We have outlooked several promising Forex pairs and the result can surprise you!
USD/CAD is facing resistance
Information is not investment advice
USD/CAD spiked towards the resistance in the 1.3350 area (the 61.8% Fibo retracement of the May-July advance) but failed to close above the 100-day MA at 1.3305. The pair’s at the upper border of the uptrend channel and can experience some correction. There’s a “Head and Shoulders pattern on H1 that confirms such a scenario. The initial target will be at 1.3247 (100-hour MA, 50-week MA). Given the fact that the price is still in an uptrend from the end of July, it will be necessary to look for buy opportunities in the 1.3225/1.32 area.
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.