It’s simply the question of time before gold price gets to the higher levels…
EUR/NZD has a lot of potential
Information is not investment advice
Last week EUR/NZD made a triumphant comeback to the upside. The pair rose above the 50- and 100-week MAs in the 1.7000/7025 area. It retraced 50% Fibonacci of the October-December decline (1.7160). This level is currently providing resistance: to resume growth, the euro has to overcome this obstacle. Of that happens, the next target will be at 1.7280 (61.8% Fibo). On the downside, support lies at 1.7095 (200-day MA). The decline below this line will open the way for a correction to 1.7025 (38.2% Fibo).
USD/CAD is consolidating after breaking above the bearish “wedge”. The pair has bullish dynamics since the start of June.
XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down.
The pair has broken down two strong supports. What’s next?
Investors want to trade riskier, and dire economic and virus background doesn't stop that. The USD will testify.
Risk-on pushed stocks and riskier currencies upward.