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The intraday decline in the  GBP/USD  is reversed as intense selling of the USD begins to take place. Spot prices continue to trade below a crucial 200-day SMA and lack bullish confidence. The mentioned obstacle is a turning point since it lines up with increasing channel resistance. On Monday, the GBP/USD pair drew some buying in the 1.2025 area but could not take advantage of the little intraday increase. Throughout the early North American session, the pair oscillates between modest gains and losses, and it currently seems to have reached equilibrium around the 1.2060 level. Read More...  

  In this article, we have covered the highlights of global market news about the  USD/CAD, EUR/USD ,  NZD/USD  and  USD/JPY . USD/CAD declines from its one-week high but remains solidly bid around the 1.3430–35 range. On the opening day of a new week, the  USD/CAD  pair builds on Friday’s upward movement and gains some momentum. However, during the early European session, spot prices pare back some of their intraday gains to reach a one-week high before falling below mid-1.3400s. Investors are still concerned that China, the world’s top oil importer, could see a decline in gasoline consumption due to the deteriorating COVID-19 scenario. This, in turn, weakens the commodity-linked Loonie and pushes crude oil prices to a new YTD low. Aside from this, a slight rise in the US Dollar’s value, supported by the cautious atmosphere, provides some support for the USD/CAD pair. Read More...

  One of the world’s most valuable and frequently used metals,  copper  is a highly traded item on the primary commodities market. Learn about copper, its history, what influences copper prices, and trading advice in this article. WHAT DOES COPPER MEAN? Copper is a plentiful, reddish-brown metal mined for use in various industries, including agriculture and construction. It is far less expensive since it is not regarded as a monetary standard, in contrast to other metals sold on the commodities market (such as gold and silver). Copper is a volatile, often traded item on the main commodities market. Still, some of the supply and demand variables that impact it are similar to those that drive other commodities. Read More... EDGE-FOREX

  Although it doesn’t follow through, USD/CAD rebounds off the weekly low it reached earlier on Friday. The demand for the USD is rekindled, and the major gains some support from an increase in US bond rates. The Loonie is supported by a modest increase in oil prices, which also restrains any significant rebound. The  USD/CAD  pair experiences some purchasing in the 1.3315–1.3320 range and makes a little comeback from a new weekly low reached earlier this Friday. While lacking bullish conviction, USD/CAD maintains its gains at the 1.3350 area through the early North American session and seems to have ended a three-day losing skid for the time being. Read More... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  AUD/USD, NZD/USD ,  GBP/USD  and  USD/JPY . AUD/USD eases off a one-week high, and any decline is restricted given a lower US dollar. After retesting the high of November 15–16 in the 0.6780s, the  AUD/USD  pair fails to build on its gains over the previous three trading sessions and falls from a one-week high reached earlier this Friday. The pair is trading around the mid-0.6700s and has been doing so during the early European session. However, any further decline is unlikely. The current uptick in market optimism is restrained by concerns about the deteriorating COVID-19 situation in China, which is terrible news for the risk-averse Australian dollar. China implemented stringent restrictions in several important cities after a record-high increase in daily COVID-19 cases. As a result, worries of a future downturn in economic activity increase, and investors’ inter...

  Trading involves forex speculation, which is the name of the game. Even if there is no assurance of success, every trader eventually needs to click “buy” or “sell” and commit to a position based on their research. Unfortunately for traders, the market may have a different perspective on the market, which may cause them to take a minute to reflect seriously. This article attempts to address some of those difficult topics by delving into the following: What exactly does speculation in foreign exchange mean? What happens if everything goes wrong? Top 4 suggestions for speculating like a pro trader. WHAT IS FOREX MARKET SPECULATION? Buying and selling currencies on the foreign exchange market for profit is speculation. Because no one can predict with confidence whether the market will move up or down, it is known as speculation. Before entering a transaction, traders evaluate the probability of both possible outcomes. Read More... EDGE-FOREX

  NZD/USD has cleared the significant threshold of 0.6250 during a risk-on solid trend. Federal Reserve officials favor the interest rate rise slowing regime to lower financial risks. The New Zealand Reserve Bank expects the interest rate to peak at 5.5 percent. RBNZ-Fed policy divergence has increased, and NZD/USD seeks to break through the round-level resistance of 0.6300. After overcoming the crucial barrier of 0.6250 during the Asian session,  NZD/USD  is moving upward intensely. The Kiwi Dollar has significantly increased in popularity as market confidence soars. NZD has renewed its three-month high at 0.6270 and has kept up its two-day winning run. In the absence of any indications that the bullish market attitude would weaken, the major is vulnerable to touching the round-level resistance of 0.6300. Read More... EDGE-FOREX

