AUD/JPY is in the downtrend since the start of the year. It was capped on the upside by all the three important moving averages on the D1.
WTI wants to recover
Information is not investment advice
WTI oil has found support in the 49.35 area for the second time this February. As concerns about the coronavirus ease, oil got a chance to recover. The price is currently testing the resistance of 50.80 (the area of the 2019 lows and the 50-period MA on the H4). The Awesome Oscillator on the H4 and the D1 timeframes are sending positive signals. As a result, an advance above 50.80 may trigger a correction up at least to 51.60/52.00.
To trade WTI with FBS you need to choose WTI-20H in MT4.
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.
Currently, the precious metal trades in the zone of 7-year highs. How far away is the all-time high?
Currency market is now in a different mood than what it was previously. JPY is on a rise now. To what extent it may gain value against the USD?
Market players are probably taking profit in gold to offset losses in other markets, so they are closing the previous buy positions in XAU/USD.
The oil cartel holds its extraordinary meeting next Thursday in Vienna. What's the urgency?