How to increase your foreign exchange trading profits.
Euro Dollar сurrency pair is in a short growing trend at Forex. If you look at the daily chart of this pair, it will be seen that during last two days Euro has grown in relation to the US dollar. Although the couple, in a global sense, is in a downtrend, the short-term speculation on the difference in rates is reasonable. We put small target in 85 points, as this currency pair does not possess large-scale changes in the price, and is not in a long growing trend. But traders, specializing in intraday trading or scalpers, will taste it. Yes, for big investors such a small movement may be not interesting, but for other participants of currency speculation this is a rare and good opportunity for trading. So, we wait and watch for the price, and if it continues to rise, go long.
The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Buy
• The level of entry into long position: 1.0615
• The level of profit and close the position: 1.0700 (85 pips)
Precious metal GOLD
Possible bullish movement in the breakout of the resistance level 1185
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.2430
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 1.0080
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 115.00
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