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Forex Blog

Weekly Forex Technical Analysis (Jan 27 — Jan 31, 2020)

Sat, 25 Jan 2020 9:53

EUR/USD

Floor pivot points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.0892	1.0956	1.0991	1.1054	1.1089	1.1153	1.1188

Woodie's pivot points

2nd Sup	1st Sup	Pivot	1st Res	2nd Res
1.0949	1.0976	1.1047	1.1075

...

EUR/USD Fails to Get Boost from Eurozone PMIs

Fri, 24 Jan 2020 20:26

EUR/USD continued to decline today, failing to get a boost from eurozone mixed PMIs. US PMIs were mixed as well, but that did not prevent the dollar from gaining on the euro. Flash US Markit manufacturing PMI fell to 51.7 in January from 52.4 in December, whereas analysts had...

EUR/USD Tumbles on Boring ECB, Fears of Coronavirus

Thu, 23 Jan 2020 19:32

EUR/USD declined today after the uninspiring monetary policy meeting of the European Central Bank, which failed to bolster the currency and turned out a non-event. Meanwhile, the dollar was getting help from fears of the spreading coronavirus, which originated in China. The greenback, being considered a safe currency,...

Forex News

Canadian Dollar Weakens Despite Strong November Retail Sales

Fri, 24 Jan 2020 19:17

The Canadian dollar is weakening against most major currency competitors to close out the trading week. Despite retail sales coming in stronger than expected and inflation matching market expectations, the loonie’s decline could still be driven by the central bank leaving interest rates unchanged.

Pound Falls on BoE Rate Cut Fears, Despite Positive UK Flash PMIs

Fri, 24 Jan 2020 12:50

The Sterling pound today succumbed to pressure and fell from its daily highs despite the release of upbeat UK flash PMIs by Markit Economics in the early London session. The GBP/USD currency pair spiked higher briefly before falling as investors fear a rate cut by the Bank of England at their monetary policy meeting next week.

USD/JPY Halted by 110.29

Fri, 24 Jan 2020 7:50

The US dollar versus the Japanese yen currency pair retraced quite strongly from the 110.29 resistance level. Is this a clue that the bulls are out of the game for a while?

Commodity Blog

Gold Poised for Weekly Gain As Wuhan Coronavirus Spurs Safe-Haven Bid

Fri, 24 Jan 2020 17:53

Gold futures are rising to close out the trading week, buoyed by the outbreak of the Wuhan coronavirus that has...

Natural Gas Rises on Bigger Supply Build Decline, Colder Temperatures

Thu, 23 Jan 2020 16:37

Natural gas futures are rising on Thursday after the US government reported a larger than expected decline in domestic inventories. Natural gas prices are...

Bitcoin Bulls Struggle to Defend $8,450 and Drag Cryptocurrency Market Down

Thu, 23 Jan 2020 14:51

Bitcoin prices have dipped below the $8,450 support level today, and bulls will be hoping to defend this level in order to instigate a bounce back...

Forex Video Zone

Popular Chart Indicators

Sat, 25 Jan 2020 17:22

In this video, you will look at the four important technical indicators. These indicators are also known as oscillators.

MACD:

MACD stands for Moving Average Convergence Divergence and this indicator is used for identifying potential bullish or bearish trend reversal. This indicator consists of a fast and a slow moving average. Also, a histogram that indicates the changes in momentum.

Stochastic::

This indicator is used for detecting potential trend reversals....

Support and Resistance — Candlestick Analysis — Forex Trading

Sat, 25 Jan 2020 15:56

In this video, you will learn about how to apply support and resistance along with candlestick analysis on your chart. For example, look at the EUR/USD daily chart. After five days of gain, the market forms a doji candlestick, which means indecision. This doji is formed at the 1.4409 level, which acts as near-term resistance. As you can see, the pair has failed to break above two times previously....

Elliot wave Theory Explained in a Quick Simple Way — Must Watch!

Fri, 24 Jan 2020 17:38

The Elliott Wave Theory was first published by Ralph Nelson Elliott in 1938. This theory is very popular among many forex traders. Basically, you are looking for turning points in the market, so that you can time your entry and exits. According to this theory, there are five advancing waves, and three declining waves. You can spot the advancing waves in the direction of the trend and the declining waves...