The Trading Pit
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The Trading Pit Week Ahead Market Outlook (February 12 – February 18)📊🟣AUDUSD,Daily:The 50-period moving average crossed below the 200-period moving average, a bearish indication. The MACD is trading below the zero line, which is also a bearish indication. If the #price moves upwards, the first resistance area, R1, is an inside weekly resistance, approximately 0.65514. Conversely, if the price declines and moves lower, the first support area, S1, is around the 0.64524 level. A break below it can find the support, S2, approximately 0.63473.🟣EURUSD, Daily:Following the break and close below the 200-period moving average, the Bearish Engulfing candle forced the price to shift to the downside last Monday, as expected. Since then, the price tested the S1 support around 1.07238 and bounced upwards, and over the previous four trading days, the price traded between the high and the low of Tuesday’s candle. 🟣GBPUSD, Daily:Following the range created in the last couple of months, the price broke outside the range to the downside, as we explained in last week’s analysis, and created a lower low, as seen in the chart above. After the breakout, the sellers didn’t push the price below 1.255. Since the 1.25 area is vital, we expect intense trading activity. Therefore, the price found support and moved upwards. Consequently, the price returned inside the #Bollinger bands and still traded below the 20-period moving average. Read More on our Blog 👉 https://lnkd.in/dakMJQd9#thetradingpit #trading #market #marketoutlook #dailynews #gbpusd #eurusd
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Martin Zarian
Full-Stack Brand Builder: Engineering Ambitious Transformations | Strategy & Activation | B2B, SaaS, MedTech
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That purple...❤️
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Alex Skliarov
Payments Processing Magician | Boosting Acceptance Rate by 30% at Solidgate
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The Trading Pit it definitely should be used by CFD challengers!
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