Go Back   DailyFX Forex Forum | FX Forum
Reload this Page Sidebar Wrapper

Thread: Post of the Day
View Single Post
  #317 (permalink)  
Old 09-23-2009, 12:32 PM
Richard Krivo's Avatar
Richard Krivo Richard Krivo is offline
DailyFX Power Course Instructor
  
Join Date: Apr 2008
Posts: 568
Richard Krivo is an unknown quantity at this point
Quote:
Originally Posted by lissyking View Post
Hey Richard,
Do you believe this currency pair is in a range bound? What will be your comments about this pair?
Thanks
Kingsley
Thanks for your question on this topic.

Take a look at the chart below for a visual...

To make a determination if a pair is ranging or trending, I like to consult the Daily chart first. While the pair may demonstrate some range-like tendencies in lower time frame charts, the Daily will provide a more detailed and compelling overview.

That being said, since the pair has been building higher highs and higher lows on the Daily for quite some time, it can be said that the pair is in an uptrend.
Attached Thumbnails
post-day-chart-9-23-01.jpg  

__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Reply With Quote
 


Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

All times are GMT -5. The time now is 08:05 AM.
Copyright ©2009 Daily FX. All Rights Reserved.