What Makes The Rectangle Chart Pattern So Important?
Did you know that the market is stuck in a range most of the time？ In other words, you will see the rectangle chart pattern 70% of the time. This leaves trends to form the other 30%. Hence it is important to know the significance of the rectangle chart pattern.To get more news about WikiFX, you can visit wikifx official website.
A rectangle occurring after a trend is normal. Rectangles are resting areas. This is an area where the bulls and bears are unable to overcome one another, resulting in a trendless situation.
Identifying The Rectangle Pattern
Given that rectangles are areas of rest, they should ideally be narrow and tight as shown in the chart below.
Did you notice that the horizontal lines of the rectangles act as support and resistance？
Prices may pierce through the support resistance lines, but the general rectangle pattern is still well respected.
A rectangle can last for as short as a few minutes. Currency traders look for rectangles that last between minutes and days.
Besides varying in duration, rectangle chart patterns also vary in height.
A rectangle is like a base of a building. A larger base will be able to support a larger building. Therefore, a larger rectangle will be able to support a larger price move when prices move beyond the rectangle.
The larger the candles within the rectangle, the longer the pattern stays in a rectangle. The move following the breakout of the taller rectangle tends to be larger. The size of the above rectangle is 45 pips . Price hovered within the rectangle for 2 days and 6 hours before breaking out of the rectangle.
At market lows, banks and large commercial companies will be accumulating (buying) the asset and this can occur within the rectangle pattern.
At market tops, banks and large commercial companies who had bought the currency pair while it was cheap will slowly distribute (sell) to uninformed speculators.
Dovish Fed Keeps Driving the Dollar Down
Traders expecting Wednesday‘s FOMC meeting to reverse the dollar’s fortunes, received a rude awakening as a dovish policy statement continued to heap pressure on the USD.To get more news about WikiFX, you can visit wikifx official website.
With the economy showing little sign of recovery from the devastating Covid-19 driven recession that we currently find ourselves within, the Fed left interest rates at near zero levels and vowed to continue “acting as appropriate to support the economy.”
Jerome Powell also implored Congress to help stimulate the economy through supportive fiscal policy, but the ultrasensitive and divided US political landscape certainly doesnt help.
There‘s no way today’s FOMC statement can be viewed any way but as a dovish message to markets, with the Feds intention to maintain highly accommodative policy for “as long as it takes.”
Most likely were talking years here.
The actual July FOMC statement was little changed from June, but did feature the following addition: “The path of the economy will depend significantly on the course of the virus.”
The irony of the Fed speaking about there being no tradeoff between the US economy and public health on the same day that the countrys Covid-19 death toll ticked above 150,000, is not lost on me.
A devastating milestone that looks nowhere near a top, with California, Texas and Florida all also reporting record numbers of daily deaths.
“Even if the reopening goes well and many, many people go back to work, it is still going to take a fairly long time for parts of the economy that involve lots of people getting together in close proximity” said Powell in his accompanying, socially distanced, virtual press conference.With markets becoming increasingly addicted to stimulus, we know support means free money and as you can see below, the markets reacted accordingly.
The US Dollar Index (DXY) remains under pressure, reaching support not tested since 2018.
With the Best Performance
Recently the global stock markets soars with irresistible force, the Chinese and US stock market in particular. And driven by new economy, the Nasdak Composite Index hit record high many times, and it closed at 10,492.50 on July 8, another record close high.To get more news about WikiFX you can visit wikifx official website.
This decreased the pressure on USDs liquidity from the market and weakened the safe haven function of USD, putting continuous pressure on the US dollar index. In the short term, the index is more likely to test the low level of 95.716 recorded in May. If it fails to break the level, the index may challenge the low level of 94.650 happened on March 9.
Faced with a weakening US dollar index, non US dollar currencies bounced back in varying degrees. From a perspective in Macro trend, the Swiss Franc has the best year-to-date performance, up about 3.5% again the USD, ranking the first among all currencies. And safe haven Japanese yen ranks the third, up 1.34% this year, second only
The Swiss Franc performed extremely well because of the relatively stable situation of COVID-19 and better economic data in Switzerland compared with that of other European countries. Therefore, forex traders preferred the Swiss Franc to USD as a safe haven. And market estimates that the Swiss Franc will keep maintaining an edge in the second half of this year. In the short run, USD/CHF appears to approach the low level of 0.9181 of March or the low level of 0.9071 recorded in 2015.
It is estimated that cautiously optimism pervades the future Japanese yen market, another safe haven. Recent USD/JPY basically fluctuates at the range of 108.16-106.00, being approaching the level of 106.00. And it is likely to break the level and challenge again the major support level of 104.45.
