A look at Dollar Index DXY, EURUSD, AUDUSD, NZDUSD, GBPUSD, WTI and XAUUSD. A common theme - a turning point could be showing up soon seeing how these pairs might be at support.
A EURUSD illustration of the choices forex traders got to make prior to a highly anticipated high impact news - which one will you pick? Do you have a consistent approach? Which choice delivers better performance over time?
There is a a big 300-pip space below the current EURUSD price pattern until the next most-looked-for potential support. This might or might not happen but could be really rewarding for EURUSD shorts if it does.
AUD and NZD pairs show recurring, high probability levels on weekly charts, and have a lot of significance because of duration and number of hits.
DXY bulls are happy as long as the index stays above this prominent 2-year support. Bears however have their signal. It is now a matter of time while the index does it's usual zig zag before the inevitable happens. The signal for DXY to go lower in 2018 is already in place.
Busting 3 myths about automated trading: 1) that automated trading is not emotional 2) that it is set and forget 3) that automated trading is too technical.
4 moving average overlay on weekly chart shows DXY on downtrend over 3-6 months. Going long is a contrarian move that has to fight many resistance levels.