We have outlooked several promising Forex pairs and the result can surprise you!
EUR/USD ahead of NFP
Information is not investment advice
EUR/USD spiked towards 1.1265 this week but failed to overcome the declining 50-day MA. The pair formed a “shooting star” candlestick and fell. Yet, only now has the euro got to the weekly pivot point at 1.1170. The decline below this level will make the pair slide towards 1.1080 and 1.1020.
The fact that the euro area’s economic figures remain weak, while the US Federal Reserve pulled back the expectations of a rate cut this year, represents another argument for selling EUR/USD. The US Nonfarm Payrolls data at 15:30 MT time will increase volatility.
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.
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?