Crude Surges on Hormuz Chaos | Big moves on Gold XAUUSD, USDJPY, USDCHF, Post-NFPs.

In today’s GCI Market Outlook, let’s take a look at Forex trading on Gold, XAUUSD, Silver, XAGUSD, USDCHF, USDJPY, EURUSD, the NASDAQ, the Dow Jones Industrial Average, WTI and Brent Crude Oil.

Just a reminder that these videos are intended as educational, we are only observing current market conditions, and these are not to be considered as trading advice.

As we can see from the charts, WTI fell to $67.40, and Brent fell to $69.90.

Suddenly, Iran attacked tankers in the Strait of Hormuz, the US military retaliated, and Donald Trump announced that the ceasefire is all but over.

Of course, prices rose quite quickly, as crude oil tanker traffic is in jeopardy, above $76 and $80, respectively.

If we look at the lower time frames, we see consolidation, but by the time you watch this video, this may all have changed.

Also, this is a dynamic situation and any news, good or bad, will drive price action on both WTI and Brent.

The current US position is that they will only block Iranian ships in the strait, but that will probably instigate more aggression, so watch the news.

The US Indices fell on the Iran news and reversed right on cue, with the stochastic oscillator turning up from oversold.

As has happened many times, the DJIA is lagging behind, so we may have an opportunity in the next few days.

Also, we see that the S&P500 looks technically healthier than the NASDAQ, which may indicate a rotation away from tech stocks, perhaps because of public backlash over data centres.

Also, many major news agencies are reporting studies that show humans are cheaper to use than AI in many roles, and many AI services are currently overpriced.

So, we are going to be a bit wary of the NASDAQ as we see the stochastic oscillator very overbought and price action at the upper trend line in this 3-week-long bear run.

Keep an eye on all the indices and the news of course.

If you saw the last video, we took a serious look at economic news trading on the back of last week’s US Non-Farm Payrolls.

The strategy is called the News Catalyst Fade, and here is the link:

https://youtu.be/7U89X7dVsC8?si=kZbJMsEv751oWymr

EURUSD has, in fact, reversed from the NFP highs, but we will watch this attempted break higher and our technicals to see if the downtrend continues.

USDJPY completely rebounded from the NFP drop and is now forming a rising wedge, which is often a bearish pattern.

Keep in mind that USDJPY has not been at this level since the 1980s.

And another pair we spotted, USDCHF, continued higher after the NFPs.

We see a pullback today, so keep an eye on your other CHF pairs and your technicals for the bullish continuation.

And, as we showed in the last video, both Gold and Silver reacted exactly the same in retreating from the NFP spike, even though they waited one more day before the fall.

And, of course, keep an eye on this key level below at $4,000.

Tomorrow we have Canadian Employment Change, and we see mixed strength and weakness, so we will be looking for another opportunity for the News Catalyst Face Strategy.

That’s all for now.

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