Tag: currency tradingSort
Over the past few years Forex traders have really had to step up their game in order to continue making money in the currency market. Back in the day before currency trading was main stream, currencies used to trend in a direction for a long period of time with a low level of volatility.
Hello traders! My forex pick for the day is the Australian dollar versus the US dollar currency pair (AUD/USD). What I wanted to show is the possible 5-day symmetrical triangle pattern forming in its 1-hour chart. In case you do now know, symmetrical triangles have 50% chances of breaking out/breaking down and what usually determines the breaking point is where the trend is coming from.
Good day forexers! In my technical analysis, there could be a symmetrical triangle forming in the 1-hour chart of the Euro versus the US dollar currency pair (EUR/USD). Symmetrical triangles are often neutral so the breakout bias would most likely be from where the trend is coming from. In our case right here, the triangle’s coming from an uptrend.
New Zealand Dollar Looking To Revisit Its All-Time High Against The Greenback
The New Zealand dollar versus the US dollar (NZD/USD) is currently at 0.7770. In simple terms, 0.7770 USD is equal to 1.00 NZD. In my technical perspective, from September of 2009 to 2010, the forex pair consolidated sideways and formed an inverted head and shoulders on an uptrend. A month after, it broke out from the said pattern until it reached a 2-year high of 0.7975.