Forex Videos

Bitcoin — In the last video, it was said that we were looking for a 3-wave correction, into $5,200 to $5000 levels as support, then for a move higher towards $6000. Looking at the chart, that is what exactly has happened so far. We made that ABC move. According to Elliott Wave Theory, most corrections in price are formed of 3 waves (or ABC). The C wave completed on the 55-period Moving […]

The EUR/USD pair fell by 0.57%, to close the week at 1.1784. The GBP/USD pair increased by 0.24%, closing the week at 1.3190 exchange rate. The popular digitial currency litecoin is now trading below $50, after reaching an all time high of $70 last week. Litecoin has fallen 11% in the last 24 hours. The cryptocurrency was released in 2011 wtih the hopes of being the silver to bitcoin's gold. So far, it has the 5th […]

This indicator is constructed to measure the changes over time in the price of consumer goods and services. This index gives comparable measures of inflation in the eurozone, the EU, the European Economic Area and for other countries including accession and candidate countries. They are calculated according to a harmonized approach and a single set of definitions. They provide the official measure of consumer price inflation in the eurozone for the purposes of monetary policy in the euro area and assessing inflation convergence as required […]

Despite softness of the US dollar in the North American trade, the greenback opened the Asian trade with a steady advance across the board. The USD/JPY pair is on track to a 2-week high, trading at around 113.30. Meanwhile, the market is absorbing a speech of Bank of Japan Governor Haruhiko Kuroda. He confirmed that the regulator adheres to the principle of the ultra easy monetary policy. In his remarks, the policymaker noted a persistently low pace of consumer inflation in Japan. […]

Oil traders fix their profits today, so oil futures are trading lower. The Brent Crude Benchmark is hovering near the level of $56.82 per barrel. Geopolitical factors that have recently boosted a rise in Brent prices also produce little effect. Restoration work is carried out in oil fields in the Iraqi region of Kirkuk, so oil production in Kurdistan may be resumed. The report of the Energy Information […]

Despite the lack of important macroeconomic events in the European session, traders remain active. First of all, market participants pay attention to the EUR/USD pair, which moved down from the previous high of 1.1850. Meanwhile, Germany released data on producer prices. The corresponding index increased by 0.3% to 105.2 in September. Geopolitical factors still influence the market, however, investors no longer attach special importance to them. In particular, traders are less concerned […]

Today, oil prices took a nosedive after the report on Crude Oil inventories had been released in the United States. Thus, the Energy Information Administration reported that the stocks of distillate fuel oil increased by 528 thousand barrels for a week while the stocks of motor gasoline advanced by about 900 thousand barrels. At the same time, the stockpiles of Crude Oil decreased. The US oil storage facilities lost 5 million 731 thousand barrels. […]

A large batch of macroeconomic data was released during the Asia Pacific session. In the early Asian trade, the USD/JPY pair rose above 113.00, the highest level in two weeks. In the European premarket, the pair is making a downward correction. Analysts expect the pair to trade around 112.80. Japan presented a foreign trade report, which revealed a notable increase in trade proficit. Japan's trade balance for September was a surplus of 670 billion yen. […]

Today, the British pound fell to a Wednesday low amid weak economic data from the UK. According to official data, the UK retail sales decreased by 0.8% in September. Economists expected a smaller fall. On a year on year basis, the corresponding index sank to a 4-year low in the third quarter. According to experts, these weak data will affect the GDP estimate for the third quarter. Analysts expect the British economy to slow down in the near future. The UK […]

Wall Street finished in the green as the Dow Jones climbed to a new record high exceeding 23,000 points. The Dow Jones rose by 0.69%, the S&P 500 by 0.07%, and the NASDAQ added 0.01% to its value. The US dollar traded lower against the other major currencies following the release of poor economic data in the housing sector. The Building Permits came out at 1.22 million and the Housing Starts at 1.13 million, both worse than expected. Today, […]