  NZD/USD has cleared the significant threshold of 0.6250 during a risk-on solid trend. Federal Reserve officials favor the interest rate rise slowing regime to lower financial risks. The New Zealand Reserve Bank expects the interest rate to peak at 5.5 percent. RBNZ-Fed policy divergence has increased, and NZD/USD seeks to break through the round-level resistance of 0.6300. After overcoming the crucial barrier of 0.6250 during the Asian session,  NZD/USD  is moving upward intensely. The Kiwi Dollar has significantly increased in popularity as market confidence soars. NZD has renewed its three-month high at 0.6270 and has kept up its two-day winning run. In the absence of any indications that the bullish market attitude would weaken, the major is vulnerable to touching the round-level resistance of 0.6300. Read more... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  EUR/USD, USD/JPY ,  USD/TRY  and  USD/CHF . EUR/USD may fluctuate slightly at 1.03, according to Commerzbank Due to weak holiday activity, the US dollar is still under pressure. Commerzbank economists anticipate that the  EUR/USD  pair will remain close to the 1.03 level. It will become dull, so sit back and relax. “No data is expected for release in the US owing to the Thanksgiving holiday. However, we are not expected to see something new from the eurozone either. Read More... forex exchange

  Market players and  traders  often undervalue durable goods orders. Still, this article seeks to highlight the significance of this economic data print by going through its definitions, fundamental economic principles, and effects on the trading of financial markets. DURABLE GOODS ORDERS: WHAT ARE THEY? Let’s first examine what constitutes a durable good. Products and objects that are long-lasting and hard-wearing are considered durable goods. This indicates that orders for these items can be placed infrequently. The core retail sales figures directly benefit from durable goods, a component of the larger consumer goods category. Read More... EDGE-FOREX

  GBP/USD rises for the second day and reaches a new weekly high. Bets on the Fed raising rates less aggressively weigh on the USD and strengthen the pair. The GBP is supported by better-than-expected UK PMI, which also supports the upward trend. Ahead of the crucial FOMC minutes, investors are now looking to US macro data for some dynamism. For the second straight day on Wednesday, the  GBP/USD  pair builds on the previous day’s upward movement and finds some follow-through strength. The pair retains a buy tone through the early North American session and is now trading close to the weekly high, just below the mid-1.1900s. Read More... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  AUD/USD, USD/JPY ,  GBP/USD  and  USD/TRY . AUD/USD faces more losses if it falls below 0.6570 – UOB The 0.6530 level may be tested again if the 0.6570 barriers is passed, according to UOB Group economist Lee Sue Ann and market strategist Quek Ser Leang. 24-hour view: “Yesterday, we maintained that the Australian dollar “may decline to 0.6570 before a comeback is expected.” Our hopes were dashed when the Australian dollar fluctuated quietly between 0.6601 and 0.6650. The price movements look to be stabilizing, and today’s range for the Australian dollar is anticipated to be between 0.6615 and 0.6675. Read more... forex pl

  “The trend is your buddy.” Although it is common knowledge and makes perfect logical sense, this advice is so ambiguous in real life that it is useless. Because timing and entrance into that setup will probably decide one’s success or failure in that specific trade, even if you are on the “correct” side of whatever trend is now indicating, therefore, it isn’t enough to identify the trend’s direction and then ‘hope’ that we’re correct; we also need to locate support (or resistance for downtrends), be patient and disciplined while waiting for the setup to develop, and then identify risk levels so that, if/when we’re ‘wrong,’ we have a point at which to exit to preserve the rest of our equity. This article will outline a five-step procedure for traders using price action to trade into new or “fresh” trends. Read more... EDGE-FOREX

  Renewing selling pressure is applied to USD/CAD, which is also impacted by other variables. A rise in oil prices supports the Canadian dollar and puts pressure on it amid general USD weakness. Before making strong directional wagers, use care due to the conflicting technical signs. On Tuesday, the  USD/CAD  pair encounters new supply and continues the previous day’s fall from close to the psychological level of 1.3500, or over a one-week high. The pair has been trading in the round number of 1.3400, just a few pips above the daily low, and has remained down throughout the early North American session. Read More... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  NZD/USD ,  USD/JPY ,  EUR/USD  and  GBP/USD . NZD/USD might go back below 0.60 by the end of the year, according to ING. Tomorrow at 1:00 GMT, the Reserve Bank of New Zealand will announce its monetary policy. A 50 basis point or a 75 basis point boost is likely. In any event, ING experts predict that the effect on the Kiwi would be minimal. Any NZD movements made after the meeting will be transient. In light of warnings against an excessively aggressive strategy from indicators of a quickening housing market collapse, 50 bps is more likely. However, most experts and the markets (66 basis points in price) favor a move of 75 basis points. Read More...

