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: the pound slides
2019-11-11 • Updated
Recommendation: SELL 1.2785 SL 1.284 TP1 1.2685 TP2 1.264 TP3 1.257
On the daily chart of GBP/USD the price broke through the lower limit of the downward channel. It shows the sellers are confident that price would go down. Downward movement will activate the “Shark” pattern with the target at 113%. The update of August minimum will increase the risks of moving towards 61.8% and 78.6% from the long-term ascending wave.
On H1 chart of GBP/USD if buyers cannot manage to hold the price near a target at 88.6% of the “Bat” pattern, the trend will turn bearish. If sellers break the support at 1.2785, the price will fall.
Gold Daily Chart Throughout last week’s trading, gold traded within a tight range, but it also managed to hold well above its 1775 support area until the end of the week, while the technical indicators has improved over the past few days, including…
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For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.