The Fibonacci channel is a technical analysis tool used in finance and stock trading to identify potential levels of support and resistance in the market. It consists of two parallel lines that are drawn at a distance from a trendline that is based on Fibonacci retracement levels.
The Fibonacci retracement levels are derived from the idea that prices will retrace...
The USD/JPY chart is a graphical representation of the exchange rate between the US Dollar and Japanese Yen. It shows the current value of the pair and its fluctuation in the past.
1] The USD/JPY pair is commonly referred to as the "Gopher" because it is the most liquid currency pair in the world.
The chart provides traders with a comprehensive view of the...
The EUR/USD pair has been trading in a tight range, with the bulls wanting the channel to continue but under a lot of selling pressure. The pair has been dropping since the start of the day and is currently trading around 1.09112. The market sentiment is bearish due to the mixed economic news and meetings that are scheduled today.
The market is currently...
The BTC/USD pair has been in a downward trend for the last few weeks, as it has dropped from a high of 23041 to its current level of 22983. This downward trend has created a good opportunity for bearish traders to take advantage of short term trading opportunities.
The current bearish trend has been driven by a combination of negative news, rising volatility,...
