What happened? Japanese shares fell on Monday…
USD/JPY: bullish "Morning Star"
2023-05-09 • Updated
The 34 Moving Average has acted as a resistance, so we’ve got a “High Wave” on this line. However, there’s also a “Morning Star”. Under this circumstances, the 34 Moving Average is likely going to be tested again in the short term.
We’ve got a bullish “Engulfing”, which has been confirmed enough. Moreover, there’s also a “High Wave” pattern, which was formed at the last low. Therefore, the market is likely going to test the nearest “Window” shortly.
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.