Learn Trading - Forex Update: USD Pair Review and Bank Holiday



To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=learn_trading&ad=FKRVYPPMH6A Let’s take Fibonacci just a touch differently. Let’s take it and let me get it selected here, and move it down to this low. So, that’s interesting because now the .618 sits at 0.7600 just at the top of our purple-shaded area. So, moving Fibonacci just to that next little high right here, still leaving it on the same low puts the .618 here. So, all that’s telling us is that this purple-shaded area is being confirmed by Fibonacci as a resistance. It needs to break through it if it’s going to go to the next resistance, which is the orange zone. So, be cautious about buying it till it breaks the purple zone or dips to the yellow zone. Otherwise, potential opportunity here for resistance and reversal for the AUDUSD. And lastly, NZDUSD. Not a whole lot different here. We see a pattern here. We’ve been selling underneath the blue trend line for several weeks, making profit on the way down. It’s made some headway higher. Take a look at this orange zone and back here, where the black box is. This is what I want to show you. Look at this little, tiny black box just in the rising black trend line. Fifth day it broke out, so four days resistance here. So, I make mention of that. In fact, I could just take the black box and draw it over here because you could see that’s where we are right now. So, if it’s going to go higher, what does it need to do? Just look at the black box. It needs to break the orange-shaded area. So, if you’re looking to buy, it needs to get above 0.7025 if it’s going to go higher. Let’s go ahead and zoom it in one more time. It needs to get above here if it’s going to go higher towards the blue-shaded area. If it doesn’t get above the orange-shaded area and we suddenly see reversal back underneath 0.7500, we could be looking for the return of what was the downtrend. So, it needs to break here to go higher. Otherwise, resistance and reversal could be an opportunity. If you’re a buyer, you either wait for it to break 0.7025 or dip back down to support, which is the pink-shaded area. If you’re a seller, you’re watching for evidence of resistance and reversal. One simple fib. Let’s just take from this high, down to this low. One simple fib puts the .618 Fibonacci retracement level just at the top of our orange-shaded area. So, again, a break of the .618 of this last downtrend, we look for it to go to the blue zone, but it needs to break there before we can have confidence in that for the NZDUSD this week. https://www.youtube.com/watch?v=FKRVYPPMH6A Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.

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Duration: 15m 37s

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