What are trading channels? A trading channel is a chart pattern highlighted by two parallel lines: an upper line (resistance) and a lower line (support). The price moves within the middle of these lines. Trading Channel Basics There are three main types of channels: Horizontal channels represent sideway trend on the market. Ascending channels represent …
Learn How To Trade Channels – The Beginner’s Guide Read More »
EUR/USD Technical Analysis The technical outlook of the daily chart of EUR/USD shows that the price is moving towards the 61.8% Fibonacci Retracement level (calculated from a high of May 2021 to a low in September 2022). The descending trendline is acting as initial resistance; a break and closing above this line could spark a …
EUR/USD Reached Critical Resistance, Next Target is 1.1184 Read More »
EUR/USD Technical Analysis The daily chart outlook of the EUR/USD currency pair shows somewhat bullish sentiment. The prices are struggling to move past the initial resistance at 1.10510. A break above this level would strengthen the near-term outlook for EUR/USD. On the downside, the initial support is provided by the black trend line. Below this, …
EUR/USD near-term Outlook is Bullish with 1.10510 Resistance Read More »
USD/JPY Technical Analysis The technical outlook of the daily chart of the currency pair USD/JPY shows signs of a strong bullish trend. The price is moving above the Ichimoku cloud and has reached its critical resistance level of 138. This level offered great support to the pair in November 2022 from a massive fall. Furthermore, …
USD/JPY reaches near critical resistance 138 – A key level to Watch Read More »
Gold Technical Analysis The H4 chart of Gold shows that there are more buyers in the market than sellers. The prices have been moving in a descending triangle pattern for the past two weeks. Now, it has broken above the psychological $2000 mark. It is the same level where the 100-period Simple Moving Average is …
Gold Breaks Above the Descending Triangle Pattern and $2000 Read More »
USD/JPY Technical Analysis The outlook of the H4 chart of the USD/JPY currency pair shows that it has been continuously rising for about 32 hours. After breaking above the 50-SMA, the pair received a massive push that drove its prices to levels last seen 7-weeks ago. First, US GDP triggered the bullish trend with a …
USD/JPY rose to 7-week highest amid BOJ’s Decision to Keep Policy Read More »
USD/CHF Technical Analysis The H4 outlook of the USD/CHF chart shows signs of a possible reversal. Since March, the currency pair USD/CHF has been moving in a bearish trend. The prices have tried many times to rebound, but the 50-SMA has seemed to stop its efforts all the time. However, the price has now moved …
USD/CHF finally moved above 50 SMA – is it a reversal? Read More »
The greater the difficulty, the more the glory in surmounting it.
Epicurus
