Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Technical Outlook
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="katetrades, post: 126599, member: 21862"] [B]EURUSD Countertrend Setup (Apr 26, 2017)[/B] EURUSD is moving inside an ascending channel on its 4-hour chart and is currently approaching the resistance at 1.0950 to 1.1000. If this area keeps gains in check, the pair could head back to support at the 1.0700 major psychological level or at least until the mid-channel area of interest. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside, which means that the resistance is more likely to hold than to break. The moving averages are close to the bottom of the channel, adding to its strength as a potential floor. Stochastic is already in the overbought zone, which means that buyers might already be exhausted and willing to let sellers take over. There are no major reports due from the euro zone today so the main event risk might be Trump's tax reform announcement. If market watchers are unimpressed by the details or likelihood that the changes will be implemented by the end of the year, the dollar could wind up giving up more ground against its counterparts. Data from the US turned out mixed recently, with housing data coming in stronger than expected and consumer confidence falling short. [IMG]https://www.tradersway.com/var/tw/storage/images/media/images/26_apr_510/498669-1-eng-US/26_apr_510.jpg[/IMG] As for the euro, the optimism after the first round of the French elections continues to keep the shared currency supported. To top it off, polls continue to show a widening lead in favor of Macron, lowering the odds of a Le Pen victory and a Frexit. [I]By Kate Curtis from Trader's Way[/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…