All about the Forex Market, Trade Ideas and charts
NZDCAD buying on a dip by LearningFX on TradingView.com Could be a buying opportunity on the NZDCAD here on a dip. I am not long yet, may get in after looking at the price action but as always should have a plan laid out before trading. The NZD is still expecting more rate hikes, I believe there’s more to come...
In our earlier post Identifying candlestick patterns part 1 we discussed some major patterns now we will discuss few more important patterns which are easy to identify and can help you out in predicting future outcomes in the Forex market. Candlestick patterns in Forex BULLISH ENGULFING Bullish engulfing is formed by two candlesticks. When a small bearish candlestick is fully covered by...
What is Forex? Foreign Exchange is the currency market and consists of different currency pairs that you’ve probably heard of and these currencies are the form of trade used in different countries around the world. Forex trading is basically buying and selling in currency pairs, these pairs are the value of the two currencies against each other, for example the EURUSD pair, anyone...
There are times of uncertainty, they come around every now and then. Just recently, there was this whole situation with Ukraine and Russia that captured the eyes of the world. When market switches from risk on and risk off sentiment takes over investors usually back away from risky investments and prefer buying safe haven currencies such as the Japanese yen and Swiss...
In real, candles are a source of light so that you may see in the dark . What’s the use of candlesticks here in Forex? Traders use candles to find reversals and trend changes as well as determine entries and exits. Some candlesticks or candlestick patterns are used by traders to predict what the market could do in the near future....
GBPNZD looking for it to retrace upside by LearningFX on TradingView.com After the rate decision from RBNZ last night and then Wheeler being quite hawkish and talking about more interest rate hikes, though he did mention that the price of the currency exchange is too high but as we’ve seen there has been relentless buying in all NZD pairs. Although...
Almost a few hours to the very expected and long awaited ECB Monetary policy event. Here are a few possibilities that you should be aware of: 1. The ECB could cut the refinance rate, which is already priced in. If this happens, we could see a little rise in the EURO short term, as there will be a lot of...
Fundamentals, always a tricky part to trade with, because you don’t know what surprises you can get. Economic data is an important catalyst in the Forex market that tends to capture the attention of every trader. Trading Forex news releases News releases and events, if important can create massive short-term and long-term movements in the Forex market resulting in significant...
I am mostly just going to go through how to identify the Fibonacci retracements over charts in Forex, how to use them to your advantage and how it makes it easy to define some support and resistance levels in the market. Fibonacci tools are widely used, even by the best traders out there. The important Fib levels for me are 38.2% and 61.8%...
Want to become a successful Forex trader? Want to Flourish and thrive in flying colors? If yes, then you are in the right place 😉 How to be a successful Forex trader There are five ingredients that can make you a perfect trader and helps you to survive in the long run. 1. Patience 2. Time management 3. Self assessment 4. Discussion...
