We have outlooked several promising Forex pairs and the result can surprise you!
NZD/USD turned down
Information is not investment advice
Last week NZD/USD made a significant thrust to the downside. The pair went below the 200-day MA that is now providing resistance in the 0.6730 area. The weekly pivot point is located at 0.6710 and the picture will remain bearish as long as NZD/USD is trading below this level. It looks like the pair is finally breaking the previous range between 0.67 and 0.6950 to the downside. That’s why we favor sell trades.
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.