Knowing When to Stop Trading
The worst thing a trader can do is lose control while on a winning streak. This is where trading in the foreign currency market is similar to gambling. Players who do not know when to stop end...
Month: February 2009
Relative Strength Index Explained
Relative Strength Index (RSI) is used to quantify the strength of the entire set of ascending movements in opposition to all descending movements within a given period of time. The following is the Relative Strength Index equation:
How to Trade Successfully During Unstable Markets
Many buyers and sellers consider unstable markets to be a time of favorable conditions for trading. While large market variations can represent a great chance for profit, they can also mean losing a lot of money if...
USDJPY Analysis – Feb 24, 2009
USDJPY breaks above 94.61 previous high resistance, suggesting that a cycle bottom has been formed at 87.12 on daily chart and the fall from 110.60 (Aug 15, 2008 high) has completed. Further rally is now in favor....
USDCAD Analysis – Feb 21, 2009
USDCAD has reaches the upper border of the triangle pattern. Pullback would more likely be seen and target would be at 1.1850-900 area. However, a break below 1.2280 level is needed to confirm such case. Initial resistance...
USDCHF Analysis – Feb 21, 2009
USDCHF pulls back sharply from 1.1883, suggesting that a cycle top is being formed. Key support is located at 1.1399, a break below this level will confirm the cycle top, and then deeper decline could be seen...
USDJPY Analysis – Feb 21, 2009
USDJPY is testing the previous high resistance at 94.61. Consolidation would more likely be seen before breaking above this level. However, a break of this level will indicate that the downtrend from 110.66 (Aug 15, 2008 high)...
AUDUSD Analysis – Feb 21, 2009
AUDUSD formed a cycle top at 0.6849 level on daily chart. However, range trading between 0.6248 and 0.7267 is expected and rebound towards 0.7100 zone would more likely be seen in a couple of weeks. Near term...
GBPUSD Analysis – Feb 21, 2009
GBPUSD has formed a cycle top at 1.4985 level on daily chart. Consolidation in a range between 1.3503 and 1.4985 is expected in a couple of weeks. Long term key resistance is now at 1.4985, a break...
EURUSD Analysis – Feb 21, 2009
EURUSD remains in medium term downtrend from 1.4719. The rebound from 1.2512 is treated as consolidation of the downtrend. Key resistance is now located at 1.3093, as long as this level holds, we’d expect downtrend to resume...