As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
XAU/USD: bears are firm
2019-11-11 • Updated
SELL $1271 SL $1286 TP1 $1237 TP2 $1212
On the daily chart, bulls are clinging to an important level of $1281 an ounce. Their failure will return the initiative to bears and increase the risks of decline to 78.6% and 200% targets of “Gartley” and AB=CD patterns.
On H1, XAU/USD keeps forming an inverted 5-0 pattern. Pullbacks to 50%, 38.2% and 23.6% of the wave CD are usually used for buying. A decline below support levels at $1271 and $1267 an ounce may be a signal for forming short positions.
Last week was shocking! The US dollar gained more than 2% against other currencies ahead of the 75-basis points rate hike by the Federal Reserve on Wednesday but dropped after the announcement…
The US Fed is speeding up its monetary tightening, and crypto may experience the most challenging times since the beginning of the market. Commodities are in danger, too. Dive deeper into the most important events of next week!
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
China may respond to US House Speaker Nancy Pelosi's visit to Taiwan with military provocations, including firing missiles near Taiwan or large-scale air or naval activities…
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.