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xtreamforex

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  1. Technical Analysis on EUR USD or GBP USD EUR/USD Pair Traded Near to the Psychological at Level 1.23 The EUR/USD pair is traded at the level by the psychological level at 1.23 according to the press time that was failed to the foothold that will seem above at the level by fourth straight trading day on this Tuesday. If we see the repeated rejection above at the level by 1.23 that indicates the uptrend exhaustion to validate the 14-day Relative Strength Index Bearish Divergence. The Quick progress seems above at the level by 1.23 to the uptrend going on the other hand the downside level seems at the violation support at the level by 1.2215 to the temporary bear reversal that will shift to the risk sub at the level 1.21. GBP/USD Pair Seems at Bulls Eye With two Week Old Previous Support to level 1.3600 The GBP/USD pair picks up near the level of 1.3628 during this Wednesday according to the Asian Session. In Addition, the successful trading seems beyond the 50 HMA bullish to the MACD and the GBP/USD to the Past 100 HMA to the upside of the pair. Be that as it may, potential gain moves past-1.3645 will have an uneven street as the month to month top close to 1.3705 and March 2018 low around 1.3710 stands tall to test the GBP/USD strength. On the other side, 50-HMA and 100-HMA, separately around 1.3615 and 1.3550, limit the transient drawback of the GBP/USD costs. Should GBP/USD bears rule past-1.3550, there are various backings around 1.3530-20 in front of featuring the sub-1.3500 zone. Get more information visit https://xtreamforex.com
  2. Technical Analysis on EUR USD or USD CAD EUR/USD Pair Goes to the Bids to Top Around Level At 1.2300 The EUR/USD pair will poke at the 32 months high as compare to the previous day that would take round at the level by 0.12% intraday during this early Thursday. The pair will be jumped to the multi-month high after clearing the December top. The EUR/USD buyers are successfully trading above at the level by 10-SMA and go upward to the sloping trend line to the MACD to the flirts bulls. At present, the upside momentum seems to ascend trendline at the level by 1.2370 now to the round figure .2400. In actuality, a disadvantage break of the early-month high close to 1.2270 can re-test the 10-day EMA level of 1.2230. However, trendlines extended from early November and December 09, individually around 1.2215 and 1.2200, will test the statement's further shortcoming. For a situation where the EUR/USD bears retake control below at the level 1.2200, the 1.2000 and the early November high close to 1.1920 will pick up the market's consideration. USD/CAD Pair Ignore the Falling Wedge on 1D The USD/CAD seems around the mid at the level by 1.2700 the recent downside to the momentum during the Thursday trading session. The pair dropped below the level by 10-day SMA to the previous day. All things considered, two skips off 1.2688, the multi-month low blazed before about fourteen days, are on the USD/CAD dealers' radar right now. However, any further drawback will be tested by the lower line of the expressed example close to the level of 1.2590. Then, potential gain freedom of 10-day SMA, at 1.2827 presently, will eye to affirm the expressed bullish example with a break over the 1.2870 obstruction line. In spite of the fact that a fruitful move past-1.2870 hypothetically demonstrates a slow run-up past 1.3500, 50-day SMA close to 1.2970, the 1.3000 thresholds, and numerous tops underneath 1.3400 can challenge the bulls during the ascent. Get more information visit https://xtreamforex.com
  3. Technical Analysis on EUR USD or GBP USD EUR/USD Pair Shows On Bulls to at the level by 1.2275 to Resistance Confluence The EUR/USD is the mark to the 0.15% to the intraday gain that currently around at the level by 1.2275 to keeping the previous days to the momentum inside the ascending trend channel to the formation to the Wednesday Asian Session. Moreover, the currency major has printed the three-day winning streak to the strong RSI and the Bullish MACD in which it will turn highlights to the strength to the resistance channel to the monthly high. It should, notwithstanding, be noticed that the pair's capacity to cross 1.2275 will invigorate the multi-month high glimmered