ONLINE FOREX BROKER
2019-11-11 • Updated
Recommendation:
SELL 126.55
SL 127.1
TP1 125.55 TP2 124.75 TP3 123.5
On the daily chart of EUR/JPY, the pair keeps reaching targets of the "Broadening wedge" pattern. A break of resistances at 129.95 and 131.15 will increase odds of the longterm uptrend's recovery. Vice versa, a successful test of supports at 126.55 and 125.75 will pull the pair down.
On H1, there is a high possibility of the implementation of the "Spike and ledge" pattern within 127.55-129.55. If the pair leaves this range, the further direction of the pair will depend on the strength of bulls and bears. Bulls can hope for an implementation of the "Bat" pattern, bears can hope that the pair will reach the 200% target of the AB=CD pattern.
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.
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.
Later today Tiff Macklem, the governor of the BoC (Bank of Canada) is expected to speak at the Riksbank's International Symposium as part of a discussion panel on 'Central Bank Independence'.
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.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
