Fundamental Analysis and RSI Indicator Uses in My Trading Strategy [1000079679 - sony]

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sony

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Fundamental Analysis is a way of looking at the forex market by analyzing economic, social, and political forces that may affect the supply and demand of an asset. ... The idea behind this type of analysis is that if a country's current or future economic outlook is good, their currency should strengthen.

The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market.
The RSI is a widely used technical indicator and an oscillator that indicates a market is overbought when the RSI value is over 70 and indicates oversold conditions when RSI readings are under 30. Some traders and analysts prefer to use the more extreme readings of 80 and 20.

www.mql5.com/en/signals/704835
 
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sony

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XAU/USD fact:
Last Thursday xau/usd pair suddenly up and up, all resistance level broke already and continue the up. Coronavirus is the ultimate reason of this bullish trend. As coronavirus spreads almost 32 countries in the world and affect in Global economy. Now, xau/usd stay 1674.29 and I think again up to 1685.00
 

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sony

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Trade in gbp/aud pair sell @ 1.9702 regarding RSI daily basis frame, touching the 70% level, so great opportunity to sell, target 100-120 pips.
Another trade in aud/jpy buy because this pair price already touched 30% level as well as stay on support area (72.45), so possible to buy and target 72.90 point at least.
 

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sony

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Previous order closed by profit and taka a sell order in eur/usd pair based on RSI h4 time series. 1.0940 is the resistance level and this position just touching the 70% level, so possible to sell some pips before up as my opinion. As I took order based h4 frame, so my target only 20-25 pips. If eur/usd strong from the 1.0940 point so possible to strong buy in next week.
 

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sony

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My placing order now carry $36 loss. When o tooke a buy order in nzd/jpy that moments this market fall 150-220 pips.
Today important news will release in AUD economy. As AUD inter related with NZD, so a liy bit impact impose in nzd related pair after releasing vthis news.
In my attachment, I marked that nzd/jpy recovers the 30% oversold position and try to up. If breaks this 30% level price then possible up trend in this week. Now price is 67.81 and it is the resistance point, if up from this point then continue the up trend as my opinion. If weaks from this resistance point then next destination 67.31 support point.
 

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Today again fall the nzd/jpy and my loss increase by $58. Now nzd/jpy stay on 67.09 and it is the lower value in today and highest value today is 67.85. RSI weekly and daily timeframe shows that this pair now holds the above 30% level area that means oversold position. If cross the 30% level then continue the sell, other hand up from the point and again goes to 67.85.
 

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