Stock index S&P 500 continue to move as part of the growth and the formation of the next “Triangle” pattern. At the time of the publication of the forecast, the index is trading at the level of 3612. At the moment, we should expect an attempt to develop a correction and test the support level near the 3515 area. Where can we expect a rebound and a continued rise in the S&P 500 quotes to the area above the 3815 level. S&P 500 Forecast and Analysis November 17, 2020 An additional signal in favor of the growth of the stock…
Author: forex24pro
forex24pro
I trade in the foreign exchange market, and also invest in cryptocurrencies. I am 35 years old. Trade experience is 12 years. In trade, I use several unique trading systems, as well as simple tools for technical analysis. I plan to write my own book on trading.
Every trader is a trend hunter. They look in the tune of the market and carefully analyze all the upbeats and low beats to find a way to join the song. The Forex market has introduced different instruments to enable investors to comprehend and to explain market behavior. Among all these instruments, price charts are regarded the best. Those are the main focus of various technical analyses. They explain the price movement in terms of it. How to Recognize Uptrends and Downtrends A trend is usually the representation of different phases of the index movement. As long as, any of…
Currency pair Euro Dollar EUR/USD completes the trading week near the 1.1820 area. The pair continues to move within the framework of the growth and the rising channel. Moving averages indicate a bullish trend for the pair. Prices again bounced off the area between the signal lines, which indicates pressure from buyers of the European currency and the likely continuation of growth from the current levels. At the moment, we should expect an attempt to develop a fall and a test of the support area near the level of 1.1695. Where is the rebound and continued growth expected from the…
BRENT finish the trading week near the area of $ 43.05 per barrel. And it continues to move within the framework of strong growth and a downward channel. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines again, which indicates pressure from sellers of raw materials and a potential continuation of the decline. At the moment, we should expect an attempt to develop a fall and a test of the support area near the level of 39.25. Then, a rebound and continued growth of oil to the area above the level of $ 65.05…
Currency pair Pound Dollar GBP/USD completes the trading week near the 1.3177 area. The pair continues to move within the framework of growth. Moving averages indicate a bullish trend. Prices moved up from the area between the signal lines, indicating pressure from buyers and a potential continuation of the rise in the British Pound against the US Dollar at current levels. At this point, we should expect an attempt to grow and test the resistance area near the level of 1.3335. Further, the rebound and the beginning of the fall in the Pound/Dollar quotes to the area below the level…
Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 77.55 Rubles per US Dollar. The pair continues to move within the framework of the growth and the rising channel. Moving averages indicate a bullish trend. Prices pushed up from the area between the signal lines, which indicates pressure from US dollar buyers. In the current trading week, November 16 — 20, 2020 we should expect an attempt to develop growth and test the resistance area near the level of 79.55. Where can we expect a rebound and the beginning of a fall in…
Currency pair Australian Dollar to US Dollar AUD/USD ends the trading week near the 0.7251 area. The pair continues to move within the correction and the formation of the “Head and Shoulders” reversal pattern. Moving averages indicate a bullish trend. Prices bounced off the area between the signal lines, which indicates pressure from buyers of the asset and a potential continued growth in the value of the currency pair. At the moment, we should expect an attempt to continue the development of growth and test the resistance area near the level of 0.7295. Then, the rebound and the continuation of…
The pair Canadian Dollar to US Dollar USD/CAD ends the trading week near the level of 1.3122. The pair continues to move as part of the correction and the formation of the “Double Bottom” reversal pattern. Moving averages indicate a bearish trend. Prices have moved down from the area between the signal lines, which indicates pressure from sellers of the currency pair and a potential continuation of the fall. expect an attempt to develop a decline and test the support level near the 1.3055 area, then continue the growth of quotations with a target above 1.3675. USD/CAD Forecast and Analysis…
Quotes of the pair USD/JPY US Dollar to Japanese Yen end the trading week near the 104.95 area. The pair continues to move within the fall and the downtrend channel. Moving averages indicate a bearish trend. Prices moved down from the area between the signal lines, which indicates pressure from the US dollar sellers and a potential continuation of the fall. At the moment, we should expect an attempt to develop a fall and a test of the support level near the 103.75 area. Then, the rebound and the continuation of the rise of the pair to the area above…
GOLD is completing the trading week near the 1878 area. XAU/USD quotes continue to move within the correction and the ascending channel. Moving averages indicate a bullish trend for Gold. Prices are testing the area between the signal lines again, which indicates pressure from buyers and a potential continuation of the upward trend. At the moment, we should expect an attempt to develop a price decline and test the support level near the 1860 area. Further, the GOLD price will continue to rise with a potential target above the level of 2165. GOLD Price Forecast and Analysis November 16 —…