Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
AUD/CAD reversed from key support level 0.9420.
2019-11-11 • Updated
- AUD/CAD reversed from key support level 0.9420.
- Next buy target - 0.9650
AUD/CAD continues to advance – following the earlier sharp upward reversal from the key support level 0.9420. The support area near the support level 0.9420 was strengthened by the lower weekly Bollinger Band. The upward reversal from this support level created the strong weekly Japanese candlesticks reversal pattern Hammer. AUD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9650 (former support from July).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.