FOREX TRADING 101: A COMPREHENSIVE GUIDE FOR BEGINNERS by Umeano Tochukwu

Author:Umeano, Tochukwu
Language: eng
Format: epub
Publisher: UNKNOWN
Published: 2024-02-11T00:00:00+00:00

Similar to the MACD lines, the 2 lines exhibit varying speeds. The Stochastic indicator is employed to identify overbought or oversold market conditions on a scale of 0-100. In situations where its two lines exceed an index of 80 (depicted by a red dotted line in our illustration), they signify that the market has become too saturated with buyers and may be possibly overpriced. Conversely, when these same Stochastic interfaces fall below an index of 20 (represented by blue dots), it suggests there could be surplus supply leading to unrealistically low prices within such markets. The general principle here recommends buying during oversold trading times and selling amid instances suggesting potential predisposition towards becoming extremely pricey via possible overbuying scenarios.

As you examine the currency chart above, it becomes clear that the indicator has been signaling overbought circumstances for a significant period. Keeping this fact in mind, can you make an educated prediction about where prices may move?

Based on this information, can you guess where the price might go?

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