Despite Thanksgiving last week, the markets exhibited a high level of volatility especially on Friday as participants observed the Shanghai Composite Index tank over 5%. Gold also sank to fresh 5 year lows following the growing expectations of a US interest rate rise. This week is set to be quite volatile as most will be awaiting the European Central Bank (ECB) decision on Thursday and US Non-Farm Payroll on Friday for November.
-The EURUSD still remains technically bearish on the daily timeframe
-The EURJPY remains heavily bearish on the daily time frame; below 130 we may see 129.
-Gold experienced a technical bounce back but still remains bearish
Despite Thanksgiving last week, the markets exhibited a high level of volatility especially on Friday as participants observed the Shanghai Composite Index tank over 5%. Gold also sank to fresh 5 year lows following the growing expectations of a US interest rate rise. This week is set to be quite volatile as most will be awaiting the European Central Bank (ECB) decision on Thursday and US Non-Farm Payroll on Friday for November.
-The EURUSD still remains technically bearish on the daily timeframe
-The EURJPY remains heavily bearish on the daily time frame; below 130 we may see 129.
-Gold experienced a technical bounce back but still remains bearish
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