Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
EUR/JPY rising inside minor impulse wave 3
2019-11-11 • Updated
- EUR/JPY rising inside minor impulse wave 3
- Next buy target - 79.00
EUR/JPY continues to rise inside the sharp minor impulse wave 3 – which previous broke through the resistance level 126.80 (previous buy target). The breakout of this price level was followed by the breakout of the 3 consecutive Fibonacci retracement levels of the previous sharp ABC correction 2 from July (38.2%, 50% and 61.8%). EUR/JPY is expected to rise further toward the next buy target at the next resistance level 130.00.
The pair is testing the key pivot level at 74.40
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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