
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
The price is consolidating along the 55 Moving Average. It's likely that the pair is going to test support at 1.2945 - 1.2913 in the short term. However, if we see a pullback from these levels, bulls will probably try to reach resistance at 1.2995 - 1.3023.
There's a consolidation, which is taking place under resistance at 1.2988. The 34 Moving Average is acting as support. In this case, the market is likely going to decline towards the 89 Moving Average. If a pullback from this line happens, we should keep an eye on the next resistance at 1.2988 - 1.3023 as an intraday target.
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/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.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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