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Important levels for CHF/JPY
Information is not investment advice
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area. That is a likely scenario as the yen seems like the stronger safe haven than the franc.
The overall downtrend is in place since September 2018. On H1 moving averages made a negative intersection. The outlook will remain negative as long as CHF/JPY stays below the weekly pivot at 109.05. If the pair managed to return above 109.15, it will be able to retest 109.40. Still, another return to 109.75 will make us once again look for the opportunities to make a sell trade.
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.