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: wave [i] going to be continued
2019-11-11 • Updated
There's another pullback from 3/8 MM Level, so wave [i] is likely going to be continued. Previously, an impulse in wave C of (E) has been formed. So, we should keep an eye on 0/8 MM Level (1.1230) as the next intraday bearish target.
As we can see on the one-hour chart, there's a possible flat pattern in wave (ii). Also, we've got a downward impulse in wave i. If a pullback from 6/8 MM Level happens in the coming hours, bears are likely going to deliver wave iii of (iii). The main target is 1/8 MM Level (1.1261).
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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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