EURUSD Halts Weakness, Eyes Further Upside

EURUSD faces risk of further move higher having rallied of its lows the past week. Resistance comes in at the 1.0900 where a break will turn risk to the 1.0950 level. A breach below here will target the 1.1000 level. Further up, resistance stands at the 1.1050. Conversely, on the downside, support comes in at 1.0800 level with a violation of there opening the door for further gain towards the 1.0750 level. Further down, resistance lies at the 1.0700 level. A cut through that level will clear the way for a move towards the 1.0600 level. All in all, EURUSD looks for more recovery.


Inspired from,

Time is the most important factor in determining market movements and by studying past price records you will be able to prove to yourself history does repeat and by knowing the past you can tell the future. There is a definite relation between price and time. -William Delbert Gann


Using Japanese Candlestick Patterns in Profitable Pattern Scanner

Using Japanese Candlestick Patterns in Profitable Pattern Scanner

Profitable Pattern Scanner is the powerful pattern trading system with highly engineered functionality. Properly used, this tool can yield excellent trading results. One of the trading system built inside Profitable Pattern Scanner is Japanese candlestick patterns. Profitable Pattern Scanner can detect around 52 different Japanese candlestick patterns. They are categorized under five categories including one, two, three, four and five candlestick patterns.

To use Japanese candlestick patterns, you have to enable the candlestick pattern from Profitable Pattern Scanner. See the attached screenshot for the purpose. Then you can switch on and off the individual category of patterns according to your preferences. For example, you can only use two and three candlestick patterns if you wish.

Cash management in trading with BitMEX

It is dangerous to make a leverage trade of currency pairs other than XBTUSD in BitMEX.

The recommended currency pair for using BTC Trend Trader is BTCUSD (XBTUSD). This article describes trading with XBTUSD.

In BitMEX, the volume of XBTUSD is very high, and you can trade at a price close to the average value of bitcoin prices on other exchanges. In Bitcoin trading, it is probably the most reliable exchange in the world.

As an aside, currency pairs other than XBTUSD may have a sharp price move due to the low volume. For this reason, trading of currency pairs other than XBTUSD may lose all margin when leveraged. For example, at 23:00 on February 13, 2020, the price of XRPUSD could drop to less than half in an instant and return to its original price in less than a minute. Be careful with leveraged trades other than XBTUSD.

Forex and Cryptocurrency Forecast for February 24 – 28, 2020

First, a review of last week’s events:

– EUR/USD. The dollar index has already gained 2.5% since the beginning of February, reaching the highest since May 2017. The euro continues to lose ground. Beginning on January 01, the advance of the dollar has weakened the European currency by 440 points. It has lost almost 300 points, or 2.7%, in the last three weeks of continuous decline alone.

Experts have managed to put forward many reasons for what is going on during this time, most often referring to fears about the coronavirus. But even here, when they talk about the same thing, they manage to draw opposite conclusions. As a result, some attribute the dollar to safe-haven currencies, while others, on the contrary, consider it a rather risky asset that will bring losses to investors as soon as the peak of the epidemic is passed and the Chinese economy begins to recover. It is quite possible that this will start to take place in the near future, since the Chinese leadership is applying ef