Forex Trading Long Again on GBPUSD & NZDUSD. Range Trading AUDUSD. Japan Interest Rates Tomorrow.

In today’s GCI Market Outlook, let’s take a look at Forex Trading on WTI Crude Oil, EURJPY, AUDUSD, GBPUSD, and NZDUSD.

Last Friday’s US Non-Farm Payrolls came in much better than expected spending USD flying and we took a nice trade if you caught our last video.

Before we look at that, don’t forget to Like, Subscribe and Get Notified on YouTube, Facebook and Instagram.

So, why the success story?

Firstly we entered the trade based on a move against the trend on the back of the NFP report.

Price action hit this level of support and the stochastic oscillator was very oversold.

Price continued in its bull run, and then the US CPI report came in lower than expected.

As well, Jerome Powell is still talking about lowering Interest Rates but no one knows when.

This was enough to send USD weaker which hit our profit target at the upper trend line.

We will try to repeat this trade when we see confirmation of upward movement.

If you saw the last video, we also recommended the same trade on GBPUSD.

The results were identical and we will wait for the next long opportunity.

Come back here on Monday as we will have some important GBP news for next week.

The news has also helped us with range trading opportunities on AUDUSD as price action hit resistance and nicely reversed.

If you are short AUDUSD, the next key level below is around $0.66.

We promised to take a look at JPY today as the BoJ will be announcing its Interest Rate Decision tomorrow.

However, we still see incredible JPY weakness with GBPJPY at an eye-watering 200 and 2 other pairs breaking resistance as well.

The only serious opportunity may be on EURJPY as EUR is generally weak, but be careful.

And finally, we are watching WTI which might be ready for a reversal to the downside.

That’s all for now.

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