prior while peering toward the April 2018 pinnacle encompassing 1.2415. During the potential gain, the 1.2300 edges can offer a moderate end while the March 2018 high of 1.2476 can challenge EUR/USD purchasers thereafter. Then, the past opposition line, presently upholds, at 1.2230, confines the pair's pullback pushes forward of the channel uphold close to 1.2210. In the event that at all the EUR/USD traders hide in around at the level 1.2210, the 1.2200 adds a channel to the disadvantage focusing on the mid-month low around 1.2130/25. GBP/USD Pair Extends to the 21 days SMA to Bounce off to Resistance Line The GBP/USD pair picks the bids near to the level by 1.3535 to the 0.27% intraday in this Wednesday’s to the Asian Session. To stretch the cable and U-turn to the 21 days SMA to the buyers to falling to the trend line. To seems the RSI conditions to the trading above the 21 days SMA to the upward sloping trend to the bulls that will set the level by the monthly peak to the surrounding level by 1.3620. Should authentic purchasers keep the reins past-1.3620, March 2018 low around 1.3710 will be the key? On the other side, the 1.3500 edges can offer prompt help in front of the 21-day SMA, as of now around 1.3430. However, GBP/USD bears are less inclined to intercede except if seeing a day by day close beneath the multi-day-old helpline, at 1.3255 at this point. For more information visit https://xtreamforex.com
  4. Technical Analysis on Gold & Silver XAU/USD Pair Goes Intraday High Below at Level $1,900 to US Stimulus Updates The Gold price seems near at the level of $1,880 during the Tuesday Asian Session. The pair will stretch the latest pullback to the level by $1,871 to the previous downbeat. If we have a look at the market moves of the market optimism to the US coronavirus aid package news. Not all things sign by President Trump crossed the House on Tuesday as policymakers cast a ballot 322-to-87 to supersede one of Mr. Trump's rejections, underscoring the broad notoriety of the military enactment, which approves a salary increase for the country's soldiers, said The New York Times. On the other hand the S&P 500 backdrop to the wall street to the benchmarks that will refresh the tops to the futures prints to the mild gain to the 3,700 according to the press time. The unless providing the trendline that was following from the November 30 at the level by $1,878 and now the gold prices eye is at the level by $1,900 threshold. XAG/USD Grinds to the Level Back to the Asian Session to Level by $26.50 to More Than 3.0% The silver prices are substantially higher on the first trading day to the final trading week. Moreover, the volume of the many markets participants to the particular Europe and North America that is still away from for the Christmas and New Year Celebrations to the fundamental developments. The XAG/USD trade gains will be going more than the 3.0% on the day to the precious metal will rally above the level by $26.00 during the early trading session. The outcome is that stocks are extensively higher, US securities are lower (likewise reflecting desires for more inventory as the public authority issues obligation to support its upgrade) and unrefined petroleum, mechanical metals, and valuable metals markets are comprehensively higher. USD is likewise barely more fragile on the day, however, FX markets conditions have been somewhat choppier. To know more visit https://xtreamforex.com
  5. Major Economic Events in the 1st week of August 2020 Get all updates on international economy, Business news, Global market news, world business, and global business trade on Business Standard. Major Economic Events in the Market this week are as following: 3 August 14:00 USD ISM Manufacturing Employment Index It shows the business conditions in the US manufacturing sector to predict the overall conditions of the US. It will be consensus with the 48.4 and the previous forecast was 52.6 it will predict that it will seem 50-50 positive and negative effect for USD. 4 August 22:45 NZD Employment Change and Unemployment Rate (Q2) Unemployment Rate: It shows the unemployed workers divided by the total civilian force. It will be expected that if the rate is up it will weaken the New Zealand economy on the other side decrease in the Figure will seem as positive or bullish for the NZD when the increase is seen as the negative. Employment Change: Employment change measures the change in the number of employed people. It will be expected to implications for consumer spending to economic growth. High is seen as positive for the NZD and low reading is seems negative. 