We have outlooked several promising Forex pairs and the result can surprise you!
CHF/JPY failed to recover
Information is not investment advice
CHF/JPY has recently broken below the support line from May lows. On Tuesday, the pair tried to revisit higher levels but ultimately closed near the day’s low forming a candlestick with a long upper wick on D1. This means that sellers seized control and may pull the price lower. On H1, there’s a “Head and Shoulders” pattern with a neckline at 108.60. Although the pattern wasn’t formed after a long uptrend that makes it weaker, a decline below 108.60 will still open the way down to the 108.00 area (August lows).
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.