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 Wrap Video Below
Hi, Guys, it’s Cam Buchanan here from My Trading Academy. Let’s take a look at the week that was, in the global financial market.
All eyes turned to Europe this week, waiting for the announcement of the interest rates, and the rumour was that the interest rates were going to be cut, and with that, the expectation that the market was going to surge, and it did. It surged, it broke key resistance levels and it tested the most recent highs.
The president of the ECG also stated that the acconomy is good at the moment, and farely solid, however, the future forecast was poor. And because of this result, the market actually dropped very, very hard, and as you can see in the chart, the market fell all the way back down to the start of the week from where the market market actually broke out of that resistance level.
The good news is as Day Traders this is the prime time to take advantage of the volitility and get in and out of the market in a very, very short time.
That’s a wrap for the week, look forward to seeing you Monday for the weekly forecast.