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Trump’s Intraday Rollercoaster: How did markets react?

Thursday, January 12, 2017 7:44 AM GMT

Any traders with positions open yesterday during the Trump Press Conference saw great opportunities against the dollar but big gains for commodity markets like Oil and Gold. 

President-elect Donald Trump had his first conference since his victory speech and this event was highly anticipated.  However, Trump avoided to provide new information on his planned growth policies and mainly focused on Russia and U.S intelligence agencies as well as the pharmaceutical companies. Many analysts commented that monitoring Trump’s twitter may be the best way to get information on U.S. stimulus plans. 

Therefore, markets looked a lot like cardiographs during his speech and had very sharp moves in both directions. Traders described the price action as “intraday rollercoaster”. US Dollar was under selling pressure as well as JPY pairs continued falling. On the contrary, Treasuries, Oil and Gold had important gains.

Let us see few examples like US30, DAX, EURUSD, USDCHF:

DAX


US30


EURUSD


USDCHF


See below a few of our own updates to review what was posted on @ZuluTradersDesk (tweeter account) providing potential trading ideas before and after the Trump conference.

GBPUSD
Here there was a positive MACD divergence.
Before:


After:


EURUSD
You could read this chart with commentary in our yesterday’s post on our blog
Before:


After:


USDJPY
Here there was a major trend line acting as resistance.
Before:


After:



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