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!
NZD/USD rising inside intermediate impulse wave (3)
2019-11-11 • Updated
- NZD/USD rising inside intermediate impulse wave (3)
- Next buy targets - 0.7310 and 0.7370
NZD/USD has been rising in the last few trading sessions inside the intermediate impulse wave (3) – which started earlier from the support area lying between the pivotal support level 80.50 and the 50% Fibonacci correction of the previous sharp upward impulse from the start of June. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. NZD/USD is expected to rise to the next buy targets at the resistance levels 0.7310 (top of impulse wave (1)) and 0.7370 (major resistance level from February).
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%.