5 August 9:00 EUR Retail Sales (YoY) (Jun) Retail Sale measures the performance in the retail sector in the short term. It will reflect the rate of change in sales. It will expected usually the positive economic growth in Bullish while the low reading seems Negative. 14:00 USD ISM Non-Manufacturing (PMI)(Jul) It shows the business conditions in the US non-manufacturing sector. The non-manufacturing sector does not influence either positively or negatively. 6 August 06:00 GBP Bank of England Monetary Policy It will analyze the quarterly report in the inflation projections based on the Monetary Policy committee bases. Expected that high reading is seen as positive for the GBP. 7 August 12:30 USD NFP (Nonfarm Payrolls) The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank. The number is also subject to strong reviews in the upcoming months, and those reviews also tend to trigger volatility in the forex board. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish), although previous months reviews and the unemployment rate are as relevant as the headline figure, and therefore market's reaction depends on how the market assets them all. For More information about Economic Events click here: https://xtreamforex.com/economic-calendar/
  6. Technical Overview of EUR/USD, and AUD/USD Currency Pairs!! The EUR/USD pair was at the edge with the above level at 1.1450 with the year to date high at the level 1.1492. Moreover, the pair will be rose up to a higher level at 1.1467 that will be dropped sharply to level 1.1400 before going to snapping back again. If we talk about the Today the pair will still at the higher for the EUR. It could reach level 1.1492. On the downside, the pair will be a breach at the minor level with the minor support of 1.1425 that will build up the momentum. The declining upward pressure got a lift, though a minor one as EUR rose to a high at the level 1.1467 yesterday (20 Jul) before settling marginally higher at 1.1444 (+0.16%). From here, the possibility for a break of 1.1492 has expanded however taking into account the still 'provisional' force, it is left to be checked whether EUR can extend out its benefit to 1.1540. In general, the uplifting standpoint for EUR is regarded as flawless except if there is an entrance of 1.1375. The Pair were previously closed at level 1.1444. The support and resistance level for the pair will be 1.1398 and 1.1444. AUD/USD AUD/USD rises to 0.7033, up 0.20% on a day, during the early Tuesday. The pair as of late profited by peppy RBA minutes while moving the earlier day's positive thinking. Dealers currently expect remarks from the RBA Governor Philip Lowe for a supported course. Minutes of the most recent RBA financial approach stated, "Individuals concurred that there was no compelling reason to modify the bundle of measures in Australia in the current condition." This opposes the prior expectations that the policymakers are stresses over the second introduction of the coronavirus (COVID-19). The Pair were previously closed at level 0.7013. The support and resistance level for the pair will be 0.7008 and 0.7024 Upcoming ECONOMIC Event’s · AUD RBA Governor Lowe Speech · CAD Retail Sales m/m · CAD Core Retail Sales m/m www.xtreamforex.com
  7. Basic Terms before Going to Start Forex Trading !!! There are different types of things you will need to learn before going to trade in the Forex. In this article we will some of the important terms to understand the basic concept of the Forex trading that is as given below: Pip Pip stands for 'Point In Percentage’. It will be defined as the fourth digit after the decimal point in the currency price. Copy Trading Copy trading is one of the better options for the beginner. It will allow the trader to copy the trades of the experienced trader by choosing their trades. CFD Trading The CFD stands for Contract for difference. In the present scenario, the CFD Forex trading is one of the most common ways for people to trade Forex. To trade in CFD's in which you basically creating the contract to buy the asset at a certain currency price. Scalping Scalping is defined