Get started

Currencytrading

DOLLAR drop to low of 2018?In this chart I had to stop myself from drawing too many lines. The trendlines make it clear to see that the greenback is stuck in a steep, downwards channel. The RSI is trending upwards, possibly indicating that the DXY is overbought even while the price is trending downwards. After breaking past it’s downward sloping support at the 91 level, it has traded sideways in the downward channel and is about to hit the top of the channel. Personally, I’m not seeing any indicators of bullish price action, so I expect the price and RSI to hit resistance and fall. The RSI is about to get wedged between a resistance line and support line, so expect a breakout in either direction. A close past 94 might cause me to change my bearish outlook.
TVC:DXYShort
by Isaiahgr3
4
EURUSD - Preparation of terminal thrustCurrent scenario seems to be a corrective move , that too in a triangular wave structure before the currency prepare gives a terminal thrust to complete its 1-2-3-4-5 impulsive wave. As of now the price will move up & likely to face resistance near the zone of 1.18500 which will complete the wave - d of the triangular wave. After facing the resistance , the currency pair is likely to take a support near the level of 1.1800 which will form the wave - e . After the completion of wave - e there will be another impulsive terminal thrust to complete wave (v) of 5 .
Long
by TradingSutra
9
USDJPY NEW UPTREND?Hey traders I am currently looking at USDJPY making a slight pullback before making another possible move to the upside. As you can see on the 4hr time frame we have had a big rejection from that 105.000 area and now looking like the bulls have this in an uptrend. For every trend we need to expect pullbacks before price continuing on to new areas, I have marked out 106.000 as its a nice round figure and has shown to be very supportive in the past, a pullback to this level could create another great risk reward and take this pair even higher. We do have some news this week that may influence this and show us some nice volatility within the market. As always plan the trade, trade the plan... have a good week!!
Long
by jamison_fx