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𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 - 𝗪𝗲𝗲𝗸𝗹𝘆 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄: What are the latest updates on major Forex currencies, commodities & cryptocurrencies? Check our weekly outlook by our Financial Analyst, Myrsini Giannouli.

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𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀- 𝐌𝐚𝐲 𝟐𝟓𝐭𝐡: The sterling climbed last week taking advantage of the weakening dollar, with the GBP/USD rate closing near the 1.25 level on Friday. On Monday, the sterling continued to rise but plummeted on Tuesday, on weak UK economic data, even as the dollar continued to fall.

𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀- 𝐌𝐚𝐲 𝟐𝟒𝐭𝐡: Gold price continued to climb on Monday, reaching $1,865 per ounce, as the dollar weakened. If the price of gold decreases, support may be found at $1,782 per ounce, while resistance may be found at around 1,920 per ounce and higher up at $2,000 per ounce.

𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀- 𝐌𝐚𝐲 𝟏𝟗𝐭𝐡: On Wednesday, Bitcoin and Ethereum fell below their key support levels of $30,000 and $2,000 respectively, amid a stock market sell-off. On Tuesday, there were glimpses of returning market risk appetite, supporting cryptocurrencies. Stock markets rebounded, led by tech stocks. Stock markets resumed their descent on Wednesday though, dragging cryptocurrencies down.

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𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀- 𝐌𝐚𝐲 𝟏𝟖𝐭𝐡: Oil prices exhibited high volatility last week, dropping sharply at the beginning of the week, but rallying towards the end of the week. On Monday, WTI climbed above $113 per barrel, on expectations of increased demand in China. On Tuesday, the WTI price dropped almost to the $113 per barrel level.

𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀- 𝐌𝐚𝐲 𝟏𝟕𝐭𝐡: The price of gold has been driven by conflicting market forces and balances between increased risk-aversion and rising yields. Gold prices reached a 13-week low of $1,799 per ounce last week, pushed down by the strong dollar and US yields. On Monday however, gold prices recovered, reaching $1,823 per ounce, as the dollar weakened.

𝗧𝗼𝗽𝗙𝗫 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀- 𝐌𝐚𝐲 𝟏𝟑𝐭𝐡: A strong risk-off sentiment has prevailed since last week, driving investors to safer assets and dampening the appeal of cryptocurrencies. A massive sell-off of tech stocks was triggered this week, sending cryptocurrencies into free fall. Global stock markets have been falling this week, led by tech stocks.

Don't just look at the tip of the iceberg. Effective trading takes hard work, commitment & persistence. Are you prepared for all the rocky moments? The path may become bumpy; instead of focusing on the obstacles, use them to your advantage.