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Dollar Bull Run Longest on Record after Fed Updates Rate Outlook As lackluster as the volatility and sentiment reaction was to last week’s FOMC decision, the event sustained the Dollar’s incredible run. Now on a 10-week bullish binge, this is the most enduring greenback run on record. Euro at Potentially Significant Turning Point The Euro tumbled to fresh lows versus the high-flying US Dollar on a week of bad news for Europe and much better developments out of the US. ...
Talking Points: AUD/USD short trade from last week triggeredSentiment still giving bearish signalsDowntrend could continue towards 0.8700 AUD/USD Support Broken - Bearish The trend line support cited in last week's article has been broken. The chart below shows that over the weekend, the AUD/USD gapped below the trend line and closed for the day. We had said we would act on a trade if the closing price was below support. That was our trigger. After a ...
Talking Points: The triangle formation can show in three varieties; we outline each below.Triangles signal congestion or consolidation as the range of price movement decreases.Traders can look to trade breakouts by treating triangles like other congestion patterns. The Triangle Trending markets will often put in a series of ‘higher-highs’ and ‘higher-lows’ (during up-trends), or ‘lower-lows,’ and ‘lower-highs,’ during down-trends. But what about ...
Talking Points Breakout traders should first find support & resistanceEntries can be set as close as 1 pip above these valuesSupport and resistance can also be used for managing a position Scalpers have a variety of choices when it comes to an execution strategy. This decision should be decided after carefully evaluating current market conditions for the currency pair of their choosing. Today we will continue the Definitive Guide to Scalping ...
Talking Points: -The Psychology of Gaps -When the Gap Doesn’t Fill -Using the Gap for Future Reference "There are no facts - only interpretation" – Nietzsche In the Forex market, gaps are rare. A gap shows on a chart when an open prints below the prior close. This often happens to a major shift in the market’s understanding of value from the close of the prior session to the start of the current session. The Psychology of Gaps ...
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