Technical analysis is based on the assumption that it is possible to look at historical price action and determine probabilities of the potential price movement for currency or other trading instruments.
Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into the behaviour of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.
Most traders who use technical analysis consolidate the capabilities of several technical tools, such as moving averages, to predict future short-term momentum, but they never fully realize all potential for identifying levels of support and resistance.
In technical analysis, support and resistance levels are needed to identify price points on the chart, which indicate a reversal or pause of a prevailing trend.
It is important to understand there is no magical combination of technical analytics instruments that will unlock a strategy with unchecked gains for traders.
JPY is strengthening against USD, while Gold has finished the descending wave. Among other assets discussed in the overview are EUR, GBP, CHF, AUD, Brent, and the S&P 500 Index.
USD is strengthening against EUR and GBP, while the S&P 500 index may start a new descending wave. Other instruments we’ll mention are JPY, CHF, AUD, Brent, and Gold.
Gold may update its high, while EUR and GBP are correcting their ascending waves. We’ll also talk about JPY, CHF, AUD, Brent, and the S&P 500 index.
EUR and GBP continue trading upwards, while Gold is still consolidating. JPY, CHF, AUD, Brent, and the S&P 500 index are also covered in the overview.
EURUSD and USDJPY are forming their respective consolidation ranges. Today’s overview also covers GBPUSD, USDCHF, AUDUSD, Brent, and Gold.
GBPUSD is still moving upwards, while EURUSD and Gold are consolidating. Among other assets discussed in the overview are JPY, CHF, AUD, Brent, and the S&P 500 Index.
The USD is losing the positions regained yesterday. The instruments we’ll mention are EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, Brent, Gold, and the S&P 500 index.
The S&P 500 has started falling, while Brent may get even cheaper. We’ll also talk about EURUSD, GBPUSD, Gold, USDJPY, USDCHF, and AUDUSD.