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Kathleen Brooks on Forex: A simple approach to trading foreign exchange using fundamental and technical analysis by Kathleen Brooks

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Trading with trends

The whole point of my technical analysis is to try to spot trends. The most basic definition of an uptrend is when you get a series of higher highs and higher lows; the opposite is true for a downtrend. So that’s what I’m looking for.

If the market likes a currency and it is rising (the street calls this bullish) the currency is in an uptrend (see Figure 2.3), when it doesn’t like a currency and it is falling (bearish) the currency is in a downtrend (see Figure 2.4). Usually I want to buy strong currencies and sell weak ones – so buy into an uptrend and sell in a downtrend.

Figure 2.3: EURUSD in uptrend

Figure ...

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