Overview Price is currently resisted at the monthly pivot with its closing value modelling the opening one @1.4400. Although price closed lower, Euro dollar actually formed a new top virtually matching that of July’s high. Expectation for Week 31 It’s the first time in three months since
Read more →Overview Week 26 saw buyers into overdrive mode; a 400pips surge overwhelming two former weeks’s high. The upward move was limited at resistance of symmetrical triangle @1.4520, which also corresponded with peak of week 15 along with sequence of supports and resistances. Expectation for Week 27 The
Read more →Overview of AUDUSD week 26: The daily chart shows a clear trendline break to go long and after weeks of bearish sentiment, the market prints a falling wedge at a strong support level that explains why the price rose to about 400 pips at closing. Anticipation for
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Read more →There is a confluence of supports here at this moment for the Cable. Besides a throwback to the previous resistance trendline, there is an addition of 55ma on the 4-hour chart as well as monthly and weekly pivot M2. If the 1.9600 to 2.0024 move were to
Read more →To handle the volatility and ranging behaviour of many pairs in the forex market, the trader should be prepared to enter at a point of strength or have a very wide stop. Most day traders would probably not be prepared to have stops of 50 pips or
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