Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD is near the strong support
Information is not investment advice
On the daily chart of EURUSD, the pair touched the strong support at 1.1070. Traders are waiting for the American Prelim GDP data. If the actual release is higher than the forecast, the USD will be additionally supported and the risks of the further decline will increase.
On H4, we can consider a continuation of the fall if the pair closes below the support. Next levels to watch are 1.1055 and 1.1028.
If the pair rebounds from 1.1070, The resistance will lie at 1.1086.
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?