as the sophisticated form of the Forex trading in which the trader will open and close the order very quickly. Create a Demo Account To start Forex trading you will need to open the demo account with the reliable ECN broker. Choose the offers of the Bonuses and the promotions given by the broker to start risk-free trading. Spread Spread is generally defined as the difference between the Ask and the Bid price of the currency pair. Technical Analysis Technical Analysis will indicate the market movements in the historical charts. Fundamental Analysis Fundamental analysis will analyze the Forex market by the economic, social, and political forces that will affect the currency pairs. Bull Market (Bullish) A bull market will be defined as the bullish market in which the currency price expected to go up. Bear Market (Bearish) A bear market will be defined as the Bearish market in which the currency price will expect to going down. Up Coming Event's · EUR EU Leaders Summit · GBP BoE Governor Bailey Speech For More in Formation visit Economic calendar
  8. Today we are discussing Technical and Fundamental Overview of USD/JYP and GBP/USD USD/JPY Will Tracks the Risk of Barometer Go Above 107.00 The USD/JPY will extends and rises at the 107.64 upto the 0.11% on a day according to the Tokyo Session that will ticked down on the Mood On This Monday. The pair will initially go down from 107.51 to 107.45 during the early session in Asia. It will go to the run up attack on Thursday near the top level 107.75. The US president Donald Trump tweets defies the Surge in the Coronavirus numbers that will affect the world's largest economy.As per the latest data recorded by the figure above the 50,000 into the start of the month. Moreover the pair will be previously closed at the near 107.40 that will go below the 50 day SMA. It will seem reverse to the path directing towards 108.00. Technical Overview of GBP/USD The GBP/USD will take the bid and go near the 1.2490 up to the 0.05% during this Monday on Asian Session. The Cable pair will extend the bounce off on this Friday with the bounce off 200 bar SMA. It will reach the head and shoulder pattern formation according to the 4 hour chart. The neckline of the Pair shows the bullish pattern that will join the Retracement level on 10-29 level that will add strength to the upside barrier. It will increase the conditions with the RSI trading condition that will go to the sustained trading beyond the 200-Bar SMA. The pair was previously traded at 1.2483. The resistance level for the pair will be 1.2497 and the support level for the pair will be 1.2473. Forex Economic News Although probably the market may more fluctuate at evening as United States will present the data of ISM Non-Manufacturing PMI. This survey will be based on 400 non-manufacturing (or services) firms' purchasing and supply executives, within 60 sectors across the nation, by the Institute of Supply Management (ISM). And even a Bank of CANADA(BOC) will present the data on business. The bank will present the survey report of the business which are going on & the business which are stopped or trying to resume. The latest news came that the American Rapper Kanye West has planned to run for US President election 2020.But till now Kanye West didn't announce officially. So, is the news true or its just a publicity stunt! Daily Upcoming Events! EUR Retail Sales m/m EUR Retail Sales y/y USD ISM Non-Manufacturing PMI For More Updates visit our website :- www.xtreamforex.com
  9. Important Things To Know Before You Start Trading Forex is one of the most traded markets all over the globe. In the present scenario, there are large number of people gain knowledge of forex trading to gain some trading sessions. Moreover, if you have the effective knowledge of forex trading and the various affecting currencies, you can create lots of money. With the help of forex trading you will make a reliable amount of money. In case if you don't know about the forex trading then you will need to learn trading by online classes. If you want to start forex trading there are some important things you need to know before going to start the trading to earn well without losing all your investments overnight. Try to Choose the Reliable Forex Trading Broker To start the forex trading you will need to choose the reliable broker. There are several things