Will Fed Chair Powell announce the rate cut in Septemberβ
What are the forecasts for PMIs this week β
Will the CAD continue to recover after the CPI data β
πͺLearn more by reading our weekly market review
What are the forecasts for PMIs this week β
Will the CAD continue to recover after the CPI data β
πͺLearn more by reading our weekly market review
πΆThe Basics of Currency Pairs: Major, Minor, and Exotic Pairs Explained
Forex traders mostly use currency pairs in their trading routines. Understanding them is crucial for being successful. Briefly, a currency pair is the value of one currency as compared to another. Here are three main types of currency pairs that you are going to deal with when trading.
1οΈβ£Majors, or major currency pairs are those traded globally. They include EUR/USD, GBP/USD, USD/CHF, and others. Majors boast higher liquidity and volumes while providing traders with lower spreads.
2οΈβ£Minors or minor currency pairs are traded without the US dollar. They include GBP/JPY, EUR/CHF, and others. They are less liquid as compared to majors and the spreads are higher. Traders often choose such currencies to build a more diversified trading portfolio.
3οΈβ£Exotic pairs are those with USD or other major currency paired with a currency from an emerging economy. For instance, this can be USD/ZAR, or EUR/TRY.
Forex traders mostly use currency pairs in their trading routines. Understanding them is crucial for being successful. Briefly, a currency pair is the value of one currency as compared to another. Here are three main types of currency pairs that you are going to deal with when trading.
1οΈβ£Majors, or major currency pairs are those traded globally. They include EUR/USD, GBP/USD, USD/CHF, and others. Majors boast higher liquidity and volumes while providing traders with lower spreads.
2οΈβ£Minors or minor currency pairs are traded without the US dollar. They include GBP/JPY, EUR/CHF, and others. They are less liquid as compared to majors and the spreads are higher. Traders often choose such currencies to build a more diversified trading portfolio.
3οΈβ£Exotic pairs are those with USD or other major currency paired with a currency from an emerging economy. For instance, this can be USD/ZAR, or EUR/TRY.
Dear Binolla Traders,
π¬π§ Please note that on Monday, August 26th, the UK stock exchanges and banks will be closed for the Summer Bank Holiday.
π Currency pairs will only be available in OTC mode during this period.
π₯ To mark the occasion, use promo code BANKHOLIDAY80 for an 80% deposit bonus on a minimum $100 deposit. Offer valid from August 23rd to 26th.
π¬π§ Please note that on Monday, August 26th, the UK stock exchanges and banks will be closed for the Summer Bank Holiday.
π Currency pairs will only be available in OTC mode during this period.
π₯ To mark the occasion, use promo code BANKHOLIDAY80 for an 80% deposit bonus on a minimum $100 deposit. Offer valid from August 23rd to 26th.
πKey Events to Follow (August 26-30)
The US Core PCE Price Index m/m will be among the key data releases this week. Also, we recommend paying attention to German and Australian inflation data.
βοΈβοΈβοΈThe US Core PCE Price Index m/m. Consumer inflation in the United States is expected to remain unchanged at 0.2%.
βοΈβοΈβοΈAustralian CPI y/y. Economists expect inflation in Australia to slow down from 3.8% to 3.4%.
βοΈβοΈβοΈGerman Prelim CPI m/m. Monthly inflation in Germany is expected to decelerate to 0.0% from 0.3%.
The US Core PCE Price Index m/m will be among the key data releases this week. Also, we recommend paying attention to German and Australian inflation data.
βοΈβοΈβοΈThe US Core PCE Price Index m/m. Consumer inflation in the United States is expected to remain unchanged at 0.2%.
βοΈβοΈβοΈAustralian CPI y/y. Economists expect inflation in Australia to slow down from 3.8% to 3.4%.
βοΈβοΈβοΈGerman Prelim CPI m/m. Monthly inflation in Germany is expected to decelerate to 0.0% from 0.3%.
βWanna know more about EUR/USD price movements β
βAre you looking for GBP/USD trading opportunities β
βHow will USD/CAD perform in the near future β
π§Learn more about major currency pairs' price movement in our weekly technical review.
