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: bears going to test closest support
2019-11-11 • Updated
There's a "Double Bottom", so the price reached the nearest resistance at 1.1801. In this case, bears are likely going to test the closest support at 1.1727 - 1.1712 in the short term. If we have a pullback from this area, bulls will probably try to achieve the next resistance at 1.1801 - 1.1846.
Bulls found resistance at 1.1784, so the price is consolidating. Therefore, the market is likely going to reach the 34 Moving Average soon. If a pullback from this line happens little later on, there'll be an opportunity to have an upward price movement towards another resistance at 1.1801 - 1.1823.
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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%.