Terrific trend on the EUR/AUD this morning

by harrybertieqt2013 Comment Closed
Terrific Trend on the EUR/AUD This Morning A terrific trend unfolded on EUR/AUD this morning. This cross pair delivered strong momentum. Price moved steadily higher. The London session amplified it. Traders spotted clear opportunities. In this morning's forex trading session with Anna and David, one of the currency pairs they focused on was the EUR/AUD, which was the strongest-performing currency pair in the currency matrix. The 60-minute currency strength indicator confirmed the longer-term position, with the euro (the orange line) climbing strongly towards the overbought region on the indicator, with the Aussie dollar ( the blue line) moving firmly towards the oversold region in this timeframe. The 5-minute chart alongside reflects the trend, with the trend monitor maintaining the bullish picture, and only moving into a transitional colour during the minor congestion periods. The trend monitor sister indicator, the trend dots, completes the picture and highlights these congestion phases in advance. Volumes throughout the move were in agreement and confirming the bullish sentiment for...
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Forex currency strength indicator explained

by harrybertieqt2013 Comment Closed
Question Hi Anna, Firstly, I just wanted to say I've just finished "Forex For Beginners" and I thoroughly enjoyed the book; I found it extremely helpful and useful. Opened my first forex account on Friday of last week. Made some mistakes at first, lacked the discipline to follow my strategy, I think I was a tad over-keen to trade at first. I've just purchased "A Complete Guide to VPA" so I'll start on that tonight. I have a quick question though if you wouldn't mind answering. In Forex for Beginners, you use the Currency Strength Indicator to look for potential indicators of an upcoming reversal. And then from this, you use the currency matrix and analysis to confirm the reversal. I was just wondering if you could use the same strategy to indicate a continuing trend? If this is explained in the book I've just purchased I apologise, I just thought I'd ask. For Example For example, if both the Aus and Usd are...
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