Shooting Star Pattern Forms in GBP/AUD

A shooting star Japanese Candlestick pattern (bearish reversal) has formed on the GBP/AUD daily chart. The pattern appeared in the context of a strong uptrend dating back to September of 2017. From the close of yesterday’s candle, price has already dipped about 65 pips at the time of this writing. A confluence of bearish signals formed as … Read more

AUD/CAD Rallies to 11 Month Highs

AUD/CAD Daily Chart AUD/CAD reached fresh multi-month highs in early trading on Wednesday, reaching the highest levels since April of 2017. A Golden Cross pattern (bullish crossover of the 50 and 200 period simple moving averages) formed in late February, ushering in a sharp up move in price. The recent uptrend began in December of … Read more

Pin Bar on GBP/JPY H4 Chart

GBP/JPY H4 Chart A classic pin bar (reversal pattern) formed on the GBP/JPY chart. The long wick candle reaching up to prior support level of 1.4857 gave additional confirmation to the bearish signal. Price fell to find support at the 21 period exponential moving average (EMA) marked in red and is currently consolidating. GBP/JPY is … Read more

Forex Trading Leverage and Costs

Many people would like to trade for a living, but the biggest problem they face is a lack of capital. In order to make a living trading in the stock market, traders really need to plan on having an initial balance of at least $100,000. That’s possible for mid-career professionals and retirees, but an unlikely … Read more

Investing in the Chinese Yuan: Appreciation Imminent?

With the impressive economic growth in China, many investors are getting interested in owning Chinese currency, aka the Yuan (which translates as round coin) or Renminbi. The distinction between the two is that the Yuan is the actual unit of currency while the Renminbi is name of the Chinese currency. A good comparison would be … Read more