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FXTrading.com \ FXT Analysis \ Global Market Snapshot 26th February 2024

Global Market Snapshot 26th February 2024

Traders are always looking to jump on the most probable trade setups, so this article is going to share some of the most opportunistic pricing currently sitting in the market across the globe.

CADJPY is sitting at historically high prices, be sure to consider what happened in the leadup to the GFC on this one. Could the CADJPY be running into a 20 year cycle to the upside or will these current high prices fade?

AUDNZD has had a tough time staying below the current price. This 1 month per candle chart shows the historic pricing and the wicks that ensue on this price range over the past year.

Many traders would likely fear going short from this level, knowing that so many times before the AUDNZD has risen higher and formed a wick on the candle around this pricing area.

USDJPY has been the talk of the town in the past few years, as it rose heavily. The USDJPY is about to once again reach the high prices seen in the past few years potentially creating a triple top on a monthly candlestick chart.

It seems nothing will stop the Dax over the years, with the top 30 companies in Germany forming a powerhouse of economic development in the European area. The DE30 is trading at all time highs and has a strong history of perpetually rising over periods of greater than 1 year. There will be plenty of traders looking to wipe those gains out but will the German stock index market power on to further highs?

The Dow Jones 30 index or US30 is also sitting at all time highs. This global economic powerhouse is steaming ahead with no signs of slowing down. News and media often have us believe the economy is struggling, all the while, the market is actually booming to prices higher than we’ve ever seen. 

This global market snapshot has taken into consideration some big movers on monthly charts to provide a macroeconomic view of the pricing across different forex and index markets.