Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...
EUR/JPY: buyers have a good chance
2019-11-11 • Updated
Recommendation:
BUY 130.8
SL 130.25
TP1 131.8 TP2 132.8 TP3 133.8
On the daily chart, EUR/JPY is forming a “Dragon”. A break of resistance levels at 130.5 and 131.2 (Fibonacci levels of 78.6% and 88.6% of the wave AD of the “Bat” pattern) and renewal of the “Dragon’s” head will allow bulls to continue the way up.
On H1, a “Shark” is transforming into 5-0. After a pullback from support at 38.2% of the wave CD, bulls seized the initiative. The necessary condition for the continuation of the rally will be the increase above resistance at 130.8.
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