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: "Double Top" pattern
2019-11-11 • Updated
The price is consolidating between resistance at 1.1267 and support at 1.1171. Also, we've got a "Double Top" pattern, so the market is likely going to decline towards the nearest support at 1.1103 - 1.1075. If we see a pullback from this area, there'll be an opportunity to have another bullish price movement in the direction of the last high.
There's a consolidation, which is taking place along the Moving Averages. The 89 Moving Average has acted as support, so bulls are likely going to get resistance on the 34 Moving Average in the coming hours. However, if a pullback from this line happens, bears will have a chance to reach the closest support at 1.1139 - 1.1103.
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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%.