We have outlooked several promising Forex pairs and the result can surprise you!
EUR/NZD: opportunities for sellers
Information is not investment advice
EUR/NZD has been in a downtrend since the end of October. On the W1, the horizontal 50- and 100-week MAs have twice prevented the price from getting above 1.6975. On the D1, the 50- and the 100-day MA are in the negative order. In addition, the pair has breached the 2017-2019 support line at 1.6820. It’s now below the December consolidation range and will likely slide lower in line with the existing downtrend.
Currently EUR/NZD found some support around 1.6780 (78.6% of the July-October advance). The return to the 1.6825/60 area will likely provide selling opportunities. The outlook will remain bearish as long as the pair’s trading below 1.6975.
Notice that EUR/NZD tends to be quite volatile, especially during the thin holiday trading season.
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.