Gold Hovers at Major Support Ahead of NFP

Gold showed little reaction to Wednesday’s as-expected FOMC Statement, ending the day marginally lower. The Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent and upgraded its assessment of the U.S. economy to ‘strong’. The downtrend in gold began in April 2018 and price … Read more

Understanding Support and Resistance

Two terms you hear a lot about are support and resistance. Basically, they are points on a chart where the probabilities favor at least a temporary halt in the prevailing trend.

How to use the MACD

This video from FXStreet explains how to use the MACD, one of the most popular indicators to identify trade opportunities in the forex market. MACD is great at identifying change because it compares what is happening right now to what was happening a little while ago. MACD shows you when there is a change in the … Read more

Five Fibonacci Tricks

Fibonacci jumped into the technical mainstream late in the bull market. Futures traders had it all to themselves until real-time software ported it over to the equity markets.