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The Forex Lounge
Uczestnik z Jan 13, 2011
26 postów
Jan 07, 2014 at 00:12
Uczestnik z Jan 13, 2011
26 postów
A Beautiful clear downtrend for GOLD on the Daily chart from 1434 (28.8.13) to 1180 (31.12.13)
The high of today at 1250 is a key resistance level, if it manages to break it we will have 2 new reversal signals ( cross above 55 moving average + trades outside downward channel)
The first reversal signal was the double bottom we saw at 1180
The high of today at 1250 is a key resistance level, if it manages to break it we will have 2 new reversal signals ( cross above 55 moving average + trades outside downward channel)
The first reversal signal was the double bottom we saw at 1180
Uczestnik z Jan 13, 2011
26 postów
Jan 07, 2014 at 14:28
Uczestnik z Jan 13, 2011
26 postów
How to spot Trends and their Reversals
EURUSD on daily chart is clearly in an uptrend as we see it still trading within its ASCENDING CHANNEL. However we do see reversal signals.
- Double top pattern at 1.3800
- Price recently dropped below 55 Exponential Moving Average
- MACD drops below 0
- Momentum 22 drops below 100
EURUSD on daily chart is clearly in an uptrend as we see it still trading within its ASCENDING CHANNEL. However we do see reversal signals.
- Double top pattern at 1.3800
- Price recently dropped below 55 Exponential Moving Average
- MACD drops below 0
- Momentum 22 drops below 100
Uczestnik z Jan 13, 2011
26 postów
Uczestnik z Jan 13, 2011
26 postów
Jan 09, 2014 at 09:37
Uczestnik z Jan 13, 2011
26 postów
Good economic news comes out from the US
This should theoretically cause a rise in the dollar(good for the economy good for the currency), but the dollar is usually used as a safe haven, so when good economic news comes out investors feel optimistic and want risky assets with better returns than the dollar, so they sell it and buy other stuff, so it goes down.
So the lesson is good US economic data has an UP and DOWN effect on the dollar. Go figure
This should theoretically cause a rise in the dollar(good for the economy good for the currency), but the dollar is usually used as a safe haven, so when good economic news comes out investors feel optimistic and want risky assets with better returns than the dollar, so they sell it and buy other stuff, so it goes down.
So the lesson is good US economic data has an UP and DOWN effect on the dollar. Go figure
Uczestnik z Jan 13, 2011
26 postów
Jan 09, 2014 at 11:53
Uczestnik z Jan 13, 2011
26 postów
The Bank of England and the European Central Bank are both expected to keep monetary policy on hold Thursday. What ECB President Mario Draghi says about low inflation could signal whether the bank expands stimulus at future meetings and move the euro
The Fed in December said it would begin reducing its monetary stimulus, cutting bond purchases to $75 billion in January from $85 billion. The Fed’s bond purchases had been understood to weigh on the dollar.
Oil prices have failed to receive support from the six consecutive weekly declines in crude stocks, as “the larger-than-expected build in gasoline and distillate inventories” also prompted some selling
The Fed in December said it would begin reducing its monetary stimulus, cutting bond purchases to $75 billion in January from $85 billion. The Fed’s bond purchases had been understood to weigh on the dollar.
Oil prices have failed to receive support from the six consecutive weekly declines in crude stocks, as “the larger-than-expected build in gasoline and distillate inventories” also prompted some selling
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