Happy Monday! Join our weekly webinar today at 13:00 MT time (GMT+3)!
You will get:
📣 Market-moving Forex news
📈 Technical outlook for major currency pairs
📅 Economic calendar for the weak ahead
➡ Register here: https://register.gotowebinar.com/register/7370340194692190209
You will get:
📣 Market-moving Forex news
📈 Technical outlook for major currency pairs
📅 Economic calendar for the weak ahead
➡ Register here: https://register.gotowebinar.com/register/7370340194692190209
📅 5 important things you need to know about this week!
🔸RBA Governor Mr. Lowe Speaks (Tue, 01:00 MT time) – traders will get clues on the current economic situation to forecast the further direction of the AUD.
🔹NZ Retail Sales (Wed, 1:45 MT time) – the forecast is encouraging. A chance for the NZD to recover.
🔸Canadian Core Retail Sales (Wed, 15:30 MT time) – the forecast is unknown. Will the CAD get support in times of NAFTA uncertainties?
🔹Jackson Hole Symposium (Thu, Day 1) – a big event where representatives of the financial markets and central banks meet. Clues on the economic conditions are anticipated.
🔸US Core Durable Goods Orders (Friday, 15:30 MT time) – the forecast is encouraging. Chances for the USD to regain previous highs.
💥 Hot topics:
🔺US-China talks are resumed. Parties will meet on Aug 22 and Aug 23 to discuss trade disputes. Let’s see whether they agree on something new.
🔺Brexit negotiations are in the arena again. UK Brexit secretary will go to Brussels this week to continue negotiations with the EU. On Thursday, the UK will begin publishing plans on how to keep the economy afloat next March if no trade deal is achieved.
🔺Some news on the NAFTA deal is in place this week. The forecast is cloudy. Any impact on markets is anticipated.
🔸RBA Governor Mr. Lowe Speaks (Tue, 01:00 MT time) – traders will get clues on the current economic situation to forecast the further direction of the AUD.
🔹NZ Retail Sales (Wed, 1:45 MT time) – the forecast is encouraging. A chance for the NZD to recover.
🔸Canadian Core Retail Sales (Wed, 15:30 MT time) – the forecast is unknown. Will the CAD get support in times of NAFTA uncertainties?
🔹Jackson Hole Symposium (Thu, Day 1) – a big event where representatives of the financial markets and central banks meet. Clues on the economic conditions are anticipated.
🔸US Core Durable Goods Orders (Friday, 15:30 MT time) – the forecast is encouraging. Chances for the USD to regain previous highs.
💥 Hot topics:
🔺US-China talks are resumed. Parties will meet on Aug 22 and Aug 23 to discuss trade disputes. Let’s see whether they agree on something new.
🔺Brexit negotiations are in the arena again. UK Brexit secretary will go to Brussels this week to continue negotiations with the EU. On Thursday, the UK will begin publishing plans on how to keep the economy afloat next March if no trade deal is achieved.
🔺Some news on the NAFTA deal is in place this week. The forecast is cloudy. Any impact on markets is anticipated.
Have you seen it? EUR/USD rose to 1.16!
☝ This pair acts as a barometer of the market’s risk sentiment. Traders await positive news of the US-China trade talks. In addition, the US President Donald Trump has recently criticized the Federal Reserve’s rate hikes, and the USD weakened.
However, EUR/USD came close to resistance of a trend line and 50-day MA. The euro needs to get above 1.1635 to return to 1.1725. Support is at 1.15.
⬇ If there are no big results from trade talks (this is likely given the fact that the negotiations are not at the top level) and the Fed’s minutes (released today at 21:00 MT time) is hawkish, EUR/USD will turn down.
⬆ If the Fed’s minutes show that the US central bank is concerned with trade tensions, we may see EUR/USD break above the trend line and test higher levels.
☝ This pair acts as a barometer of the market’s risk sentiment. Traders await positive news of the US-China trade talks. In addition, the US President Donald Trump has recently criticized the Federal Reserve’s rate hikes, and the USD weakened.
