Maybe this week's calendar was not packed, but the week was good in terms of trading and volatility. We had a huge drop on oil, a strong upswing and then a correction on the EUR and a surge in GBP. Hopefully this will continue next week.
Gold had a steady but technical week. There were no crazy swings but a very easy technical trade. After making new highs we had a flat correction flag, which ended on strong support created by the broken trendline. Outlook is bullish.
Cable is having a similar situation, but here the upswing was stronger and the correction is even weaker, which shows the dominance of the buyers. As long as we keep the pressure high and stay above the upper line of the triangle, the sentiment is positive.
EUR/JPY after a strong first half of the week is heading lower. We bounced off the strong long-term resistance (lower line of the flag), which makes the sentiment strongly bearish.