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: the Dollar supported by Cloud
2019-11-11 • Updated
Technical levels: support – 108.30, 109.20; resistance – 109.60, 110.00.
- Sell — 109.60; SL — 109.80 TP1 — 108.60; TP2 — 108.30.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the market supported by 4H’s Cloud, but the prices under the strong pressure of 110.00.
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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