Dual Cross Over Method Signals Buy for Spot Crude Oil
AUD/USD: This pair's sustained upward movement has finally pushed its price into the over-bought territory on the 8-hour chart's RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.
Last week’s bullish movement of the EUR/AUD cross hasn’t received much support as of late. Below, I will demonstrate that the EUR/AUD pair has already commenced a downward trend for today, and the cross may tumble another 40-110 pips in the coming days. Traders are strongly advised to take advantage of the trend at an [...]
NZD/USD: After the recent sharp drop a correction may be taking place today as the RSI seems to be floating in the oversold territory on the hourly and 8 hour charts and a bullish cross is evident on the 4 hour chart's Slow Stochastic. Forex traders may be advised to go long for the day.
AUD/USD: This pair's sustained upward movement has finally pushed its price into the over-bought territory on the daily chart's RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short to ride out the impending wave.
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