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: price consolidating above the 55 MA
2019-11-11 • Updated
The pair is consolidating above the 55 Moving Average line. Also, there's a 'V-Bottom' pattern, which has been confirmed. So, we should keep an eye on the next resistance at 1.3089 - 1.3103 as an intraday target. A pullback from this area could lead to a downward correction.
The last 'V-Top' pattern led to the current consolidation. It's likely that the price is going to test the nearest support at 1.2953 - 1.2930. The following pullback from this target could be a starting point for another bullish rally in the direction of the closest resistance at 1.3073 - 1.3089.
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%.