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Fundamentals of the United States Dollar (USD)

The safe-haven currency, the United States dollar, known under the ISO symbol of USD or nicknames such as dollar and greenback, has enjoyed a...

Forex Books Recommended by Professional Swing Traders

Everyone who ever desired to become successful trading in the forex market understood how relevant getting proper education is. At times, we may watch...

Five Questions Answered by Forex Mentors

Some statistics suggest that 90% of beginners lose the same percentage of their trading capital in the first 90 days of trading. As it appears, the odds of someone failing right from the start are staggeringly high, which is why a number of newbies decide to enter coaching programs. With a massive quantity of available information and websites where they rate various mentors, we cannot but wonder if this is the path we should be taking ourselves.

Forex Fear of Missing Out! (FOMO) Don’t Make This Basic Mistake!

The Application of the Moving Average on Indicators

Traders worldwide have shown interest in the Moving Average Convergence/Divergence indicator that we all know as MACD. Praised as a two-line indicator that has...

The Fundamentals of the Euro (EUR)

The euro (symbol: €/code: EUR) is said to be used by approximately 341 million individuals each day, thus making it the second most-used currency in the world. The currency’s name was formally adopted in 1995 in Madrid upon then President of the European Commission, Jacques Santer, receiving a letter by Belgian Esperantist Germain Pirlot offering the suggestion. Like other currencies, the EUR used to be a commodity currency before becoming a fiat currency in the 1900s.

EUR/JPY EMA Crossover Underpin Buying – Quick Update on Signal! 

The EUR/JPY is trading with a bullish bias at 126.285 level, holding mostly over the triple top resistance become support level of 126.169 level. Continuation of a selling trade can extend bullish bias until the 126.560 mark. The pair is also gaining support amid 10 & 20 periods EMA supporting bullish trend continuation in the market. The MACD and RSI are supporting an upward momentum in the EUR/JPY pair. On the hourly chart, we can see the pair has closed bullish engulfing, which may help support the EUR/JPY pair's buying trend. Check out a trading plan below: 

GBP/USD Sell Trade Continues – Three Sell Signals! 

The GBP/USD pair continues trading sideways between a narrow trading range of 1.3740 - 1.3703 level. On the lower side, a bearish breakout of 1.3703 level can extend the selling trend until the next support level of 1.3679 level. Conversely, the bullish crossover of 1.3740 can extend buying trend until the 1.3775 level. Let's keep an eye on the 1.3700 level today.

Trading System design – Manual Backtesting your Trade Idea

Trading System design - Manual Backtesting your Trade Idea

Daily F.X. Analysis, January 22 – Top Trade Setups In Forex...

On the news front, eyes will remain on the Manufacturing PMI and Services PMI figures from the Eurozone, U.K., and the United States. Almost all of the economic figures are expected to perform poorly than in previous months. Price action will depend upon any surprise changes in the PMI figures.

The Fundamentals of the Japanese Yen (JPY)

In terms of popularity, the Japanese yen (sign: ¥, code: JPY; meaning: circle, round object) ranks third among the eight most traded currencies in the world, only preceded by the USD and the EUR. This currency forms some of the most traded crosses as well, such as the USD/JPY currency pair that holds an 11% volume of all trades worldwide. As such, the JPY is also one of the most liquid currencies and enjoys the status of a reserved currency in many countries around the globe.  

Incorporating the Right Indicators Into Your Trading System

Technical traders are not making decisions on any other input but their set of indicators and rules. As a holistic approach, it is a...

Bearish Bias Dominates USD/CAD – EMA Extends Resistance  

The USD/CAD pair is trading with a selling bias at 1.2619 level, facing an immediate resistance around 1.2630 level. The USD/CAD pair is stuck in between a narrow trading range of 1.2630 - 1.2612 level on the two-hourly timeframes. On the lower side, a bearish breakout of 1.2612 level can extend selling bias until the next support level of 1.2580 level. Conversely, an upward crossover of 1.2630 can send the USD/CAD pair further higher until the 1.2665 level. The MACD and RSI are in support of the selling trend today. 

USD/JPY Violates Triple Bottom – Sell Signal Update! 

The USD/JPY continues to trade sideways in between a wide trading range of 104.340 – 103.560. The USD/JPY has formed a sideways channel on the 4-hour timeframe, and it has the chance of leading the pair towards the next resistance level of 104.800 upon the breakout of 104.810. The 50 periods EMA supports the bullish trend, and we may have odds of taking a buying trade over the 103.570 level today. Good luck! 

AUD/USD Upward Bias Continues – Upward Channel Supports! 

The AUD/USD currency pair maintained its previous session bullish bias and hit the intra-day high around above mid-0.7700 level mainly due to the all-time high gains in S&P 500 futures, which lent strong support to the perceived risk currency Australian dollar and contributed to the currency pair gains. The market trading sentiment was being supported by the hopes for additional U.S. fiscal stimulus measures and optimism over the rollout of COVID-19 vaccines. Moreover, the currency pair gains were further bolstered by the broad-based U.S. dollar bearish bias, which was triggered by multiple factors. 

Complete Trading Procedure Example (Courtesy of a Professional Technical Prop Trader)

When you start your journey into forex trading, there is so much to know you do not know where to start. The internet is so full of information and yet sources that show you where to go are rare. What is abundant is the marketing mechanisms whose point is to extract more cash out of you, offering education that is otherwise free. You will undoubtedly on your first searches find multiple channels, websites, brokerages, and investment platforms full of attractive numbers and “professional” traders promoting their story as skilled promoters. Very rarely you will find a real example of what a prop trader does practically every day, how a trader’s day looks like. Based on these examples you can mold your own trading strategy or have an overview of what to develop first. 

