ONLINE FOREX BROKER
2019-11-11 • Updated
USD/JPY has been rallying since November 27th and is doing a consolidation above the 200 SMA at H1 chart. According to our Fibonacci projections, the pair is expected to perform a correction in favor of the bulls, which could target the demand zone established between the 111.94 and 111.61 levels. If it manages to rebound above that area, it’s expected to test the next Fibonacci target of -23.6% at 113.58.
RSI indicator remains in the positive territory.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
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…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
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.
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