NASDAQ and S&P Recovering (a little bit) But Watch for More Tariff news! Forex Trading Short USDCHF Post-Interest Rates?

In today’s GCI Market Outlook let’s take a look at Forex Trading on WTI Crude Oil, Gold, XAUUSD, USDCHF, the DJIA, the S&P500, and the NASDAQ.

We can see from price action on the major US indices, that we have some risk-on recovery.

We even have a gap to the upside on the DJIA.

Everything in this video, and all our videos, is purely observational and does not constitute trading advice.

However, if we look at the S&P500 and the NASDAQ, we see that price action is forming a rising wedge which is often a bearish indication.

Also, watch out for tariff news!

The great orange one has promised massive tariffs on 2 April and every other major economy has threatened to retaliate.

In no way is this good news for the markets.

However, Donald Trump may change his mind again, and again.

Just be careful out there.

This week we have lots of economic news especially interest rate decisions from the BoJ, the US Fed, the SNB, and the BoE.

We also have speeches from each one of these including from the BoC on Friday.

All this news gives us opportunities to look for sudden price action movements against the trend, to let us enter positions to trade WITH the trend.

For example, the SNB are planning to lower interest rates on Thursday.

This may cause volatility either way, especially if they surprise the markets.

If price action moves up, against the current downtrend, use your indicators and the underlying news to make a trading decision.

Please take a look at all currencies affected by the news this week.

Gold is still well above $3,000 and, for the moment, we will ignore our technical indicators.

Why? There are simply too many negative geopolitical events happening with tariffs, in Ukraine, in Russia and in the Middle East.

WTI is recovering slightly, again for the reasons just mentioned.

Again, just like the S&P500, we see a rising wedge.

That’s all for now.

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