Forex Technical Analysis, Engulfing and Doji

Posted by on Mar 13, 2013

By David Ruscelli

This post in italian

Tomorrow we could have moderate volatility due to the conference with the Central Bank governor, Wheeler, which could trigger volatility for the New Zealand Dollar, and also following the release of data pertaining to unemployment in Australia and the USA. Forecasts are slightly negative, which indicates that there will be some type of shaking in case the actual data is far off what was originally anticipated.





In this graph we are seeing that yesterday there was a typical signal of technical analysis doji, with the upper shadow at fakey of the resistance at 0,8750, it was an excellent trade for a correction against trend even up to 0,8630, which is the first support.


 eur gbp d1 forex trading



Over the famed kiwi, the currency of New Zealand quoted in US dollars, we show an engulfing pattern short, that is to say a candlestick which breaks through the top of the preceding one and then absorbs it, engulfing it, in such cases we should look for an entry in favor of the strongest candlestick, an entry of retracement or probable temporary retracement which often shows up the day after the signal itself.  

If this does not happen, we will see it decrease and possibly get close to the value of the support underneath it, between 0,8100 and 0,8000.


 kiwi d1 trading


This is all for today, I thank you for your attention and remember that to trade in a relaxed, organized and profitable way, our non-directional mathematical strategy is available to you.

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