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Recap of European Trades — 23rd October 2018 — EUR and GBP

The euro is showing bullish sentiment today with decreased volatility. The EUR/USD pair is trading near 1.1460. The pair is influenced by the budget issues in Italy at the moment. The credit rating for Italy was downgraded to Baa3 by the rating agency, Moody's. This could lead to the investors losing interest in Italy, in terms of business investments. Also, the macroeconomic data released shows an increase in inflation. The pound is looking bearish today. Investors are […]

Candlestick Patterns — Candlestick Pattern Basics

In this video, you will learn about the basics of candlesticks and how they compare with a bar chart. When you trade using candlesticks, there are candlestick and the candlestick patterns. The patterns normally consist of 2 or 3 candlesticks observed as a group to observe the sentiment of the market. On the left, you have the white candlestick. The open price is lower than the close price. Normally it is indicated in green color. It is […]

Put Your Trade and Leave It — Forex Trading

In this video, you will learn about how to handle a trade after you have placed it on the chart. It is an enjoyable experience to see a trade go in profit and you can close your position in profit. But this is not always the case. Sometimes it takes lots of time before the market makes up its mind to find a direction. In this case, you may not be able […]

Daily Market Roundup — October 23rd 2018

Yesterday session saw the greenback and the yen to gain against other currencies. The EUR/USD pair and has turned bearish and the 1.1444 level below looks supportive. The resistance levels are 1.1480, 1.1547, and 1.1566. The support levels are 1.1444, 1.14, and 1.1353. The USD/JPY pair is facing strong resistance at 112.83. It has fallen once again. The resistance levels are 112.83, 113.56, and 114.18. The support levels are 111.94, 111.66, and 111.43. […]

Correct Definition of Overbought and Oversold in Forex Market

In this video, you will learn about the definition of overbought and oversold conditions, and momentum indicators. If you have used technical indicators like RSI and Stochastics, you would have come across overbought and oversold lines, say at 70 and 30. There are indicators that do not have these lines, for example, MACD indicator. Time to time market reaches overbought or oversold. It means price has reached […]

Candlestick Pattern — Hanging Man and Hammer

The hammer and the hanging man candlesticks look similar but they have different interpretations. Firstly, the hammer is a bullish reversal candlestick, which means you can spot this candlestick at the end of the downtrend. The color of the body does not matter much. But the wick should be two times the size of the actual body. The idea behind this pattern is that the bears initially manage to hold control of the market and then push […]

Recap of Asian Trade — October 22nd 2018: USD/JPY and AUD/USD

Last week saw the demand for the greenback to weaken. This was due to profit taking by bulls trading the greenback. The US dollar index is trading at 95.60 However, the greenback is looking bullish against the yen. The USD/JPY pair is trading at 112.80. There is a political situation between the US and Saudi Arabia at the moment. Investors are eager to see the response from Donald Trump and how Saudi Arabia is going to react. […]

Daily Market Roundup — October 22nd 2018

The greenback is showing more strength against the Japanese yen. The EUR/USD pair turned bullish, but faces strong resistance at 1.1527. The resistance levels are 1.1627, 1.1547, and 1.1566. The support levels are 1.1480, 1.1444, and 1.14. The USD/JPY pair faces strong resistance at 112.83. The resistance levels are 112.83, 113.56, and 114.18. The support levels are 111.94, 111.66, and 111.43. The GBP/USD has turned bearish once again and faces resistance […]

If You Want to Use Candlestick Charts You Should Know This

In this video, you will learn about when you should use the candlestick pattern in your forex trading. Candlestick charts are the most preferred by the traders because they represent trends more clearly and express market sentiment in a clear manner. Candlestick reversal patterns such bearish and bullish engulfing are extremely popular among forex traders. However, it is wrong to base your trading decisions using the candlesticks […]

Candlestick Pattern — Long Legged Doji Candlestick Pattern

This pattern is comprised of a single candlestick. It can be found at both the top of an uptrend and the bottom of a downtrend. It represents indecision in the market, neither the bulls nor the bears are in control. This can be both bullish and bearish reversal pattern. With this pattern, the market closes exactly at where it opened. As you can see from this pattern, initially the market opens, and either the bulls or the bears take […]

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