you will need to know before going to start trading. Try to research the reliable and the best broker that is right for you. ● Conditions to Start Trading: You will need to find the broker that gives you the minimum spreads, reliable commissions if any, swap charger on the currency pairs in which you trade. ● Minimum Amount of Deposit: You will need to find out the minimum amount of deposit required that will offer by the broker. Check the margin/ leverage that can be used. ● Available Currency Pairs: In the present scenario there is the various number of forex broker that offers the currency pairs and the CFD's on the stocks, indices, precious metals, oil, etc. Check that the broker offers the currency pairs and the CFD's in which you want to trade. ● Broker Must have Dedicated Customer Support: Check that your broker must have reliable customer support(Via email, phone, or live chat) and always check the languages they offer support. ● Contests and Bonuses: Try to Grab the Bonuses offered by the broker to the new clients. Check the bonuses that are given by the broker and if they offer any type of contests then keep you motivated throughout your trading. It's necessary to have a proper partner close by, so pick carefully and search for an agent with a long history on the Forex Market. Learn the Forex Market Movements In today’s world all the Forex brokers have an education session in which you will learn all types of resources that will help you to start trading. For Example you try to watch the tutorial session of the forex trading, watch online videos, and try to join the webinar related to the forex trading. ● Try to learn the forex trading with the basics is one of the important things to spotting the forex market opportunities with different levels. Start your trading by analyzing market trends. Moreover, you will need to understand the effect of the market by monitoring the daily forex technical analysis, Technical analysis, trading signals, Trading news, data releases, and some of the economics news to know about the market trends. Open a Demo Account Forex demo accounts are free, and all dealers offer them. You should simply register at the specialist's site and download the trading platforms. The most well-known stages are MetaTrader 4 and MetaTrader 5. When you have a demo account you can begin setting orders progressively without taking a chance with your cash. Here are a few reasons why a Demo Account is advantageous to traders: ● Learn to Run Metatrader Platform: The MT4 and MT5 stages have numerous helpful highlights, and you need to realize them well to use the commodity. You should try out things like graphs, economic pointers, and expert advice. ● Different Order Types: There are a few request types accessible in the MT4 and MT5 stage and it's necessary to get them. The most widely recognized requests are: advertising request, stop losses, take benefit, and cutoff and stop orders. Using these requests accurately will assist you with increasing your benefit and limit your losses. ● Create Some Strategy: Since Demo accounts utilize virtual cash, you can investigate how the market moves and test out various trading techniques. You can submit the same number of requests as you need and assess your trading execution after some time. The significant thing is to continue improving your procedure and to adjust it to changing market movements. ● Currency Pairs and CFD’s: The most trading currency pairs are EUR/USD and numerous trainees pick it for their first trades. Other important currencies pairs include USD/JPY ("The Gopher"), GBP/USD ("The Cable"), USD/CAD, USD/CHF ("The Swissie"), and AUD/USD ("The Aussie"). When you've done the above things and procured the abilities required, you can continue with opening a live record with the agent you've picked. Remember that it requires some investment for a Forex trader to build up a drawn-out attractive methodology. Always remember that it will take some time for the Forex trader to develop the long term profit strategy. But once you learn all the important things about the forex trading then you will able to take the benefits of the Forex Market. Most Economic Event’s 1. NZD Retail Sales q/q 2. USD Fed Chair Powell Speech 3. GBP Retail Sales m/m For More information about the release time of news and its impact visit Economic Calendar Page!
