Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
EUR/AUD broke major resistance level 1.5750
2019-11-11 • Updated
- EUR/AUD broke major resistance level 1.5750
- Next buy target - 1.6000
EUR/AUD recently broke above the major resistance level 1.5750 (which has been steadily reversing the price from last November, as can be seen from the daily EUR/AUD chart below). The breakout of the resistance level 1.5750 accelerated the active impulse wave 3, which belongs to the intermediate impulse wave (C) from last July. EUR/AUD is expected to rise toward the next buy target at next resistance level 1.6000 (target price for the completion of wave 3).
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Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
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