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 reversed from support area
2019-11-11 • Updated
- NZD/JPY reversed from support area
- Next buy target - 77.20
NZD/JPY recently reversed up from the support zone lying between the strong support level 76.00 (which has been repeatedly reversing the price from the middle of November) and the lower daily Bollinger Band. The upward reversal from the support area stopped the previous minor impulse wave A. Given the oversold reading on the daily Stochastic indicator - NZD/JPY is expected to rise toward the next buy target at next resistance level 77.20.
What happened? Japanese shares fell on Monday…
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
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.