Tuesday, April 30, 2019

EUR/USD, 4/30


EUR/USD has posted gains for two days straight and the upward trend continues on Tuesday. Currently, the pair is trading at 1.1212, up 0.17% on the day. After a quiet start to the week, there are a host of German and eurozone events. German GfK consumer climate remained pegged at 10.4, just above the forecast of 10.3 points. Investors will be keeping a keen eye on German CPI, with an estimate of 0.5%, and eurozone Flash GDP, which is expected to rise slightly to 0.3%. In the U.S., Chicago PMI is expected to rise to 59.1, and CB Consumer Confidence is also projected to climb to 126.2 points. On Wednesday, the U.S. releases ADP nonfarm payrolls and the Federal Reserve issues a rate statement. Professional Techniques For Short-Term Currency Trading Is a U.S-China trade deal imminent? Negotiations will continue on April 30, in Beijing, and U.S. Treasury Secretary Mnuchin waxed positive on Sunday, saying that the talks were in their “final laps”. However, Mnuchin cautioned that the talks could still end without an agreement. The nasty trade war between the two largest economies in the world has rocked the global economy and curbed growth. If the sides can hammer out an agreement, investor risk appetite would likely soar, which could boost the euro against the safe-haven greenback. EUR/USD was flat in the Asian session and has posted slight gains in European trade •1.1120 is providing support •1.1212 is under pressure in resistance •Current range: 1.1120 to 1.1212

Monday, April 29, 2019

AUD/USD is subdued in the Monday

AUD/USD is subdued in the Monday session. Currently, the pair is trading at 0.7048, up 0.06% on the day. On the release front, there are no Australian events. Later in the day, China releases manufacturing PMI, which is expected to tick up to 50.7 points in April, after a score of 50.5 in the previous release. The 50-level separates contraction from expansion, so a reading just above 50 points to stagnation. The U.S. releases Core PCE Price Index and Personal Spending for February and March. The markets are expecting a strong gain of 0.7% for Personal Spending in March. On Tuesday, the U.S. releases Chicago PMI and CB Consumer Confidence. Australia will post the AIG manufacturing index.

Sunday, April 28, 2019

Forex Buy Sell Indicators

 
If you are using a candle stick chart you will see how the candle turns green as buyers enter the market. The same is true when you see a red candle that means sellers are selling the currency pair. If the news is bad the sellers will start to sell and produce red candles on your charts. A successful forex trader will keep informed on each pairs economic news and various reports that can effect the pairs trading range. All these factors need to be taking into consideration to make money in the forex markets. Professional Techniques For Short-Term Currency Trading Why do you need a Forex Buy Sell software: Forex Buy Sell Indicators are one of the signs that you have to always looking out when forex trading in the foreign currency exchange market. These indicators are signals that tell you the likely trend of a particular currency. If the indicators illustrate to that the currency under observation is regarding to plunge then do not invest on it; or if you're having this foreign currency in your account then by all means that start getting rid of it to stay away from possible losses. In the exact same manner, if the forex trading indicator shows that a certain currency is about to enhance its price then that signals the right time to purchase that currency and sell it at a certain higher value level to produce proceeds.

Saturday, April 27, 2019

200 day moving average

You can use the 200 day moving average as a support and resistance area. One thing to remember if the price is near the 200 MA you should wait for confirmation before you decide to hit the buy or sell button. Waiting for the trend direction off the 200 MA will increase your chances of making a profit on the trade. When a moving average lines up with true buyers and or sellers, the moving average will work a high percentage of the time. It is important that you monitor the volume to make sure that the buyers or sellers are actively involved.
Scalping Strategy Course (DVD + Online) The price of the stock  is also keyed in to the moving averages.Shorter moving averages for daytrading.

Always take note of the risks involved and what you are particularly risking in the exchanges. Always trade in reasonable sizes.  Some markets inside exchanges are able to make it possible for individuals to trade very large amounts of leverage. And so, a lot of people trade in large quantities in order to assure larger profits. However, doing this may also open up the possibility of losing money in such large quantities as well. It is always wiser to scale your trades in order to lessen risks. Never trade sizes that can wipe you out of all your money. And you would have nothing to lose if you actually start small, and grow your trading transactions from there.
   Identify market trends before trading  It is also very important that you are aware of how the market is doing before you start trading. Remember to learn if trends are going up or down.

