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: 'V-Top' pattern led to decline
2019-11-11 • Updated
There's a 'V-Top', so the market is declining. It's likely that the pair is going to test the nearest support at 1.3143 - 1.3101 in the coming hours. A pullback from these levels could be a starting point for a bullish price movement towards the next resistance at 1.3203 - 1.3253.
The last 'Triple Top' pattern has been confirmed, so the price is testing the Moving Averages. At the same time, the pair is likely going to reach the closest support at 1.3126 - 1.3101 soon. If a pullback from this ara forms next, bulls will probably try to test another resistance at 1.3177 - 1.3213.
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%.