Ever heard of little thing called traders psychology? I know everyone and their brother talks about it, but the truth is that is because its arguably one of the most important aspects of trading and being a trader. A lot of people usually parallel traders in their mind with macho, can’t lose type of people. […]
With few exciting data releases on the calendar next week, attention will likely drift to central bank speeches and meeting minutes, developments on the US tax reform front and the UK Autumn budget. RBA, ECB and Fed publish their minutes Three central banks will release the minutes of their recent monetary policy meetings: the Reserve […]
Yesterday, the ruble managed to keep resistance levels at 60.50 for USDRUB. During the day, the currency pair lost 0.9%, down to 59.68, as oil fell by 1.3% to $61.10 per barrel (Brent). This could be viewed as a clear sign of the Russian currency’s strength, as its movements occurred alongside a decline in oil […]
International organizations including the International Monetary Fund and the World Bank have been warning of dangerous debt levels in China. A debt crisis in the world’s second largest economy might seem like a frightening prospect for the rest of the world, however a closer look reveals that under the current state of affairs, one such […]
AUDNZD followed a downtrend from a 1½ -year high of 1.1288 reached on October 24 to a one-month low of 1.0986 on November 15. Currently, the pair is consolidating around 1.1120, but if the market fails to post a lower low, then the risk would shift to the upside. The technical indicators give bullish signals in the short-term. The […]
GBPJPY has a neutral bias in the short term and has been pivoting around the 149.00 level. Momentum is very weak in the market and this is indicated by the flat RSI. The 50 and 200-period moving averages on the 4-hour chart are converging and a bearish crossover is imminent. Near-term risk is tilted to […]
In Asian equities, the Japanese Nikkei 225 and Topix indices managed to extend yesterday’s gains though their advancing was subdued; the Nikkei added 0.2% and the Topix 0.1%. Both benchmarks rose by more than 1% earlier in the day, before retreating to stand only slightly higher on the day. Moreover, they are both lower on […]
1. The U.S. dollar moved lower against other major currencies on Friday, but losses were expected to remain limited after an important U.S. tax reform bill was passed by the House of Representatives. The U.S. House of Representatives on Thursday approved a broad package of tax cuts, which will now be debated by the Senate. […]
The dollar opened weaker on Friday in Asia on news that several officials from Trump’s campaign were subpoenaed for Russia-linked documents despite markets relief on the US tax story after lawmakers approved the tax plan in the House of Representatives. Consequently, investors turned risk-averse during the session, pushing the safe-haven assets higher. According to the Wall Street Journal on Thursday, […]
The Trump Administration is back in the spotlight with news of a report that Special counsel Robert Mueller’s investigators have issued a subpoena to more than 12 officials in the Trump administration election campaign for documents related to Russia. According to the Wall Street Journal; Mueller’s team issued the subpoena in mid-October, requesting documents and […]
USDCAD has been in a consolidation phase during the last two weeks. The market is soft and is trapped between the 50 and 200-day moving averages. Trend signals are weak and momentum is neutral. The recent bullish bounce found resistance at the 50% Fibonacci of the decline from 1.3793 to 1.2061. Prices are currently pivoting […]
Major currencies were moving sideways during the European session on Thursday as investors were widely anticipating whether Republicans would pass their tax code in the House of Representatives later today. Economic releases out of the Eurozone, the US, the UK, and Canada were also in focus but had a moderate impact on the markets. The […]
Trading can be really confusing right? I mean – S&R, Heinki-Ashi candlesticks, shadows, hammers and retracements – I mean what do those even mean?! Well, I know because I write about them, but not everyone writes about trading on a daily basis. Ok let’s at least set a starting point….see what I did there? Pivot […]
EURAUD has posted a strong rally over the week, flying from 1.5081 to a five-month high of 1.5605 (+3.50%) on early Wednesday. However, the pair paused its steep uptrend soon after as the market became overbought, retracing the 23.6% Fibonacci level of the aforementioned upleg at 1.5480. The short-term bias in the four-hour chart remains bullish given that EURAUD is […]
NZDUSD has a bias that is tilted to the downside during the past week, with trend indicators supporting this view. A bearish crossover of the 20 with the 50-period moving average on the 4-hour chart and an RSI below 50 are indicators of weakness in the market. Looking at the broader picture, NZDUSD is in […]
