Forex trading short EUR/NZD – Gold at record highs, again [Video]
Over the weekend, Trump announced new tariffs on steel and aluminium and the markets fell.
But, buyers took advantage of the bargains!
We have seen this before where a big news event moves the markets.
When the same thing happens again, it’s not as severe, but get used to volatility of the next few years.
We have been talking about gold going to $3000 and we are not there yet but getting closer.
Gold is a safe haven asset and the uncertainty around the craziness in Washington has driven investors here.
From the technical standpoint, all indicators are bullish and you will see the same in every time frame.
Basically, the fundamentals outweigh the technicals these days.
Speaking of precious metals, we see a range trading opportunity on silver and we are currently mid-range.
EUR is one of our weakest currencies right now so we will look for opportunities.
NZD is quite strong these days so a short on EURNZD would be logical.
We see a pullback from the bear run and the stochastic oscillator is overbought and turning over.
If we look at the daily chart, we see we still have room to move to the downside.
If you are keen to try some news trading this week, we have economic events from the US, the UK, Switzerland, and New Zealand.
Reprinted from FXStreet，the copyright all reserved by the original author.
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