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-Top" under Moving Averages
2019-11-11 • Updated
There's a new local low, but the price is consolidating between the Moving Averages. The main intraday target is the nearest support at 1.1792 - 1.1756. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement towards the closest resistance at 1.1879 - 1.1909.
We've got a "V-Top", which has been formed under the Moving Averages. In this case, the market is likely going to decline towards the next support at 1.1792 during the day. Meanwhile, if we see a pullback from this level, bulls will probably try to test the nearest resistance at 1.1836 - 1.1859.
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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%.