What happened? Japanese shares fell on Monday…
USD/JPY: bearish 'Engulfing'
2019-11-11 • Updated
There's an 'Evening Star', which has been confirmed. Therefore, the market is likely going to test the 34 Moving Average in the short term.
We've got a bearish 'Engulfing', which has been formed on the upper 'Window'. In this case, we're likely going to have a downward correction in the coming hours.
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!
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?
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.