Gold price hovers at a high level ready to approach 1,900 USD
Global spot gold price rose to 1,817.88 USD on July 8, hitting a 8-year high. Wholly speaking, gold price still hovers at a high level. According to the previous experience, it seems like the gold price hasnt peaked, and it is likely to hit a new high in the future and edges close to another major level of 1,900 USD.To get more news about WikiFX, you can visit wikifx official website.
I have traded gold for 30 years and know that there are many basic factors that can affect the trend of gold, as well as major ones including against the USD, trend of the USD, geopolitics and anti-inflation. Now the weak US dollar, geopolitical tension and easing monetary policy by global banks all contributes to further currency depreciation. Although the strong US stock decreases risk aversion, gold price will rally steadily and repeatedly due to the well support by other favorable factors.
It is remarkably that a sudden slump in global stock markets is profitable for gold price with an increasing risk aversion. Recalling the sharply drop in stock market in March, both gold and stock slumped by over US$250. As the stocks fall led to the liquidity squeeze of US dollar and further to sharp rise of US dollar index, causing the simultaneous sharp drop of both a group of non US dollar currencies and gold. Therefore, if the global markets collapse, do not easily believe that it is good for the gold price 100 percent.
Recently, according to a data released by the US, its inflation increase recorded a 8-year high, caused by the sharp recovery of oil price. If the inflation in the US becomes worse, the Fed still needs to simulate economy by maintaining lower interest rate, which is expected to support well the price of gold, as an anti-inflation hedge. In a short term, supported by the profitable factor above, the spot gold price is likely to test above the level of 1,840-1,850 USD, and then to approach the major level of 1,900 USD after giving back gains with a stable fluctuation.
WoW Classic's Halloween Celebration Will Run Through November
MMOs are low-key the best places to spend Holidays. Halloween may still be only a few weeks away on Earth, but it has arrived in Azeroth! WOW's Halloween event Hallow's End starts a few days ago and continues until November 1. For online gamers with WOW classic gold who like to linger in a weird environment, this is the best time of the year. But this doesn't only involve creepy aesthetics, so you need to know about Wow Classic's Halloween Halloween celebrations.To get more news about buy wow gold classic, you can visit lootwowgold official website.
1. Where does Hallow’s End take place
According to the WOW website, the main celebrations of Halloween are held at the following locations: Stormwind City, Ironforge, Darnassus, Orgrimmar, Undercity, Thunder Bluff, Dalaran, Shattrath, Exodar and Silvermoon. Every hotel also carries out activities. (And, for reference only: If you happen to like the retail version of WOW, there will be a big "End of Halloween" event!).
2. WOW Classic Halloween basically lets you re-live your childhood
At the end of Halloween, although it is undoubtedly the most important thing to make sure that weird decorations are there, there are more things to do, such as deception or treatment. Yes, the sound you hear is clear and clear, guys. If you are cheated, depending on the wiki page of the event, you can wear a few minutes of clothing to make it a frog, a human ghost, a kitten, a mini Diablo, a skeleton or a snake.
However, if treated, you will receive a “treatment bag” containing candy, a mask or a scepter that can be used to cast a costume spell on other players. You can also deceive or treat it as part of the "orphaned" quest line for Halloween - if you are a member of the Alliance, you will wander around and complete the mission to get candy for the orphan named Jesper. On the other hand, for tribal members, you will help an orphan named Spoops.
3. Hallow’s End for WOW Classic will also include apple bobbing
Apple bobbing is fun no matter where you do it, but the nice thing about apple bobbing in Wow Classic is that you don’t have to worry about germs. Plus, it’s super easy — just go to an inn and click on the apple bobbing pool to receive five free Bobbing Apples. They can be used to restore health and grant a Stamina and Spirit buff to your character.
4. You won’t want to miss the Hallow’s End Wickerman Festival quests
Head to Stormwind or Undercity to enjoy the Wicker Festival celebrations and complete some missions. One mission requires you to light up the statue of the Vickman of your own faction, while another mission requires you to destroy the statue of the opposite faction. For anyone, this can't end with a bad outcome. But what is the sacred scene of no mischief?
Oh, when it comes to pranks, there are stinking bomb missions. Fly to the opposition's celebrations and throw stinky bombs on their heads. Or, if you feel charitable, you can voluntarily clean up someone else's stink bomb.
Which Mounts Are the Rarest in Classic WoW
Between waypoints, portals, world maps and even start menus, almost all video games released today implement a fast travel mechanism. But in World of Warcraft: Classic, your fast travel options are severely restricted so making mounts a necessity. Obtaining a rare mount with a unique appearance is a cosmetic achievement just like you have enough wow gold classic, and has received considerable respect from the companion, whether a companion or stranger. So which mounts are the rarest?To get more news about wow gold classic, you can visit lootwowgold official website.