Friday, April 26, 2019

Knowing how to read your charts

You need to find a trading system that fits your personality back test the system, have the capitol to trade the system, and then trust in it. Knowing how to read your charts and watching the trend should be part of your system. You should be comfortable with perceiving yourself as a winning trader and then committing to a trading system that reflects this. You are more likely to follow your trading signals then some trader you do not know.

dollar slipped Friday

The dollar slipped Friday after a measure of first-quarter inflation came in below expectations despite surprisingly strong economic growth in the first three months of the year.
The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down 0.1% at 90.91.
The index briefly jumped to 91.15 after the Commerce Department said the U.S. economy grew 3.2% in the first quarter. That was well above the 2.5% reading anticipated by economists surveyed by The Wall Street Journal.
The dollar changed direction, however, after traders took a deeper look at the report. Most significant for the outlook for monetary policy, the price index for personal-consumption expenditures increased at a 0.6% pace in the first quarter, down from 1.5% in the final quarter of 2018. Core prices, excluding food and energy categories, rose at a 1.3% rate, down from 1.8%.
Scalping Strategy Course (DVD + Online)

Thursday, April 25, 2019

USD/JPY posted slight losses 4/25


Later in the day, Japan releases Tokyo Core CPI and retail sales. In the U.S., durable goods orders is expected to rebound with a gain of 0.7%, after a sharp drop of 1.6% in the previous release. Core durable goods is projected to gain 0.2%. As well, unemployment claims is forecast to rise to 199 thousand. On Friday, the U.S. releases the initial reading for first-quarter GDP, with an estimate of 2.2%. We’ll also get a look at UoM consumer sentiment, which is expected to drop to 97.1 points. Coach's Corner Premium is an interactive training service designed to help Forex traders attain Forex trading mastery via video courses, daily analysis videos, weekly webinars and interaction with mentors and other traders. As expected, the Bank of Japan made no changes to monetary policy, maintaining short and long-term interest rates at extremely low levels. However, the markets reacted after the bank announced that rates would be frozen until the spring of 2020 at the earliest. Despite years of ultra-low rates, inflation remains stubbornly low, as the BoJ target of 2.0% remains elusive. There is a growing perception that policymakers have run out of ideas and tools for creating stimulus. The economic shock of the global trade war has hampered the Japanese economy, which is heavily dependent on trade with the U.S. and China. There have been reports of significant progress in trade talks between the U.S. and Chinese officials, but until a deal is signed, Japan’s economy will likely continue to flounder, making the yen less desirable to investors. USD/JPY posted slight losses in the Asian session and this trend continues in European trade •110.90 is providing support •112.16 was tested earlier in resistance. It is a weak line •Current range: 110.90 to 112.16

Wednesday, April 24, 2019

AUD/USD ,4/24

AUD/USD has posted considerable losses in the Tuesday session. In North American trade, the pair is trading at 0.7095, down 0.56% on the day. The Aussie has slipped close to 1.0 percent this week, and is currently trading at a 3-week low.
On the release front, there were no major events in the U.S. New home sales jumped to 692 thousand, marking a 12-month high. However, Richmond Manufacturing Index fell to 3, down sharply from 10 points a month earlier. In Australia, the CB Leading Index improved to 0.5% in February, after a gain of 0.3% in the January release. CPI is expected to slow to 0.2% in Q1, while Trimmed Mean CPI is projected to remain unchanged at 0.4%.
The RBA has held the course with monetary policy, but that hasn’t removed investor jitters. Earlier this month, rate-setters maintained the benchmark rate at 1.50%, where its has been pegged for 32 months. However, dovish language in the rate statement sent the Aussie lower, as investors remain concerned about the economic outlook. China, which is Australia’s largest trading partner, is mired in a slowdown, and that could spell major trouble for the Australian economy. The markets have priced in a rate cut when the RBA finally makes a move, which could occur later in the year.
•AUD/US posted small losses in the Asian and European sessions. The pair continues to lose ground in North American trade
•0.7085 is under pressure in support after losses by AUD/USD on Tuesday
•There is resistance at 0.7190
•Current range: 0.7085 to 0.7190
AUD/USD ratio is showing short positions with a small majority (53%), indicative of trader bias towards AUD/USD continuing to move to lower ground.

Tuesday, April 23, 2019

EUR/USD is showing little movement on Tuesday

, as the holiday hangover continues in the markets. Currently, the pair is trading at 1.1253, down 0.03% on the day. There are no major events, so the pair is likely to have a quiet day. The eurozone releases consumer confidence, which is expected to remain unchanged at -7 points. In the U.S., New Home Sales is forecast to slow to 647 thousand, while the Richmond Manufacturing index is also projected to remain unchanged at 10 points. On Wednesday, Gemany releases the Ifo Business Climate index.
With the eurozone mired in an economic slowdown, investors are hoping that the German locomotive will pull the rest of the eurozone back onto the tracks. German numbers have also disappointed, particularly manufacturing, which has been hit hard by the global trade war. Not unsurprisingly, German business climate has been steadily losing ground since the middle of 2018, reflective of weakening economic conditions. Still, the indicator remains close to the symbolic 100-level, and the April estimate stands at 99.9 points.