  10. Important Things To Know Before You Start Trading Forex is one of the most traded markets all over the globe. In the present scenario, there are large number of people gain knowledge of forex trading to gain some trading sessions. Moreover, if you have the effective knowledge of forex trading and the various affecting currencies, you can create lots of money. With the help of forex trading you will make a reliable amount of money. In case if you don't know about the forex trading then you will need to learn trading by online classes. If you want to start forex trading there are some important things you need to know before going to start the trading to earn well without losing all your investments overnight. Try to Choose the Reliable Forex Trading Broker To start the forex trading you will need to choose the reliable broker. There are several things you will need to know before going to start trading. Try to research the reliable and the best broker that is right for you. ● Conditions to Start Trading: You will need to find the broker that gives you the minimum spreads, reliable commissions if any, swap charger on the currency pairs in which you trade. ● Minimum Amount of Deposit: You will need to find out the minimum amount of deposit required that will offer by the broker. Check the margin/ leverage that can be used. ● Available Currency Pairs: In the present scenario there is the various number of forex broker that offers the currency pairs and the CFD's on the stocks, indices, precious metals, oil, etc. Check that the broker offers the currency pairs and the CFD's in which you want to trade. ● Broker Must have Dedicated Customer Support: Check that your broker must have reliable customer support(Via email, phone, or live chat) and always check the languages they offer support. ● Contests and Bonuses: Try to Grab the Bonuses offered by the broker to the new clients. Check the bonuses that are given by the broker and if they offer any type of contests then keep you motivated throughout your trading. It's necessary to have a proper partner close by, so pick carefully and search for an agent with a long history on the Forex Market. Learn the Forex Market Movements In today’s world all the Forex brokers have an education session in which you will learn all types of resources that will help you to start trading. For Example you try to watch the tutorial session of the forex trading, watch online videos, and try to join the webinar related to the forex trading. ● Try to learn the forex trading with the basics is one of the important things to spotting the forex market opportunities with different levels. Start your trading by analyzing market trends. Moreover, you will need to understand the effect of the market by monitoring the daily forex technical analysis, Technical analysis, trading signals, Trading news, data releases, and some of the economics news to know about the market trends. Open a Demo Account Forex demo accounts are free, and all dealers offer them. You should simply register at the specialist's site and download the trading platforms. The most well-known stages are MetaTrader 4 and MetaTrader 5. When you have a demo account you can begin setting orders progressively without taking a chance with your cash. Here are a few reasons why a Demo Account is advantageous to traders: ● Learn to Run Metatrader Platform: The MT4 and MT5 stages have numerous helpful highlights, and you need to realize them well to use the commodity. You should try out things like graphs, economic pointers, and expert advice. ● Different Order Types: There are a few request types accessible in the MT4 and MT5 stage and it's necessary to get them. The most widely recognized requests are: advertising request, stop losses, take benefit, and cutoff and stop orders. Using these requests accurately will assist you with increasing your benefit and limit your losses. ● Create Some Strategy: Since Demo accounts utilize virtual cash, you can investigate how the market moves and test out various trading techniques. You can submit the same number of requests as you need and assess your trading execution after some time. The significant thing is to continue improving your procedure and to adjust it to changing market movements. ● Currency Pairs and CFD’s: The most trading currency pairs are EUR/USD and numerous trainees pick it for their first trades. Other important currencies pairs include USD/JPY ("The Gopher"), GBP/USD ("The Cable"), USD/CAD, USD/CHF ("The Swissie"), and AUD/USD ("The Aussie"). When you've done the above things and procured the abilities required, you can continue with opening a live record with the agent you've picked. Remember that it requires some investment for a Forex trader to build up a drawn-out attractive methodology. Always remember that it will take some time for the Forex trader to develop the long term profit strategy. But once you learn all the important things about the forex trading then you will able to take the benefits of the Forex Market. Most Economic Event’s 1. NZD Retail Sales q/q 2. USD Fed Chair Powell Speech 3. GBP Retail Sales m/m For More information about the release time of news and its impact visit Economic Calendar Page!
