Trading Support and Resistance - DailyForex.com
Trading Support and Resistance - DailyForex.com |
Trading Support and Resistance - DailyForex.com Posted: 30 May 2021 02:47 AM PDT Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of May 31, 2021. Advertisement This week we will begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 18 years of Forex prices, which show that the following methodologies have all produced profitable results: Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies: Monthly Forecast June 2021For the month of June, we again forecast that the USD/CAD currency pair will fall in value, and the CAD/JPY currency cross will rise in value. For the month of May, we made this same forecast. The performance so far has been nicely positive: Weekly Forecast 30th May 2021Last week, we forecasted that the EUR/NOK currency cross was likely to fall in value. Unfortunately, it rose very slightly, by 0.03%. We make no weekly forecast this week, as there were no large counter-trend price movements in any important currency pairs or crosses. The Forex market showed a slight decrease in its level of volatility last week, with 19% of the important currency pairs and crosses again moving by more than 1% in value. Volatility is likely to remain at a similar level over the coming week. Last week was dominated by relative strength in the New Zealand dollar, and relative weakness in the Japanese yen. You can trade our forecasts in a real or demo Forex brokerage account. Previous Monthly ForecastsYou can view the results of our previous monthly forecasts here. Key Support/Resistance Levels for Popular PairsWe teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that can be watched on the more popular currency pairs this week. That is all for this week. You can trade our forecasts in a real or demo Forex brokerage account to test the strategies and strengthen your self-confidence before investing real funds. |
Top 7 Effective Tips to Find Trusted Forex Brokerage - Detroit Metro Times Posted: 18 May 2021 12:00 AM PDT ![]() We welcome readers to submit letters regarding articles and content in Detroit Metro Times. Letters should be a minimum of 150 words, refer to content that has appeared on Detroit Metro Times, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space. Email us at letters@metrotimes.com. |
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