Oil chart points to pessimism, EUR/JPY at make or break level - Oanda

Nov 30, 2016, 06:13 PM

OPEC decision is due in just a few hours. Investors/Traders are grappling with the questions like - Will OPEC cut the output? What if the deal does not come through? How would oil prices and the major markets react in bullish/bearish OPEC scenario?

Craig Erlam, Senior Market Analyst at Oanda, joined Tip TV’s Zak Mir and Presenter Jenny Hammond to answer your queries regarding the OPEC event.

Erlam says oil charts point to pessimism ahead of the OPEC decision. He also takes note of the EUR/JPY cross hovering at a critical make or break level of 120.00.

Watch the full video to know-

What if the EUR/JPY cross fails to take out critical hurdle at 120.00?

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