What happened? Japanese shares fell on Monday…
USD/JPY: bearish "Harami" pattern
2019-11-11 • Updated
There's a bearish "Harami" pattern, which has been formed under the nearest resistance area. So, we should keep an eye on the closest support area as an intraday target.
The last "Shooting Star" pattern has been confirmed, so the current bullish correction is likely over. In this case, there's an opportunity to have another decline in the direction of the lower "Window".
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!
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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?