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 reversed from resistance zone
2019-11-11 • Updated
- EUR/NZD reversed from resistance zone
- Next sell target - 1.6750
EUR/NZD recently reversed down from the resistance zone lying between the key resistance level 1.710 (which has been steadily reversing the price from the middle of December, as can be seen from the daily EUR/NZD chart below) and the upper daily Bollinger Band. The downward reversal from this resistance zone started the active minor correction 2. EUR/NZD is likely to fall toward the next sell target at the next support level 1.6750 (low of the wave (2)).
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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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