We have outlooked several promising Forex pairs and the result can surprise you!
EUR/CHF may form a triple top
Information is not investment advice
For 3 weeks in a row, EUR/CHF tried to close above the resistance line connecting October and February highs and failed. If we study the price action at the daily chart, we’ll see a pattern that resembles a “triple top”. To sell the euro it’s necessary to have the confirmation in the form of the pair going below the 200-day MA at 1.1340. The next levels to watch on the downside will then be 1.1320 (50% Fibo retracement of the March-April advance) and 1.1280 (61.2% retracement). The pair needs to return above 1.14 for bulls to regain strength.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.