  A GUIDE TO MULTI-TIME FRAME ANALYSIS Multi-time frame analysis, sometimes referred to as multiple time frame analysis enables traders to concentrate on the timing of transactions and may assist in determining when trends may be nearing their conclusion. This article will describe applying this concept to the  EUR/AUD  currency pair. MULTI-TIMEFRAME ANALYSIS BENEFITS Pitchforks and median lines are used to identify important price response zones. These ideas may be extended to other time intervals to provide a more comprehensive picture of current market patterns. Read More... EDGE-FOREX

Around  EUR/USD , the selling pressure is still intense. When the DXY follows the dollar, it trades at multi-session highs. In October, the Chicago Fed National Activity Index deteriorated. At the start of the week, bears continued to dominate the risk complex mood and maintained EUR/USD low near the 1.0250 area. EUR/USD hits a two-week low. For yet another session, the EUR/USD keeps the corrective downward in place and poses a danger to test the crucial support in the vicinity of 1.0200 as soon as possible. Read More...   EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  NZD/USD ,  EUR/USD ,  GBP/USD  and  USD/JPY . NZDUSD flirts with a daily low, at 0.6120, amid strong USD demand. On the opening day of a new week, the NZDUSD pair experiences some selling pressure and drifts further away from a nearly three-month high, levels just above the 0.6200 level achieved on Friday. The pair have been struggling during the early hours of the European session, and it is presently edging ever-closer to the daily low at around 0.6120. Read More... EDGE-FOREX

  Forex orders come in a wide variety, and traders use them to control their transactions. There are typically a few standard FX order types that all brokers accept, even though they may vary across various brokers. Strong knowledge of these might aid traders in making the proper market entries and exits. Order types provide customized  trading strategies  that may give the trader calm. The primary forex orders and how to use them in a live transaction will be covered in this article. MARKET ORDERS The market order is most likely the simplest and often the first form of FX order that traders encounter. Market orders are exchanged at the market, just as their name suggests. This implies that you may trade a market order and be entered at the current price immediately if you wish to trade in the currency market. Read More... EDGE-FOREX

Forecast for the Australian Dollar: Neutral The US Dollar halted the Australian Dollar’s ascent. Before the hawks got involved, prospects of a Fed turn were fueled by a lackluster US PPI. Despite solid domestic statistics, the dial only moved a little.  AUD/USD : Will yields change? The Australian Dollar made another attempt to climb last week, reaching a 2-month high of little less than 68 cents before retreating as the US Dollar regained the upper hand. After a benign CPI report the week before and the US PPI missing predictions early in the week, the rise took place. As a result, there were market expectations that the Federal Reserve would end its rapid tightening cycle. Read More...   forex managed accounts uk

  Using effective forex risk management, currency traders may reduce losses brought on by exchange rate changes. As a result, putting a  good strategy  in place for managing forex risk may make trading currencies safer, more manageable, and less stressful. In this article, we’ll discuss the foundations of  fx risk management  and how to apply them to your workflow effectively. WHAT IS RISK MANAGEMENT IN FOREX? Traders might take individual activities to protect themselves from a trade’s potential downside making up forex risk management. More risk increases the possibility of significant profits but also increases the possibility of substantial losses. Therefore, one of the most important skills for every trader is controlling risk levels to reduce loss and maximize gain. Read More... EDGE-FOREX

  Renewing selling pressure causes EURGBP to see a decline to almost two-week lows. On short-term charts, the rectangle pattern that forms suggests that traders are still determining their next move. Before making substantial directional wagers, neutral technical indications also call for prudence. During the first part of the European session on Friday, the  EURGBP  cross falls to a low about two weeks old, but it still maintains some strength below the 0.8700 level. The relative outperformance of the British pound coincides with a growing consensus that the Bank of England would increase borrowing rates further to confront persistently rising inflation. Additionally, the Sterling Pound is supported by the generally positive UK monthly retail sales data, which also puts downward pressure on the EURGBP cross. Read More.... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  EUR/USD ,  USD/CAD ,   USD/JPY   and  AUD/USD . EURUSD Price Analysis: Bulls remain optimistic over 1.0300 due to RSI divergence inside a neighboring triangle. Before Friday’s European session, intraday gains for the EURUSD are reduced to around 1.0370. As a result, the major currency pair retreats from the immediate symmetrical triangle’s resistance line and braces for its fifth straight weekly rise. But to give buyers optimism, a concealed bullish divergence between the  EURUSD  price and the RSI (14) joins a two-week-old rising trend line. Read More... forex pl

