Featured Articles

Filter By Topic
Baxia Markets
By
August 09, 2021

EURUSD Meets Support 08/09/21

technical analysis top header -01

 

A big crash took place on Aug 4th, driving the price down by 1.33% in two days. That was no doubt a shock to most traders. The price crashed with a steep slope; the price line broke out the lower Bollinger Bands twice. Now, the price moves inside the Bollinger Bands. Will the crash continue?

 

eurusd0809

 

The price was pushed back a little by the lower Bollinger Bands; as we know, the Bollinger Bands usually pushes the price line towards the middle, so the price may get support here. Bollinger Bands are not strong enough; we do have something else. The standard deviation still stands high, which means the fluctuation has not ended yet. The Williams R% has been oversold since the crash began, and now it has not recovered yet, but the unstable situation may end. Besides, the stochastics have already recovered from being oversold.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

Open Live Account  

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

trading conditions, technical analysis, trading indicator

Subscribe by Email