logo |

News

    Home   >     Industry    >     Main body

    EUR/USD: Strong Reversal Likely

    Abstract:EUR/USD: Strong Reversal Likely

      

    kk.jpg

      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.

    67.PNG
    Overnight EUR/USD Forex trading on 5-minute chart

      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

        7785.PNG

    Latest News

    United Arab Emirates Dirham

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United Arab Emirates Dirham
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.