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!
NZD/JPY falling inside minor impulse wave C
2019-11-11 • Updated
- NZD/JPY falling inside minor impulse wave C
- Next sell target - 76.20
NZD/JPY continues to fall inside the minor impulse wave C, which started earlier from the resistance zone lying between the resistance level 78.50, upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward impulse wave A from the end of January. NZD/JPY is likely to fall toward the next sell target at the next support level 76.20 (which stopped the previous waves (1) and A).
What happened? Japanese shares fell on Monday…
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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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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.