Trading the BIG Reversals. Omicron Crushing Crude Oil and the Indices.

Welcome to this week’s Market Blast Fundamentals.

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I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at the FTSE 100 (UK100), NASDAQ (US100), WTI (USOil), and USDTRY.

As traders we like to take advantage of big reversals so, if you are waiting for the big return to normal levels on USDTRY, be very, very careful!

As most other central banks are looking at raising Interest Rates, the Turkish Central Bank is lowering Interest rates which makes no economic sense.

We will have an opportunity here, but not yet, as the Turkish Lira is now worth one-tenth of its value in 2012!

In a normal global economy, when a country has a dramatic fall in the value of its currency, its own economy is boosted by tourism and exports but, under COVID Omicron, that is not going to happen anytime soon.

Speaking of Omicron, the price of WTI and Brent Crude are falling again based on the lack of demand.

As well, global stock indices are falling and we see the NASDAQ breaking through this key level of support.

The European Indices fared even worse with most opening with gaps, like this one on the FTSE 100.

So, we have lots of opportunities for trading reversals, but we need to see better economic news, and better news on COVID, before we enter these positions.

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That’s all for now.  Happy trading with Valutrades and we will see you next time.

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