Easy ways on how to make money in the foreign exchange market.
Today, our attention was attracted by the pair Euro-Dollar. Given that at the forex market US dollar began to grow against many currencies , we can assume that and it also strengthened against the Euro. If you look at the chart of the currency pair in the daily, weekly time period, it is clear that there is no next level of support that can serve as a good sign for sale for currency traders and big investors that are configured as the bears. The currency pair is known for its popular and low spreads on forex. It can be called the most popular trading tool among Forex traders. Multi-million volume of sales and purchases made every second on this trading instrument, thus it allows the trader to trade in liquid markets without slippage and delays, because there is always a buyer for your sale. These characteristics make this currency pair very attractive for short-term trading within the day and scalping. The target of the 100-point is beyond fast trading, and nevertheless, is a good result for many investors. Therefore, if the market will move further down, we join the bears.
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
If the support level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Sell
• The level of entry into short position: 1.0365
• The level of profit and close the position: 1.0265 (100 pips)
Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2300
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 1.0350
Possible bearish movement in the breakdown of the support level 1222
Forex currency pair USDJPY
Possible bullish movement in the breakout of the resistance level 118.70
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