One of the many options available in the Tradera Forex back office are the number of market forecasts of various currencies Like the US Dollar versus the Canadian Dollar and the US Dollar versus Gold.
Below is a chart of the New Zealand Dollar Versus the Japanese Yen.
These forecasts are created regularly – for your education and benefit. This one was published in April 2020.
Here is there Forecast from April 6th 2020 of the US dollar versus Gold
We have had a lot of bearish momentum on Gold recently but within the last two weeks we see that Gold has created a bullish swing; giving us a short push to the upside. We have established the the point of origination of this move which has allowed us to pin point where the – 27.2 Fibbonacci extention is. Often times we can see very strong reactions from the – 27.2 and we are anticipating a very strong bearish move from there as that area is also where the recent highs lie.
If we break these recent highs we will flip our bias and begin looking for long set ups as shown.
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