Morgan Stanley recently broke through the resistance zone lying between the key resistance level 45.40 (which created two monthly highs in July and September) and the 61.8% Fibonacci correction of the previous multi-month ABC correction from April.
The breakout of this resistance area accelerated the active long-term impulse wave 3 from the start of October.
Morgan Stanley is expected to rise further and retest the next resistance level 47.60 (target price for the completion of the active impulse wave 3).
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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