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Sales of existing homes is the indicator helping to trace the number of sold houses per year on the existing home market. Also it can assist in forecasting about current confidence of buyers (consumer optimism) and their sentiment to buy precious assets. Index value is subject to great season fluctuations characterizing real estate market. Increase in volume of construction is closely related with the growth of income of population and is favorable towards economic growth. The data on the amount of sol houses is published on the fourth week of every month at 10:00 EST (New York). Market respond to this index is weak. Index growth is a positive factor for consolidation of national currency.
Popular article: Equidistant Channel
Equidistant Channel represents two parallel trend lines, which serve as support and resistance lines for the price. Basically it is inclined trading range with the lines connecting highest and lowest prices. Prevailing tendency is defined by a trader. If trend is upward, the line should be built along two lowest points (bottom – bottom). In case of downward trend, the line is built along two highest points (top - top) Parallel line is built as distant as possible from the trend line. The result will be equidistant channel within the borders of which fluctuation of currency rate takes place.
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