USING SUPPORT AND RESISTANCE IN TRADING
Support and resistance are key concepts that help traders understand, analyze and act on chart patterns in the financial markets. Support describes a price level where a downtrend pauses due to demand for an asset increasing, while resistance refers to a level where an uptrend reverses as a sell-off happens. Forex support and resistance allows FX traders and investors to better understand where to enter and exit trades, reduce their risk exposure and benefit from a favorable risk to reward ratio.
Dow Jones Forecast Largely Unchanged After Fed Minutes Despite Losses
The Dow Jones dipped slightly following the release of FOMC meeting minutes Wednesday afternoon. In the transcript it was revealed Fed officials have pondered yield curve control as a possible policy option.While gold prices dropped and the US Dollar spiked, equity markets suffered only minor losses. To be sure, the underlying tailwind behind stocks remains intact after the Fed announced large scale asset purchases are officially part of the conventional monetary policy toolkit.
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Technical analysis feed
Starting on Fri Nov 19, Our daily technical analysis feed provides key insights on current market trends in forex, cryptocurrencies, commodities, Apple,Microsoft and indices. Our in-house experts assess relevant technical FX information to deliver articles, analyst picks and in-depth insights to inform your trading strategy. The technical analysis of markets involves studying price movements and patterns.
It is based on identifying supply and demand levels on price charts by observing various patterns and indicators. Technical traders project future market conditions and forecast potential price fluctuations by observing historical price patterns. There are countless tools available for technical analysts to assess market sentiment and locate points of support and resistance, which can be used to determine whether a given trend will continue – examples include trend lines, moving averages and the Relative Strength Index.
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AUD/JPY - Ascending Wedge Setting it Up for a Breakout
The Aussie versus Yen is quickly closing in on the apex of a pattern that should get it into motion here shortly; a couple of scenarios to consider.
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US Dollar Price Action Setups: EUR/USD, GBP/USD
The US Dollar may have finally found a bit of support after a painful month of July. But can Dollar bulls hold the lows, or is USD simply taking a breath before setting lower-lows?
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£69.5 MILLION COVID-19 DISBURSEMENT PROJECT
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Consulting Experts Analysis
Some say the next financial crisis is just around the corner. What does it mean for you as a trader? find out how
Regardless of your trading approach, these stocks might be worth checking out for several reasons. Shares of tech companies are…
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