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: price reached the lower 'Window'
2019-11-11 • Updated
The price has reached the lower 'Window', but there's no any reversal pattern so far. It seems like we're going to have a 'Hammer' pattern shortly. If so, there'll be time for an upward correction towards the nearest resistance by the 'Three Methods' pattern (1.1367). The subsequent pullback from this level could lead to a decline.
It's likely that we're going to have a bullish 'Engulfing' pattern soon because there's a pullback from the lower 'Window'. In this case, we should watch the closest resistance at 1.1367 as a possible departure point for another decline towards the next support at 1.1298.
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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%.