The euro/US dollar currency pair is likely to end its downward movement and grow in the medium term:
H1 – formation of an entry bullish wave H1 – break through the upper limit of the downward line D1 – the price retreated from the left shoulder level of the Inverse head and shoulders pattern D1 – formation of the reverse candlestick pattern Bull Hammer.The formation data as well as relevant levels of support/resistance are shown on the charts below.
While major currency pairs choose what direction to take, let’s have a closer look at EUR/NZD. What is so special about this pair? The thing is, this trading instrument is in the phase of continuous consolidation that is reflected by the Wedge pattern. Perhaps, you know better than me that rapid development of the pattern can bring decent profits. By the way, the last target level is 1,800 pips above the current price according to this pattern. That’s quite tempting, isn’t it? So let’s look at the EUR/NZD chart with different time frames.
Crude oil prices (#CL) decline for the second consecutive day and the bearish sentiment starts to dominate the market. In particular, I expect oil prices to continue to fall within the Wedge pattern (Н4), which is the right shoulder of the Head and shoulders pattern (D1). If oil price is in line with forecast, crude will weaken by 8-10 percent during the next couple of weeks. Therefore, I offer you to seize the moment and try to make “a couple of bucks”.
So, what do we have today?
Hello dear blog visitors! Winter is at its best this year. Kids are pleased with fine snow. Nevertheless, severe frost prevents people from spending time outdoors and enjoying a ride on sled and skiing. I wish I could. I was facing the same situation on my active account in early January. First, I had fears about unexpected dynamics of trading instruments amid low market liquidity in the days of Christmas and New Year celebrations. Then my fears were followed by great confidence in my trading decisions that led to higher volumes of positions I decided to open.
Dear friends! For 10 days more than 200 traders have been trying to make Huge Catch and get a lot of profits. Little time has passed, but some of the participants have already managed to prove themselves and substantially raise their start-up capital. For example, the leader of the standings increased the initial deposit by 40 times! Perhaps you will say it’s a glitch because for the vast majority it requires more than a year to achieve such results. And you are absolutely right! If trading through classical capital management, then it will take at least 5 years to make $200,000out of $5,000.
Dear friends! Today, the ForexMoney forum administration under the sponsorship of InstaForex has started a trading contest for demo accounts called Huge Catch. Anyone can fish. The only thing you need to have is a craving for winning and some spare time. At the moment, more than 230 people have already signed up for the contest and now are hurrying to get the finest places to show the best result by the time when the winner will be determined.
Good afternoon, dear friends! I congratulate you on the upcoming holidays and wish you every happiness, peace and goodness with all my heart. May all your wishes and secret ambitions come true in the New 2017 Year and may Santa Claus bring you a bagful of health, happiness and love under the tree!
Before greeting the Red Fire Rooster, the owner of 2017, let's see what the sweet troublemaker Monkey brought us in 2016.
Good morning, my dear readers. And it is a good morning indeed not only for me, but for all those who followed my advice last week and placed a sell trade on EUR/JPY after applying the Three Indians pattern. A few hours after the market had opened, the take-profit order set at the last price level was executed, and the trade was closed with a gain of 250 pips.
The formation and implementation of the setup are strikingly technical, so I think that they are worth entering in the indispensable guide to forex trading.
Hi to everyone. First all, let me wish you a good start of the winter. Days get shorter and we feel more comfortable at home, so I spend plenty of time, trading and getting better insight into the world of financial markets. Yes, that’s right. Though I’ve got vast experience on Forex, there is always something new for me, and if I find some interesting material, you are the first who learn about it.
