The strong USD holding above the 95.05 - 96.50 - 97.10 currently at simply gives the FED some incentives to continue its intended rate hike for the year. But then again, before this happens will provide stock secular bulls to take this rally further for as long as they could against others in the back-drop that has been calling for a major correction of 15%.
NOTE: That the prices came from a consolidation period, that also signified a widening price range that it has established. Hence a simple approach to combine with Price action analysis, is a disjoint angle of projecting a high is based on the declining trajectory line of the lower band. At certain times, unconventional trading rules works during certain market conditions. Yet, prices did marked above 18500 before it occurred.
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#TSOT - TOP STRATEGIES ON TRADE BY MEGATRADE101
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Meanwhile, the Euro retest below the 1.1000 and with Cable back towards the 1.3100 levels are still heavily bias on negative territory. Both CCY pairs opening slightly higher at the Asia session last Monday were merely a corrective move. As we mentioned that these corrections seen even with stocks are 'Healthy' market signals that such directions are still on course.
By knowing the right technical tool to apply in a given market condition, Price action is well supported. in this case of a disjoint angles; the key is knowing were such focal point of reference to place it is important before one can project its price direction.
ReplyDeleteThere are no short cuts, for as long as volume & momentum are on the right of your trade with these two (2) methods of analysis, then you're on the right track!
Thanks for the inquiry Trader XYZ!
ON THE CCY CORNER: There were valid reasons why we have chosen both the AUSSIE & KIWI, nearing the new month of trading activity in August. The percentage of these two pairs are remarkably showing ideal signals then among the rest of the pack. A pivotal price point has been established and a potential move is in the making
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