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 rising inside impulse waves (iii) and 3
2019-11-11 • Updated
- EUR/JPY rising inside impulse waves (iii) and 3
- Next buy target - 132.00
EUR/JPY continues to rise inside the minor impulse wave (iii), which belongs to wave 3 from the middle of June, The price earlier broke through the resistance zone lying between the resistance level 128.00 and the upper resistance trendline of the wide weekly up channel inside which the price has been moving from the middle of 2016. The breakout of this resistance zone intensified the bullish pressure on this currency pair. EUR/JPY is expected to rise to the next buy target at the next resistance level 132.00.
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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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Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.