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Forex Simplified — What Is Forex?

The term forex is short for foreign exchange market. Forex market is the place where different currencies are continually exchanged by millions of people all over the world. Tourists travel from one country to another must exchange their currencies to pay for local products or services. A stack of US dollars would be totally useless to an American tourist hoping to see the sights in London. They would have to exchange their dollars […]

Traders Opt for Selling GBP and EUR

After hitting the 10-month low yesterday, the British currency continues sliding. Expectations that the Bank of England will tighten the monetary policy are weakening with every passing day. In addition to economic reports from the UK, showing that the wages growth slowed down and the inflation remained unchanged, another portion of downbeat news was published today. Investors learnt that the retail sales volume decreased by 0.5% in June while analysts […]

Bitcoin Forecast — July 19th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 19th session. Bitcoin/USD — As you can see, bitcoin has rallied again a little bit during the day here on Wednesday, testing the 7,600 level. There is a lot of supply here and we are starting to form a bit of a shooting star. So, what I suspect the next move is, a drop down to 6,800. This area marked on the chart has to hold. […]

USD Extending Strength Across Board

Investors have played down global risks. So, a more relaxed view is certainly making a positive impact on forex. The USD/JPY pair is seen as a barometer of average trading sentiment. Now, the pair reveals a growing appetite for risk. The USD/JPY pair is trading at 6-month high of nearly 112.00. Apart from the risky trading sentiment, the yen has been weakened for another reason. The Bank of Japan decided to cut purchases of government […]

Jerome Powell Props Up USD

The US currency asserted its strength in the Wall Street trade yesterday. The US dollar index consolidated next to a monthly high at near 95.20. However the index could not extend a further rally. Following the second part of Jerome Powell's testimony, traders decided to close a part of the long bets on the US dollar, locking in profits. Another reason behind closing long bets on the greenback is the report on building permits in the US. This indicator […]

Bitcoin Forecast — July 18th 2018

In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the June 18th session. Bitcoin/USD — As you can see, this market has broken to the upside, about 9.5% up for the trading session. That is a very positive sign obviously. I had suggested that 6,800 could be resistance. But if we can break above there at the 50-day EMA, then we could go much higher. And that is […]

Top Five Best Forex Trading Books

The popularity of the online forex trading community has meant there is a huge market for information on the subject. This means a lot of new blogs, video blogs, and tutorials have been showing up covering forex trading. In fact, there are so many books written on this particular topic that is almost impossible for a trader to find a suitable book to learn from. A good book on forex trading should both provide […]

Oil Prices Hit 3-Month Low

Yesterday's news from the United States set the tone of trading across the board today. While the currency market is under the influence of hawkish comments of the Fed Governor, participants of oil market absorbed the data presented by the American Petroleum Institute. The Brent Crude Benchmark declined below the level of $72 per barrel, which was last seen 3 months ago. As we have already mentioned, the API report triggered a sell-off. According […]

Euro and Pound Trading at Lows. Is There Chance to Recoup Losses?

Jerome Powell expressed confidence that the American economy is ready to withstand another round of rate hikes by the Federal Reserve. His comments boosted volatility in the currency market. The EUR/USD pair returned to last week's lows near the level of 1.1620. This sell-off has contributed to the difference in policy stances of the central banks. While the Federal Reserve intends to normalize the monetary policy, the ECB on the contrary, is looking for reasons to postpone tapering of the quantitative […]

Traders Increasing Long Bets on USD

Jerome Powell's testimony yesterday invited dollar bulls to the market again. As the Fed's leader gave an upbeat outlook for the US economy, the US dollar index bounced to the recent highs above 95.20. Now, market participants are sitting on the sidelines of another speech by Jerome Powell. Today, the policy maker is to deliver the second part of his testimony on Capitol Hill in front of the House Financial Services Committee. He is widely expected to remind […]

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