However, EUR/USD came close to resistance of a trend line and 50-day MA. The euro needs to get above 1.1635 to return to 1.1725. Support is at 1.15.
⬇ If there are no big results from trade talks (this is likely given the fact that the negotiations are not at the top level) and the Fed’s minutes (released today at 21:00 MT time) is hawkish, EUR/USD will turn down.
⬆ If the Fed’s minutes show that the US central bank is concerned with trade tensions, we may see EUR/USD break above the trend line and test higher levels.
#BreakingNews
Another important factor to consider!
Two ex-advisers of the US President Donald Trump are facing prison sentences - and one of them saying Trump told him to commit a crime.
Former Trump campaign manager Paul Manafort was found guilty on tax and bank fraud charges, while Trump’s former personal lawyer, Michael Cohen, pleaded guilty to a range of charges. Cohen also testified that Trump directed him to commit a crime by arranging payments ahead of the 2016 presidential election to silence two women who said they had had affairs with Trump.
➡ No doubts that Trump faces serious political problems. This is negative for the USD.
Another important factor to consider!
Two ex-advisers of the US President Donald Trump are facing prison sentences - and one of them saying Trump told him to commit a crime.
Former Trump campaign manager Paul Manafort was found guilty on tax and bank fraud charges, while Trump’s former personal lawyer, Michael Cohen, pleaded guilty to a range of charges. Cohen also testified that Trump directed him to commit a crime by arranging payments ahead of the 2016 presidential election to silence two women who said they had had affairs with Trump.
➡ No doubts that Trump faces serious political problems. This is negative for the USD.
Hello traders! The minutes of the Federal Reserve’s August meeting showed that the US central bank doesn’t plan to change the pace of its monetary policy tightening. The USD broadly strengthened.
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Hello, everyone! It’s an active trading Friday. Join the market!
📰 Main topics
- There was no progress during the 2 days of the US-China trade talks. Both parties are preparing new tariffs.
- Fears of no-deal Brexit remain high.
- There was some political uncertainty in Australia, but the things are returning to normal. Scott Morrison won a Liberal Party leadership battle and will replace Malcolm Turnbull as prime minister. AUD rose on Friday after Thursday’s selloff (S: 0.72; R: 0.73, 0.7350).
- Oil rose as global supply declined (WTI at 68.41, Brent at 75.28).
- US regulator (SEC) rejected requests to list 9 cryptocurrency funds, citing continuing concerns about manipulation and market surveillance. BTC/USD spiked above $6800 on Wednesday but didn’t manage to hold there and trades just above $6500.
🔔 Coming soon
17:00 GMT – Fed Chair Powell will speak in Jackson Hole. The speech will draw great attention after President Trump criticized central bank’s policy.
💡 Trade ideas
EUR/USD
BUY – 1.1630; SL 1.1575; TP1 – 1.1730; TP2 – 1.1780; TP3 – 1.1850.
BUY – 1.1500; SL 1.1445; TP1 – 1.1600; TP2 –1.1730; TP3 – 1.1780.
EUR/GBP
BUY – 0.9030; SL 0.8975; TP1 – 0.9115; TP2 – 0.9735.
XAU/USD
BUY; TP – 1196; SL – 1186.
📰 Main topics
- There was no progress during the 2 days of the US-China trade talks. Both parties are preparing new tariffs.
- Fears of no-deal Brexit remain high.
- There was some political uncertainty in Australia, but the things are returning to normal. Scott Morrison won a Liberal Party leadership battle and will replace Malcolm Turnbull as prime minister. AUD rose on Friday after Thursday’s selloff (S: 0.72; R: 0.73, 0.7350).
- Oil rose as global supply declined (WTI at 68.41, Brent at 75.28).
- US regulator (SEC) rejected requests to list 9 cryptocurrency funds, citing continuing concerns about manipulation and market surveillance. BTC/USD spiked above $6800 on Wednesday but didn’t manage to hold there and trades just above $6500.
