOUNT