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!
USD/CAD broke support level 1.2420
2019-11-11 • Updated
- USD/CAD broke support level 1.2420
- Next sell target - 1.2100
USD/CAD continues to fall after the earlier breakout of the support level 1.2420 (which stopped the pervious minor correction 4 in October as can be seen from the daily USD/CAD chart below). The breakout of the support level 1.2420 follows the earlier breakout of the 50% Fibonacci correction level of the pervious long-term ABC correction from September. USD/CAD is expected to fall to the next sell target at the next support level 1.2100 (monthly low from September.).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
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.
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%.