EUR/USD Forex Technical Analysis – Aggressive Short-covering Driving Prices Higher

I prefer to place swing traders in this category. The main range is. Another thing to bear in mind is that people that want to take a large position will often scale in to their position with limit orders and you will find this hard to see on the tape as we all know the tape only shows market orders. Important Information By using this site, you agree to our Terms of Use. Short covering by big money can be detected with market profile and volume. A sustained move over.

Short covering is necessary in order to close an open short position. A short position will be profitable if it is covered at a lower price than the stock was sold short, and vice versa if the.

Daily Swing Chart Forecast

Fawad Razaqzada August 24, 9: Choppy price action continues inside wide ranges ahead of the Jackson Hole Symposium and amid lack of any significant news. After falling sharply yesterday, stock markets have bounced back again, while safe haven gold has fallen slightly out of favour. In FX markets, short covering has boosted the pound while the safe haven yen has weakened a tad. Unfortunately the markets are likely to remain directionless for another session at least until we hear from the heads of key central banks, including the Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi on Friday.

It looks like the softness of the pound and Brexit uncertainty is having undesired impact on household and business confidence. Consumer spending dropped to a two and a half year low of just 0.

Thus a rise in government spending prevented GDP from being revised downwards from 0. Nonetheless the pound actually managed to catch a bid after falling sharply in recent days. The gains for the pound could very well be short-lived as sentiment is quite bearish at the moment thanks to a dovish Bank of England.

But as far as the cable is concerned, it was testing a key short-term resistance area between 1. Business Inventories Climb 0. Consumer Sentiment Index - September 14, Dollar traders key in on jobs data. Dollar Climbs Ahead Of U. Consumer Sentiment Index 5 hours ago.

Risk Disclaimer - By using this web site you agree to its terms and conditions. All materials, including but not limited to articles, directories, photos, lists, etc. The unauthorized use of any and all materials is prohibited and restricted by copyright law.

Any use of materials on this site must be approved in advance by ForexTV. Latest Articles See All. Expand Your Knowledge See All. How Can Bitcoin be used as a Crime Weapon? And How Can this Be Solved? Trading the Economic Calendar. This section may not include all available products, all companies or all services. ABOUT US FX Empire - the company, employees, subsidiaries, and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as link result of reliance on the information provided on this website.

The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. FX Empire may receive compensation from the companies featured on the network. All prices herein are provided by market makers and not by exchanges.

BREAKING DOWN 'Short Covering'

EUR/USD Forex Technical Analysis – Aggressive Short-covering Driving Prices Higher Based on the early price action, the direction of the EUR/USD is likely to be determined by trader reaction to. AUD/USD Forex Technical Analysis – Short-Covering Rally Could Fuel Move into – Based on Friday’s close at and the momentum created by the closing price reversal bottom, the. 8 days ago · Gold Edges Higher On Short Covering Posted by: Insta Forex in Forex Analysis 1 min ago Gold prices edged higher on Thursday as a weaker dollar helped spur some short covering.