Following the FED’s and BOJ’s impact on market, we are expecting BOE’s announcement about its monetary policy program later today. It is widely expected that they will keep the interest rate unchanged at 0.25% maintaining a neutral position. We are not anticipating any surprise, but a “waiting mode” within a mixture of high inflation and fragile economy, although the positive employment report released yesterday. In addition, the “menu” includes US news, but we do not expect any important reaction on the market.
Source: ZuluTrade’s Calendar
Let’s review few potential trading setups / patterns that may be interesting for your trading activities during the day.
The pair is forming a rising channel. It's currently on make or break phase.
The is forming a rising channel and its very close on major supports.
The pair is consolidating for many days. The breakout may be explosive. We have defined the levels.
The pair is forming a triangle and we have noted 2 major areas.
The pair is losing the latest gains and approaching a major support area.