The DAX index is trading below the downward trend line on a 4 hour time frame. This confirms that the trend is skewed towards the downside. The price has also pierced the lower line of Bollinger band indicator which confirms that the volatility is high. Piercing of the Bollinger band does have a significant importance…
Read MoreThe GBP/USD pair is trading near its minor support zone (1.4107-1.4051) on a 4 hour time frame. The price is trading at 1.4125 which is below the 50 and 100 day moving averages (shown in yellow and red). The reading for 50 day MA is 1.4252 and the 100 day is 1.4268. The price is…
Read MoreThe USD/JPY pair is trading in a downward channel pattern on a 4 hour time frame. This confirms that the trend is skewed towards the downside. Moreover, the price is also trading below the 50 (shown in yellow) and 100 day (shown in red) moving averages and this further confirms the earlier statement as these…
Read MoreCrude oil is entering in a minor support zone (35.89-36.24) on a 4 hour time frame. The price is trading below the downward trend line and this confirms that the trend is towards the downside. The crude price, which is trading at the time of writing this article has a reading of 36.24 and it…
Read MoreThe gold price is trading in a symmetrical triangle pattern on a 4 hour time frame. These patterns are notorious because of their failure rate with respect to their pattern completion projection. The symmetrical triangle usually breaks in the direction of the trend and the trend line (shown in pink) confirms that the trend is…
Read MoreThe EUR/USD pair is trading above its upward trend line on a 4 hour time frame. This confirms that the trend is skewed towards the upside and as long as we remain above this trend line, the bias may remain for further upside move. The price has pierced the Bollinger band, as shown in the…
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