Forex trading price action analysis

Posted by on Aug 22, 2012

By David Ruscelli


This post in italian

Technical analysis of forex markets with price action strategy.

After many days, at last we get moving! I like to see markets move, nice today, very good, we gained profits both with price action silver long order we’ve seen in the yesterday’s post and non-directional trading strategy.

More informations about non-directional trading strategy here.

 

XAG/USD

Who traded long on silver now is about 50 pips profits, I suggest to move stop loss at break even, for more info about stop loss and break even in the forex trading manual blog section there’s a post teach you what you need to know about. Article about break even is here.

 

XAG/USD D1

 

XAU/USD

Gold is classically correlated on silver, today it moved in the same way and break with a lot of power 1620. We’re going towards about 1670.

XAU/USD D1

 

USDOLLARINDEX

This index show dollar strenght against other currencies, it will be very important monitor it in the next few hours. There’s an important support at 10.000, it could bounce or break with power, this behaviour will reflect automatically on other currencies and commodities US dollar correlated.

USD INDEX D1

 

 

EUR/USD

Eur break out with power key level 1,2430, I see next resistance at 1,2550 and 1,2650.

As we know recently the markets are very choppy, most of all eur agains us dollar, as we’ve seen us dollar index is near to an important key level and it could get a short temporary bounce on EUR/USD and other couples with us dollar as numerator or quote currency. 

EUR/USD D1

 

That’s all for today, have a good trading!

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