Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.
USD/JPY: dollar falling to negative zone
2019-11-11 • Updated
Technical levels: support – 109.20, 108.80; resistance – 109.75.
- Sell — 109.75; SL — 109.95; TP1 — 109.20; TP2 — 108.80.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market returned to negative zone and may change the main trend soon.
What happened? A rise in Treasury yields and solid US labor data on Friday boosted the dollar, which climbed against the basket of major currencies…
Last week was bearish for risky assets such as stocks, oil, gas, and crypto. Will the upcoming week change the situation across the markets? Let’s look at it in detail!
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