Professional Technical Trader’s Guide to Increasing Your Odds

General guides on trading outline what you need to have if you want to have a career but will not solve problems every trader...

Daily F.X. Analysis, January 21 – Top Trade Setups In Forex...

The market's news is likely to offer high impact events from the U.S., while the major focus will remain on the Philly Fed Manufacturing Index and Unemployment Claims. U.S. dollar may exhibit mixed bias until the release of these events as Philly fed manufacturing is expected to perform badly, and the Jobless claims are likely to perform well.

A Prop Traders’ Take on Expert Advisors

As trading in the currency market may be a completely dissimilar experience for different traders, a single piece of advice may also apply differently across different people’s careers. If you feel that a specific set of instructions is not working out for you, while others seem to be doing quite well following the exact same steps, understand that there are more things at play aside from technical suggestions and tools.

Daily F.X. Analysis, January 20 – Top Trade Setups In Forex...

On the news front, the eyes will remain on the U.K. Monetary Policy reports due during the late European hours. BOE isn't expected to change the rates, and it may keep them at 0.10%; however, it will be important to see MPC Official Bank Rate Votes. Besides, the European Final CPI data will remain in focus today.

GBP/AUD Global Macro Analysis – Part 3

GBP/AUD Exogenous Analysis

How NOT to Sabotage Your Own Forex Trades

You are in a trade, you have managed your settings prior to the entry, and everything seems to be running smoothly when all of...

Is Volume Enough to Beat the Big Banks?

Traders hoping to become successful at forex constantly strive to improve their trading skills and, even more so, the variety of indicators that they...

Technical Trader Algorithm Guide Example – Trend Continuation Trades

Trend following strategies is the best method of trading according to research studies. Traders will pick a trading method that is the most comfortable...

Fundamentals of the Australian Dollar (AUD) and the New Zealand Dollar...

The two currencies, the Australian Dollar and the New Zealand Dollar are quite highly correlated, which is why this article will deal with them...

Trend Trading When There Are No Trends

During a larger part of 2019 traders have witnessed probably the least volatile forex market in history. These periods are often followed by steady bullish equities markets when most of the capital goes on this side of trading. Forex traders that use trend following methods have two options in these situations. Trade as they are still in trending markets and give back what they have earned during the previous year or use this environment to their advantage. The situation from 2019 is perfect grounds to learn, test, and separate consistent traders from the rest. 

Three White Soldiers Underpins EUR/JPY – Buying Signal Update! 

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AUD/USD Bearish Engulfing Candle – Is It Good Time to Sell?

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Daily F.X. Analysis, January 19 – Top Trade Setups In Forex...

The eyes will remain on the European German ZEW Economic Sentiment data and the Current Account figures from Europe on the news front. All of the figures are expected to have a mixed impact, which may put sideways in the single currency Euro. Besides this, the eyes will stay on the German Final CPI figures.

20 (More) Quick Answers to Common Forex Trading Questions

We're back again! This time with twenty more simple answers for very common questions related to Forex trading. If you haven't yet read our...

20 Quick Answers to Common Forex Trading Questions

Without a doubt, the topic of Forex trading brings with it many questions. There are questions related to strategies, brokers, fund management, and much...

The DOW Jones Is Getting Ready To Drop!

Biden Shows His Cards – This Is How The Market Is...

GBP/NZD Global Macro Analysis – Part 3

GBP/NZD Exogenous Analysis The UK and New Zealand Current Account Differential The current account differential between the UK and NZ is the value of...

Is Forex Trading Legal in India?

When it comes to forex trading rules and regulations, things can get confusing for traders located in certain countries. Residents of the United States,...

GBP/NZD Global Macro Analysis – Part 1 & 2

Introduction In this analysis, we will analyze endogenous factors that influence both the UK and New Zealand economies. The analysis will also include exogenous factors...

Here’s How to Take the Stress Out of Forex Trading

Forex trading can be undeniably stressful at times, especially when the market becomes volatile or if you find yourself on the end of a...

AUD/JPY Gains Support Over Double Bottom – Is It Worth Holding...

The AUD/JPY pair traded bearish, falling from 79.77 level to trade low at 79.50. On the lower side, the AUD/JPY may find support at the 79.50 level, and a bearish breakout of this level can extend selling bias until the 79.14 level. The 10 & 20 periods EMA are supporting selling bias, along with the 50 MACD and RSI indicators. Let's follow a trading plan below:

Forex Trading: The Good, the Bad, and the Ugly

Within the last 20 years or so, forex trading has become a popular online financial source that has attracted millions of aspiring traders worldwide....

AUD/USD Symmetric Triangle Breakout – Brace for Selling! 

The AUD/USD failed to stop its previous session bearish moves and hit the one-week around well below 0.7700 level. The cautious sentiment ahead of U.S. President-elect Joe Biden’s office term, as well as the lack of major data/events and a long weekend in the U.S., played their major in undermining the market trading sentiment. The AUD/USD currency pair is currently trading at 0.7669 and consolidating in the range between 0.7659 - 0.7711.

Daily F.X. Analysis, January 18 – Top Trade Setups In Forex...

The market may offer thin trading volume and volatility on the back of a holiday in the U.S. The U.S. banks will be closed in observance of Martin Luther King Day. However, the German Buba report will be in focus today to predict price action.

Forex Tips For Newbie Traders!

Three Things you Ought to Know Before Buying EURUSD

The EURUSD eased the last trading week, losing 1.18%, leaving away from the yearly high at 1.23495 reached on last January 06th. The common currency accumulates losses by 1.14% (YTD), which, added to other market conditions commented in our current analysis, carries us to expect further declines in the following trading sessions.  

Market volatility continues into 2021, where next for Cable?