
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Don’t waste your time – keep track of how NFP affects the US dollar!
Data Collection Notice
We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.
Join Us on Facebook
Stay on top of company updates, trading news, and so much more!
Thanks, I already follow your page!Beginner Forex Book
Your ultimate guide through the world of trading.
Check Your Inbox!
In our email, you will find the Forex 101 book. Just tap the button to get it!
Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77.93% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.
You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.
Information is not investment advice
The outlook for the oil market is relatively upbeat at the moment. A month ago, OPEC+ decided to raise the oil supply in view of the recovering demand. A week ago, the cartel reaffirmed that decision keeping the same upbeat projection for the oil market for the rest of the year. As a result, WTI oil rose to challenge the March highs of $68 and looks set to reach $70. If that happens, the zone of six-year highs of $70-76 will be open for bulls.
In the meantime, traders need to be ready to see the oil price bounce downwards from those highs or go sideways. Trading below $70, the WTI oil price is already considerably high against the previously announced observers’ expectations for 2021. The resistance above $70 may prove to be stronger than before as the markets are stabilizing, and the recovery, as dynamic as it is in the US, may not push the oil market forever. Therefore, keep an eye on the key resistance of $70 and watch how the oil price behaves around it. Prepare for all scenarios from sudden plunges to prolonged periods of flat horizontal patterns.
A weekly chart gives a very clear view of the gold price performance. So that, the nine-month downtrend that started at the highs of August above $2,000 hasn’t seen any change. However, the current resistance of $1,800 may be a turning point. If the gold price crosses it, breaks the resistance of the 50-MA, and manages to stay above these marks, it’ll be a trend change. In this case, bulls will claim the right to go for $2,000.
However, is there a fundamental base for such a move? The gold price reached $2,000 because of the devastating effects of the virus and the pessimism that’s been ruling the markets in the first part of 2020. Now, we’re in recovery mode. Although there are many states where the infection rates are rising, the virus is no longer a novelty. Gold needs a more solid reason to set a new record. May it be another global geopolitical crisis? Given the current trends in the relations between the US, Europe, and China, there is a possibility. If things go bad between those countries, gold will definitely reach $2,000.
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
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? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later