Trade ideas for March 28 - April 1
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: confirmed 'Double Top'
2019-11-11 • Updated
There's a 'Double Top', which has been confirmed. So, the market is likely going to test the next support at 1.2811 - 1.2773 within the next few hours. If a pullback from this area happens next, there'll be a moment to have an upward price movement towards 1.2911 - 1.2957.
The 34 Moving Average has acted as support, so the price is consolidating. It's likely that the pair is going to test the nearest important support at 1.2811 - 1.2791. This area could be a starting point for a bullish price movement in the direction of 1.2911 - 1.2935.
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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.
Gold: a risk of selling
As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916.
Latest news
Gold’s Next Move Could Be Huge!
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.
What to Trade in June
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!
Will GBP Recover Now?
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%.
