Forex Trading USDCAD. Is Gold (XAUUSD) Poised for a Move Higher? US Inflation in Focus.

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Good day Team GCI.

I’m Brad and in today’s GCI Market Outlook, let’s take a look at Forex Trading on WTI Crude Oil, USDCAD, EURUSD, and Gold (XAUUSD).

We have an interesting technical setup on Gold where price action has been falling for days and has intersected this lower trend line in an uptrend.

The Stochastic Oscillator is oversold but is basically undecided about a reversal.

If we move in to the 4-hour chart, we actually see a downtrend but with a key level of support at $2015.

If we zoom out we can see just how important this is so we will wait for a bounce to the upside and confirmation from our technical indicators, or a break to the downside.

However, please be aware of this week’s economic news where the US Federal Reserve will be watching the US Consumer Price Index and the US Producer Price Index.

These are key indicators of inflation which is a key driver for Interest Rate Decisions.

If CPI is lower than expected, the Fed may decide to lower interest rates sooner which will weaken USD and drive price action on XAUUSD higher.

Of course, this will affect all USD pairs which appear to be in consolidation now.

One pair that is clearly in an uptrend is USDCAD so, if we get a pullback from the US CPI news, we may have a long opportunity on USDCAD.

Why is CAD so weak?

Well, if you look at the daily chart on WTI Crude Oil, we see the drop in price from September and the downtrend continuing.

If we move out to the 4-hour chart we see this Symmetrical Wedge which is a consolidation pattern so you can range trade between the trend lines.

And/or you can wait for a break and trade long to resistance but more likely short to the next level of support.

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.

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Stochastic Day Trading Strategy, Forex Trading USDCAD. Is Gold (XAUUSD) Poised for a Move Higher? US Inflation in Focus..

Forex Trend Analysis – How To Figure Out When The Best Time Is To Sell

These are the long term investments that you do not rush into. For that reason if there is an opportunity for you to do a counter pattern trade keep in mind DO NOT take that trade. They will “bring the stocks in” to adjust their position.

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Discover Forex Using Pivot Points

The buzzword today in trading is “indications, indications, indicators”. In an uptrend each new peak that is formed is greater than the previous ones. Drawing trendlines on these charts will reveal you where the market is heading.

Pattern trading is absolutely my favorite type of trading. When the marketplace patterns, you can make a lots of money in just a really short time. However, many of the time the marketplace isn’t trending. Often it merely ranges back and forth. Does this mean you need to just walk away? Hardly! You can make cash in a ranging market, and here is how.

Trade the odds and this indicates rate momentum ought to support your view and validate the trade before you get in. Two excellent momentum signs are – the Stochastic Trading and the Relative Strength Index – look them up and utilize them.

His main approaches involve the Commitment of Traders Index, which reads like a stochastic and the second is Major & Minor Signals, which are based on a fixed dive or decrease in the previously mentioned index. His work and research study are first class and parallel his character as an individual. However, for any methodology to work, it needs to be something the trader is comfortable with.

If you Stochastic Trading take a look at the weekly chart you can plainly see resistance to the dollar at 114. We also have a yen trade that is up with lower highs from the July in a strong pattern the mid Bollinger band will serve as resistance or assistance, in this case it serves as resistance and is simply above the 114.00 level. Momentum is up at present – will the resistance hold its time to take a look at the daily chart.

You need to have the Stochastic Trading state of mind that if the break occurs you choose it. Sure, you have actually missed the first bit of earnings however history shows there is normally plenty more to follow.

When a price is increasing highly. momentum will be increasing. What you need to search for is a divergence of momentum from rate i.e. prices continue to increase while momentum is refusing. This is called divergence and trading it, is among the very best currency trading techniques of all, as it’s alerting you the pattern will reverse and rates will fall.

In typical with practically all elements of life practice is the crucial to getting all 4 components working together. This is now much easier to accomplish as numerous Forex websites have presentation accounts so you can practice without risking any actual money. They are the closest you can get to trading in real time with all the pressure of potential losses. However remember – practice makes perfect.

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