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/CAD reversed from support zone
2019-11-11 • Updated
- EUR/CAD reversed from support zone
- Next buy target - 1.5700
EUR/CAD continues to rise after the earlier upward reversal from the key support level 1.5370 (upper boundary of the former resistance zone which has been reversing the price from November). The upward reversal from the support level started the active minor impulse wave (iii) – which belongs to the sharp impulse wave 3 from January. EUR/CAD is expected to rise toward the next buy target at the next resistance level 1.5700 (target price for the completion of the active impulse 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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