Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
USD/JPY: bearish "High Wave" pattern
2019-11-11 • Updated
The last bearish "Harami" led to the current decline, but the Moving Averages are acting as support. Also, there isn't any reversal pattern so far, which means the price is likely going to continue declining until any bullish pattern forms.
The 89 Moving Average has acted as resistance, so we've got a bearish "High Wave" pattern. In this case, the last low is likely going to be broken soon. If any reversal pattern arrives afterwards, we could have a bullish correction towards the nearest resistance.
What happened? Japanese shares fell on Monday…
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.
Let's take a closer look at Australia's recent economic performance. Brace yourselves for some interesting developments. The country's economy experienced its slowest growth since late 2021 in the first quarter, raising doubts about the Reserve Bank of Australia's rapid interest rate increases. Despite the bank's record-breaking 12 rate hikes in the last 13 months, the resource-rich economy only grew by a modest 0.2% in the quarter, falling short of economists' expectations.
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