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/NZD broke resistance level 1.7110
2019-11-11 • Updated
- EUR/NZD broke resistance level 1.7110
- Next buy target - 1.7400
EUR/NZD recently broke the powerful resistance level 1.7110 (which has been steadily reversing this currency pair from the start of February, as can be seen below). The breakout of the resistance level 1.7110 should accelerate the active intermediate impulse wave (3) from the middle of April (which started form the 200-day moving average). EUR/NZD is expected rise toward the next buy target at next resistance level 1.7400.
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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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