The key level to watch here is the red upward sloping trend line. So long as prices remain above this trend line, then we can maintain a bullish bias. The red trend line runs near $48 today. If crude oil prices move below this red trend line, then it acts like a red warning signal on the dashboard. There are still bullish patterns available like a diagonal. However, the odds of other bearish patterns increases diluting the opportunity at a good risk to reward ratio. Bottom line, a break of the red ...
After penetrating the zone of resistance that had developed last summer from $1,350-$1,375, short-term bearish price action has begun to show. Even with North Korea conducting another missile test and while the U.S. Dollar remained relatively bearish against most currencies, sellers controlled short-term price action in Gold, driving prices down to a key support zone. If we take the major move of last year’s high down the December, pre-rate ...
Stunning picture of South America taken from the International Space Station
EUR/USD suffered under pressure from the US dollar and as the German elections near. Is this just a correction after reaching new highs? Or has the rally peaked? Inflation data and PMIs stand out now. Here is an outlook for the highlights of this week. CPI (final): Monday, 9:00. The numbers will likely be confirmed in the final read.Bundesbank Monthly Report: Monday, 10:00. An upbeat assessment will support Chancellor Angela Merkel. ...
CurrencyStrengthHistory indicator with MTF feature ---------- CurrencyStrengthHistory_v1.8 600+ indicator was created for Premium Trading Forum. This is the the CurrencyStrengthHistory indicator with the important updates: it's MTF indicator and it differs from previous versions, the algorithm was improved and it should calculate much faster, the problem of synchronization was solved. The version is working for MT4 build 600 and above ...
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