The global markets were quite unmoved in Wednesdays trading session despite the dovish FOMC meeting minutes which diminished any expectations of US rates being increased in March. WTI Oil prices broke past $30 as expectations grew of Iran accepting the terms of a production freeze. In the midst of this Gold prices found some support at $1190 and may be geared to trade higher.
– The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.1300.
– The GBPUSD is bearish and a breakdown below 1.4400 may encourage another selloff towards 1.4200.
– GBPAUD is bearish and a breakdown below 2.000 should invite a further decline towards 1.900
The global markets were quite unmoved in Wednesdays trading session despite the dovish FOMC meeting minutes which diminished any expectations of US rates being increased in March. WTI Oil prices broke past $30 as expectations grew of Iran accepting the terms of a production freeze. In the midst of this Gold prices found some support at $1190 and may be geared to trade higher.
– The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.1300.
– The GBPUSD is bearish and a breakdown below 1.4400 may encourage another selloff towards 1.4200.
– GBPAUD is bearish and a breakdown below 2.000 should invite a further decline towards 1.900
– Gold has found some support above $1190.
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