
What happened? Japanese shares fell on Monday…
2019-11-11 • Updated
AUD/JPY recently broke below the key support level 80.6 (which has been revering the pair from March, as can be seen below). The breakout of this support level accelerated the active minor impulse wave 3 – which belongs to wave (3) from July. Given the strength of the active impulse wave 3 - AUD/JPY is expected to fall further toward the next sell target at the next support level 79.00 (forecast price for the completion of the active impulse 3).
What happened? Japanese shares fell on Monday…
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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