These black colored mounts can only be purchased by characters who have been ranked 11 in the honor system. They each cost 100 gold and can be purchased from a vendor in your faction's PvP rewards hall. The bad news: If you want to rank 11th in today's highly competitive player base, it will be difficult to get honor. On the other hand, the only way you can really reach the 11th position is by sending spam to the Alterac Valley battlegrounds, as this is the fastest way to earn honor. So, even if you decide to chase this dream, you will still be on your way to the Alterac Valley mount.
If you're playing Horde, this skeleton horse model is nothing special, but it is the only skeleton mount available to Alliance players. Compared to the normal green and purple of other skeletal warrior mounts available to tribal players, the saddle's blue shroud really sets it apart, but it's not particularly noticeable. That being said, it is likely that you will never see this decline. More alone on owning one. The decline rate is as high as 0.02%. Divide it by 5 to join your dungeon party and you will have a 0.004% chance that the mount will drop and win the game. good luck.
Back in the original release, this mount was only acquired by players who devoted to playing the game almost every waking hour. This is an object of a very, very long task chain. Someone on the server must do the same to open the door of Ahn'Qiraj, allowing all players to enter the team. Until the 5th stage, the attacks of the Temple of Ahn'Qiraj will not be added to the "Classic", so there is a lot of waiting before us. Unless you have at least one guild and maybe even multiple guilds to help you increase your reputation or buy classic gold wow, it's impossible to complete the task chain. Also, this doesn't seem to be difficult enough, as soon as a player turns in a task, a 10-hour timer will be triggered. After the timer starts, you will no longer receive this mount as a reward for completing the mission. In other words, keep dreaming.
Advantages Of LED Car Headlights
Of all the advances in automobile technology, lighting is rarely ever one the first things to come to mind. Advanced they have, however, and in the modern day, LED lighting represents a leap forward in the quality of automobile headlights — a far cry from the bulbs of old.To get more news about car led headlights, you can visit iengniek official website.
Just what sort of advantages do LED headlights hold? There are more than you might suspect, and today, we’re going to be taking a look at some of the biggest reasons LED lights are a step forward.
You might have guessed that “LED” was an acronym. It stands for Light-Emitting Diode, and that’s what these lights use to produce their glow. Without getting into all the technical details, you just need to know for now that LEDs use a different method to produce light than the incandescent bulbs and fluorescent lamps that came before.
How Are LED Headlights Better?
First and foremost, LED headlights “shine” when it comes to efficiency. These lights are up to 80% more efficient than old-school fluorescent and incandescent lights, with much more of their energy being used as light (and a lesser percentage being wasted as heat). What’s more, LED lights do this while using less power to achieve their outputs than traditional lights.
Beyond the efficiency angle, though, LED headlights have better lifespans than their counterparts, sometimes up to six times longer than other types of lighting. Consider this — your average halogen headlight bulbs have a life of roughly 1,000 hours. Average LED headlights, on the other hand, have a lifespan closer to 15,000 hours.
LED headlights also provide improved nighttime visibility, and this all has a big impact on safety, obviously — decreasing the chances of collisions due to poor visibility, and helping motorists avoid disastrous scenarios where they’d have to try to recover damages from a car accident.
The safety of LED bulbs extends further should have them installed on your brake-lights as well. Since they require less time to reach their full brightness, the cars behind you can notice you’re breaking quicker, and react more rapidly — potentially helping avoid an accident.
The benefits of LEDs go even further, though, as they are also rather easy to install. So for those thinking about making the switch from older bulbs to new LEDs, it often just takes just a few tools and a small investment of time to get it done on your own.
And to top it all off, LEDs simply look more stylish to most motorists, so they represent a choice that is equal parts practical and aesthetically pleasing. It’s little wonder they’re becoming the lights of choice for many an automobile nowadays.
Why you should leave installing those LED headlights to the pros
We're getting to the bottom of the issues that are Driving You Crazy on Houston roads!Viewer Shayne Cohen wrote in, "those LED headlights are blinding me!"To get more news about led headlights, you can visit iengniek official website.
You've probably seen those lights out on the roads, too. So, is there a way to fix the problem? Let's find out.
Ever encounter those drivers in the dark with the ultra-bright LED lights? They're so bright, they almost look like high-beams!You might wonder if they're even legal, well, they are! They're even required to have a "Department of Transportation" stamp on them.
LED lights let drivers see more of the road, but they can also blind oncoming traffic.
The law requires that headlights be either white or yellow, and while LED's have a blue-ish tint, they're still considered white.
LED's have increased in popularity, because they're energy efficient. Drivers will often replace their halogen bulbs with LEDs but that's where things can go wrong.
