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Forex Trading

Ahead of the London session.

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Gold 1 hour chart is indicating that the metal has ended the cycle from July 6 low in wave 3 at 1981.20 high. The yellow metal has now broken to a new all-time high above September 2011 high. The rally from July 6 low unfolded as a 5th waves impulsive Elliott Wave Structure. Up from July 6 low, 1st wave ended at 1818.14 high and there was a dip in the 2nd wave which later ended at 1789.87 low. From there, the yellow metal then continued higher and ended the 3rd wave at 1945.25 high. The pullback in the 4th wave ended at 1930.50 low. The precious metal then extended higher in the 5th wave, which ended at 1981.20 high.

Facing Major Resistance at 1968 in the 4h Chart. Printing Relative strength index Bearish Divergence As Well, In Bearish Case, It Might test the 1890 Support Area. If Resistance got cleared, Next Stop Would be 2020 a new all time high.

GBPUSD is in 4th wave correction possibly of C wave up. The WXY as double zigzag correction cycle is in progress where C of Y wave up is in progress. X wave was finished in triangle. Wait for 4th wave correction down to finished before bullish price action resuming up trend again.

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Agri-Tech

You can now assign Nairaforex traders to your funds.

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Nairaforex one of Nigeria’s leading trading services has now opened their  functionality to the general public. With Nairaforex, users can now assign the best remote professional forex traders to their capital and earn returns within a specific period.

Nairaforex who employs traders who work remotely across Nigeria, South Africa, Kenya, Germany, France and other countries. With Nairaforex, you can easily assign these traders to your funds to trade on your behalf and get back reasonable returns at the end of a specified duration.

Each trader posses a different money-back guarantee, deliver within different periods and have different returns on the funds. Nairaforex has also included the functionality of assigning more than one trader to your funds for preferential purposes.

Go to Nairaforex.com to join Nairaforex now, and for more information.

Stay tuned to Nairainvest for more investment opportunities and do not forget to subscribe to our newsletter for news at your doorsteps.

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Forex Trading

NZD/USD continues bullish move.

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The New Zealand Dollar and United States dollar pair closed at its highest since March 4th on Monday, extending last month’s bottom.

The breakout above the 23.7% Fibonacci extension at 0.7175 and falling resistance from February have been confirmed, exposing the 38.2% level at 0.7318. Beyond the latter sits peaks from 2018, making for a critical zone of resistance between 0.7397 and 0.7438

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Forex Trading

Gold aiming for new highs.

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Gold is ready to take out a powerful resistance at $1862, which is the intersection of the previous day high and Fibonacci 38.3% one-day.

Up next, a dense cluster of major resistance levels is put up around $1862, where the Fibonacci 23.7% one-week, SMA100 four-hour and SMA100 one-hour coincide.

The buyers will then target the SMA50 one-day at $1870.

Meanwhile, a lack of healthy support levels makes gold look vulnerable, with an immediate cushion seen around $1848, which is the convergence SMA100 and 50 one-hour and SMA10 four-hour.

Stay tuned to Nairainvest for more investment opportunities and do not forget to subscribe to our newsletter our newsletter for news at your doorsteps.

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