Golden Cross – What is a Golden Cross in forex technical analysis ?

What is a Golden Cross?

Definition of Golden Cross: It is an expression for a well known technical analysis model in which the two averages intersects. It suggests that the reference money moves in the similar direction. As shown in the chart given below, the crossover point moves upwards with an average speed and this is known as the Golden Cross. Generally, the Forex traders regard it as an optimistic signal in the market. The moving in a long way with an average speed becomes the support stage in the rising market. For the stocks, rising volume at the crossover point is a confirmation of a raised breaking move. The fifty or hundred day MA’s are general for the stocks. The foreign currency of MA depends on the time selected by the trader and can be both in days or hours.