The oil prices rally and world central banks’ dovish monetary policy caused by the Covid-19 pandemic were the main reasons for current inflation growth…
GBP/JPY ending a corrective phase
2019-11-11 • Updated
GBP/JPY has been trapped in a bearish correction Since December 8th highs and now it’s testing the 200 SMA at H1 chart. Also, the pair has touched a demand zone established between the 50% and 65% levels at 150.18 and 149.21 respectively. If it manages to rebound above that area, the next target should be placed at the -23.6% level at 154.91.
RSI indicator remains in the neutral territory, calling for further sideways in the next hours before to make a decisive move.
Weaker recoveries were seen in both the UK manufacturing and service sectors, with the latter recording the greatest loss of momentum since July.
What will happen? The Bank of England will present a monetary policy statement on Thursday, August 4 at 14:00 MT (GMT+3)…
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.