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/USD reversed from support zone
2021-11-11 • Updated
- AUD/USD reversed from support zone
- Next buy target - 0.7670
AUD/USD continues to rise after the earlier sharp upward reversal from the support zone lying between the strong support level 0.7500 (which reversed the earlier minor ABC correction (iv) in March, as can be seen from the daily AUD/USD chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the c-wave of the earlier ABC correction 2 from March.
AUD/USD is expected to rise further to the next buy target at the resistance level 0.7670 (top of the previous (b)-wave from March).
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.
As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916.
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%.