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/USD: bearish "High Wave" and "Engulfing"
2019-11-11 • Updated
The price tested the nearest resistance once again, so we've got a bearish "Tweezers" on this level. Considering a confirmation of this pattern, bears are likely going to test the 89 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another upward price movement.
There're bearish patterns, such a "High Wave" and an "Engulfing", which both have been confirmed. Therefore, the market is likely going to test the nearest support level, but bulls will probably try to achieve the Moving Averages afterwards.
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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%.