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: 'Rising Wedge' pattern
2019-11-11 • Updated
The pair is consolidating between the levels 1.2882 - 1.2784. It's likely that there's a 'Rising Wedge' pattern, so the price is going to reach the previously tested support at 1.2753 - 1.2728. If a pullback from this area happens next, bulls will probably try to achieve another resistance at 1.2826 - 1.2852.
There's a 'Rising Wedge', which has been formed under the Moving Averages. The market is likely going to test the closest resistance at 1.2852. The following pullback from this level could lead to a decline towards 1.2753 - 1.2728.
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%.