High-Impact Trading Week Ahead. Key Events, Insights & How to Maximize Opportunities

forex368 Forex Education
Oct 27, 2024
2 min read

Hey Traders!

Get ready for a thrilling week in the markets with major opportunities across forex, stocks, and commodities!

From Japan’s crucial election to high-stakes U.S. economic reports, here’s what you need to know to maximize your trades:

📈 Stock Highlights: NVIDIA vs. Apple

NVIDIA Becomes the World’s Most Valuable Company!

NVIDIA recently overtook Apple as the top tech giant, powered by soaring demand for its AI chips. As the leader in AI processing, NVIDIA’s momentum is expected to continue, especially as more companies embrace AI technology.
👉 Trade Idea: Buy NVIDIA (NVDA) if momentum holds. Keep an eye on Apple (AAPL) for potential dips as iPhone sales in China slow.

🛢️ Oil Prices Set to Decline

Oil prices are likely to fall as Israel’s recent strike on Iran avoided key oil infrastructure, easing supply fears. WTI could dip to $70, with Brent targeting $75 as tensions cool down.

👉 Trade Idea: Short Brent ($UKOIL) and WTI ($USOIL) with targets at $75 and $70.

🔥 Key Forex Events This Week

Japan’s Election & Bank of Japan Meeting 🇯🇵Japan’s election results and the BOJ policy update are expected to bring volatility to JPY pairs. With the ruling LDP party facing a tough election amid economic concerns, USD/JPY and EUR/JPY could be hot trades.
U.S. Data Releases 🇺🇸Key U.S. reports like GDP and Nonfarm Payrolls (Wednesday & Friday) could boost USD if data remains strong. USD/JPY and EUR/USD are top pairs to watch.
Commodities 🌍With rising safe-haven demand, Gold (XAU/USD) is another asset to keep on your radar this week as global uncertainties persist.