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Forex Trading

Will there be a Gold sell off?

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Will there be a Gold sell off?

The whole eyes of the market is currently on Gold. And why is that? Because Gold is currently at an all-time high.

The current spike in the price of Gold has attracted many people and because of its recent rapid growth – investors and also people who have never invested before. A situation that could be potentially be very dangerous for both of those groups.

 Gold is currently at a critical area now. It is almost at the $2.000 mark. This could work as a strong resistance based on a psychological standpoint, as prices could be rejected at that point.
The last time the market experienced a similar scenario was in 2008 and 2014 when the price reacted to $1.000 mark.

We are not exactly saying that prices will reverse now because it is at $2.000, but the possibility that it could reverse should be taken seriously.

Potential trading advice: it is advisable for traders to stay off the market and let the scenario play out.


As prices has breached historical highs, it is very important that the price manages to stay there. The risks are that even though the price has made the breakout, if the higher prices are not accepted as “fair value prices” then prices could break and fall sharply down.

Trading strategies.

  1. We could wait till higher prices got accepted – which means that price started to rotate above the $2.000 mark. Before entering the market.
  2. Wait till prices drop to buy cheaper.

 How deep do prices need to drop in order to enter the market?

The best place to jump in a long trade is around 1710 mark.

And why is that?

Because If you use a volume indicator and look at how the volumes were distributed throughout the last couple of months, then you will see that a lot of trading positions got placed around the 1710 area. In those areas, buyers were entering their long positions slowly. The big institutions were getting ready for a big push.

When they slowly accumulated their long positions, they started an aggressive buying activity. This activity snowballed, with traders starting to join in the new buying, and the price started to rise sharply.

Now, if prices drops back into the 1710 zone again, it is possible that big institutions will become active again. This zone is particularly important because a lot of positions were taken there.

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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

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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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