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!
GBP/CHF reversed from powerful resistance level 1.3300
2019-11-11 • Updated
- GBP/CHF reversed from powerful resistance level 1.3300
- Next sell target - 1.3300
GBP/CHF today reversed sharply from the powerful resistance level 1.3300 (which stopped the previous intermediate impulse wave (1) at the end of October, as can be seen below). The resistance zone near the resistance level 1.3300 was strengthened by the upper daily Bollinger Band. GBP/CHF is expected to fall to the next sell target at the next round support level 1.3000 (which reversed previous waves A, (2) and 2).
Besides US Retail Sales data, Australian Unemployment Rate and New Zealand GDP this week will bring us Quadruple Witching – one of the four most important days of a year for futures and options!
What happened? It looks like the decline in EUR/CHF to 1…
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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Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.