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Gold (XAUUSD) back to $2,000? Counter-Trend Trading on Central Bank Price Action.

   

Welcome to this week’s Market Blast Fundamentals.

Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals

I’m Brad Alexander and, on behalf of Valutrades, today we will take a look at Gold (XAUUSD), GBPUSD, USDCAD, EURAUD,  and EURJPY.

 

Investors were hoping for more action and more information from last week’s ECB meeting, they didn’t get it, and EUR fell.Screenshot 2022-04-18 at 11.51.38

As we know EURJPY has been trending up for weeks and the ECB gave us the perfect counter-trend opportunity.Screenshot 2022-04-18 at 11.51.51

As soon as price action fell to support, this gave active traders the opportunity to buy back into the trend.

Remember, “The trend is your friend” and counter-trend price action moves like this, based on fundamental economic news events, are a part of a solid trading plan and strategy.Screenshot 2022-04-18 at 11.52.02

The same could be said of EURAUD however the uptrend is more recent.

So, now you know why we spend so much time looking at the economic calendar and how central bank governors can move price action quickly.Screenshot 2022-04-18 at 11.52.16

This week we may see the same thing with the ECB´s Christine Lagarde, US Federal Reserve’s Jerome Powell, and the Bank of England’s Andrew Bailey.

As well, Retail sales figures from the UK and Canada.Screenshot 2022-04-18 at 11.52.27

We see GBP getting stronger against everything except USD so, here again, you can look for counter-trend price action moves.Screenshot 2022-04-18 at 11.52.40

And, speaking of uptrends, we will be watching gold this week to see if we return to $2000 and if Jerome Powell gives us a counter-trend opportunity here as well.

Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below. 

Also, subscribe to our YouTube channel and register on the Valutrades website to get notifications on new content as it happens.

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

CFDs and FX are leveraged products and your capital may be at risk.18 April 2022 Fundamentals EN TN

 

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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