
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!
2019-11-11 • Updated
Bulls faced with resistance at 1.3290, but the market is likely going to continue moving up, so we should keep an eye on the next resistance at 1.3290 - 1.3342 as an intraday target. If we have a pullback from this area, there'll be an opportunity to have a decline towards the nearest support at 1.3221 - 1.3182.
We've got a "Thorn" pattern, so the price is consolidating. Therefore, the market is likely going to reach the nearest support at 1.3256 - 1.3221 during the day. At the same time, if we have a pullback from these levels, bulls will probably try to test the next resistance at 1.3290 - 1.3343.
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 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.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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