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Euro Surges as Markets Reprice Coronavirus Impacts, Risk Aversion Continues
Global stock market crash on fear of Wuhan coronavirus pandemic continues today, while treasury yields are pressured too. Euro and Swiss Franc are currently...
CADJPY Faces Selling Pressure after Touching 1-Year High
CADJPY has been in the red over the last four days, but it is still trading within an upward sloping channel, which has been holding since...
U.S. Economic Growth Unchanged in the Fourth Quarter at 2.1% Annualized
Fourth quarter GDP growth was unrevised at 2.1%, as markets expected.
Personal consumption expenditure was revised down a tick to 1.7% from 1.8%...
EUR/USD Sets Its Sights On 1.0970 Resistance
EUR/USD is approaching $1.0950, a 2-week high in its 5th straight bullish session. Whilst coronavirus fears are dragging on the greenback, hopes of stimulus...
US Open – Virus Fears Intensifies, Johnson Plays Hardball, Oil’s Demand Shock, Gold Rises
US and European equities are poised to open lower after the CDC announced the first possible community spread of the virus in the US....
CADJPY Faces Selling Pressure after Touching 1-Year High
CADJPY has been in the red over the last four days, but it is still trading within an upward sloping channel, which has been holding since...
Sunset market Commentary
Markets
Corona related uncertainty (or should we already call it panic) continued driving global trading. It is still almost impossible to asses both the geographical...
U.S. Economic Growth Unchanged in the Fourth Quarter at 2.1% Annualized
Fourth quarter GDP growth was unrevised at 2.1%, as markets expected.
Personal consumption expenditure was revised down a tick to 1.7% from 1.8%...
EUR/USD Sets Its Sights On 1.0970 Resistance
EUR/USD is approaching $1.0950, a 2-week high in its 5th straight bullish session. Whilst coronavirus fears are dragging on the greenback, hopes of stimulus...
GOLD Could Soon Surge
After touching the 1,625.00 level for a second time on Wednesday, on Thursday, the commodity returned to trade near the 1,650.00 mark.
In regards to...
EUR Gains On Possible German Stimulus…
The common currency gained against the USD yesterday as reports surfaced that Germany’s finance minister seems to be considering easing the fiscal spending rules...
USD/JPY Tests 110.00 Level
On Thursday morning the USD/JPY currency exchange rate was once again testing the support of the 110.00 level.
In general, the rate was expected to...
GBP/USD Plummets On Thursday
On Thursday, the GBP/USD plummeted, as the UK announced its stance in trade negotiations with the EU. By the middle of the day's London...
US Open – Virus Fears Intensifies, Johnson Plays Hardball, Oil’s Demand Shock, Gold Rises
US and European equities are poised to open lower after the CDC announced the first possible community spread of the virus in the US....
EUR/USD Breaks Resistance Levels
During the early GMT trading hours of Thursday's trading, the EUR/USD broke out of the ascending wedge pattern and passed the resistance of the...
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Losing Safe-Haven Status, Japanese Yen Weakens Despite Rising Global Uncertainty
Despite the recovery over the past few days, Japanese yen has still lost -1.6% against US dollar in the first 3 weeks of February....
The Implications of the Phase One Trade Deal for the U.S., China and the Globe
Highlights
The Phase One trade deal marks a détente in the U.S.-China trade war, rolling back tariff rates, reducing the risk of further tariff...
Will COVID-19 Force the Fed’s Hand?
The Federal Open Market Committee (FOMC), which cut rates 75 bps in 2019, has kept its target range for the fed funds rate unchanged...
Japan – Feeling Blue
Executive Summary
Recent Japanese data have underperformed expectations, suggesting that the economy is taking longer than anticipated to recover from the consumption tax hike...
01 – Fundamental Analysis Overview
As you have already read, Fundamental analysis is studying the economic fundamentals of a currency, country, or economy. Economic fundamentals really is a very...
01 – Support and Resistance
For the bushy-tailed and bright-eyed newcomer, technical analysis of the Forex market often becomes an obsession.
I know for me it was.
Although you will learn...
00 – Trading Psychology 101
Now that you've studied the basics of technical and fundamental analysis, as well as the importance of proper risk management techniques, it's about time...
00 – Risk Management 101
In forex trading, there are several factors that you can't really control. While you can be able to make predictions based on fundamental analysis...
00 – A Beginner’s Guide to Fundamental Analysis
What is Fundamental Analysis?
