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!
EUR/GBP: 'V-Bottom' pushed the market higher
2019-11-11 • Updated
There's a 'V-Bottom', which pushed the market higher. Also, it seems like there's a developing 'Flag' pattern. If so, the market is likely going to test the next support at 0.8529 - 0.8483. If any bullish pattern forms little later on, there'll be an opportunity to have an upward correction towards the Moving Averages.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.