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/JPY reversed from support zone
2019-11-11 • Updated
- EUR/JPY reversed from support zone
- Next buy target 132.00
EUR/JPY recently reversed up from the support zone lying between the key support level 129.30 (which has been reversing the price from the start of March) and the lower daily Bollinger Band. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. EUR/JPY is expected to rise further toward the next buy target at the next resistance level 132.00 (previous support from April).
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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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