In today’s market review for Monday, May 25th, we kick off a brand new trading week on a high note! Our previous trading ideas for Gold and EUR/USD have played out perfectly, and now the markets are setting up for some massive stop hunts.
We look at the economic calendar, which starts quiet today but ramps up towards a bizarre Thursday where US GDP and Jobless Claims drop at the exact same second. Technically, the main theme across the board is exhausted sellers. We analyze the "spinning top" candlestick patterns on the weekly charts for both Gold (XAU/USD) and EUR/USD. The bears are losing momentum, and a massive pool of stop-losses has built up above last week's highs. We are expecting a local bullish squeeze to take these sellers out with a bang before any global downtrends can resume!
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