What happened? Japanese shares fell on Monday…
USD/JPY: bearish 'Engulfing'
2019-11-11 • Updated
There's a bearish 'Engulfing', which has been confirmed enough. However, if the 144 Moving Average acts as support, the market is likely going to test the upper 'Window' shortly.
We've got a bullish 'Hammer', which has been formed on the 55 Moving Average. At the same time, the nearest support is likely going to be tested once again in the short term.
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.