Global stocks staged an incredible rebound on Monday following the sharp rebound in oil which boosted investor risk sentiment. The growing optimism over OPEC securing a meaningful freeze deal at the formal meeting has renewed investor attraction towards oil. Sterling was also a winner on Monday as talks of the UK leaving the European Union in a transitional fashion eased some hard Brexit concerns. Gold remains flat and may be driven by price action. • The #EURUSD is bearish with sellers attacking 1.0600 • #GBPUSD bears could exploit the sharp bounce to install another round of selling • #USDJPY is bullish and a break above 111.00 could open a path towards 113.00 For more Market Analysis read the latest @ http://fxtm.co/marketupdate-yt
Global stocks staged an incredible rebound on Monday following the sharp rebound in oil which boosted investor risk sentiment. The growing optimism over OPEC securing a meaningful freeze deal at the formal meeting has renewed investor attraction towards oil. Sterling was also a winner on Monday as talks of the UK leaving the European Union in a transitional fashion eased some hard Brexit concerns. Gold remains flat and may be driven by price action.
• The #EURUSD is bearish with sellers attacking 1.0600
• #GBPUSD bears could exploit the sharp bounce to install another round of selling
• #USDJPY is bullish and a break above 111.00 could open a path towards 113.00
For more Market Analysis read the latest @ http://fxtm.co/marketupdate-yt
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