Trade ideas for March 28 - April 1
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!
GOLD: market to achieve 89 Moving Average
2019-11-11 • Updated
There's a 'Triple Top' pattern, which led to the current consolidation. Also, we've got a bearish 'Thorn', which has been confirmed. Thus, the market is likely going to achieve the 89 Moving Average in the short term. If a pullback from this line happens little later on, bulls will probably try to reach the previously tested resistance at 1328.85 - 1331.82.
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Latest news
European Currencies Ahead of the Banks' Statements
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.
Will the FOMC Surprise the Markets?
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?
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
