The pair is advancing up a trend line, supported by a bullish RSI and the 50 hourly moving average. Today the pair opened above the pivot price which is at 86.75. Price is currently around the support zone of the rising trend line. (more…)
Posted on: March 14, 2017
A very weak Sterling has been on the receiving end of an Euro dominance for the better part of the week and the last few days of last week. Today the market opened above the pivot which is at a price of 0.8650. There is still potential for some further upside.
Posted on: March 9, 2017
The strength of the US economy in recent times, coupled with the increased possibility of a rate hike later this month has seen the Dollar dominate against a basket of other currencies. More recently the USD Index took a correction towards support but is not on track to make a recovery.
Posted on: March 7, 2017
The pair is on a tight uptrend although as can be clearly seen, the RSI is at an overbought point. This can signify that the trend could push up much further or could signify the market may soon reverse. A reversal would likely be indicated by price moving below the days pivot, which is at 1.077, and below the 50 MA. Also a reversal might be signaled by a bearish divergence.
Finding it hard to keep up with your day and trading opportunities? Download the EGM app today & keep up with relevant trades all day
#TradingFacts: Trading is open to anyone with an Internet connection. All you need to do is open an account with an online brokerage.