By - Jamel Lahiani
The US Dollar is ranging: Sell at overbought and buy at oversold.
The Dow Jones is trending quite: Buy.
Today our analysis will be concerned with EURUSD and Dow Jones:
The most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.
Dow Jones: The Dow Jones Industrial Average, or simply the Dow, is a stock market index that indicates the value of 30 large, publicly owned companies based in the United States, and how they have traded in the stock market during various periods of time. It is often used as a barometer for the overall performance of the country’s equity markets.
GRAPHIC 1: EURUSD 1 HOUR PRICE CHART (JULY 15, 2019)
The EURUSD is ranging between the Thursday high level of 1.12857 and the Wednesday low level of 1.12383. There is no new information. A good strategy can be to buy at oversold and sell at overbought. We can also buy when the chart beak the line of resistance in red and close to the upside or sell when the chart beak the line of support in green and close to the downside.
GRAPHIC 2: DOW JONES 1 HOUR PRICE CHART (JULY 15, 2019)
The Dow Jones is trending quite for the last three days. The chart is increasing belong the moving average 14 in red. The support line in green has a nice increase. We can see the increase of the support line in green. This increase is explained by a firms expectations for an interest-rate cut from the Federal Reserve which continued to propel shares while investors awaited next week’s kickoff of the corporate earnings season. A good strategy can be long at this line. If the chart breaks the support line and close to the downside, we can expect a reversal of the trend, a short entry will be profitable.
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