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  Silver continues to be in a defensive position close to a one-month low that was reached on Monday. The current environment is favorable for pessimistic traders and lends credence to the possibility of more losses. Any effort at recovery that moves the price over $19.00 is likely to be sold into by investors. On Tuesday, silver prices struggle to make any headway, and the precious metal is still trading within striking distance of a one-month low that was reached the day before. The precious white metal is trading in the neighborhood of $18.70 at the moment and is susceptible to a prolongation of its present downward trend that has been seen over the course of the previous two weeks or so. Read More.... EDGE-FOREX  

  In this article, we’ll break down the components of a swing trade and talk about the tools and process involved in creating a straightforward trade setup. While no one trading strategy is flawless, you may use these best practices in combination with your own to find better entry and exit positions in trending market conditions. The simplest, most crucial, and usually underused tool in your trading toolbox is a trendline. The gradient or slope of a moving market may be determined objectively by drawing a line off important price highs and lows. This crucial stage might assist in pinpointing potential areas of support (floor) or resistance for the price (ceiling). Daily Price Chart for DXY Because it involves some subjectivity, trendline analysis might be seen as more of an art than a science. However, while creating trendlines, the slope lends more certainty the more contact points the market has. This indicates that the trendline’s (slope’s) response becomes m...

  In this article, we have covered the highlights of global market news about the  Platinum (XPT/USD), AUD/USD ,  USD/JPY   and Gold (XAU/USD ). Platinum Price Analysis: XPT/USD Maintains Path to $830-29 Support Zone The Platinum price (XPT/USD) is trading at $860 in the early hours of Tuesday morning in Europe. Despite having recovered off a 1.5-month low the day before, the precious metal was unable to maintain buying interest. Platinum is anticipated to continue to be under pressure around the 61.8% Fibonacci retracement level of the March 2020 to February 2021 upside, close to $858.00, given the quote’s extended weakening below the 200-DMA, about $972.00 at the time of press. If the bears are successful in breaking through the $858.00 support, the horizontal region that includes the lows recorded in September 2020 and in July 2022 may provide a test to the Platinum bears around $830-29.00. Read More... forex trading app  

  EUR/USD NEWS AND ANALYSIS ‘Hawks’ detected at Jackson Hole, raising the prospect of ECB and Fed rate hikes. EUR/USD Following an analysis of key technical levels, the EUR/USD may provide opportunities for range trading. Risk events that are scheduled to take place: inflation in the EU and Germany, and the US NFP HAWKS SPOTTED IN WYOMING The Jackson Hole Economic Symposium confirmed what most people expected before the event began: the reality that inflation shows no apparent indications of slowing down, which would demand continuing determination from the Fed in the form of unabating interest rate rises. This was the main takeaway from the event. Read More.. EDGE-FOREX  

Forex traders often pay attention to key levels in the market. These are psychological costs that relate to the mind and way of thinking of people. The following major topics about psychological thresholds and round numbers in forex trading will be covered in this article: Definition of Psychological level Identifying mental states Forex trading with psychological levels Advantages of psychic levels and their limits What are psychological levels, and how do they function? Market price levels, or psychological levels, are often important levels in the forex market and are signified by round numbers. The levels of support and/or resistance are frequently represented by these round numbers. Read More... EDGE-FOREX  

  In this article, we have covered the highlights of global market news about the  USD/CNH, Gold ,  USD/CAD   and NZD/USD . USD/CNH is currently aiming for 6.9400 rather than 6.9600 – UOB According to Quek Ser Leang and Peter Chia, FX Strategists at UOB Group, if the upswing keeps on, USD/CNH may retest the 6.9400 level before reaching 6.9600 in the near future. “USD rose and finished last Friday at 6.8923 (+0.60%),” the 24-hour report reads. During the early Asian hour, the USD kept moving upward and overcame the key obstacle at 6.9000. The quick ascent seems to be a little exaggerated, and for the time being, it is doubtful that the next significant barrier at 6.9400 will be challenged. The level of support is 6.9000, followed by 6.8870. Within the next three weeks: “We have held a bullish USD view for roughly two weeks. We emphasised last Wednesday (24 August, spot at 6.8630) that the USD’s chances of extending its climb above 6.9000 have decreased d...

  Quantitative tightening (QT) is a contractionary monetary policy instrument that central banks employ to lower an economy’s level of liquidity, money supply, and overall economic activity. You may be wondering why a central bank would want to slow down economic activity. When the local economy overheats and inflation, or the overall rise in the cost of goods and services commonly bought there, occurs, they reluctantly do so. The Benefits and Drawbacks of Inflation Because a steady rise in the overall level of prices is essential to healthy economic development, most industrialized countries and their central banks have a modest inflation goal of approximately 2%. The essential concept here is “steady,” which makes forecasting and long-term financial planning for both people and organizations simpler. Read More.... EDGE-FOREX