🔔 Coming soon
17:00 GMT – Fed Chair Powell will speak in Jackson Hole. The speech will draw great attention after President Trump criticized central bank’s policy.
💡 Trade ideas
EUR/USD
BUY – 1.1630; SL 1.1575; TP1 – 1.1730; TP2 – 1.1780; TP3 – 1.1850.
BUY – 1.1500; SL 1.1445; TP1 – 1.1600; TP2 –1.1730; TP3 – 1.1780.
EUR/GBP
BUY – 0.9030; SL 0.8975; TP1 – 0.9115; TP2 – 0.9735.
XAU/USD
BUY; TP – 1196; SL – 1186.
#ECONOMICCALENDAR
📣 5 important things you need to know about this week!
▫US Prelim GDP (Wed, 15:30 MT time) – the USD really needs support to return to previous highs. The forecast is weak, but if the actual data is greater, the USD will rise.
▪ANZ Business Confidence (Thu, 04:00 MT time) – traders will trade the NZD on the businesses’ survey. The figure above 0 is good for the economy and the NZD, below 0 is negative for the economy and the NZD.
▫AUD Private Capital Expenditure (Thu, 04:30 MT time) – traders will get clues on the change in the total inflation-adjusted value of businesses’ new capital expenditures. The forecast is encouraging. The AUD has chances to rise.
▪CAD GDP (Thu, 15:30 MT time) – GDP is a leading measure of the economic activity. If the actual data is greater than the forecast, the CAD will go up.
▫EUR CPI Flash Estimate (Fri, 12:00 MT time) – the forecast is neutral. If the actual data exceeds the forecast, the EUR will rise.
💥Hot topics:
⚪ Turkish markets are back. Last week Turkish markets were on a break, but since Monday, they have been resuming trading. It may create significant moves of the Turkish lira. Be careful!
⚪ Wavy Italy. Italy isn’t happy that the EU ignores the migrant’s deal reached in June. As a result, Italy is ready to veto the EU budget. Uncertainties will pull the EUR down.
⚪ NAFTA, again NAFTA. The US and Mexico are near to reach the NAFTA deal. However, it will take about one week to negotiate with Canada. News will create volatility in the USD, the MXN, and the CAD.
📣 5 important things you need to know about this week!
▫US Prelim GDP (Wed, 15:30 MT time) – the USD really needs support to return to previous highs. The forecast is weak, but if the actual data is greater, the USD will rise.
▪ANZ Business Confidence (Thu, 04:00 MT time) – traders will trade the NZD on the businesses’ survey. The figure above 0 is good for the economy and the NZD, below 0 is negative for the economy and the NZD.
▫AUD Private Capital Expenditure (Thu, 04:30 MT time) – traders will get clues on the change in the total inflation-adjusted value of businesses’ new capital expenditures. The forecast is encouraging. The AUD has chances to rise.
▪CAD GDP (Thu, 15:30 MT time) – GDP is a leading measure of the economic activity. If the actual data is greater than the forecast, the CAD will go up.
▫EUR CPI Flash Estimate (Fri, 12:00 MT time) – the forecast is neutral. If the actual data exceeds the forecast, the EUR will rise.
💥Hot topics:
⚪ Turkish markets are back. Last week Turkish markets were on a break, but since Monday, they have been resuming trading. It may create significant moves of the Turkish lira. Be careful!
⚪ Wavy Italy. Italy isn’t happy that the EU ignores the migrant’s deal reached in June. As a result, Italy is ready to veto the EU budget. Uncertainties will pull the EUR down.
⚪ NAFTA, again NAFTA. The US and Mexico are near to reach the NAFTA deal. However, it will take about one week to negotiate with Canada. News will create volatility in the USD, the MXN, and the CAD.
Do you trade gold? Check this!
😎
The metal retraced 23.6% of April-August decline.
