What happened? Japanese shares fell on Monday…
USD/JPY: bears going to test nearest "Window"
2019-11-11 • Updated
There are a "Shooting Star" and a "Harami" patterns, which both have been confirmed enough. In this case, bears are likely going to test the nearest "Window", which could be a departure point for another upward price movement.
The price reached the 34 Moving Average, so there's an opportunity to have a local bullish correction. However, bears are likely going to test the 89 MA afterwards, which could act as support.
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!
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.