We have outlooked several promising Forex pairs and the result can surprise you!
EUR/AUD remained in an uptrend
Information is not investment advice
EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows. This means that the uptrend is still in place and the pair has a decent chance to go for higher levels, at least May highs in the 1.6250 area. Still, to be safe we would consider entering bullish positions if the pair rises above 1.6150 (50-day MA). The outlook will remain positive until EUR/AUD trades above 0.6035 (weekly pivot).
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.