FBS analyst suggests to buy gold on the pullback down: BUY – 1196; SL – 1181; TP1 – 1222; TP2 – 1264; TP3 –1285.
😎
The metal retraced 23.6% of April-August decline.
FBS analyst suggests to buy gold on the pullback down: BUY – 1196; SL – 1181; TP1 – 1222; TP2 – 1264; TP3 –1285.
Happy Friday! Never skip an opportunity to learn. 📈 Here are some important candlesticks & patterns to memorize:
#ECONOMICCALENDAR
❗5 important things you need to know about this week
🔶RBA Rate Statement (Tue, 07:30 MT time) – a change of the interest rate isn’t anticipated. But the RBA statement will create moves on the market.
🔷BOC Rate Statement (Wed, 17:00 MT time) – the CB doesn’t plan to change the interest rate but clues on the monetary policy will be important for the CAD.
🔶US ISM Non-Manufacturing PMI (Thu, 17:00 MT time) – data based on responses of purchasing managers will determine the direction of the USD.
🔷CAD Jobs data (Fri, 15:30 MT time) – jobs data are always highly important for the currency. If the actual figures are greater than the forecast, the CAD will go up.
🔶US Jobs data (Fri, 15:30 MT time) – data of three important jobs indicators will be out. Be ready for high volatility on markets.
🔥 Hot topics:
⚪The NAFTA deal is still unsolved. Mr. Trump twitted that there is no political necessity to keep Canada in the new NAFTA deal. If parties don’t come to a fair agreement, Canada will be out. The NAFTA negotiations will keep affecting the CAD this week.
⚪Brexit. Possibilities of no-deal. On weekends, the Brexit secretary Mr. Raab said that he is sure about the Brexit deal but still has a plan in case of no-deal. Theresa May said that she won’t let the second referendum happen and won’t surrender.
The EU negotiator Mr. Barnier said that he is strongly opposed to the UK proposals and advised manufacturers of European cars to use less British-made parts after Brexit.
Let’s see whether there is more news this week.
❗5 important things you need to know about this week
🔶RBA Rate Statement (Tue, 07:30 MT time) – a change of the interest rate isn’t anticipated. But the RBA statement will create moves on the market.
🔷BOC Rate Statement (Wed, 17:00 MT time) – the CB doesn’t plan to change the interest rate but clues on the monetary policy will be important for the CAD.
🔶US ISM Non-Manufacturing PMI (Thu, 17:00 MT time) – data based on responses of purchasing managers will determine the direction of the USD.
🔷CAD Jobs data (Fri, 15:30 MT time) – jobs data are always highly important for the currency. If the actual figures are greater than the forecast, the CAD will go up.
🔶US Jobs data (Fri, 15:30 MT time) – data of three important jobs indicators will be out. Be ready for high volatility on markets.
🔥 Hot topics:
⚪The NAFTA deal is still unsolved. Mr. Trump twitted that there is no political necessity to keep Canada in the new NAFTA deal. If parties don’t come to a fair agreement, Canada will be out. The NAFTA negotiations will keep affecting the CAD this week.
⚪Brexit. Possibilities of no-deal. On weekends, the Brexit secretary Mr. Raab said that he is sure about the Brexit deal but still has a plan in case of no-deal. Theresa May said that she won’t let the second referendum happen and won’t surrender.
The EU negotiator Mr. Barnier said that he is strongly opposed to the UK proposals and advised manufacturers of European cars to use less British-made parts after Brexit.
Let’s see whether there is more news this week.
#CENTRALBANK
💼 Although the market expected a cautious RBA at today’s meeting, the statement remained similar to the previous one. The central bank didn’t take into consideration the recent hike of the mortgage rate by Westpac. As a result, AUD/USD got a chance to go up.
❗ However, the rise didn’t last for long. The surge of the USD affected the pair’s direction. Up to now, AUD/USD has been trading near the support at 0.7160 (the trend line). If it’s able to break below this level, risks of the further fall will increase. The next support is at 0.7121.
