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: "Double Bottom" pattern
2019-11-11 • Updated
There's a "V-Bottom" pattern, so the pair is likely going to reach the closest resistance area at 1.3856 - 1.3915. If a pullback from these levels happens afterwards, we could have a decline in the direction of the next support at 1.3741 - 1.3711.
Bears faced with support at 1.3692, so there's a "Double Bottom" pattern. In this case, the price is likely going to achieve the nearest resistance at 1.3856 - 1.3875. Meanwhile, this area could be a departure point for a decline towards another support at 1.3741 - 1.3692.
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.
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.
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%.