Tag Archives: MT5

How to Take Partial Profit in MT4 (Android) Forex Trading

https://www.7FigureBizOp.com/cainbrian?SOURCE=forextrainingbonus – Make sure to get access to my Free value FB group on Forex Trading. In this video, you’ll discover how to take a partial profit on the Android version of the MetaTrader 4 app. aka the MT4 mobile android app. Most people may not know how to close out partial profits in forex from one position.… Read More »

GBP/USD 01.17.2020 – Broken bearish flag on the daily time-frrame, watch for selling on rallies with main target at 1.2960

GBP has been trading downwards. The price tested and rejected of the level of 1.3120. I see further downside on the GBP and potential re-test of 1.2960 and 1.2910. The rejection of the Bollinger middle line is the early trigger for the downside. I also found potential for bearish outside candle. My advice is to watch for selling opportunities on the rallies using the hourly/4H time-frame.MACD oscillator is showing bearish stance and reading below the zeroMajor resistance is set at the price of 1.3120.Support levels and downward targets are set at the price of 1.2960 and 1.2910.The material has been provided by InstaForex Company – www.instaforex.com…

Oil Prices Inch Up On Growth Optimism

Oil prices inched higher on Friday amid optimism that a more conciliatory approach on trade between the United States and China will help revive growth. A raft of Chinese economic data either met or beat analyst estimates, fueling hopes of an uptick in demand. Benchmark Brent crude edged up 0.3 percent to $64.81 per barrel, while U.S. crude futures were up 0.2 percent at $58.62. The formal signing of the Sino-U.S. trade agreement on Wednesday helped remove a degree of near-term uncertainty as U.S. President Donald Trump heads into a re-election campaign. Under the Phase 1 deal, China will purchase $50 billion worth of U.S. energy products over the next two years. In another development, the U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labor and automotive content. On the data front, China’s GDP data came in line with expectations and there was growth in industrial output and retail sales, suggesting the world’s second-biggest economy ended the year on a firmer note. In the whole year of 2019, China’s gross domestic product grew 6.1 percent, which was well within the target of 6-6.5 percent. The material…

EUR/USD. January 17. Overbought euro still caused a fall

EUR/USD – 4H.

As seen on the 4-hour chart, the EUR/USD pair performed a reversal in favor of the US currency and resumed the process of falling in the direction of the low level of 1.1086. A new downward trend corridor has been formed, which now points to the “bearish” mood of most traders. The reversal of quotes in favor of the US dollar occurred with some delay, I was waiting for it 1-2 days earlier. However, in this case, it turned out not so bad, and now I expect a fall to the lower line of the corridor – 1.1040 (approximate goal). A bearish divergence was also formed for the MACD indicator, which also worked in favor of the US currency. The report on inflation in the European Union was not weaker than forecasts, but not stronger than them. Inflation was 1.3% y/y in December, which remains far from the ECB’s target level, which is now 2.0% but can be lowered in the future. Now the main thing is that the information background from America does not scare off bear traders from the plan. In the US, the consumer confidence index and the level of industrial production will be released today.
Forecast…

Pound Strengthens Ahead Of U.K. Retail Sales Data

At 4.30 am ET Friday, the Office for National Statistics releases UK retail sales data. Sales are forecast to grow 0.6 percent on month in December, reversing a 0.6 percent fall in November. Ahead of the data, the pound climbed against its major rivals. The pound was worth 1.3099 against the greenback, 144.32 against the yen, 1.2643 against the franc and 0.8498 against the euro as of 4:25 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Is Euro playing cat and mouse with the dollar?

At the end of the week, the European currency cheered up, after a worthy competition with the dollar. Its classic rival for the EUR / USD pair is also on the alert, strengthening against the backdrop of the relatively successful signing of the first phase deal. Experts expect to achieve a balance in tandem, and these hopes can be justified.
According to experts, the euro tried to capitalize on the signing of an agreement between Washington and Beijing, but these actions are more reminiscent of stealth maneuvers, like a cat and mouse game. However, analysts warn that it is better not to play such games with the dollar.
Recall that on Wednesday, January 15, the leaders of the two leading powers signed a document on the first phase of the trade deal. The negotiation process associated with it lasted more than six months. According to experts, this event did not provide significant support to the greenback. The pound, on the other hand, took advantage of this and tried to break out into the leaders in the EUR/USD pair and thus teasing his rival.
According to the agreement, within two years, the Celestial Empire pledged to import a number of…

Elliott wave analysis of GBP/JPY for January 17 – 2020

GBP/JPY broke above key resistance at 143.50 indicating that a premature bottom has been found at 140.82 and renewed upside pressure should be expected towards 149.00 as the minimum target for wave v. This rally should complete the first impulsive rally from the August 2019 low at 126.52 and pave the way for the largest correction in this uptrend. The first target to look for is the bottom of wave iv at 140.82, but an even larger correction can not be excluded, but for now, we will stay focused towards the upside for a rally towards at least 149.00. R3: 145.75R2: 145.43R1: 145.04Pivot: 144.23S1: 143.90S2: 143.50S3: 143.20Trading recommendation: Our stop at 143.50 was hit for a 45 pip loss. We bought GBP at 143.60 and have placed our stop at 143.20. The material has been provided by InstaForex Company – www.instaforex.com…

Forecast for EUR/USD on January 17, 2020

EUR/USD
US retail sales turned out to be good in December. Total sales added the expected 0.3%, and the November figure was revised to increase from 0.2% to 0.3%. The base index (excluding car sales) increased by 0.7% while expecting 0.5%. The index of business activity in the manufacturing sector of Philadelphia increased from 0.3 to 17.0 points in January and weekly applications for unemployment benefits showed 204 thousand – the lowest since September. As a result, the euro closed the day down by 13 points.
Reversal signs have not yet formed on the daily chart, the signal line of the Marlin oscillator lingered on the boundary with the territory of the bears. We are still waiting for the strengthening of down moods. US data will be released today on housing starts for December (forecast 1.38 million YOY versus 1.37 million YOY in November) and on industrial production, the forecast for which is not so optimistic: -0.2/0.0% versus 1.1% in November. But during the week, business activity indices in the regions of New York and Philadelphia turned out to be better than forecasts, which provides a chance for the December industrial output to be better than expected. We are…