  11. Technical Overview of EUR/USD and GBP/USD Currency Pair EUR/USD · EUR traded Higher against USD and closed at 1.0791 EUR/USD closed out Tuesday below 1.07 to print the weakest daily close since April 2017. More importantly, the single currency formed a bearish marubozu candle, implying a continuation of the downtrend. A red marubozu, the one with a large body and little or no shadows, occurs when sellers control the price throughout the day, and is considered very bearish. The back-to-back big red marubozu candles seen on the weekly chart are also painting a bearish picture. According to the Analysis, pair is expected to find support at 1.0786 and a fall through could take it to the next support level of 1.0774 The pair is expected to find its first resistance at 1.0826 and a rise through could take it to the next resistance level of 1.0838. GBP/USD · GBP traded higher against USD and closed at 1.2998 GBP/USD fails to register noticeable moves following a Tuesday’s Doji candlestick. Short-term moves are confined between 50 and 100-day SMA, 61.8% Fibonacci retracement offers immediate resistance. The monthly bottom can please sellers below 100-day SMA. GBP/USD remains a little changed below 1.3000 during early Wednesday. The cable posted a trend reversal Doji candlestick formation the previous day. Though, 50-day and 100-day SMA continue to restrict near-term moves. While the recent Doji favors the pair’s pullback, 61.8% Fibonacci retracement of its November-December 2019 upside, at 1.3055, could lure the buyers ahead of making them confront 50-day SMA level of 1.3067. According to the Analysis, pair is expected to find support at 1.2976 and a fall through could take it to the next support level of 1.2958. The pair is expected to find its first resistance at 1.3036 and a rise through could take it to the next resistance level of 1.3054 Important Economic Events of the Day · USD Building Permits · USD Housing Starts m/m · USD PPI m/m · USD FOMC Member Kashkari Speech More information about the release time of news and its impact visit Economic Calendar Page!
  12. Technical Overview of EUR/USD and GBP/USD Currency Pair EUR/USD · EUR traded Higher against USD and closed at 1.0791 EUR/USD closed out Tuesday below 1.07 to print the weakest daily close since April 2017. More importantly, the single currency formed a bearish marubozu candle, implying a continuation of the downtrend. A red marubozu, the one with a large body and little or no shadows, occurs when sellers control the price throughout the day, and is considered very bearish. The back-to-back big red marubozu candles seen on the weekly chart are also painting a bearish picture. According to the Analysis, pair is expected to find support at 1.0786 and a fall through could take it to the next support level of 1.0774 The pair is expected to find its first resistance at 1.0826 and a rise through could take it to the next resistance level of 1.0838. GBP/USD · GBP traded higher against USD and closed at 1.2998 GBP/USD fails to register noticeable moves following a Tuesday’s Doji candlestick. Short-term moves are confined between 50 and 100-day SMA, 61.8% Fibonacci retracement offers immediate resistance. The monthly bottom can please sellers below 100-day SMA. GBP/USD remains a little changed below 1.3000 during early Wednesday. The cable posted a trend reversal Doji candlestick formation the previous day. Though, 50-day and 100-day SMA continue to restrict near-term moves. While the recent Doji favors the pair’s pullback, 61.8% Fibonacci retracement of its November-December 2019 upside, at 1.3055, could lure the buyers ahead of making them confront 50-day SMA level of 1.3067. According to the Analysis, pair is expected to find support at 1.2976 and a fall through could take it to the next support level of 1.2958. The pair is expected to find its first resistance at 1.3036 and a rise through could take it to the next resistance level of 1.3054 Important Economic Events of the Day · USD Building Permits · USD Housing Starts m/m · USD PPI m/m · USD FOMC Member Kashkari Speech More information about the release time of news and its impact visit Economic Calendar Page!
