Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
EUR/GBP strengthening a bearish bias for the short-term
2019-11-11 • Updated
EUR/GBP has been trading within a bearish range below the 200 SMA at H1 chart. As the pair remains off from April 10th lows, we expect a rise to re-test the 200 SMA around the Fibonacci level of 50% at 0.8742. A break above it should expose the highs from April 2nd at 0.8793, which should strengthen the bullish bias for the short-term. However, if the pair breaks below 0.8691,then it can plummet towards the 0.8666 level.
RSI indicator stays in the positive territory.
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?