
What happened? Japanese shares fell on Monday…
2019-11-11 • Updated
USD/JPY has been rising sharply after the earlier upward reversal from the key support area lying between the strong support level 108.80 (which was set earlier as the sell target and which has reversed the price with the daily Morning Star at the start of August and also with the daily Bullish Engulfing in the middle of June). USD/JPY is expected to rise to next buy target at the next resistance level 110.90 (top of the previous wave 2, which intersects with the 38.2% Fibonacci correction of the downward impulse 1).
What happened? Japanese shares fell on Monday…
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!
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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