💼 Although the market expected a cautious RBA at today’s meeting, the statement remained similar to the previous one. The central bank didn’t take into consideration the recent hike of the mortgage rate by Westpac. As a result, AUD/USD got a chance to go up.
❗ However, the rise didn’t last for long. The surge of the USD affected the pair’s direction. Up to now, AUD/USD has been trading near the support at 0.7160 (the trend line). If it’s able to break below this level, risks of the further fall will increase. The next support is at 0.7121.
#BREAKING_NEWS
GBP/USD jumped by 150 pips today on reports that both the UK and Germany decided to abandon some crucial demands over Brexit in order to facilitate an agreement.
❗ Be careful, for now it’s only a media report. There may be a pullback. Important levels are marked on the chart.
GBP/USD jumped by 150 pips today on reports that both the UK and Germany decided to abandon some crucial demands over Brexit in order to facilitate an agreement.
❗ Be careful, for now it’s only a media report. There may be a pullback. Important levels are marked on the chart.
UPD. GBP/USD is back below 1.29 as Germany denied a Brexit breakthrough. The volatile days! 📈📉
💥 Cryptocurrencies tumbled for the second day
BTC/USD slid to levels around $6300 today. It is down from yesterday’s high at $7390.
There were news on Wednesday that Goldman Sachs decided to hold back its plans to set up a crypto trading desk. In addition, one of the oldest trading platforms ShapeShift AG said it will begin asking users for personal information. Although this may turn out to be good in future, it currently hurts the sentiment.
The next support for BTC/USD is at $5900. Remember that with FBS you can benefit from selling Bitcoin as well? ✊
BTC/USD slid to levels around $6300 today. It is down from yesterday’s high at $7390.
There were news on Wednesday that Goldman Sachs decided to hold back its plans to set up a crypto trading desk. In addition, one of the oldest trading platforms ShapeShift AG said it will begin asking users for personal information. Although this may turn out to be good in future, it currently hurts the sentiment.
The next support for BTC/USD is at $5900. Remember that with FBS you can benefit from selling Bitcoin as well? ✊
#ECONOMICCALENDAR
🔔 5 important things you need to know about this week!
▪ US PPI (Wed, 15:30 MT time) – the USD needs strong support to exit the 95-95.50 channel. The forecast is encouraging; however, the actual data should beat the forecast to pull the USD up.
▫ BOE Official Bank Rate (Thu, 14:00 MT time) – the market doesn’t expect any changes in the interest rate this time. However, clues on the future monetary policy will determine the further direction of the pound.
▪ ECB Meeting (Thu, 14:45 MT time) – the market looks for the clues on the further tapering of the quantitative easing. If the bank is hawkish, the euro will rise.
▫ US CPI (Thu, 15:30 MT time) – inflation figures are the major driver of the currency. If the actual data is greater than the forecast, the USD will appreciate.
▪ US Retails Sales (Fri, 15:30 MT time) – retail sales is one of the most important economic indicators. As a result, it affects the currency a lot. A rise of the figure will support the USD.
🔥 Hot topics:
🔻 The NAFTA deal is still in the arena. Countries haven’t come to the agreement yet. As a result, the Canadian dollar is weak and is waiting for the support to appreciate against the USD.
🔺 OPEC/non-OPEC coalition meeting. Oil allies will meet on September 11 to discuss a new production strategy. Countries agreed to increase the oil production but haven’t come to an agreement on steps. The event will affect the oil market.
📰 Let’s see whether there is more news this week.
🔔 5 important things you need to know about this week!
▪ US PPI (Wed, 15:30 MT time) – the USD needs strong support to exit the 95-95.50 channel. The forecast is encouraging; however, the actual data should beat the forecast to pull the USD up.
▫ BOE Official Bank Rate (Thu, 14:00 MT time) – the market doesn’t expect any changes in the interest rate this time. However, clues on the future monetary policy will determine the further direction of the pound.