Fundamental analysis mostly refers to the use of economic data to predict forex price movements. While technical analysis focuses on historical...
00 – A Beginner’s Guide to Technical Analysis
Technical analysis refers to the study of past price action as a guide in forecasting future price movements. This involves looking at candlestick formations,...
01 – How to Start Trading in 4 Easy Steps
1. Register with OctaFX by opening an account
Having an account allows you to access your personal area on our website and to trade...
01 – How Does Forex Work?
How Does Forex Work?
Forex trading is the simultaneous buying of one currency and selling of another
These two currencies make up what is...
Trade Bitcoin the Right Way
To say recent history has been an emotional roller-coaster for Bitcoin would be an understatement!
The market opened 2017 at a price of $966.0 and...
A Basic Introduction to the Different Order Types Used in the Forex Market
Have you ever found yourself unsure of what order to use, or where tocorrectly position it? If you have, then this article will help inproviding a good foundation. It's surprising how often we find tradersthat do not understand even the most basic entry order techniques, yetthey feel they're ready to tackle the live market. Make sure that youfully understand and are COMFORTABLE with your broker's order systembefore stepping into a live trading environment.
What are the Best Market Entry Strategies When Trading Forex?
One of the most important aspects of Forex trading is choosing the right entry point, the most successful moments in which it is profitable...
A Look at the US Employment Situation Report
Why do I need to know this? I’m a technical trader!
Have you ever had one of those trading setups that boasted a staggering amount...
Forex Forecasts: Basic Forex Forecasting Techniques
It's not an exaggeration to say that the Forex market is the largest financial market in the world, especially with a daily volume of...
Get to Know the Positive Aspects of Being a Forex Trader
Life as a forex trader is exhilarating and rewarding. In an exciting market, expert traders have to be goal-oriented, mentally sharp and emotionally intelligent. To reach trading goals, successful forex traders need to acquire optimal knowledge and a focused mindset. On a constant basis, traders have to practice analysis, strategizing and diligence. Eventually, this provides a positive and proactive way of thinking that is beneficial for both personal life and career goals.
Making use of a Trading Journal
Even for the most experienced traders, the above is still true. For that reason, memorizing the subtle nuances of each trade is of the utmost importance, as this is how we recognize mistakes and ultimately mature as traders. How we do this is simple: keep a trading journal.
Apply the Best Mindsets for Efficient and Enjoyable Trading
An optimal mindset is key to achieving efficient and enjoyable trades. With a volatile forex market, traders need a reliable mindset to manage all trading activities. By obtaining a strong and optimistic mental attitude, you can properly accomplish trades and vital tasks for success. Applying the right mindset allows a focused way of thinking that can minimize anxiety and reduce the chances of emotional trading. To have a healthy outlook towards the forex market, practice the best mindsets for optimal forex trading.
Getting What You Really Want
I used to do an exercise in the Peak Performance 101 workshop entitled "Getting What You Want". The exercise starts out with a question:...
Greed and Fear in Trading
Financial markets are driven by two powerful emotions - greed and fear'. This is an old Wall Street saying we've heard more times than we care to remember, but still holds true today. Whether one admits it or not, greed and fear are two drivers that have a big impact on our lives. Unfortunately, these emotions carry over to our trading, which, if not controlled, can have a detrimental effect on your account.
Tricks of the Trade – The Head and Shoulders Pattern, Part 1
How to catch better entries with the Head and Shoulders Pattern? In this series of articles learn the different ways you can trade the head and shoulders chart pattern. The first part of this article deals with setting more realistic target levels on the head and shoulders pattern.
Rising and Falling Wedge Patterns
When talking about reversal patterns in Forex trading, few are more familiar or widely-known than rising and falling wedges. But why so? Well, wedge...
How To Trade Pullbacks With 5 Key Technical Tools
Trading forex can be both interesting and rewarding if one can spend the time learning how it really works. First you have to build a base or foundation. That includes developing a strategy that works for you, finding good money management techniques and training your mind to be disciplined in all facets of trading. Remember, at the end of the day you must muster up enough courage to pull the trigger for any strategies developed to work.
Examples of Evolving Head and Shoulders Pattern
The above example shows how you could have traded this pattern. After the neckline support had been formed with prices testing support near the left shoulder, price rallied to make a higher peak (head) and bouncing off to form the right shoulder.
Moving Averages Explained
Among technical analysts, moving averages (MA) are one of the more commonly used indicators. In the right hands, these tools can be exceedingly powerful!
The...