Daily chart: The GBP/USD had a fall to the support level at 1.6326. Now, this pair will try to break that level and if successful, would be expected to fall to the level of 1.6235, which is not very likely, because the GBP/USD remains very strong in the bullish trend and any order against the trend could be dangerous. However, it is quite possible that this pair make a bullish rebound at current levels and up to the level of 1.6447. The MACD indicator is entering extreme overbought zone and in neutral territory.
H4 chart: This pair broke the bullish trend line and now this is forming a higher low pattern below that trend line. It is very likely that this pair fall to the support level of 1.6262. On the other hand, you should wait for this pair make a breakout at the support level to put sell orders. Otherwise, one would have to wait for the GBP/USD is consolidated over again bullish trend line near 1.6370 level. The MACD indicator is still in negative territory.
Question by jimulik: Has anybody out there tried Forex trading ?
Does it require special training or purchasing expensive software.
Can I make money in Forex trading ?
Answer by Paul E
Forex trading does require education, if you are experienced with trading shares or commodities it might help you already knowing the basics.
Like any market trading it requires education practise and Capital.
Yes you can make heaps of money as the forex market trades over 3 Trillion dollars daily. but realise that like any other profession it will take several years to really master.
i recommend starting at babypips.com
Give your answer to this question below!
Question by Jose G: How might a person in Mexico spend his or her money?
How much money does the average family make? Whats the average income for the household? How do they spend their money and in what?
Answer by prguntona
i dont know the average income, but like in this country there’s all income levels, even though there’s more poor people than wealthy, and they spend their money like everybody else essentialls first then wants or luxuries
Know better? Leave your own answer in the comments!
Daily chart: Finally, the USDX managed to break the support level of 80.62, which could be a clear indication that the USDX start a strong bearish trend which could extend for a few weeks, even to the end of the year. On the other hand, USDX is expected to start forming a higher low pattern above the support level of 80.11. If the USDX manages to break this support level, would be expected to fall to the level of 79.19. The MACD indicator is still in negative territory.
H4 chart: The USDX went off the low range and now the USDX is consolidating below resistance at 80.49 levels and below the 200 SMA, with the formation of a higher low pattern. If the USDX manages to break the support level at 80.06, it’s expected to fall to the level of 79.63. On the other hand, if the USDX manages to break the resistance at the 80.49 level, it is expected to rise to the level of 80.65. The MACD indicator is still in negative territory.