A look at the day ahead in U.S. and global markets by Alun John, EMEA breaking news correspondent, finance and markets
Things are feeling calmer on Monday morning, though we will see how long that lasts as it’s going to be an action-packed week.
EURUSD came with a pip of 1.0871 resistance before reversing to come within a haor of redent 1.2825 support.
Note how 1.0850 is setting its tone.
AUDUSD lagging and trading both sides of .6550. Aussie CPI report is due on Wednesday and will be watched closely as RBA as interest rates are seen on hold for the foreseeable future.
USDJPY DAILY CHART – WEEKLY OUTLOOK FROM THE GLOBAL-VIEW.TRADING CLUB
The retreat from 161.93 has seen broad unwinding of short JPY position before a pause on Friday. Watch AUDJPY, which has been a leader.
151.84 tested (double bottom) which suggests
152-155 as a potential range ahead ot the key BOJ decision on Wednesday with the upside limited as long as 155 holds.
Watch the 200 day mva (yellow), especially after thge BOJ
How the market reacts will depend on
Whether there is a surprise (e.g. no rate hike) or
How much is already discounted
GBPUSD DAILKY CHart – POSTED IN THE GLOBAL-VIEW TRADING CLUB WEEKLY CHARTS
The key event will be Thursday’s BOE decision where a rate cut is possible in what will be a close call.
1.28-1.29 is the current range with THE KEYBTREBDLKINE AND retracement level below 128 and 1.30 on the radar if above 1.30.36
1.2777 SUPPORT IS ALSO 61.8% OF 1.2612-1.3044 SO THE LEVEL THAT NEEDS TO HOLD TO MAINTAIN HOPE THAT THIS IS A RETRACEMENT.
BTCUSD Weekly Chart
Resistances at : 70.750 , 73.850 & 78.400
Supports at : 65.500 , 64.250 & 54.150
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