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Forex Trading

Huge profit opportunity in GBP/USD?

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GBP/USD move upward from 1.22486 which has been proven as a support many times. The pair tested and broke-out from 1.2900, now testing again the same level after breaking the channel. A huge profit opportunity can now be confirmed with the current breakout.

XAUUSD has been rising since the 20th of July due to the weakness of the dollar. The price of Gold usually influences the market and big questions needs to be asked; is the market in a panic mode?

Away from the question, is this the end of Gold upward trend?

It could be, for now.

Wedges are forming, which means the prices may go down soon it could also mean the opposite. At the moment, it seems like the Gold price it tired and does not have enough strength to breakout. So, if we consider the rising wedge, the price could go down to 1899.14, which is also 0.5 retracement level for Fibonacci.

The Monthly average convergence divergence lines show us the same direction, which is bearish . And Relative strength index is also telling us that the same story, the price is going down from the overbought area.

We could expect a bearish trend now.

In another pair, EURUSD is now trading below the strong horizontal level in a bullish triangle, while also forming a potential double top .

This mix of conflicting signals gives a plethora of scenarios that should be considered.

Scenario 1: EUR to retest the resistance and possible breakout up.

Scenario 2: A bullish breakout of the triangle and the resistance.

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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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