The financial markets were shrouded with unease during trading on Wednesday following Janet Yellen’s cautionary stance towards future rate rises amid the global turmoil. Global stocks were left depressed as risk aversion encouraged investors to flee from riskier assets while safe haven such as Gold received a welcome boost. WTI Oil is heavily bearish and the underlying concern over the excessive oversupply may keep prices depressed.
– The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.1500.
– The GBPUSD is bearish and a breakdown below 1.4400 may encourage another selloff towards 1.4200.
– Gold is heavily bullish and a breakout above $1200 may invite an incline towards $1230
– WTI is heavily bearish and prices are trading towards $25
The financial markets were shrouded with unease during trading on Wednesday following Janet Yellen’s cautionary stance towards future rate rises amid the global turmoil. Global stocks were left depressed as risk aversion encouraged investors to flee from riskier assets while safe haven such as Gold received a welcome boost. WTI Oil is heavily bearish and the underlying concern over the excessive oversupply may keep prices depressed.
– The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.1500.
– The GBPUSD is bearish and a breakdown below 1.4400 may encourage another selloff towards 1.4200.
– Gold is heavily bullish and a breakout above $1200 may invite an incline towards $1230
– WTI is heavily bearish and prices are trading towards $25
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