FXTM Forex Market Update | 09/02/2016
Last weeks mixed US employment report caused confusion across the financial markets as sentiment towards the US economy with split in various directions. This uncertainty punished the global stock markets with most major markets sinking into the red as risk aversion encouraged investors to flock to safe havens. WTI Oil still remains depressed despite the ongoing talks of emergency OPEC meetings, while Gold has become a star performer with prices hitting levels not seen since June. - The EURUSD has turned bullish on the daily timeframe and Dollar weakness may provide an opportunity for prices to trade towards 1.1250. - The GBPUSD is bearish and a breakdown below 1.4400 may encourage another selloff towards 1.4200. - Gold is heavily bullish and a breakout above $1120 may invite an incline towards $1150
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