These are the biggest events to watch this week:
The economic agenda will quieten down over the coming week but not entirely as the Bank of England will announce its latest policy decision, while Canada and New Zealand will report employment numbers.
In the US, the ISM Services PMI will be watched very closely, and the Bank of Japan's Summary of Opinions will also likely attract some attention.
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The economic agenda will quieten down over the coming week but not entirely as the Bank of England will announce its latest policy decision, while Canada and New Zealand will report employment numbers.
In the US, the ISM Services PMI will be watched very closely, and the Bank of Japan's Summary of Opinions will also likely attract some attention.
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#XM #XMIndia #EconomicCalendar
What are you most curious about this week in the markets?
Anonymous Poll
100%
1️⃣ US ISM Services PMI
0%
2️⃣ New Zealand Employment Change
0%
3️⃣ Bank of England Monetary Policy Decision
0%
4️⃣ Bank of Japan Summary of Opinions
0%
5️⃣ Canada Employment Change
The precious yellow metal has been moving sideways for several days after reaching unprecedented all-time highs. Its current price action is confined within an ascending symmetrical triangle pattern.
The big question now is — will it break out and continue climbing, or will it head downward toward the demand zone highlighted by the circle on the chart?
The big question now is — will it break out and continue climbing, or will it head downward toward the demand zone highlighted by the circle on the chart?
Chart: BTCXAU, daily chart
BTCXAU failed to break the previous high and plunged below EMA21. The price stays between both EMAs and above 33.50, indicating a potential consolidation.
If BTCXAU surges above EMA21 and 35.00, the price may reach the previous highs before retesting the next resistance at 36.50.
On the contrary, failure to hold above 33.50 and EMA78 may prompt BTCXAU to fall to the subsequent support at 32.00.
BTCXAU failed to break the previous high and plunged below EMA21. The price stays between both EMAs and above 33.50, indicating a potential consolidation.
If BTCXAU surges above EMA21 and 35.00, the price may reach the previous highs before retesting the next resistance at 36.50.
On the contrary, failure to hold above 33.50 and EMA78 may prompt BTCXAU to fall to the subsequent support at 32.00.
Attention GBP traders, UK stock investors, and anyone following the British economy – brace yourselves. This week could be the most decisive for the pound in 2025.
📉 Expected Rate Cut: The Bank of England is widely anticipated to lower the Official Bank Rate from 4.25% to 4.00% – a 0.25% drop – this Thursday at 11:00 a.m. GMT.
💬 The announcement will coincide with a press briefing revealing the latest monetary policy outlook.
⚠️ A rate cut could send the pound sliding against other major currencies, creating both opportunities and risks for traders.
📊 Be ready – market volatility is coming.
Sign Up Now➡️ https://tlt.ink/exness
📉 Expected Rate Cut: The Bank of England is widely anticipated to lower the Official Bank Rate from 4.25% to 4.00% – a 0.25% drop – this Thursday at 11:00 a.m. GMT.
💬 The announcement will coincide with a press briefing revealing the latest monetary policy outlook.
⚠️ A rate cut could send the pound sliding against other major currencies, creating both opportunities and risks for traders.
📊 Be ready – market volatility is coming.
Sign Up Now
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OPEC+ has announced a production boost of 547,000 barrels per day.
And here’s where the law of supply and demand comes into play:
📈 More Production → More Supply → 📉 Lower Prices
This surge in output means more oil flooding the global market, which could put long-term downward pressure on prices.
💡 Traders, keep your eyes on the charts—this could shape the next big move in crude oil.
And here’s where the law of supply and demand comes into play:
📈 More Production → More Supply → 📉 Lower Prices
This surge in output means more oil flooding the global market, which could put long-term downward pressure on prices.
💡 Traders, keep your eyes on the charts—this could shape the next big move in crude oil.
ETHUSD, daily chart
ETHUSD rebounded above EMA21 and the ascending channel's breakout zone. The price remains in an uptrend, with higher swings and a widening gap between the bullish EMAs.
If ETHUSD sustains its bullish momentum, the price could approach the psychological resistance at 4000.
Conversely, a break below the support at 3300 and returning within the channel could prompt a deeper retracement toward the following support at 2850.
ETHUSD rebounded above EMA21 and the ascending channel's breakout zone. The price remains in an uptrend, with higher swings and a widening gap between the bullish EMAs.
If ETHUSD sustains its bullish momentum, the price could approach the psychological resistance at 4000.
Conversely, a break below the support at 3300 and returning within the channel could prompt a deeper retracement toward the following support at 2850.
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📱 From gold to forex and over 1400 instruments, the XM App offers a superior trading environment that puts traders in the best position to profit.
Download XM App now : https://tlt.ink/xmbro
#XM #XMIndia #XMApp #ForexTrading #OnlineTrading #ForexApp