It might be overbought in a shorter time frame, but what caught my eye was the divergence on the Monthly chart in relation to its previous lows in 91,93,95. My target is 1.6000
I am not looking to trade it, I am more interested in riding this possible trend, and earning interest on my long position. Long at 1.2634, 1.2714, 1.2687.
Where is the least risk and the most reward? Stocks? Commodities? currencies? Ahh yes the ole greenback. Thats where the next strong trend is most likely to occur IMO.
Stocks are overpriced, commodities are stretched like a rubber band. The Fed will start a rate increase cycle very soon. Everyone says the dollar is going lower hummmm. I think I will start building a long position in the dollar. USD/CHF tracks the dollar index very well, I think I will start...
I have had success using a five minute chart with a 50 period weighted moving average. Trading in the direction of the slope of the moving average, and using a stoch RSI to nail down entry and exits. I use CMS Forex because I like being able to trade directly from the chart, I do not like having...
I don't understand why so many traders trade with their nose pressed up against the glass, fighting for crumbs. The real money is made by stepping back and looking at the bigger picture. I guess it must have something to do with ones account size.
Weekly chart of EUR/USD.