Trump Crashes Markets! When Will it End? New cTrader Video. CAD Interest Rates in Focus.

In today’s GCI Market Outlook let’s take a look at Forex Trading on EURUSD, USDCAD, AUDCAD, NZDCAD, WTI Crude Oil, and the NASDAQ.

The NASDAQ chart tells the story with roughly $4 trillion being wiped off the markets.

Sadly, there is no technical indicator that can help us predict whether the markets will fall further or reverse.

This is the difference between technical analysis and fundamental analysis.

The only indications we have on trading indices is the news coming out of the White House.

Considering the guy in charge has no concept of how global economics work, we really don’t know.

For some good news, we have published our next cTrader video on Basic Charting so check it out on our YouTube page or on Facebook.

Uncertainty has affected the crude oil market with talks of recession and tariffs as we can see on this weekly chart on WTI.

Price action is stuck at this key level of support in this descending triangle that started about 2 1/2 years ago.

If recession rumors persist, demand will fall and prices will fall as well.

If we look at the daily chart, price has broken below $67 and is now at $66 which was support last September.

We have some economic news on the calendar but, under the circumstances, we aren’t sure they will impact price action.

But, we see a prediction, tomorrow of a reduction in Interest Rates.

If the Bank of Canada thinks that inflation might be a problem in the near future, which is logical under the threat of the crazy tariffs, this may not happen.

The charts show general CAD weakness except against AUD and NZD so we may have countertrend opportunities after the news event.

EUR is our strongest currency right now with many countries pledging to boost defense spending.

We see a technical indication that EURUSD is overbought but, please wait for fundamental and technical confirmation before going short…if at all.

That’s all for now.

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