The EUR/USD has formed a symmetrical triangle pattern on a 4 hour time frame. Although, it looks like very much symmetrical triangle pattern but the angle of this triangle is more skewed towards the upside, therefore the odds are stacked that it could break towards the upside.
اقرأ المزيدThe USD/JPY pair has broken its downward trend line on a 4 hour time frame. This confirms that the downward trend is no longer in play. As long as the price stays above this trend line t, the bias remains towards the upside. In terms of volatility the price is trading within the Bollinger band, which confirms that the volatility is low and it is trading close enough to its 20 day moving average.
اقرأ المزيدThe persistent downward trend for industrial base metal is still in play and the downward skew is very much dependent on the stagnant growth in China. For traders, tomorrow’s Chinese Q4 GDP data has significant importance as this will precept rest of the week’s trading pattern.
اقرأ المزيدSomething out of the norm has taken place for Tesco and traders are feeling upbeat about its future. Tesco has enchanted its shareholders with its Christmas numbers and Britain’s largest retailers is once again under the investor spotlight.
اقرأ المزيدThe GBP/USD pair is trading in a downward channel on a 4 hour time frame. The price has bounced back up from its minor support zone but the 20 day moving average has acted very much as a resistance line and pushed the prices lower. Given that we are trading below the 20, 50 and 100 day (shown in pink, yellow and red respectively ) moving averages and this shows bears are in control of the price.
اقرأ المزيدThe precious metal has broken its upward trend line on an intra day (4 hour) time frame. This shows that the bulls are losing their control. The price is trading below the downward trend line and it may continue to do until we reach some sort of minor support zone. The 50 and 100 day moving averages, shown in yellow and red colour respectively, do also act as minor supports and many traders will buy soon the price reach to them.
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