
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.
2019-11-11 • Updated
Recommendation: BUY 110,6 SL 110,05 TP1 112,1 TP2 113,8.
On the USD/JPY daily chart, the Bears' failure to move below support at 109.35 (78.6% of the last corrective wave) was a signal of their weakness. To launch a counterattack, the Bulls need to break the resistance at 110.5. Once it is broken, the risks for implementation of the target 88.6% of the Shark inverted pattern will increase substantially.
On the USD/JPY hourly chart, a further direction of the pair will be determined by the Bulls' attempt to return the quotes to the previous consolidation range of 110.35-111.9. If they succeed, the formation of the Shakeout-Fakeout pattern may lead to the continuation of the rally.
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.
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
On January 12, the Bureau of Statistics will publish the Consumer Price Index (CPI) figures, a key index for determining interest rates. While we await the release, experts forecast a decline in the CPI data, a hint at weaker Dollar values in the global markets.
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?
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