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Forex Trading

Gold drops on the back of good NFP statistics.

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Gold prices are fell drastically today, to as low as $2010 before making a sharp recovery to $2030 from which it is currently hovering. Earlier today, the yellow metal reached at $2075, a new record high. It then pulled back and accelerated sharply to the downside during the American session amid a rally of the US dollar.

The greenback was rising and after a short-lived delved to the lows o after the release of NFP, it resumed the upside, as a report suggests the White House will sanction Hong Kong’s leader Carrie Lam.

In another news, the US Dollar Index (DXY) jumped to 93.60, reaching the highest level since Tuesday. It is up by 0.75%, having the biggest gain in months. The greenback also rallied against commodity and emerging market currencies. In Wall Street, main stock indexes are falling modestly. The Dow Jones drops 0.19% and the Nasdaq 0.02%.

This brings an to an eventful trading week which has seen the USD at his weakest.

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Forex Trading

Gold dips after pmi release

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XAUUSD prices have slipped back towards where they traded for most of June. This is despite US yields and the dollar slipping back a little, which makes me think this move is more technically driven, than being a more bearish signal.

The yellow metal ran into resistance just above USD 1,835, around the same area it struggled a couple of weeks earlier. As long as it holds above USD 1,795, the outlook looks favourable. A move above that resistance zone could give the yellow metal a bit of a kick, with USD 1,855 then being key above here.

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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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