Natural gas price is driven by supply and demand .Key factors that affects price are production, net imports,storage inventory levels,weather,economic conditions.
What are we seeing currenty is an imbalance between supply and demand ,precisely rising demand,which is causing higher prices.
Higher gas prices means higher electricity prices,because 38% of electric...
USD/JPY is trading at 111.350,price rejected support couple of times.
Rsi is showing exaggerated divergence.
If nfp would be around 7ook or more I would be expecting to price bounce of a 111.350 level,if not we could expect a downside move to 111.001.
So lets be patient and wait for a market move.
Happy trading.
AUDUSD on 1hr time frame looking at the bigger picture is in uprtrend,but has failed to make higger high since the sixt of january,from that is in bearish bias.
At a level of 0.76000 price is finding support,and also touching the trend line.Also price is creating a falling wedge pattern,but to be valid it has to breake the resistance area or 0.38 or 0.5 fib...
On a 1hr time frame USDTRY has hit new bottom(low),Price is also in a downtrend on a 4hr and a daily time frame.
Rsi is in oversold zone below 30,and it is showing that is price losing momentum,also at the bottom rsi is showing a bullish divergence,a possible trend change.
At the bottom we have a pin bar(hammer) a single reversal pattern.If price breaks a level of...
On a 1hr time frame gbpjpy is in an uptrend,currently ranging,it came to the level of 142.337 to the resistance area.
Rsi(14) is showing bearish divergence,so I am expecting to drop to the level of 141.306.
Also I would like to see more price action for confirmation.
Happy trading.
Simple price action analysis.Price touched trend line a couple times,so i am expecting the same this time,to touch and bounce from it to the level of 1.37250.My entry confirmation is bullish engulfing candle.RR ratio is 2:1.
Happy trading.
