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: "V-Bottom" pattern
2019-11-11 • Updated
Bears faced with support at 1.1772, so there's a "V-Bottom", which pushed the price to the Moving Averages. The main intraday target is the next resistance at 1.1814 - 1.1859. If a pullback from these levels happens, we could have a decline towards the nearest support at 1.1728 - 1.1712.
The 34 & 55 Moving Averages have been broken, so the pair is likely going to reach the closest resistance at 1.1814 - 1.1847. Meanwhile, if we have a pullback from this area, there'll be an opportunity to see another decline in the direction of the next support at 1.1756 - 1.1728.
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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%.