Forex trading on Gold, interest rate decisions for CAD, EUR and JPY [Video]

For a while now we have been watching the US Indices trying to spot the reversal to the upside and we got it with the Dow Jones Industrial Average, the NASDAQ, and the S&P500 all reaching all-time highs.

Here we have the monthly charts just to see the last highs from November and December of 2021.

On the daily chart on the NASDAQ, for example, we saw the traditional Santa Claus Rally which ended on the 28th of December and investors took profit.

Don’t forget that the overall sentiment is being driven by the US Federal Reserve which is planning to lower interest rates this year so the forecast for equities is positive.

The stochastic oscillator picked the bottom of price action so we hope you were paying attention.

We have been following the volatility of WTI Crude Oil within this range.

Often when we see MACD like this we know there is no real trend and we see here again that the stochastic oscillator picks up almost every point of reversal for our range trading.

If we look at the 4-hour chart on Gold (XAUUSD) we see a clear downtrend but beware!

The daily chart tells a different story and if we do have a little way to fall, we have a key level at $2,000.

This week we have a tremendous amount of economic news from every major economy except Australia, 

We have Interest Rate decisions from the BoC and the ECB so watch for volatility.

Tomorrow, with a Monetary Policy Statement from the Bank of Japan, we may finally get a hint that they will abandon negative interest rates which will likely strengthen JPY.

We have Interest Rate decisions from the BoC and the ECB so watch for volatility.

That’s all for now. Thanks for watching and don’t forget to Like, Follow and Subscribe and feel free to leave a comment on what you would like to see in future videos.

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