Diamond patterns, rare but frequently profitable, are a combination of a broadening pattern and a triangle. The pattern doesn’t have to be completely symmetrical.
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.
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.
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.
GBPUSD – A Closer Look
Range bound trading continues. It is especially obvious when MA is moving horizontal. Notice on the daily Cable chart below that the 50 SMA has been horizontal since late July while the 100 SMA turned horizontal in late September.