βAre you looking for GBP/USD trading opportunities β
βHow will USD/CAD perform in the near future β
π§Learn more about major currency pairs' price movement in our weekly technical review.
π Bar charts are a valuable tool for traders, offering a clear view of price movements, trends, and potential market reversals. Available on platforms like Binolla, these charts allow traders to analyze the Open, High, Low, and Close (OHLC) prices for specific periods, making it easier to spot key trading opportunities.
π―Similar to Japanese candlesticks, bar charts provide detailed insights into market behavior, helping traders make more informed decisions. Whether youβre looking to refine your strategies or explore new ones, understanding how to use bar charts effectively can give you an edge in your trading sessions. Check out our latest article to learn how to incorporate this powerful method into your trading toolkit!
π―Similar to Japanese candlesticks, bar charts provide detailed insights into market behavior, helping traders make more informed decisions. Whether youβre looking to refine your strategies or explore new ones, understanding how to use bar charts effectively can give you an edge in your trading sessions. Check out our latest article to learn how to incorporate this powerful method into your trading toolkit!
πHow to Properly Use Economic Calendars
Economic calendars are very important even for those who do not use fundamentals in their trading activities. They provide market participants with invaluable information about the events and data reports that may impact various types of assets. Read more about how to use them in trading.
Economic calendars are very important even for those who do not use fundamentals in their trading activities. They provide market participants with invaluable information about the events and data reports that may impact various types of assets. Read more about how to use them in trading.
Dear Binolla Traders,
πΊπΈ US markets are closed on September 2nd for Labor Day, and currency pairs will only be available in OTC mode.
π₯ Exclusive Labor Day Offer:
Use promo code: LABOR2024 and receive 80% extra money on deposits of $100 or more!
Hurry, offer ends September 2nd.
Donβt miss outβuse the code now!
πΊπΈ US markets are closed on September 2nd for Labor Day, and currency pairs will only be available in OTC mode.
π₯ Exclusive Labor Day Offer:
Use promo code: LABOR2024 and receive 80% extra money on deposits of $100 or more!
Hurry, offer ends September 2nd.
Donβt miss outβuse the code now!
πKey Events to Follow (September 2 - 6)
The US labor market data will be the news headliner this week. Apart from that, traders can focus on the BoC meeting and Canadian employment data.
βοΈβοΈβοΈNon-Farm Employment Change. Economists expect the number of new jobs to reach 164,000.
βοΈβοΈβοΈThe BoC meeting. The voting members are likely to vote for a 25 bps interest rate cut on Wednesday.
βοΈβοΈβοΈThe Canadian monthly unemployment rate. Experts expect the unemployment rate in Canada to increase to 6.5% in August.
The US labor market data will be the news headliner this week. Apart from that, traders can focus on the BoC meeting and Canadian employment data.
βοΈβοΈβοΈNon-Farm Employment Change. Economists expect the number of new jobs to reach 164,000.
βοΈβοΈβοΈThe BoC meeting. The voting members are likely to vote for a 25 bps interest rate cut on Wednesday.
βοΈβοΈβοΈThe Canadian monthly unemployment rate. Experts expect the unemployment rate in Canada to increase to 6.5% in August.
πThis Friday, the US labor market data will be released, providing crucial insights ahead of the FOMC meeting, where many expect a potential rate cut by the Fed. Meanwhile, the Bank of Canada is also in focus, with another interest rate cut expected this week, setting the stage for further easing in 2025. Across the globe, the Australian GDP data, forecasted to show signs of economic stagnation, is drawing attention as the RBA prepares to address the economic outlook.
πKeep an eye on these key updates with our weekly fundamental review, as they are likely to impact global markets and shape trading opportunities!
πKeep an eye on these key updates with our weekly fundamental review, as they are likely to impact global markets and shape trading opportunities!
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πAdding an indicator to the Binolla Chart
The Binolla platform allows traders to use more than 20 indicators of different types. The trading platform offers a great interface allowing traders to easily find all its features. By watching this video, you will find out how to add, adjust, and remove technical indicators on the Binolla platform. Briefly, you can do it the following way:
πGo to the tools section;
πChoose from Trend or Oscillator categories;
πClick on the indicator you want to add;
πAdjust its setting.
