- Most of the range market moves of the OMG/USD have featured under the sell signal line of the SMA trading indicator.
- Traders are enjoined to exercise some degree of caution while placing an order.
OMG/USD Medium-term Trend: Ranging
- Distribution territories: $1.80, $2, $2.20
- Accumulation territories: $1.20, $1, $0.80
OMG/USD market territories between $1.60 and $1.40 marks have dominated by a variant of choppy price movements. Most of the range market moves have featured under the sell signal line of the SMA trading indicator.
About a day and several hours until the present, the Bollinger Bands have shrunk into the choppy spots. Like wisely, the 50-day SMA trading indicator has joined with the Bollinger Band at the upper end of range market. The Stochastic Oscillators have moved closer to range 75 with their hairs conjoined to signify the intensity of the on-going range movements.
There has been no tangible move to suggest a clear-cut direction of this market. And that could linger on to the next trading session.
OMG/USD Short-term Trend: Ranging
The OMG/USD short-term trend has been witnessing a more intense ranging price moves. The intensity of the ranging market has spanned from yesterday’s session into the present market trading condition.
All the trading indicators are within the ranges, as earlier mentioned in the paragraph above. The Bollinger Lower Band and the 50-day SMA are joined together in the choppy regions. The Stochastic Oscillators have crossed downwards from range 80 to range 40. And, they now attempt to close the hairs.
It appears the OMG/USD bulls are struggling around the present choppy spots. Traders are enjoined to exercise some degree of caution while placing an order.
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