Monday, April 22, 2019

EUR/USD 4/22


German banks are closed for the Easter Monday holiday and EUR/USD is almost unchanged. Currently, the pair is trading at 1.1249, up 0.03% on the day. There are no German or eurozone events on the calendar. In the U.S., there is just one release. Existing home sales is expected to slow to 5.31 million in March, after a strong reading of 5.51 a month earlier. Housing data will remain in focus on Tuesday, with the release of the housing price index and new home sales. The euro dropped sharply on Thursday, after disappointing manufacturing PMIs from Germany and the eurozone. The manufacturing sector continues to post declines, as the global trade war has reduced demand for German and eurozone exports, and taken a toll on the German auto industry. German manufacturing PMI has slowed for nine successive months, and the worrisome trend shows no signs of changing until the U.S and China hammer out a trade agreement. The services sector, which is more reflective of domestic demand, is in better shape, as German and eurozone PMIs continue to indicate expansion. EUR/USD posted small losses in the Asian session and has recovered in European trade •1.1212 is providing support •1.1300 is the next resistance line •Current range: 1.1212 to 1.1300 Daily Trade Plan with Chris Mathis

Friday, April 19, 2019

Gold

Gold traded near its lowest level since end-December on Thursday as indications that the global economy might not be as pain-stricken as previously feared prompted investors to take risks ahead of a slew of economic data.
Spot gold eased 0.1 percent to $1,273 per ounce by 0722 GMT, having fallen to $1,270.99 earlier in the session, its lowest since December 27.
The metal has so far lost about 1.3 percent in the holiday-shortened week, and is on track for a fourth straight weekly decline. Most markets are closed for Good Friday on April 19.
U.S. gold futures lost 0.1 percent to $1,275.60 an ounce.
“What we see here is the moderation of some of the extreme concerns about the global growth outlook,” said Michael McCarthy, chief market strategist at CMC Markets.
“Recent data over the last 10 sessions or so have eased concerns and safe-haven assets have been under significant pressure.”
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Thursday, April 18, 2019

GBP/USD

GBP/USD has posted slight losses in the Thursday session. In North American trade, GBP/USD is trading at 1.3015, down 0.20% on the day. On the release, British retail sales jumped 1.1% in March, crushing the estimate of -0.3%. Over in the U.S., retail sales is forecast to improve to 0.9% and core retail sales is projected to climb 0.7%. The Philly Fed manufacturing index is forecast to dip down to 11.2, while unemployment claims is projected to rise to 207 thousand. On Friday, the U.S. releases building permits and the Treasury Department releases the semi-annual currency report.

Wednesday, April 17, 2019

EUR/USD continues to have an uneventful week

EUR/USD continues to have an uneventful week. On Wednesday, the pair is trading at 1.1308, up 0.24% on the day. On the release front, eurozone CPI dipped to 0.8%, matching the forecast. The eurozone trade surplus jumped to EUR 19.5 billion in February, its highest level since April. There are no major U.S. events on the schedule. Thursday will be busy on both sides of the pond. Germany and the eurozone release services and manufacturing PMIs, and the U.S. posts retail sales and unemployment claims.
Eurozone inflation is steady, but remains well below the ECB target of 2.0 percent. The eurozone annual inflation rate edged lower to 1.4% in March, compared to 1.5% in February. Low inflation means that the ECB is not under pressure to raise interest rates. After last week’s policy meeting, Mario Draghi noted that the economic outlook for the eurozone remains weak. With no interest hikes in sight and a sluggish eurozone economy, the euro will have likely have trouble making headway against the U.S. dollar.

Tuesday, April 16, 2019

GBP/USD 4/16


GBP/USD has posted slight losses in the Tuesday session, erasing the gains seen on Monday. In North American trade, GBP/USD is trading at 1 1.3046, down 0.41% on the day. In economic news, British employment numbers were mixed. Wage growth edged up to 3.5%, matching the estimate. However, unemployment claims rose to 28.3 thousand, well above the estimate of 17.3 thousand. There are no major events in the U.S. On Tuesday, the U.K. releases a host of inflation indicators, led by CPI, which is expected to edge up to an even 2.0%. How To Trade Forex Using Support and Resistance Levels There are no major U.S events until Thursday, when we’ll get a look at retail sales reports. February data was disappointing, as both retail sales and core retails recorded declines. This pointed to weak consumer spending, and sent the greenback lower. However, the markets are expecting much better news for March, with retail sales expected in at 0.9% and core retail sales at 0.7%. If the actual figures are within expectations, the U.S. dollar could respond with gains.

