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Forex Trading

Eyes set on NZD as government confirms new coronavirus cases.

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The NZD, New Zealand dollar may come under increasing pressure in the foreign exchange market on the back of the news that the New Zealand government plans to start new coronavirus tests. At the moment, the government has ordered for the closure of a retirement village. The village which is situated at Christchurch is now under total lockdown after 5 people were tested positive for the virus in one day.

Gold is currently trading as low as 1922 per dollar. This major dip comes on the back of Russia claiming they had discovered a vaccine for the novel Coronavirus. With it being tested on the president Vladimir Putin’s daughter. It is worthy to note that gold has been on a losing streak since the turn of the week, that has seen it drop from an all time high of 2075$.

In the international scene, China has banned a few US officials in a retaliatory move against the United States interfering in their Hong Kong territory. At the moment, the market has not reacted to the news. The Chinese government has also kept mute about the US banning of some of it technological companies.

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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.

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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.

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