As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
EUR/JPY: yen is preparing another attack
2019-11-11 • Updated
TP1 128.30 TP2 127.95 TP3 127.45
On the daily chart, EUR/JPY pulled back after reaching 78.6% target of a Gartley pattern. Bulls want more and are ready to move to 88.6% target of the “Shark” pattern, but bears have other plans. They are counting on the formation of a “Bat”.
On H1, EUR/JPY keeps forming a “Spike and reversal with acceleration”. A successful test of the trendline of the initial stage will trigger AB=CD pattern.
First, the Euro dropping below the $1 level is rare…
The US dollar gained more than 2.5% against other currencies ahead of the NFP statement on Friday. As a result, EURUSD plunged to the 20-year low at 1.0100.
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US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?