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: 'Thorn' pushed the pair higher
2019-11-11 • Updated
There's a 'Thorn' pattern, which pushed the pair higher, but the 34 Moving Average has acted as resistance, so the price is consolidating. In this case, it's likely that the pair is going to reach the previously tested support at 1.2910 - 1.2854. The subsequent pullback from this area could lead to an upward correction towards the nearest resistance at 1.2946 - 1.2957.
We've got a 'Bearish Trap', so the price moved higher. Meanwhile, we should watch the closest support at 1.2913 - 1.2889 as an intraday target. If a pullback from this area happens next, bulls will probably try to achieve another resistance at 1.2971 - 1.2999.
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%.