We have outlooked several promising Forex pairs and the result can surprise you!
Keep an eye on EUR/NZD
Information is not investment advice
EUR/NZD formed a number of candlesticks with long lower wicks on the D1 - a sign that there’s demand for the euro around 1.7300. The pair is trying to form a bottom and is currently testing the resistance line connecting October highs. Resistance is also provided by the 200- and 100-periods MAs on the H4 in the 1.7430 area. A break above 1.7440 is needed to open the way up to 1.7490 and 1.7515 (Oct. 30 high). Support lies at 1.7395 (50-day MA). The return below this level may weaken the pair to 1.7350 and 1.7325.
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.