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/USD: leading diagonal in wave (i)
2022-12-16 • Updated
The price faced with support on 0/8 MM Level, so wave 4 may have been ended as a zigzag pattern. In this case, we're likely going to have an upward impulse in wave [i], so we should keep an eye on 3/8 MM Level as the nearest bullish target.
There's a leading diagonal in wave (i), but wave (ii) hasn't been finished yet. So, the pair is likely going to test 0/8 MM Level, which could be a departure point for wave (iii) of [i].
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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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