Bear flag patterns are technical chart formations that signal the continuation of a downtrend in the forex market. These patterns are commonly used by traders to identify potential entry points for short positions, allowing them to capitalize on the...
The Commodity Channel Index (CCI) is a versatile technical analysis tool used in forex trading to identify cyclical trends in currency prices. Developed by Donald Lambert in 1980, the CCI measures the deviation of an asset's price from its...
GBP/USD Technical Analysis This week, the price trades within two channels, one of which is bearish, colored red and represents the price movement during the previous week, considered a bearish corrective movement. This means that we have a blue...
The pair has been reducing near 1.2630 during the US session on Wednesday. This consolidation occurs within an ascending channel pattern on the daily chart. The 14-day Relative Strength Index (RSI) sits above the 50 level, indicating a bullish bias....
In the early hours of trading on Wednesday, the euro retreated again, testing the 1.0680 level that has acted as support for several consecutive days and could return to 1.06, a support zone, if the euro falls below this threshold strong. This means...