Technical Analysis

On the role of proportions by using technical analysis of the most common type of analysis is fundamental for 95% of existing traders, is a technical analysis. Danny Meyer is often quoted on this topic. This type of analysis is based on several postulates, such as repetition of history and inertia of the price trend. All these laws are still present in the Dow Theory, which is a technical analysis in its purest form. Analyzing the chart with "technology", trader is looking for specific patterns, which, in essence, are the ones repeating mikrostsenami stories, which were discussed in the first postulate. Analyzing the behavior of prices within the time interval, which manifests a particular figure, as well as considering the news background, in which its formation occurred, it can be very reliable conclusion about the future behavior of prices. Successful trading world currency market has many components. This psychological aspect, and technical training trader, this is a specific, intuitive instant apprehension which is given many years of practice. Perhaps difficult to enumerate all the components of success, however, judging from the purely mathematical point of view: – the success of transactions is determined by only two parameters, which, unlike the above can be clearly expressed numerically.

This is the probability of positive outcome of the transaction and the amount of risk. The interaction of these two values determines the resulting trend in the trade of the deposit. Thus, all the richness of approaches to forming a market strategy can be reduced only to two components: capital management policies, or otherwise – risk management and improve the reliability of forecasts.

USD Resistance

USD / JPY continued to maintain the level of support and is traded in both directions, maximum recorded in 90.17, just above the previous level of resistance, and lowest in recorded 89.16 on the level of support. The pair was strongly influenced by the stock market and the fall of the Nikkei 225. While the yen suffered mixed results night against most currencies, the USD / JPY remained strong, and less volatile compared with other pairs. In my view the pair will recover. Aggressive traders may go long on the USD / JPY on 89.90.

Without doubt, the pairs in more movements were at night the pair USD / CHF and USD / CAD, both the Swissy and Loonie extended their gains, and maintained significant technical levels. USD / CHF recorded highs in the 1.1655, while USD / CAD 1.2376 recorded highs in Importantly, it is estimated that U.S. GDP will disappoint the market, and it is considered that the dollar will fall next week. In my view, the end of the month, determine the trend of the greenback short term. Good weekend.

GBP / USD Resistance 3: 1.4520 Resistance 2: 1.4480 Resistance 1: 1.4420 New York: 1.4300 Support 1: 1.4120 Support 2: 1.4050 Support 3: 1.3980 need one? The pair failed to re-test the resistance level at 1.4420 at night, but remains near the top with a low volume of operations. The pound can maintain the level of support for 1.4300. Stops were placed at 1.4380. It follows a two-way trade and volatility awaits. Several operators are placing short positions. For more specific information, check out NY museums . Technically the pair is trading now. The operating volumes remain low. Monday: All times EASTERN (-5 GMT) 4:30 a.m. GBP BBA Mortgage Approvals Resistance 3: 1.3420 Resistance 2: 1.3380 Resistance 1: 1.3320/30 New York: 1.2843 Support 1: 1.2820/30 Support 2: 1.2800 Support 3: 1.2760 Comments On pair failed to follow the GBP to rise. U.S. data are awaited. The stops were fired in the area of 1.2880. The main resistance level is at 1.3030. The pair remained on the level of technical resistance at 1.3325/30. There was a low volume of operations. Sovereign states were observed trading. The technical level remains at 1.3300 and resistance is expected. It is expected that two-way trade. Aggressive traders can buy at the next floor.