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Forex Trading

Gold prices drops In a dramatic turn of events early this morning.

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The XAU/USD pair consolidates as expectations that policymakers are moving closer to agreeing on the next US fiscal stimulus package.

This news extended some support to the USD. The yellow metal is current moving on a daily simple moving average of 1819.34 but however the latest concerns based on the increasing number of Coronavirus cases that was recorded during the end of yesterday could see the precious metal bounce back to its previous highs.

In another news, stalls in negotiations amid the fears of a no-deal Brexit has ensured that the GBP is largely unaffected by the rumors of the US fiscal stimulus package. The GBP/USD pair failed to capitalize on the 1.2900 mark after the chief Brexit negotiator David Frost claimed that it was highly unlikely that the United Kingdom and the European Union agrees on a deal by the deadline that was set by prime Minister Boris Johnson.

Frictions between the United States and China has pushed investors to the by lines as the USD/JPY pair is now moving on a daily SMA20 of 107.1. It would be advisable to wait for a strong bullish interest before taking any aggressive bet.

The relative strength index is hinting at a corrective downside as the EUR/USD pair is currently receding from the current overbought level. While the current correction is expected to last longer, a shift in bias is not expected any time soon.

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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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