High volatility on Friday and abrupt movement on goods market could bring many ills to a beginning trader. Besides the petroleum which is called “black gold”, real gold fell as well and fell deep.
Gold fell almost down to the lower border of the channel. On Monday the question about whether the quotations break down the channel or not will become urgent. The pace of developments will depend on it.
The quotations of USDJPY pair could not overcome the psychologically important and strong level of resistance of 100. The quotations on Friday rebounded from resistance level. It is unlikely that it becomes possible to quickly overcome the resistance level of 100 if the growth continues. The pair needs some rest.
EURUSD could not overcome the resistance of 1.3140, but the pair did not backlash deep down. The breakdown of this level will allow entering into long positions on pair, otherwise the consolidation and correction on pair is possible.
Pound sterling on Friday gave in slightly compared to American currency, but the GBPUSD pair graph looks growing, that is why on Monday on the active market it will be possible to make purchases provided the positive growth of pair quotations.
We wish you a good and profitable week!