
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!
2019-11-11 • Updated
GBP/CAD recently broke through the resistance zone lying between the round resistance level 1.8000 (which reversed the price with the daily Evening Star at the start of March, as can be seen from the daily GBP/CAD chart below). The breakout of this resistance zone accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from January. GBP/CAD is expected to rise toward the next buy target at next resistance level 1.8400 (forecast price for the completion of wave (3)).
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!
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
The stock market has reversed, and now it’s going lower and lower…
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