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EUR/USD rebounded from support
Information is not investment advice
EUR/USD recovered from the March-April support line and formed a “Piercing line” candlestick pattern on the D1. The pattern appeared at the support area of 1.0800/1.0770. As a result, there are reasons to expect that EUR/USD will test higher levels, especially if the US Nonfarm Payrolls are in line with the forecast or worse. On the H4, we see that Moving Averages represent obstacles on the upside at 1.0853, 1.0870 and 1.0885. Still, EUR/USD will be capable of the move up as long as it stays above 1.0815. The break below the latter, will once again lead the price down to 1.0770.
Trade idea for EUR/USD
BUY 1.0855; TP1 1.0885, TP2 1.0925; SL 1.0840
SELL 1.0810; TP 1.0770; SL 1.0825
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.