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: local bullish 'Thorn' pattern
2019-11-11 • Updated
There's a local bullish 'Thorn' pattern, so the price is consolidating. The main intraday target is the next resistance at 1.1750 - 1.1757. A pullback from this area could be a departure point for a decline towards the closest support at 1.1673 - 1.1649.
The last 'Double Top' has been confirmed, so the market is likely going to achieve the nearest support at 1.1679 - 1.1661. If a pullback from this area happens next, bulls will probably try to test another resistance at 1.1744 - 1.1750.
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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%.