EURUSD new support and resistance levels are formed, it looks like wide trading range is formed between these two barriers. While candles remain in this area, further jumping is expected. For now, while support holds, bulls are in better shape.
Category Archives: General Forex
FOREX: November In Perspective
Economic parameters vary with great speed over the course of a trading day. For this reason, it is useful to look at data over a slightly longer term to gain an insight into any trends that might be emerging which can be exploited for your investment strategy.
Closing in on Official Shopping Season
The DJIA was flat Friday closing the day down just 14.28 points. The week saw the DJIA gain 9/10th of a percent while most Global Equity Markets finished the week in negative territory. The Greenback gained as risk was held in check as the DXY closed above 75.57 in the forex market, for the first time since November 12th.
EURUSD Short Term Upswings Expected
EURUSD candles have been locked between support and resistance levels for a long time now. By each rebound by support level, this barrier gets stronger and more significant for bears side. Today we can expect short term upswings towards resistance level. Just below support level, bears can feel more confident.
Bad news: Dollar Will Have EUR/USD over 1.5000
The Bollinger Bands, Full Stochastics and RSI are venturing above their centerline on the one day charts while the StochRSI is remaining close to it’s centerline.