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.
EUR/CAD is near support
2019-11-11 • Updated
BUY 1.5140; TP1 1.5180; SL 1.5115
SELL 1.5085; TP 1.5045: SL 1.5095
EUR/CAD has approached the support line from the end of October. The pair formed a pinbar yesterday as it failed to close near the day’s high. However, the daily close was still above the 100-day MA at 1.5111, so bulls may still make another attempt to push the price to the upside.
If the pair manages to hold above the support line and overcomes resistance at 1.5200, it will get a chance to rise to 1.5265 (200-day MA on H4). The loss of support at 1.5090 will make the euro vulnerable for a decline to 1.5045 (100-week MA) and open the way down towards 1.4940.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
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.
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?