If you don't install them properly, the headlights can be too bright, putting yourself and other drivers in danger.
China's wine dumping allegations leave the industry gobsmacked
Australian winemakers are adamant that their product has not been sold on the cheap in China but say they are willing to cooperate fully with the 18-month anti-dumping probe.To get more news about china industry research, you can visit acem.sjtu.edu.cn official website.
The investigation by the Chinese Government will examine claims from China's own winemakers that Australian exporters have been selling wine in that market for less than it cost to produce, and that Australian winemakers are subsidised.
Sales of Chinese produced wine accounted for 75 per cent of market share in 2015, but that had dropped to just 50 per cent last year.
At the same time exports of Australian wine to China grew from $268 million in 2015/16 to $1.75 billion by 2018/19.
Kandy Xu and her husband Huigao Xu fell in love with Australian wine more than a decade ago, and are making their own under the Kensington Wine label with grapes they grow in northern Victoria's Goulburn Valley.
The majority of their wine is exported to China, where Australian wine is the most popular overseas drop.
"I have not received any subsidy from the Australian Government," Ms Xu told the ABC."The reason for saying this is because the data shows that the average price of wine exported from Australia to China has gradually increased in the past 10 years."
China is the largest export market for Australia's wines, with market share growing nearly exponentially as more Chinese drinkers fall in love with Australia's big, bold style of red wines.
Thomas Tang left the medical profession and started importing Australian wines into China in 2002.
Thomas Tang plans to make Australian wines a focal point of his latest business venture, which will feature bars and live online streaming sales.(Supplied: Dr Thomas Tang)
"In the past, the Chinese market was dominated by middle and low-end wines, but now the price and quality of Australian wines sold in China are improving," he said."I have not seen any Australian wine being dumped into China."
His small wine bar in Guangzhou fell victim to China's coronavirus restrictions, but he is currently working on a major development, Music Park, on the outskirts of the busy tier-one city."The precinct includes live music entertainment, nightclubs, bars and live online streaming sales," Dr Tang said.
China’s Recovery Continues But Wary Consumers Show Vulnerability
China’s economy continued to inch out of the coronavirus slump in May, though a reliance on industry amid sluggish consumer demand underlines the fragility of the recovery as further infections appear.To get more news about chinese industry and management practice, you can visit acem.sjtu.edu.cn official website.
Industrial output rose 4.4% from a year earlier, versus a median estimate of a 5.0% expansion. Retail sales fell 2.8%, compared to a projected 2.3% drop. Fixed-asset investment declined 6.3% in the first five months, versus a forecast 6% drop. The surveyed urban jobless rate fell to 5.9% from 6% the previous month.
A jump in cases in Beijing over the weekend has raised fears of a resurgence of the pandemic in China, threatening to blunt recent government efforts to revive the economy. Beijing has shuttered the city’s largest fruit and vegetable supply center and locked down nearby housing districts after nearly 100 people associated with the wholesale market tested positive for the coronavirus.
The Monday data showed the gradual recovery in China’s economy was still mainly driven by the supply side thanks to continued policy stimulus, while demand remains weak. Industrial production has rebounded from a contraction in February, while private consumption is still shrinking and investment hasn’t recovered.
“The recovery is on the track while mixed performance can be observed everywhere -- manufacturing still better than services, cars better than catering,” said Zhou Hao, an economist at Commerzbank AG in Singapore. “However, the virus concerns will cloud the economic outlook.”
While highlighting the moderate improvements in May and reiterating the pledge to strive to achieve the full-year economic and social development goals, the statistics bureau also acknowledged downside risks.
“The overseas epidemic situation and the world economic situation have become more severe and complicated, and the stable operation of the domestic economy still faces many risks and challenges,” the bureau said in a separate statement.
With the rest of the world in recession, exports dropping and China’s relations with the U.S. continuing to worsen, a rebound relies to a large extent on domestic consumption.
“It’s quite clear that production has recovered pretty nicely, but the consumption, as well as investment actually are lagging behind,” Shen Jianguang, chief economist at leading online retailer JD.com Inc., said on Bloomberg television after the data. “So it’s the lack of demand that’s the main problem of the Chinese economy right now.”
Output in the consumer goods sector shrank 0.6%, compared with the 0.7% increase last month, the statistics bureau said, while export orders were “insufficient.” The value of delivered exports shrank 1.4%, and dropped more than 10% in some important sectors.The People’s Bank of China supplied banks with 200 billion yuan ($28 billion) in fresh liquidity Monday while letting some previous loans expire, leaving the financial system needing further injections if a looming cash crunch is to be avoided. Economists say the chance for a reserve ratio cut in the near-term is increasing after the move.