ONLINE FOREX BROKER
2019-11-11 • Updated
Recommendations:
BUY 0.7195 SL 0.714 TP1 0.7295 TP2 0.7325 TP3 0.748
BUY 0.716 SL 0.7105 TP1 0.726 TP2 0.7325 TP3 0.748
On the daily chart of AUD/USD, after the pair reached the 88.6% target of the "Shark" pattern, a logical pullback happened. Bulls need to break the November high and break the resistance at 0.7325 (61.8% of the longterm upward wave).
On H1, there is a transformation of the "Shark" pattern to 5-0. Pullbacks to 23.6%, 38.2% and 50% of the CD wave usually used to buy.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
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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