▪ ECB Meeting (Thu, 14:45 MT time) – the market looks for the clues on the further tapering of the quantitative easing. If the bank is hawkish, the euro will rise.
▫ US CPI (Thu, 15:30 MT time) – inflation figures are the major driver of the currency. If the actual data is greater than the forecast, the USD will appreciate.
▪ US Retails Sales (Fri, 15:30 MT time) – retail sales is one of the most important economic indicators. As a result, it affects the currency a lot. A rise of the figure will support the USD.
🔥 Hot topics:
🔻 The NAFTA deal is still in the arena. Countries haven’t come to the agreement yet. As a result, the Canadian dollar is weak and is waiting for the support to appreciate against the USD.
🔺 OPEC/non-OPEC coalition meeting. Oil allies will meet on September 11 to discuss a new production strategy. Countries agreed to increase the oil production but haven’t come to an agreement on steps. The event will affect the oil market.
📰 Let’s see whether there is more news this week.
📈 On Monday, the GBP and the EUR rose because of the positive news on the Brexit deal.
👨 The European Union's chief Brexit negotiator, Michel Barnier, said that the agreement between the parties may be reached in 6-8 weeks.
💼 Moreover, there are talks that the parties will hold an additional meeting on November 13. Before that, we anticipate summits on September 19-20 and October 18-19.
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👨 The European Union's chief Brexit negotiator, Michel Barnier, said that the agreement between the parties may be reached in 6-8 weeks.
💼 Moreover, there are talks that the parties will hold an additional meeting on November 13. Before that, we anticipate summits on September 19-20 and October 18-19.
Do you think that it's so easy to keep the Brexit campaign on track? Try to drive this Brexit bus😱
https://advisa.se/en/research/brexit-bus/
Advisa
Brexit Bus
Take back control of the infamous campaign bus and ride the value of the pound since the EU referendum.
☕ Trade ideas for Wednesday
EUR/USD failed to overcome the resistance at 1.1640 yesterday. The pair’s awaiting the ECB meeting on Thursday. It's now testing levels below the weekly pivot point at 1.1580 and can fall further to 1.1530. Commerzbank analysts expect EUR/USD to slide to May and June lows at 1.1508/10.
The economic calendar for the pair includes the eurozone industrial production, US PPI and and the Fed governor Brainard’s speach.
💲 Trade remains the key topic
The CAD strengthened on the rumors that Canada was ready to make a concession in its trade talks with the United States. USD/CAD made a big fall on Tuesday. FBS technical analyst suggests a trade: SELL USD/CAD at 1.3045 with SL at 1.3100 and several TPs – TP1 at 1.2945, TP2 at 1.2895, and TP3 at 1.2800.
The main risk for the trade is that the anxiety over the trade dispute between China and the United States hurts traders’ risk appetite and makes them switch from the CAD back to the USD.
EUR/USD failed to overcome the resistance at 1.1640 yesterday. The pair’s awaiting the ECB meeting on Thursday. It's now testing levels below the weekly pivot point at 1.1580 and can fall further to 1.1530. Commerzbank analysts expect EUR/USD to slide to May and June lows at 1.1508/10.
The economic calendar for the pair includes the eurozone industrial production, US PPI and and the Fed governor Brainard’s speach.
💲 Trade remains the key topic
The CAD strengthened on the rumors that Canada was ready to make a concession in its trade talks with the United States. USD/CAD made a big fall on Tuesday. FBS technical analyst suggests a trade: SELL USD/CAD at 1.3045 with SL at 1.3100 and several TPs – TP1 at 1.2945, TP2 at 1.2895, and TP3 at 1.2800.
The main risk for the trade is that the anxiety over the trade dispute between China and the United States hurts traders’ risk appetite and makes them switch from the CAD back to the USD.
Hello, traders! Here’s you Forex market update, trade well!
