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Forex Trading

GBP/USD waiting for short at resistance?

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The GBP/USD pair has been moving up ever since the market opened this week. The latest temporary swing high was made at 1.2857/80. Moreover, the bulls have broken out from the ascending channel and downside trend line from 1.3440, which is another confirmation of the positive sentiment despite the overbought market situation.

The monthly base is at the level of 1.2000, the key long term technical resistance is seen at the level of 1.3218. Only if one of these levels are clearly violated, the main trend might reverse.

The U.S. tally for confirmed cases of the coronavirus illness COVID-19 has currently climbed above 4.29 million today, with the death toll exceeding 148,000. The U.S. counted another 1,000 COVID-19 fatalities on Monday for a sixth straight day, according to data aggregated by Johns Hopkins University. The virus continues to spread in the South and West and governors are responding in different ways.

This news has caused a spike in the price of Gold with the precious metal currently hovering at the 1950 range in a bid to breakout into the 2000 range.

Investors are advised to be nimble, to develop sophistication and have stringent risk-control measures in place to protect their capital. In addition to the long term promises of Gold, there are many short-term opportunities in silver ETF SLV, +0.27%.

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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

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

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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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