Forex Trading NASDAQ at All-Time Highs. Silver XAGUSD Mixed Signals.

In today’s GCI Market Outlook, let’s take a look at Forex Trading on USDCAD, WTI Crude Oil, SilverXAGUSD, the S&P500, the Dow Jones Industrial Average, and the NASDAQ.

As we discussed last time, we did see a recovery in the US indices with the NASDAQ hitting all-time highs.

So? Will the S&P 500 and the Dow Jones Industrial Average follow?

All the US Indices recovered as investors bought the dip and calmed down a little about US/China trade relations.

There is tons of optimism about tech companies like Apple and those involved in AI, so the NASDAQ performed.

The question is: will the S&P500, DJIA and the Russell catch up?

Technically, they all look overbought, but the fundamental story is still the chaos in Washington.

Also, don’t forget the uncertainty in the financial sector, which does not affect the NASDAQ.

I know a lot of you like to trade silver, and we were speculating a reversal last time.

To be honest, we are getting mixed signals on every time frame.

Bearish on the daily if the signal line on MACD pops out;

Bearish on the 4-hour, but watch the lower trend line;

But Bullish on the 1-hour.

WTI is still falling based on demand forecasts thanks to global trade confusion, increased supply, and geopolitical tensions.

Any changes in these factors will only help the price of crude.

And, as we know, the price of crude directly affects CAD, which has returned to $1.40 on USDCAD.

So, watch for today’s Canadian CPI and check all your CAD pairs for counter-trend moves.

Speaking of CPI, we have UK figures tomorrow, and who knows if we will get US figures on Friday, thanks to the shutdown.

That’s all for now.

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