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EUR/JPY Remains on the Upside — Forecast — April 24th 2017

In this video, the Trading Central looks at the currency pair EUR/JPY for the April 24th session. EUR/JPY — Looking at the intraday 30-min chart, the pair has indeed opened with a bullish gap yesterday, and faced a pullback before rebounding above the 50-period Moving Average. Further advance is also expected above the strong horizontal support at 118.85. The first target is set at yesterday's top at 120.15 and the next target at 120.90.

Pound Sterling Attracts Investors

The market sentiment is favorable for the British currency. The results of the first round of presidential election in France contribute to a rise in the pound's exchange rate. The sterling strengthened against its American counterpart and returned to September's level, facing the resistance at 1.2850. The British currency is moving with bullish bias despite weak economic reports. The pound sterling is gaining ground despite the downbeat report on public sector net borrowing from the United Kingdom. […]

Traders Selling Off RUB

The Russian ruble openEd the session on the Moscow Exchange with an upward correction. After the Russian ruble had hit a 22-month high against the US dollar, some traders preferred to close long positions on the ruble, locking in profits. In the early session, the USD/RUB pair was trading near to the 55.90 level. The recent dynamic of oil prices accounts for correction moves of the Russian currency. At present, traders are digesting rumors that Russia is likely […]

What Is Copper?

Copper is a metal that has been known all around the world since ancient times. From West Africa to China, to Europe, to Central and South America, copper has been mined and worked continuously from as far as back as 8,700 BC. As one of the few independently occuring metals, copper has been used in a multitude of forms, from prehistoric pendants to modern day piping and more. As a highly versatile material, copper can […]

Daily Forex News and Analysis — April 25th 2017

Wall Street finished in the green on Monday as investors piled into risk assets after pro-European candidate Emmanuel Macron won the first round of the French presidential election on Sunday. The Dow Jones rose by 1.05% and the NASDAQ added 1.24% to its value. The US dollar traded lower against the major currencies on Monday following the first round of the French elections. Today, the CB Consumer Confidence is expected at 123.7 vs. 125.6 previously. Gold […]

What Is Scalping — Short Term Forex Trading Strategy?

Many novice forex traders find scalping to be a great technique. Scalping is a very low risk strategy, but nevertheless allows a strong trader to make enormous profits. This trading strategy requires great amount of patience and awareness and although it is low risk, it is still very hard for novice traders to profit from it. Emotions must be set aside as they lead to compulsive actions […]

Ruble Hits New Highs Against US Dollar

Trader's risk appetite is gradually recovering. Today, investors focused their attention on the Russian ruble. The USD/RUB pair reached a fresh low of 55.81. Analysts expect the pair to fall even further amid the following factors. First of all, the election in France. Centrist Emmanuel Macron became the leader of the first round of the presidential race. This news relieved the tension over possible France's withdrawal from the European Union. The second reason for the ruble's […]

USD/CAD: Holding Up Well — Forecast — April 24th 2017

In this video, the Trading Central looks at the currency pair USD/CAD for the April 24th session. USD/CAD — Looking at the intraday 30-min chart, we can see that, despite the increased volatility in the forex market this morning, the pair has held up quite well on the upside. The level at 1.3455 continues to be the key support. Intraday technical indicators are not showing increased downward momentum. On the upside, if the pair manages to reach […]

EUR/USD has Opened on a Bullish Gap — Forecast — April 24th 2017

In this video, the Trading Central looks at the currency pair EUR/USD for the April 24th session. EUR/USD — Looking at the intraday 30-min chart, the pair has indeed opened on the huge bullish gap and is facing slight pullback. It is looking for support at 1.0780. A rebound above this support is expected towards 1.09, which is also a short-term resistance. And the next target is set at 1.0945.

Daily Forex News and Analysis — April 24th 2017

Wall Street finished in thr red on Friday despite the release of bullish economic data and an update from president Trump on his tax reform plan. The Dow Jones fell by 0.15% and the NASDAQ lost 0.11% from its value. The US dollar traded higher against the other major currencies on Friday, buoyed up by the release of bullish housing data, with the Existing Home Sales coming out higher than expected at 5.71 million […]