When is the Trend not Your Friend?

The US dollar remained firm last week. The strongest of the majors was the Norwegian krone, and it rose less than 0.2% against the greenback. The volatility is continuing to compress.

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Golden Cross Pattern

What is a ‘Golden Cross’

The golden cross is a bullish breakout pattern formed from a crossover involving a security’s short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.                   

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