Abstract:EUR/USD: Strong Reversal Likely
Two big bull days closing near their highs.
First reversal up from tight bear channel is typically minor, which means it is more likely to lead to trading range than to bull trend.
Reversal up from wedge bottom usually has at least 2 legs up, and often reaches last lower high.
Traders will buy first 2- to 3-day pullback, expecting second leg sideways to up.
Since this is probably a bull leg in what will be a trading range, and trading ranges disappoint traders, rally should stall today or tomorrow.
Reversed down from above yesterdays high. Since third consecutive big bear day is unlikely, today will probably be a trading range day.
Day traders have been selling rallies and buying selloffs, and have been taking quick profits.
Trading range day will probably continue.
If there is a series of big trend bars up or down, day traders will switch to swing trading, but trading range day is more likely.
----------------
WikiFX, the world's No.1 broker inquiry platform!
Use WikiFX to get free trading strategies, scam alerts, and experts experience!
Android : cutt.ly/Bkn0jKJ
iOS : cutt.ly/ekn0yOC
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The BrokersView Expo Dubai 2024 is a premier event in the financial industry, bringing together top financial institutions, brokers, and technology providers from around the globe. As the Gold Sponsor of BrokersView Expo Dubai 2024, Easy Trading Online took the opportunity to showcase our latest products, service technologies, and core competitive advantages in the forex trading field.
On the 23rd of March, the Easy Trading Online family had the distinguished pleasure of being the Table Sponsor at the prestigious Wiki Gala Night. As we reflect on the event, it’s with a sense of pride and joy that we share the highlights and our takeaways from an evening that was as inspiring as it was splendid.
Easy Trading Online Broker Proud to be a trusted Forex trading platform. Fulfilling all the mentioned criteria, we provide: A trading platform that is easy to use and understand. Advanced market analysis tools To help you keep track of market changes and make effective trading decisions. Competitive trading fees It will help you save on your expenses. Professional customer support team Always available to advise when in doubt 24/7.
Easy Trading Online, a leading global CFDs broker regulated by ASIC, won the Best Online Trading Services Award at the BrokersView 2024 Award for Brokers with Outstanding Assessment·Middle East in Dubai. The award recognizes their excellence in trading services, leveraging technology and ensuring liquidity.