The GER30 is showing resilience and is outperforming the US risk markets.
FXCM's dollar basket, the USDOLLAR, has charted another higher trough followed by a higher peak in its series. This pattern is a continuation of the greenback's uptrend. We also note that the weekly stochastic has turned up – we are interested in seeing if it hits the 80+ region and holds (green rectangle). The underlying momentum will suggest further upside for the buck if it does. This strength comes before…
Immediate overhead resistance is currently keeping the dollar in check.
The cup with handle pattern foreshadows an upward price continuation following market hesitation, and a test toward a possible downward move.
Dark cloud cover is a Japanese candlestick charting pattern that aids technical traders in identifying the exhaustion of bullish price action.
A doji is a candlestick with a closing price very near to its opening price. It is unique to other candlesticks because its body is very small or nonexistent.
The morning star chart pattern is a convenient way to spot an upward reversal and a subsequent bullish trend without a complex set of technical indicators.
Pipe bottoms and pipe tops provide the trader an indication that a prevailing trend may continue or may be coming to end.
Technical analysts can use simple geometric patterns such as triangle chart patterns to unveil signals that can indicate where the market could go next.
Among visual chart patterns, the head and shoulders pattern has gained status among the most reliable predictors of future price action.
Among visual indicators, the double top and double bottom are considered amongst the most convenient and reliable for trying to predict a turnaround in price tendencies.
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