What happened? Japanese shares fell on Monday…
USD/JPY: price to reach the upper 'Window'
2019-11-11 • Updated
The price has broken the Moving Average lines because of the last 'Three Methods' pattern. It's likely that the market is going to reach the upper 'Window' (112.65) in the coming hours. If a pullback from this level happens little later on, bears will probably try to achieve the previously tested support at 110.32.
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!
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?
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.