The sharp rise in oil prices offered global stocks a welcome boost with most major stocks bouncing from previous losses. Safe-haven assets such as Gold and the Yen slightly retreated as investors flocked to riskier assets. Volatility may be observed in the currency markets which have powered both the EURUSD and GBPUSD. Concerns remain elevated over Brexit woes and this may leave the Sterling depressed moving forward.
-The GBPUSD is bearish and a breakdown below 1.42 may encourage another selloff towards 1.41.
-The EURJPY is bearish and a sharp decline below 123.00 could open a path towards 120.00
-WTI is bearish and a breakdown below $40 could open a path towards $38
-Gold is bullish on the daily timeframe and may incline towards $1300
The sharp rise in oil prices offered global stocks a welcome boost with most major stocks bouncing from previous losses. Safe-haven assets such as Gold and the Yen slightly retreated as investors flocked to riskier assets. Volatility may be observed in the currency markets which have powered both the EURUSD and GBPUSD. Concerns remain elevated over Brexit woes and this may leave the Sterling depressed moving forward.
-The GBPUSD is bearish and a breakdown below 1.42 may encourage another selloff towards 1.41.
-The EURJPY is bearish and a sharp decline below 123.00 could open a path towards 120.00
-WTI is bearish and a breakdown below $40 could open a path towards $38
-Gold is bullish on the daily timeframe and may incline towards $1300
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