JPY Weakest Currency…Again. New cTrader Video on Placing Orders and Risk Management. Forex Trading AUD on Elections.

In today’s GCI Market Outlook let’s take a look at Forex Trading on Gold, XAUUSD, Silver, XAGUSD, the S&P500, AUDJPY, NZDJPY, and GBPJPY.

After this week’s announcements by the BoJ, JPY is weaker again.

We were considering a short on GBPJPY last time and we see that the news has driven price action up, nearing the upper trend line.

Keep an eye on your technical indicators and the trend line for an opportunity to sell GBPJPY and other JPY pairs.

If you are thinking of making the move to cTrader, take a look at our latest video which looks at placing market orders and risk management.

This is one of the most important features of cTrader.

We see virtually all global stock indices recovering like this in the S&P500 heading for the next key level.

MACD is bullish but the stochastic oscillator is overbought and, keep an eye on US/China trade relations and this will affect almost everything.

Also, we have the US Non-Farm Payrolls today which may influence the Fed with their Interest Rate decision next week.

The Fed have said that they plan to lower interest rates by the end of the year.

We spotted this descending triangle last time on gold and price action broke through support.

We see a pullback for another short opportunity and we will keep an eye on the technicals for confirmation.

Also, last time, we spotted a short opportunity on silver and, in fact, price fell to support at $32.

Just like on gold, we have a pullback with the stochastic oscillator overbought.

That’s all for now.

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