On January 12, the Bureau of Statistics will publish the Consumer Price Index (CPI) figures, a key index for determining interest rates. While we await the release, experts forecast a decline in the CPI data, a hint at weaker Dollar values in the global markets.
EUR/JPY: bulls enter the crossroads
2019-11-11 • Updated
Рекомендация: BUY 129.75 SL 129.2 TP1 130.95 TP2 131.8
On the daily chart, EUR/JPY bulls prepare an attack on the horizontal resistance aiming to return the pair inside the previous medium-term rising channel. If they succeed, risks of the bullish trend resumption will significantly rise.
On H1, the unsuccessful attempt of bears to make a “Head and Shoulders” pattern points at sellers’ weakness. A break of diagonal resistance will allow the bulls aim for 88.6% and 113% targets of the “Shark” pattern.
The trend in the scenario above is clearly bearish. We have also had a recent break of structure at the marked horizontal arrows, which means we can expect price to react from the supply zone that broke the structure.
Hello, my beautiful readers. This week, we continue our critically detailed look at the markets in hopes of getting profitable trading opportunities. As usual, I'll be starting with the DXY (US Dollar Index) since it holds considerable sway over the Major currency pairs.
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?
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.