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 major support level 0.9580
2019-11-11 • Updated
- AUD/CAD reversed from major support level 0.9580
- Next buy target 0.9700
AUD/CAD recently reversed up from the powerful, long-term support level 0.9580 (which also stopped the sharp downtrend at the start of December, as can be seen below). The support area near the support level 0.9580 was strengthened by the lower daily Bollinger Band. With the oversold daily Stochastic, AUD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9700 (top of wave (iv)).
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%.