ONLINE FOREX BROKER
2019-11-11 • Updated
BUY 1.1410; TP 1.1440; SL 1.1400
SELL 1.1370; TP1 1.1345; TP2 1.1315; SL 1.1385
EUR/USD keeps trading with volatility but in a small range. There’s a very strong support level at 1.1310 (200-week MA). At the same time, there’s significant selling interest in the 1.1410/1.1440 area that has been limiting the upside since late October.
It seems that the market hasn’t made its mind yet about the future movement of the prices. As a result, it’s sensible to focus on small trades.
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.
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.
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
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?
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