1. The dollar rebounded from four-week lows against the yen today as global markets regained some of their risk appetite after a sharp sell-off in stocks and the greenback over the past week. As share prices rebounded across Asia and Europe, the dollar climbed around 0.2% to 113.09 yen, up from lows of 112.47 yen […]
In Asia, major benchmarks were posting gains for the most part during today’s trading, putting a halt to losses from previous sessions. The Japanese Nikkei 225 and Topix indices added 1.5% and 1.0% respectively. All but one industry sector – energy – finished higher in the Topix, Japan’s broader gauge of equity performance. Hong Kong’s […]
Weakened prospects on the US tax reforms continued restricting the dollar’s gains in Asia despite Wednesday’s encouraging data cementing a third-rate hike this year, while a mixed employment report in Australia did little to support the aussie. On Wednesday, two Senate Republicans expressed their opposition to the tax plan, claiming that they would not support a plan which favours […]
The US Labor Department released data on Wednesday showing the consumer price index edged up by 0.1% in October after climbing by 0.5% in September. The modest increase in consumer prices was in line with market expectations. CPI excluding food and energy prices climbed by 0.2% in October after inching up by 0.1% in the […]
USDJPY is in a broad neutral trend as the market remains trapped in a range between 108–114 during the past 8 months. In the short-term, the pair rose towards the upper end of the range but has found strong resistance and reversed back down from a high of 114.73. The bullish phase from 107.31 has […]
Following a disappointing report on Australian wage growth on Wednesday, the Australian Bureau of Statistics is due to give an outline on the state of the labor market at 0030GMT on Thursday. Unlike wage forecasts which projected a rise in earnings, analysts anticipate the economy to create fewer jobs in October, maintaining the unemployment and participation rates steady at their previous levels. If the […]
Markets remained in risk-off mode in European trading on Wednesday, with risk assets coming under pressure while safe-havens flourished. The US dollar extended its losses against the yen despite another batch of solid data out of the United States today. The euro rallied to a one-month high against the greenback, but the pound remained range-bound. […]
So you are a new trader – you see every broker and their brother (do brokers have brothers?) offering a demo account with virtual funds, allowing you test the waters of trading. While a great (and by now standard) service, is a demo account actually helpful for new traders? Yes and no, the biggest […]
Inflation readings on Tuesday suggested that British pockets will remain squeezed ahead of the Christmas shopping season, as consumer prices continued growing steadily by 3.0% in October, potentially flagging another disappointing month for retailers. With Brexit negotiations trapped in a deadlock and British real wage growth showing no signs of a significant rise, annual retail sales in October are […]
EURJPY is neutral in the medium term but in a shorter time frame the pair is in a bullish phase. The market has been consolidating gains made after a rally took EURJPY to the mid-134 handle, the highest level since November 2015. Since the end of September, prices have been moving sideways in a range with […]
The Russian ruble seems to have run out of luck. Yesterday, the currency lost 1.5% against the dollar and 2.5% against the euro, with this drop coming in as a result of several negative factors. The API reported an increase in oil inventories, which may be confirmed later in the day in the official report. […]
On 9th December, XM will be hosting a seminar with free participation in Athens, Greece, where we look forward to welcoming online investors interested in learning about CFD trading on the MT5 platform. All those who join our seminar will receive a joint presentation of Avramis Despotis and Charalambos Spyridis on the concept and practical […]
Major Asian indices extended yesterday’s decline during today’s trading with some of them recording sizable losses. In Japan, The Nikkei 225 and the Topix fell by 1.6% and 2.0% respectively, further distancing themselves from last week’s multi-decade high closes. The Topix, which more broadly gauges Japanese equity performance, slid for the fifth straight day for […]
On Wednesday, the dollar performed poorly relative to its major counterparts in Asia, failing to recover on the back of a stronger euro and on continued concerns on the future of the US tax overhaul. Its Australian peer, however, was the worst performer during the session, as wage growth readings out of the country missed expectations. The […]
EUR received a boost on Tuesday, as data from Destatis showed German Preliminary GDP climbed to 0.8% in Q3, beating forecasts of 0.6%. In addition, Q1 growth was adjusted higher to 0.9% from the previous 0.7%. The recent increase in exports and business investment appears to be the main driver behind the improvement, as consumer […]
