
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!
2019-11-11 • Updated
USD/JPY has been following a bullish bias and an impulsive structure is being developed since June 14th. That’s why we would like to follow a corrective move towards the 61.8% Fibonacci retracement level in a first degree at 109.80, where we would like to see a rebound. A demand zone can be shown around that area and the pair could bring some good opportunities to go long. In the alternative scenario, a breakout below 109.36 can put in danger that preferred outlook and the pair might plummet towards 108.00.
RSI indicator is still flat but once it turns positive, our bullish outlook could strengthen, with a strong resistance placed around 111.41 yet to be broken.
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!
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.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
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.
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