Watch this and other useful videos in our YouTube Channel
The Binolla platform allows traders to use more than 20 indicators of different types. The trading platform offers a great interface allowing traders to easily find all its features. By watching this video, you will find out how to add, adjust, and remove technical indicators on the Binolla platform. Briefly, you can do it the following way:
πGo to the tools section;
πChoose from Trend or Oscillator categories;
πClick on the indicator you want to add;
πAdjust its setting.
Watch this and other useful videos in our YouTube Channel
πAwesome Oscillator is a momentum indicator by Bill Williams that allows market participants to find reversals as well as to use a variety of trend-following strategies. The indicator can be used alone or in combination with other technical analysis tools. While it is a lagging indicator, one will find it very useful for both signaling enter and exit points.
γ½οΈDiscover all the benefits of Awesome Oscillator in our article. Find basic information about the indicator as well as some interesting strategies for both beginner and professional traders.
γ½οΈDiscover all the benefits of Awesome Oscillator in our article. Find basic information about the indicator as well as some interesting strategies for both beginner and professional traders.
π―The Importance of Setting Realistic Trading Goals
Being realistic about your trading goals is one of the most important things you can do to improve your trading results. While trading may be potentially profitable, not being able to understand how much you can earn in perspective may bring you down. A lot of newcomers come to financial markets without understanding their goals and dreaming about millions of dollars in a matter of days. Here are some recommendations about how to set realistic goals properly.
β‘οΈWith well-defined goals you can better plan your trades and maintain discipline. Unrealistic goals, in turn, lead to frustration. If you know how much you can earn over time, you will be able to focus on this and stick to your strategy. Moreover, this approach will allow you to stay objective about your trading routines.
πThose who have realistic goals can be better at risk management. You will be able to allocate your funds the way to avoid excessive risks and move towards your goal consistently. Along with protecting your investments, you will be able to develop a sustainable trading practice. In general, setting realistic goals is not only about outlining the amount you want to receive over time but also about building a foundation for future success.
Being realistic about your trading goals is one of the most important things you can do to improve your trading results. While trading may be potentially profitable, not being able to understand how much you can earn in perspective may bring you down. A lot of newcomers come to financial markets without understanding their goals and dreaming about millions of dollars in a matter of days. Here are some recommendations about how to set realistic goals properly.
β‘οΈWith well-defined goals you can better plan your trades and maintain discipline. Unrealistic goals, in turn, lead to frustration. If you know how much you can earn over time, you will be able to focus on this and stick to your strategy. Moreover, this approach will allow you to stay objective about your trading routines.
πThose who have realistic goals can be better at risk management. You will be able to allocate your funds the way to avoid excessive risks and move towards your goal consistently. Along with protecting your investments, you will be able to develop a sustainable trading practice. In general, setting realistic goals is not only about outlining the amount you want to receive over time but also about building a foundation for future success.
πKey Events to Follow (September 9-13)
The US yearly inflation data will be the main event to focus on this week. Additionally, it is worth looking at the results of the ECB meeting and the UK monthly GDP data.
βοΈβοΈβοΈThe US CPI y/y. The US yearly inflation is expected to slow down from 2.9% to 2.6% in August.
βοΈβοΈβοΈThe UK GDP m/m. The UK economy is expected to show a 0.2% monthly growth.
βοΈβοΈβοΈThe ECB meeting. The European Central Bank is expected to cut rates by 60 bps on Thursday.
The US yearly inflation data will be the main event to focus on this week. Additionally, it is worth looking at the results of the ECB meeting and the UK monthly GDP data.
βοΈβοΈβοΈThe US CPI y/y. The US yearly inflation is expected to slow down from 2.9% to 2.6% in August.
βοΈβοΈβοΈThe UK GDP m/m. The UK economy is expected to show a 0.2% monthly growth.
βοΈβοΈβοΈThe ECB meeting. The European Central Bank is expected to cut rates by 60 bps on Thursday.