  When an NFT (non-fungible token) is sold, the buyer is not acquiring the underlying digital picture. Instead, the buyer acquires a  crypto  token that serves as proof of ownership of the digital picture in question.  You might as well have given your money to a random individual on the internet if you didn’t have the valid token. This explains the entire premise of these tokens’ “non-fungibility.” Furthermore, because it is kept and accessible through the blockchain, its uniqueness can be easily verified, and no two identical non-fungible tokens may exist.  Having said that, many people have attempted to manufacture an  NFT , but false or forged NFTs are easily identified since they can always be tracked back to the original creator’s address. Read More... EDGE-FOREX

USDIDR has a four-day rise and recently oscillated around an intraday high. The benchmark rate will likely rise by 50 basis points by  Bank Indonesia . A breach to the upside of a two-week-old resistance line might reaffirm a multi-month high. The short-term downside is constrained by the 21-DMA and an ascending trend line from late September. The  USDIDR  continues to rise as it waits for the Bank Indonesia (BI) Rate announcement on Thursday morning, reaching a one-week high above $15,700 at the time of publication after a four-day upswing. To allay inflation anxieties in the Asian economy, the BI is prepared to announce this year’s fourth rate increase. Nevertheless, at today’s monetary policy meeting, the Indonesian   central bank   is anticipated to increase the rate by 50 basis points to 5.25%, a three-year high. Read More...   EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  GBP/USD ,   EUR/USD ,   NZD/USD   and  USD/CAD . GBP/USD is now consolidating in the short term – UOB According to UOB Group economist Lee Sue Ann and markets strategist Quek Ser Leang, given the recent price movement,  GBP/USD  may try to consolidate shortly. 24-hour view: “We said yesterday that we anticipated the GBP to move sideways between 1.1800 and 1.1950 and that it “is unlikely to gain further.” GBP moved within a smaller range (1.1834/1.1942) than anticipated. The GBP might teeter to the upside today as the underlying tone has firmed a little. Any improvement will most likely affect a test of 1.1970, however. It is not anticipated that Tuesday’s high of 1.2027 will be challenged. Support is located at 1.1850, but simply a breach of 1.1800 would signal a reduction in the slight upward pressure that is now present. Read More... EDGE-FOREX

  TRADING JOURNALS: WHAT ARE THEY? A trading journal is a log in which you may record your deals.  Traders  keep a trading journal to reflect on prior deals and analyze themselves; you should, too! Journals help you determine where you can improve your trading. They are a practical method of maintaining records. Source:  DailyFX WHY ARE TRADING JOURNALS NECESSARY? The primary justifications for maintaining a trading journal include the following: They assist you in identifying your style’s strengths and weaknesses. Trading Journals may improve the consistency of your trading. The journal might help you stay on track. The journal can help you decide which  trading strategy  will work best. Read More... EDGE-FOREX

  Despite a weaker US Dollar, Gold maintains stability at its highest level since mid-August. The dollar is affected by bets on the Federal Reserve raising rates less aggressively. The USD is further devalued by falling US bond rates, which is advantageous for commodities. Any additional advances for the  XAUUSD  seem to be limited by a resurgence in risk sentiment. On Wednesday, there is some dip-buying at $1,770, and Gold gradually moves back toward the peak it reached the previous day—the highest point since mid-August. Throughout the early North American session, the XAUUSD maintains its position above $1,780, although a minor improvement in risk sentiment prevents any further advances. Read More... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  GBP/USD ,   USD/CHF ,  USD/CAD  and  EUR/USD . GBPUSD: UOB sees declining bets on a breakthrough of 1.2100 According to UOB Group economists Lee Sue Ann and Quek Ser Leang, there is less chance that the  GBPUSD  will rise over 1.2100 shortly. 24-hour view: “Our prediction that the pound will “trade between 1.1680 and 1.1825” yesterday proved to be false as the pound soared to 1.2027 before falling to 1.1792 and then rising to finish at 1.1868 (+0.92%). The sudden decline under overbought circumstances indicates it is doubtful that the pound will gain further ground. GBP is more likely to move between 1.1800 and 1.1950 today. Read More...