Being contained by resistance of the upper border of falling price channel on daily chart, USDJPY pulled back from 90.76 level. However, the fall from 90.76 is more likely consolidation of uptrend from 84.82, another bounce towards...
AUDUSD stays in a trading range between 0.8916 and 0.9404. Moving sideways without trend in the range is still possible next week. As long as 0.8916 support holds, the price action in the trading range is treated...
GBPUSD broke below 1.6251 key support, suggesting that a cycle top has been formed at 1.6875 level on daily chart. Another fall towards 1.5708 would more likely be seen in next several days. Resistance is at 1.6370...
EURUSD broke below 1.4626 key support, suggesting that the uptrend from 1.3748 has completed at 1.5144 level already. Further decline is now in favor and next targets would be at 1.4300 area. Resistance is at 1.4800, only...
USD/JPY Open 88.29 High 88.99 Low 87.76 Close 88.19Dollar/Yen made a lowering attempt on Thursday to the 87.76 bottom, from where it started climbing up to 88.43, closing the day at 88.19. Today Dollar continue to strengthen...
GBP/USD Open 1.6274 High 1.6342 Low 1.6216 Close 1.6276Pound/Dollar traded hesitantly and with volatility on Thursday. Quotes attempted to decrease, reaching a bottom at 1.6216, from where the Cable bounced up to the 1.6342 top, closing the...
The EUR continues its decline against the Dollar on concerns the credit ratings of more European nations will be lowered. Spain had the outlook on its debt grade cut to “negative” from “stable”. Greece’s credit ranking was...
EUR/USD Open 1.4729 High 1.4758 Low 1.4691 Close 1.4731Euro/Dollar made an insignificant bullish movement on Thursday, reaching hights of 1.4758, and closing the day at 1.4731. This fact should be considered as a failure of the bears...
I recently received an email from a new trader who found himself in a losing trade and didn’t know what to do.
After having identified your entry on a new trade, the next step should always be to identify the price level for your protective stop.
