Technically, Brent made a big advance yesterday rising from the support of the 100- and 50-day MAs in the 61.25 area.
Daily Market Analysis
What will move markets at the end of the year.
The bearish bias appears to start losing power. The market reversal upwards is still to be confirmed.
The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday.
OPEC will hold another meeting on December 5-6. This article examines the possible outcomes of this meeting in the context of one of the primary influence factors.
EUR/USD was supported in the 1.0990 area last week. The support was strengthened by the fact that the attempted breakout of this level failed.
NZDCAD has been rising today, a bearish reversal possible soon
While some predict the global crisis, recession, and even global depression, others are not afraid to forecast the stabilization of the global economy.
The AUD is under negative pressure primarily because of Australia’s domestic problems. Learn more!
The price has been showing an uptrend lately, but may go into a bearish reversal in the short-term.
The stock of Pepsico formed a higher low and arrived at the resistance line that connects October and November highs in the 136.50 area.
USD/JPY had a bullish week. Yet, we should notice that the pair has reached some heavy resistance: 100-week MA (109.66) and 200-week MA (109.84).