  13. Technical Overview of AUD/USD and USD/JPY Currency Pair AUD/USD · AUD traded Higher against USD and closed at 0.6686 AUD/USD sustains the bounce above 0.6700 amid mixed Australian NAB Business Survey and Home Loan data. The spot draws support from a risk-on rally in the Asian stocks, as coronavirus fears take a back seat. AUD/USD is reporting marginal gains despite below-forecast NAB data. The 14-day RSI is reporting a bullish divergence. Australia's Home Loan data bettered estimates by a big margin. That alongside the uptick in the equities could help the Aussie eke out notable bounce. According to the Analysis, pair is expected to find support at 0.6673 and a fall through could take it to the next support level of 0.6663. The pair is expected to find its first resistance at 0.6703 and a rise through could take it to the next resistance level of 0.6713. USD/JPY USD traded higher against JPY and closed at 109.74 USD/JPY holds onto recovery gains from 21-day SMA. A sustained break of monthly high will divert the bulls towards the yearly top. 200-day SMA acts as key support. USD/JPY registers 0.10% gains while rising to 109.85 by the press time of the pre-European session on Tuesday. In doing so, the quote justifies the bullish candlestick formation portrayed the previous day. As a result, prices are now gearing up to the monthly top surrounding 110.05, a break of which will escalate the latest recovery towards January 17 high near 110.30. According to the Analysis, pair is expected to find support at 109.65 and a fall through could take it to the next support level of 109.58. The pair is expected to find its first resistance at 109.85, and a rise through could take it to the next resistance level of 109.92. Important Economic Events of the Day · GBP Manufacturing Production m/m · GBP GDP q/q · GBP GDP m/m · GBP GDP 3m/3m More information about the release time of news and its impact visit Economic Calendar Page!
  14. Technical Overview of AUD/USD And EUR / USD Currency Pair AUD/USD AUD traded High against USD and closed at 0.6700 AUD/USD takes the bids to 0.6711 after the RBA leaves its benchmark interest rates unchanged during early Tuesday. The pair previously dropped amid fears of coronavirus outbreak. AUD/USD keeps losses as RBA's Lowe reiterates the “gentle turning point” description. AUD/USD continues to trade in the red despite upbeat comments by RBA's Lowe. The central bank head said the economy is passing through a gentle turning point. China's Caixin services PMI for January missed estimates. According to the Analysis, pair is expected to find support at 0.6693 and a fall through could take it to the next support level of 0.6678 The pair is expected to find its first resistance at 0.6741 and a rise through could take it to the next resistance level of 0.6756. EUR/USD EUR traded lower against USD and closed at 1.1042 Amid risk reset, the EUR/USD pair is currently trading near 1.1034, down 0.10% on the day, having faced rejection near 1.11 on Monday. 1. EUR/USD is losing altitude amid risk reset in the financial markets. 2. Coronavirus scare has eased with China's decision to inject liquidity. 3. All eyes remain on Eurozone data, ECB Lagarde’s speech and US PMIs. According to the Analysis, pair is expected to find support at 1.1035 and a fall through could take it to the next support level of 1.1027. The pair is expected to find its first resistance at 1.1059 and a rise through could take it to the next resistance level of 1.1067 Important Economic Events of the Day · NZD Employment Change q/q · USD ISM Non-Manufacturing PMI · USD EIA Crude Oil Stocks Change · USD ISM Non-Manufacturing PMI More information about the release time of news and its impact visit Economic Calendar Page!
  15. What Type of Trader are you? In the Forex trading market for beginners, it is very important to learn how to do forex trading and what type of trader you are. Learning is important before doing anything and especially in forex trading because the forex trading market is very volatile and there is most of the chance to lose money. Read to know about what type of forex trader you are. Four types of Forex Traders:- 1. The Scalper Trader: - Scalping is a trading style specializes in profiting off small price changes, generally after a trade is executed and becomes profitable. Scalpers hold their trades for a few seconds to a few minutes at the most. Their main motive is to grab very small amounts of pips as many times as they can in a day. 2. The Day Trader: - Day Traders are those who take their trades at the beginning of the day and then with the end of the day they closed their traders. They finished the day with either a profit or a loss. These kinds of traders do not hold their trades overnight. 3. The Swing Trader: - Swing traders are those who hold their trades for many days. This type of traders can’t monitor their charts throughout the day and they have taken too much time to close their trades as they always wish to swing the market so they can close their trade in profit. 4. The Position Trader: - The Position Traders are those who hold their trades for several weeks, days, months and sometimes for years. Position Trading is pretty much the opposite of Day Trading. This is the trading that suits for a super patient, witty and long-sighted traders who have a real feel for the markets. You become the best trader in the future. Join XtreamForex
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