All four technical indicators, Bollinger Bands, Full Stochastics, StochRSI and RSI don’t seem to have anything in store for the 18th trading day on the one day charts. Price action on the one day charts seems to suggest a upward movement that many fundamental traders agree with. One day technicals though, want a range bound market on November 18th.
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On Balance Volume in Forex Trading
On balance volume was coined by Joe Granville in his book, New Key to Stock Market Profits, in the year 1963. It is a momentum indicator that measures the positive and negative volume flow and relates volume to price change. The indicator is based on the idea that volume precedes price. It measures the sum total of the volume indicating whether the money is flowing in or out of the currency.
Gold Makes Huge Gains
The DJIA completed the Global Equity Market rally today currently ahead 140 points to 10,410. The rally during the Asian and London session got underway as the Asia Pacific Economic Cooperation group universally agreed to maintain and support whatever measures are necessary to put the global economy back on track.
EURUSD Looking Positive Ahead
EURUSD despite the extreme spike low, bulls did manage to recover. Flag pattern formed after downswing, it can suggest another short term downswing, however this pair is looking positive and resistance line can be tested today.
Analysis of All Currencies Down Under
The Aussie continues to strengthen against the Greenback and is now retesting short term resistance at .9343.