We have outlooked several promising Forex pairs and the result can surprise you!
EUR/USD: a “hammer”
Information is not investment advice
EUR/USD formed a “hammer” candlestick on W1. Despite the fact that it fell as low as to 1.1025, it still managed to close the week above 1.11. As a result, a minor retracement to the upside is possible. A rise above 1.1127 would open the way up to the resistance between 1.1180 and 1.1210.
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.