On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
Bears and bulls will fight for AUD/USD
2019-11-11 • Updated
TP1 0.7315 TP2 0.7415 TP3 0.748
On the daily chart, bulls tried to play back the fact that AUD/USD reached 200% target of AB=CD. Their attempt to develop a correction after a pullback form the convergence area led to failure at the resistance of 0.7215. Bears seized the initiative. To continue the decline, the need to pull the Aussie below supports at 0.7105 and 0.6975.
On H1, only another test of resistance at 0.7215 will allow bull to return the initiative and resume the rally towards the target of “Wolfe waves” pattern.
Gold prices have stabilized at around $2,020 ahead of Tuesday's trading session, following last Friday's dip. Recent fluctuations in risk sentiment have been the driving force behind the pricing of the precious metal. How does this look on the charts? Let’s find out.
The influence of the dollar as the world reserve currency is gradually falling. Is it possible that the euro will replace it? We are not so sure about that.
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%.