What happened? Japanese shares fell on Monday…
USD/JPY: 34 Moving Average acting as support
2019-11-11 • Updated
The last 'Doji' led to the current consolidation. Meanwhile, we've got a bullish 'High Wave', so the pair is likely going to test the upper 'Window', which could act as resistance.
The 34 Moving Average is acting as support, but there's a bearish 'Hanging Man' pattern. So, the market is likely going to test the 34 MA once again. A pullback from this line could be a starting point for another upward price movement.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.