Connect with us

Forex Trading

Gold hits post NFP support.

Published

on

At the moment, Gold is trading near $2,031 per ounce, having put in a session low of $2,019 early Monday. The precious metal created a bearish outside day candle on Friday, as prices clocked a high and low of $2,075 and $2,015, respectively.

A trend change could be confirmed if the bulls fail to defend Friday’s low of $2,015. As such, Friday’s low is a key support to watch out for this week.

Any acceptance under $2,015 could imply an interim top has been made and this could open the doors for a stronger pullback to $1981 which was initially a resistance but is now a support.

Also Friday’s bearish candle would be invalidated if prices rise above $2,075. Nevertheless with the 14-day relative strength index and slow stochastic reporting overbought conditions, a move below $2,015 looks more likely.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Agri-Tech

You can now assign Nairaforex traders to your funds.

Published

on

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.

Continue Reading

Forex Trading

NZD/USD continues bullish move.

Published

on

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.

Continue Reading

Forex Trading

Gold aiming for new highs.

Published

on

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.

Continue Reading

Trending