EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
Oil is testing support
Information is not investment advice
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus. The spread of the disease may affect the commodity as the demand for it may decline because of the travelling bans. The decline below the support at 51.55 will mean that bulls are too weak to close the gap. Targets on the downside will lie at 50.90 and 50.00.
SELL 51.50; TP1 50.90; TP2 50.10; SL 51.75
To trade WTI with FBS you need to choose WTI-20J in MT4.
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
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The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
Oil keeps rallying for the fourth day in a row after Goldman Sachs claimed that the oil market is in deficit and also because of the recent storm in the Gulf of Mexico, which led to the sharp decline of oil production. It is the best week for oil since June!