Topic of the day: US-China trade war
🇺🇸 vs 🇨🇳
- New tariffs. Trump’s administration officially announced 10% tariff on additional $200 billion worth of Chinese goods starting from Sep 24. In 2019, the duties will rise to 25%.
- China will likely fight back. There are no news about its response yet, but earlier Chinese authorities have said that they would retaliate with levies on $60 billion of US goods.
- The reaction in currency pairs was muted as traders were ready to such turn of events. China is keeping a firm grip on the yuan, the news flow out of Europe continues to be positive, which is helping European currencies.
💡 Technical analysis & ideas
- The USD index formed a gap down and went below 100-day MA – a negative sign.
- If EUR/USD closes above 1.1720, it will be able rise to 1.1750 and 1.18. Support is at 1.1668.
- GBP/USD is testing the key resistance at 1.3175 (100-day MA). If it manages to get above this point, we’ll target 1.3215 and 1.3280.
- FBS analyst recommends selling USD/CAD at 1.2985 with a SL at 1.3040 and TP at 1.2885, 1.2730, and 1.2670.
Topic of the day: US-China trade war
🇺🇸 vs 🇨🇳
- New tariffs. Trump’s administration officially announced 10% tariff on additional $200 billion worth of Chinese goods starting from Sep 24. In 2019, the duties will rise to 25%.
- China will likely fight back. There are no news about its response yet, but earlier Chinese authorities have said that they would retaliate with levies on $60 billion of US goods.
- The reaction in currency pairs was muted as traders were ready to such turn of events. China is keeping a firm grip on the yuan, the news flow out of Europe continues to be positive, which is helping European currencies.
💡 Technical analysis & ideas
- The USD index formed a gap down and went below 100-day MA – a negative sign.
- If EUR/USD closes above 1.1720, it will be able rise to 1.1750 and 1.18. Support is at 1.1668.
- GBP/USD is testing the key resistance at 1.3175 (100-day MA). If it manages to get above this point, we’ll target 1.3215 and 1.3280.
- FBS analyst recommends selling USD/CAD at 1.2985 with a SL at 1.3040 and TP at 1.2885, 1.2730, and 1.2670.
#ForexTips
Here’s a wise quote about trading:
The most important price on any chart is the price at which you entered the market. People become strongly, keenly and emotionally attached to the price at which they bought or sold. © Steve Nison
📗 Find out more about trader’s psychology and dealing with emotions from our educational article: https://fbs.com/analytics/guidebooks/traders-psychology-59
Here’s a wise quote about trading:
The most important price on any chart is the price at which you entered the market. People become strongly, keenly and emotionally attached to the price at which they bought or sold. © Steve Nison
📗 Find out more about trader’s psychology and dealing with emotions from our educational article: https://fbs.com/analytics/guidebooks/traders-psychology-59
FBS
Trader's psychology and key rules of Forex trading
Find out how to look at the Forex market clearly and think in a cold-headed fashion. Learn the psychological techniques of successful traders.
Hello everyone!
We are rolling closer to the weekend but there are still plenty of trade opportunities on Friday. 👌
EUR/USD is disappointed by the weaker-than-expected PMIs (one of the region’s key economic indicators). As a result, there’s a reason for a correction down after the previous advance.
👱💼 FBS analyst expects to pick up the pair at 1.1710 and buy with SL at 1.1655 and TP at 1.18, 1.1940 and 1.20.
📅 Later today, all eyes will be fixed on USD/CAD as traders await Canadian data release.
We are rolling closer to the weekend but there are still plenty of trade opportunities on Friday. 👌
EUR/USD is disappointed by the weaker-than-expected PMIs (one of the region’s key economic indicators). As a result, there’s a reason for a correction down after the previous advance.
👱💼 FBS analyst expects to pick up the pair at 1.1710 and buy with SL at 1.1655 and TP at 1.18, 1.1940 and 1.20.
📅 Later today, all eyes will be fixed on USD/CAD as traders await Canadian data release.
