Topic: Analytics from Optionova binary options broker
The rapid growth rate of the pound has led to the level of 1.6775 against the dollar
As part of the renewed rapid increase the British Pound broke through by another "bull" candleof the level 1.6775 and reached the upper limit of the channel. The 100- period simple moving average is marked asblue line on the graph; it is built on the basis of the closing price (close). Red line marks the 50 - period average moving line, built on the basis of the closing price (close).
The MACD indicator parameters are as follows: fast exponential moving average is 12, based on the closing prices; the slow exponential moving average is 26, based on closing prices; the signaling simple average moving is 9, based on closing prices. The locations of the MACD indicator columns above the zero line indicates its positive trend, and the location of the bars of the MACD indicator below the zero line –the negative dynamics.
The parameters of the RSI indicator are 14 that are constructed on the basis of the closing prices. The RSI indicator overbought area is determined by the intersection of the indicator line above 70 and the RSI indicator oversold zone is defined by the indicator line intersection below 30. For the better detection of the trend the level 50 is in the RSI indicator window. The Stochastic indicator parameters (Stochastic Oscillator) are as follows: the period % K is 5, the period % D - 3, the period of deceleration - 3.
Stochastic indicator constructed by simple moving average based on the average price (Low / High). Stochastic indicator overbought zone is determined by the indicator line intersection above 80 and the Stochastic indicator oversold zone is determined by the intersection of the line indicator below 20.
At the moment, the predominant direction of the Forex market–is upward, as indicated by the intersection of the upward moving averages with periods of 100 and 50. Moreover, the both sliding lines show a moderate increase. The upper boundary of the channel, as well - the level of 1.6865 can serve as the nearest resistance to the market.
It is important to note that the current consolidation of the GBP / USD pair occurs for several reasons. In particular, the UK trade balance indices of visible trade have improved and the ones of the trade balance excluding trade with the EU.