Join Professional Market Commentator Cameron Buchanan from My Trading Academy for his weekly Market Wrap and Market Forecast for insight into the Global Financial Markets and what is driving them from week to week. Cam offers a fundamental overview for you to learn about the markets and how you too can learn how to trade, manage risk and take advantage of the global economic climate, whether the market is trending up or down.
My Trading Academy is a wholly-owned subsidiary of the International Day Trading Academy Pty Ltd. Cameron is CEO, Co-Founder and Director of the International Day Trading Academy Company and a regular contributor to YTE (Your Trading Edge) Magazine. He is known to his trading students as Cam the Trading Educator and Mentor, Live Trading Room Moderator and Professional Trader.
Watch the Global Market Forecast Video Below
Hi, Guys, it’s Cam Buchanan here from My Trading Academy, welcome to this weeks market forecast.
We’ve a huge amount of news again this week. We’ve got USA and China trade talks, and we’re coming so close to the end of a decission. Because of this uncertainty around, not just the USA trade talks, but there’s interest rate talks in the USA, there’s also geopolitical tensions, there’s also brexit talks still. So, there’s a lot of uncertainty, with that uincertainty, that creates fear and the maret will turn to gold. Gold is the currency of fear, so when fear rises, the price of gold rises too.
If we look at the chart we can see that the market has been in an uptrend. We’re in a position at the moment where the market is likely going to continue this upwards direction.
So, I’d say this week, I think we’re going to see big moves in gold to the upside. If you are a Day Trader, I’d be looking for those larger moves to the upside.
See you Saturday for the Market Wrap.