Weekly Technical Forecast: S&P 500 and Oil Show Contrast Between Past Quarter and Next Week
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US crude oil prices closed out this past week with a sense of progress that varies according to what time frame you evaluate. While the quarter (Q1) was extraordinary, the carry over into next week alone looks more tepid.
Sterling is set to close just above upslope support as a breakdown in Brexit negotiations weigh on price. These are the levels that matter on the GBP/USD weekly chart.
The recent batch of poor US data prints have been brushed aside by a resurgent US dollar in the past few days, but the recent push higher looks like it is running out of steam.
Gold prices concluded another month lower as a bearish reversal pattern formed, hinting of a top in the long-run. For now, the precious metal faces critical support that may hold.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.