Tag Archives: learn to trade forex

BTC 12.03.2019 – Broken bearish flag in the overall downward trend

BTC has been trading sideways at the price of $7.292. The overall trend is still bearish and my advice is still to watch for selling opportunities. Downward targets are set at the price of $6.846 and $6.560.Ichimoku Indicator analysis:There is Kijun-Tenkan bear cross on the 4H time-frame, which is good indication for the further downside. I would watch for potential breakout of mini-support at the price of $7.200 to confirm downside continuiation and eventual test of $6.546 and $6.560.Resistance levels are seen at the price of $7.350 and $7.667.The material has been provided by InstaForex Company – www.instaforex.com…

*Swiss Nov HICP -0.4% On Month Vs. -0.2% In Oct, Consensus -0.1%

Swiss Nov HICP -0.4% On Month Vs. -0.2% In Oct, Consensus -0.1% The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. December 3. Market focus on Christine Lagarde’s “fundamental valuation” and Donald Trump’s duties

EUR/USD – 4H.

On December 3, the EUR/USD pair performed consolidation over the correction levels of 38.2% (1.1057) and 23.6% (1.1029) on the new grid of Fibo levels and performed an increase to the Fibo level of 50.0% (1.1080). Also, the closure was performed over the downward trend corridor, which is no longer working. Based on this, I expect the euro-dollar pair to continue to grow in the coming days, although there are also enough factors in favor of the opposite scenario. For the most part, they are economic. At the same time, it is impossible to deny the ability of the euro currency to grow by 100-200 points.
Yesterday had quite a rich background of information. Two key events of the day could and caused a change in the balance of supply and demand for the EUR/USD currency pair. Demand for the euro has grown thanks to the actions of Donald Trump, as well as economic reports on business activity in the European Union and America. It is easy to guess that these events were negative for the US dollar, although the actions of the US president can be interpreted in different ways. I would like to note at once that earlier…

Egypt Non-Oil Private Sector Contracts Most Since 2017

Egypt non-oil private sector contracted at the fastest pace in more than two years in November, survey results from IHS Markit showed Tuesday. The non-oil private sector Purchasing Managers’ Index fell to 47.9 in November from 49.2 in October. The score suggested the fastest decline since September 2017. Output contracted for the fourth consecutive month in November. New orders also declined at a faster pace. Moreover, employment fell for the first time in four months. Firms reduced their output charges to stimulate demand. At the same time, input cost inflation reached the second-slowest in the series history. Looking ahead, future sentiment decreased marginally in November, falling below the average for the series. The material has been provided by InstaForex Company – www.instaforex.com…

Trader’s Diary: EURUSD on 12/03/2019, Market condition

EURUSDOn Monday, December 2, the euro received a strong impulse upwards, this is seen in the chart above. Many traders probably rated this as the beginning of a large, strong trend. Moreover, there has not been a real strong movement in the euro for a very long time, since October 2018.The issue of trend is a question of market conditions. And market condition is a very important issue for the architecture of the Trading System.As I wrote in my past article, the Trading System is divided into simple and complex systems, where in a simple system the question of market condition is simply ignored. Vehicle parameters and filters are selected in such a way as to exclude periods of long-term losses and drawdowns. The disadvantage of this approach is that the longer we trade on a Trading System (TS), the more likely the market will be stuck for a long time in an unfavorable phase for our system, and no settings and filters will be saved.A radical solution is to introduce the concept of Market State into a TS and then remove the system in an unfavorable market. It is obvious that in a trend it is not worth trading a…

Australia Central Bank Holds Key Rate As Expected

Australia’s central bank left its key interest rate unchanged on Tuesday, as policymakers wait to see the impact of previous easing. The board of the Reserve Bank of Australia, governed by Philip Lowe, decided to leave the cash rate unchanged at a record 0.75 percent. The central bank had lowered the rate by 25 basis points in October, which was the third such reduction this year. “Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting,” the bank said in a statement. The bank repeated that it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The bank reiterated that it is prepared to ease monetary policy further if needed. The bank observed that the lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries. It has also boosted asset prices, which in time should lead to increased spending, including on residential construction. Marcel Thieliant, an economist at Capital Economics expects…

*Aussie Rallies To Near 3-week High Of 0.6844 Vs U.S. Dollar After RBA Decision

Aussie Rallies To Near 3-week High Of 0.6844 Vs U.S. Dollar After RBA Decision The material has been provided by InstaForex Company – www.instaforex.com…

Trading recommendations for EUR/USD currency pair on December 3

From the point of view of technical analysis, we see a magical jump in quotes, which led us back to the first recovery level of 1.1080, where it slowed down its inertial movement, and as it was, we will analyze it sequentially. To begin with, the quotes moved sluggishly within the psychological level of 1.1000 for five consecutive trading days, having variable accumulation with a low-amplitude tap, where volatility dropped to 18 year lows. Such stagnation raised market interest on a daily basis, and thus, many traders wondered what will happen next. Of course, many expected further recovery, with the transition to the third stage [#3/1; # 3/2]. However, after such a long accumulation, there was no longer a big difference where the price would go, since the momentum was provided. So the day “X” came, the reference points were 1.0990 [Sell] and 1.1030 [Buy], the upper mark is triggered, and the quotes reaches all previously set forecasts on the inertial course which were 1.1055-1.1060-1.1080, from which we all come out for a good profit.
The key question is what to expect next? But, we will return to it a little later.
Analyzing the past hourly hour, we see that…

Control zones USDCHF 12/3/2019

The pair’s fall from yesterday led to the lower limit of the average weekly move. This makes it possible to close all sales opened during the WCZ 1/2 test. The probability of consolidation below the middle course zone is at 30% this week. This allows us to consider the formation of corrective upward movement until Friday.
Sales from current grades are no longer profitable. You need to create a false breakout pattern of yesterday’s low to buy from the middle course zone.
An alternative decline model will be developed if today’s trading closes lower than yesterday. This will indicate a continued decline, the aim of which will be the November low. Sales at or below average speed are not recommended, as the likelihood of a return to the range will increase to 90%.
Daily CZ – daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ – weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ – monthly control zone. The zone, which is a reflection of the average volatility over the past year.
The material…

Control zones for USD/CAD on 12/03/19

During the second week, the pair is trading within the accumulation zone. This makes it possible to consider weekly extremes for finding entry points. The upper boundary is the maximum of the last week, which coincides with the Weekly Control Zone 1/2 1.3328-1.3319. Now, testing this zone will be decisive for the entire upward movement of the last month.
Working within the framework of the flat implies partial consolidation of transactions during tests of significant extremes.
An alternative model will be developed if the closure of today’s trading occurs above the Weekly Control Zone 1/2. This will open the way for further growth. The nearest goal, in turn, will be the maximum of October. The test of which will increase the probability of a large offer.
Daily CZ – daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ – monthly control zone. The zone that reflects the average volatility over the past year.
The material has been provided by InstaForex Company – www.instaforex.com…