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: no one wanted to give in
2019-11-11 • Updated
BUY 126.9 SL 126.35 TP1 127.9 TP2 129
SELL 124.95 SL 125.5 TP1 123.95 TP2 122.95 TP3 120.3
On the daily chart, EUR/JPY reached 88.6% target of the “Bat”. If the current convergence area doesn’t stop bears, risks of transformation of “Bat” to “Crab” with target at 161.8% will increase.
On H1, there are prerequisites for a junior “Shark” in the area of 127.2 interim target of the senior “Crab” pattern. To trigger it, bulls will need a successful test of resistance at 126.90.
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.
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.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.