20.01 - the week ahead is not going to be easy
- by Anna K.
This week is going to be very turbulent and very difficult. This week a lot of major Central Banks are going to announce the future for the monetary policies. So far we have to watch out for changes in USD/JPY, EUR/USD and USD/CAD. It is natural that we would want to follow these performances a little bit earlier, so that to understand the tendencies that traders are setting already.
BOJ is going to be the first, so here is USD/JPY.
Traders are already preparing for the reports. The chart is growing higher and higher which means that JPY is only getting weaker.
CAD, on the contrary is getting a little bit stronger when compared to its greenback counterpart.
EUR is going to be the hardest one to analyze as the report for it is far away, but we are going to have to deal with it two days in a row – after monetary policy report we will see German economic data reports, which always carries losses for EUR/USD couple.
Surely this week we cannot trade without some good trading signals.