Fundamental view: EU Economic Forecasts report of the last week at 7th July 2020 and US Crude Oil Inventories at 8th July acted as a catalyst for the downtrend move for dollar and created a bullish move for the pair whereas USD Unemployment Claims at 9th July created bearish move. The increasing cases of Covid [...]
Camarilla Pivots is a math-based price action analysis tool that generates potential support and resistance levels, similar to pivot points, using the previous day’s high price, low price and closing price.
Earlier, the U.S. dollar experienced weakness but the scenarios reversed as the market mood was positive following the release of better-than-expected U.S. Initial Jobless Claims. The Initial Jobless Claims report showed that 1.31 million Americans filed for unemployment benefits in a week. Meanwhile, Continuing Jobless Claims dropped to 18.1 million as some workers managed to [...]
False breakout trading strategy allows the traders to trade horizontal support and resistance levels when price makes a breakout only to fail later. False Breakouts Happen and We need to identify them : At times, when the price will break a support and resistance level on chart this level in broken. It was just a price [...]
