We have outlooked several promising Forex pairs and the result can surprise you!
USD/JPY can attract sellers
Information is not investment advice
The Federal Reserve sent a dovish message this week. USD/JPY broke below the January-March support line and the picture for the pair turned bearish. So far, the US dollar has managed to get support around 110.40 (50-day MA, 23.6% Fibo). A decline below this level will open the way down to 109.75 and 109.30 (38.2% Fibo). On the upside, selling pressure will increase if USD/JPY returns to the 111.00/111.30 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.