Gold has been consolidating in a descending triangle this week after it found resistance at about 1322. Note the bullish bias in the 1H chart. 1) Price was bullish at the end of last week, so the prevailing trend in the 1H chart is bullish before it consolidated this week. 2) Price is for the most part trying to stay above the 200-, 100-, and 50-hour simple moving averages, which would reflect a bullish market. 3) Price broke above the descending triangle resistance today. ...
When markets pullback from the trend consider trading retracements Traders can time entries at support and resistance using oscillators Manage risk over previously market swing highs or lows 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 to continue the Definitive Guide to Scalping, we will focus on trading ...
- U. of Michigan Confidence Survey to Rebound Following Unexpected Decline in July. - Expected to Hold Above 80.0 for Ninth Consecutive Month. Trading the News: U. of Michigan Confidence A rebound in the U. of Michigan Confidence survey may generate a bullish reaction in the U.S. dollar (bearish EUR/USD) as it raises the outlook for growth and inflation. What’s Expected: Why Is ...
Originally Posted by matfx Svetlana Valueva Painting
EUR/USD Monthly Technical Analysis for August 2014 The stronger U.S. economy and the possibility of higher interest rates helped drive the EUR/USD lower in July. At the same time, Euro investors are starting to believe the European Central Bank may have to impose more aggressive economic stimulus on the Euro Zone in order to avoid deflation. Additional sanctions on Russia because of its active involvement in Ukraine is also influencing the price action as investors price in the possibility ...
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