Market sentiment analysis:
- Sentiment is weak in the global financial markets and a recovery seems unlikely for a while yet.
- That is benefiting the traditional safe havens and weakening “risk on” assets.
Traders lacking confidence
Trading sentiment is poor, with traders moving from “risk on” assets such as stocks into safe havens such as the Swiss Franc, the Japanese Yen and US Treasuries. The US Dollar, which until recently was seen as a haven too, is also suffering.
USDJPY Price Chart, Hourly Timeframe (November 12-20, 2018)
Elsewhere, the sharp selloff in crude oil prices is continuing, and the British Pound remains under pressure from Brexit.
In this webinar, I looked at sentiment in all the major markets and how they could move in the days ahead.
Resources to help you trade the forex markets
Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:
- Analytical and educational webinars hosted several times per day,
- Trading guides to help you improve your trading performance,
- A guide specifically for those who are new to forex,
- And you can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.
--- Written by Martin Essex, Analyst and Editor
Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex
