Global stock markets continue to remain under pressure as the aggressive depreciation in oil prices and ongoing concerns around global growth weigh heavily on investor sentiment. Most equities are depressed and with China annual GDP printing at 6.9% the lowest in a quarter of a century, confidence in the global economy has taken a hit. WTI ventured to fresh 12 year lows following Iran’s sanction lift which may pave the way to more oil exports.
-The EURGBP is heavily bullish on the weekly timeframe and the breakout above 0.7500 should encourage a further rise towards 0.7800.
-The EURJPY is technical bearish on the daily timeframe and a breakdown below 127.50 should open a path towards 126.00
Global stock markets continue to remain under pressure as the aggressive depreciation in oil prices and ongoing concerns around global growth weigh heavily on investor sentiment. Most equities are depressed and with China annual GDP printing at 6.9% the lowest in a quarter of a century, confidence in the global economy has taken a hit. WTI ventured to fresh 12 year lows following Iran’s sanction lift which may pave the way to more oil exports.
-The EURGBP is heavily bullish on the weekly timeframe and the breakout above 0.7500 should encourage a further rise towards 0.7800.
-The EURJPY is technical bearish on the daily timeframe and a breakdown below 127.50 should open a path towards 126.00
-Gold trades below the 1110 resistance.
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