Trading news

GBPUSD – prognosis via Dow Theory for calendar week 42/2015

Weekly chart:

In the big picture, we have a valid downtrend, which is already back in the correction once more. The correction zone is indicated by the red rectangle. As long as the closing price does not overcome this zone, then the market still has a chance of the picking up the downtrend again at any point in time.

Chart1

Daily chart:

In this trend size we can also see a valid downtrend, which is already deep into the correction zone. The latter’s upper limit is located at 1.5558$. Today’s trading day could signify the end of the correction, meaning that the market may pick up its downtrend once more.

Chart2

Hourly chart:

The current correction from the daily chart is appearing as an uptrend in the hourly chart. In order to receive an adequate trading signal here, a downtrend must be present in the hourly chart. Then we would be on the move in the direction of the primary trend once again, which would significantly increase the likelihood of a good trade.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Thursday, 15 Oct, 2015 / 11:35

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