Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
EUR/NZD rising inside minor impulse wave (iii)
- EUR/NZD rising inside minor impulse wave (iii)
- Next buy target - 1.7480
EUR/NZD continues to rise inside the minor impulse wave (iii), which started recently from the support zone lying between the pivotal support level 1.7200 (former resistance from July), 50-day moving average and 61.8% Fibonacci correction of the previous sharp upward impulse from July. EUR/NZD is expected to rise further toward the next buy target at the next resistance level 1.7480 (top of the previous impulse wave (i)).
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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