Reversal Trading: FTSE100, GBPUSD, Gold and DAX Charts
The market is in a state of reversal, which can be very hard for trend traders to manage. Follow the signals and try not to give back any of your profits to the market. The USD is still acting like a safe haven when there is a strong risk of moves and gold looks like it might start to break out, but this is not confirmed yet. The oil market drop has coincided with the fall in the indices compounding the woes of the risk assets. Looking ahead the main issue for the stock markets comes from the potential second wave in the COVID-19 Pandemic. If this situation gets worse in the US, prepare for more trouble ahead in the Dow and S&P 500. The Nasdaq could be safe as it is mostly tech firms.