A rather rough bullish pennant pattern has formed on the 4-hour chart of the USD/JPY currency pair. The pair’s rally started on June 14 following a new monthly low. It has managed to set up a new higher high and then entered a consolidation that seems like a valid bullish pennant formation, which suggests a continuation of an upward trend after an upside breakout. The pennant is shown with the yellow lines on the chart screenshot […]
Read moreAfter falling to its June 14 low, the USD/CAD currency pair began rising slowly, forming a perfect ascending channel pattern on its four-hour chart. A bearish breakout from this pattern would imply a continuation of the previous strong downtrend of the US dollar against the loonie. The channel is marked with the yellow borders on the image below. The cyan line is my entry trigger, which is placed at 10% of the channel’s width below […]
Read moreOnly three brokers have some changes to report on since the time of the previous brokers update post: FXTM now accepts deposits in Bitcoin. HYCM added trading in BTC/USD and deposits via Neteller. Profiforex began accepting US traders. Launched Arabic version of its website. Maximum leverage available to Micro-account holders on stocks, gold & silver trading instruments (CFDs) has been reduced from 1:500 to 1:100. If you […]
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