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!
GBP/CHF broke support level 1.2640
2019-11-11 • Updated
- GBP/CHF broke support level 1.2640
- Next sell target - 1.2500
GBP/CHF continues to fall after the earlier breakout of the support level 1.2640 (previous powerful resistance level from January and February). The breakout of the support level 1.2640 was preceded by the breakout of the support trendline of the daily up channel from March – which accelerated the active minor ABC correction (ii) from the powerful resistance level 1.3050.
GBP/CHF is expected to fall to the next sell target at the support level 1.2500 (target price for the completion of the active wave (ii)).
Besides US Retail Sales data, Australian Unemployment Rate and New Zealand GDP this week will bring us Quadruple Witching – one of the four most important days of a year for futures and options!
What happened? It looks like the decline in EUR/CHF to 1…
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%.