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|Basic Tips for a Forex Trading Novice|
|beginners should understand how things work in the market. You must be able to understand the trade charts and the financial data. The decisions you have to make during the trading process solely depend on the charts and data. Thus, you must be able to determine which data are favorable and which are not. Do not depend on the software you have. Though the software has the capacity to calculate the data for you, it is also wise to|
|Trading Spreads and Commissions|
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Currencies technical analysis 5-10-2012 The pair has been fluctuating heavily within the past few weeks, failing to maintain a directional bias. Stochastic clearly illustrates the indecision seen on price action. However, the false breakout above the short term descending resistance shown on image, in addition to breaking below the 50-days SMA at 1.6025 level activated friday`s bearish scenario, which we continue to anticipate further downside pressure this week, possibly towards the 200-days SMA.
Currencies technical analysis 20-10-2012 The pair continued to move lower approaching 1.3030 level, while stochastic is heading towards oversold region. In general, we maintain our previous scenario unchanged , anticipating another bullish attempt. A break and steady trading below 1.3000 may weaken the suggested scenario and extend the bearish wave.
Technical analysis of currencies 30-9-2012 The pair has failed to re-visit 1.6300-1.6310 zones as it plummeted sharply after placing 1.6270 to be the peak for today’s trading until now. We remain neutral for the rest of the day awaiting a sustained breakout below 1.6180 with a weekly closing or above 1.6310 to pinpoint the next move. A break below 1.6180 will be a very negative indication as it will re-activate the double top harmonic BAT pattern.
Technical analysis of currencies 17-9-2012 The pair continued to move higher during the previous session after touching our suggested entry point as seen on the provided daily chart. The positive divergence will be stronger with a break above 78.50 regions as MACD is on its way to crossover positively . The main targets of our bullish outlook reside at 79.55 followed by 79.80 areas; a break above 79.25 will weaken the aforementioned resistances and may bring a retest of 80.00 psychological level.
Technical analysis of currencies 5-9-2012 Coming below 1.2590 with a daily closing again suggests that Monday’s breakout was a false one and thus, we cancel yesterday’s bullish scenario as the pair has entered the sideways trading range areas between 1.2440 and 1.2590 once more.
Technical analysis of currencies 3-9-2012 The pair has been trading within a narrow range achieving slow upside actions but remains trapped below 1.2590 resistance. Stability above 1.2440 contradicts with the negativity on Stochastic and thus, we keep our neutralityunchanged for the rest of the day
currencies technical analysis 31-8-2012 The sideways trading price behaviors continued to dominate the market during the previous session whole the pair remains trapped within a narrow range. Stochastic is very close to overbought areas and that may bring some kind of downside pressures. Anyway, we hold onto our neutrality until we get more confirmations about the next move. Ultimately, a break above 1.2590 will bring upside actions.
Currencies technical analysis 27-8-2012 the recorded high and the recorded low had been separated with just few pips, until now as seen on the provided daily chart. Trading above 76.4% supports bulls; whilst RSI 14 is neutral for the time. We will stay aside as far as trading remains between 76.4% Fibonacci and 61.8% Fibonacci of the wave from 76.00 to 84.15.
Technical analysis of currencies 24-8-2012 Bulls couldn’t take the initial resistance between 1.2550 and 1.2565 until now as seen on the provided daily chart. Stochastic and the potential bearish harmonic pattern discussed this morning are main reasons that force us to keep our neutrality intact for the rest of the day. A break below 1.2490 will activate the bearish pattern.
Technical analysis of currencies 21-8-2012 The pair has found some kind of support yesterday at SMA 20 which pushed it mildly higher once again but SMA 50 acted as a ceiling forcing the pair to close below it as seen on the provided daily graph. Assessing indicators, Stochastic is on the way to show a sign of weakness while MACD is still moving below zero level. Hence, we may witness a new technical attempt to breach SMA 20-valued at 1.2315- and also to breach the recently drawn support line. On the upside, only a break above 1.2440 with a daily closing will negate the bearish expectations.