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Abstract:WikiFX| Daily F.X. Analysis, Sept 24 |Arslan Ali Butt-KOL
[About The Author]
Arslan Ali Butt has been working in Forex market since 2013.
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Research In Investors Psychology
Cognitive Heuristics & Emotional Biases in Traders Decision Making
Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.
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Gold is strongly bearish due to the USD’s appreciation. It’s traded at $1,852 level, right below $1,864 former low signaling a massive pressure. Yesterday’s major drop from $1,900.20 to $1,855 confirms a deeper corrective phase.
The overall market bias sentiment is strongly bearish, price has shot down past the main level of low handle price range for the trading month of August and looking at the assigned charts posted below on the daily charts, we should expect long extended sell off as market participants are looking to pivot around the 200 MA.
In the last five years, brokers originally from South Africa have not received the greatest reception. While there are plenty of international brokers for South Africans, many clients have been looking for brokers closer to home. There are almost countless legit firms internationally that are used by South Africans.
The pair could be facing a bit of correction or sell-off by the sellers as the buyers been in a fatigue kind of trading mode as we see exhaustion on the current structure especially the last one and half week or so as you can view small green candles with upper wicks being equal to the size of the main body and to some others abet elongated or longer than the main body and in addition to that, round about price handle level 0.96405 area acting really strong resistance ceiling having being tested now four times.