EUR/USD 4/16

EUR/USD continues to have a quiet week. On Tuesday, the pair is trading at 1.1297, down 0.06% on the day. On the release front, German ZEW Economic Sentiment improved to 3.1, beating the estimate of 0.9. The all-eurozone indicator followed suit, rising to 4.2, above the forecast of 1.2 points. There are no major U.S. events on the schedule. On Tuesday, the eurozone releases CPI and OPEC members hold a meeting in Vienna.
•1.1212 is providing support
•1.1300 is fluid. Currently, it a weak resistance line
•Current range: 1.1212 to 1.1300

Monday, April 15, 2019

Britain and the EU,4/15

Britain and the EU agreed to extend Brexit until October, but with Britain hopelessly divided on what happens next, does the extension really change things? The deadlock in parliament remains, and Prime Minister May will be sorely challenged to control her divided Conservative party. On Monday, May wrote a letter to the civil service, stating that contingencies for a no-deal Brexit would continue, despite the extension. With no clear resolution in sight, the pound is likely to face further headwinds.

EUR/USD ,4/15

EUR/USD has started the week with small gains. Currently, the pair is trading at 1.1310, up 0.10% on the day. Last week, the pair climbed 0.7%, its best week since mid-March. It’s quiet on the fundamentals front, with no major events out of the eurozone. In the U.S., the Empire State manufacturing index is projected to jump to 8.0 in April. On Tuesday, Germany releases ZEW Economic Sentiment, with a forecast of 0.9 points.
U.S. inflation numbers showed improvement in March. CPI climbed to 0.4%, its highest gain since January 2018. The producer price index also looked strong, climbing 0.6%, a 5-month high. Inflation remains well below the Federal Reserve target of 2.0%, but stronger inflation numbers will bolster the case of Fed officials who favor raising rates in 2019 if the economic outlook improves. The Fed minutes from the March meeting left the door open to further rate hikes this year, but current market pricing suggests no hikes until 2020, and some analysts are expecting a cut in rates later this year.

USD/JPY

The positive shift in risk appetite toward the end of last week extended into this one, though activity was muted at the start of this Easter-shortened week. USD/JPY touched the highest since March 5 in early trading but settled back to hover around the 122.0 mark for the rest of the morning.
The strong rebound in China’s new loans in March reported on Friday and strong reports from the first few banks kicking off the reporting season are both helping to underpin risk appetite. The 55-day moving average on USD/JPY looks poised to cross above the 100-day moving average for the first time since January 10.

Sunday, April 14, 2019

bullish sentiment

If there is an overall bullish sentiment amongst investors due to the trend, news or earnings, then there will be a flood of buy orders to be filled at the open.  Most of the orders will be filled in the call auction of the pre open.  There may be enough orders that flow into the regular trading session to cause price to temporarily rise.  What you have to remember though is that the gap up is caused because of the need to find sellers to absorb all of the buy orders.  Once they have, then you will typically see a reversal of price anywhere between five to fifteen minutes after the market opens. That reversal can be short lived as the overall sentiment of the day will take price in the direction of the dominant trend.  Traders should learn that this correction offers an excellent opportunity for the smart trader to get a better entry price for their trade.  Watching the volumne and charts and anticipating this is very important.
Professional Techniques For Short-Term Currency Trading

forex trader

Your strategy should define who you are as a forex trader, and maybe that trader is strictly in and out in a day, no trade ever held overnight is the rule. Then again, maybe you want to be a day trader and a swing trader  in and out in a day for one trade, but hold another for five days. Again, no law mandates how you trade. You should however, subject yourself to your trading plan, which is know what you are doing.  You should also know who you are, so you can decide what type of trading best suits you, your personality, your temperament, and your mindset.
 

US banks

US banks including Goldman Sachs, Citigroup and Bank of America are due to report first-quarter results. Upbeat announcements from JPMorgan and Wells Fargo buoyed market-wide risk appetite on Friday, sapping demand for haven assets and weighing on the anti-risk US unit.

Saturday, April 13, 2019

Trade Alerts

 
The Forexmentor Live! interactive training in trading Forex includes unlimited access to the live trading classroom, detailed tutorial videos used in trading client accounts, a step-by-step guide to the LPT Method, technical analysis, detailed presentations throughout the day, live Trade Alerts, access to Professional Fund Managers, access to live news feeds in real time and so much more.

Friday, April 12, 2019

EUR/USD , 4/12


EUR/USD has reversed directions in the Friday session, after slight losses in the Thursday session. Currently, the pair is trading at 1.1311, up 0.50% on the day. On the release front, there are no major German or eurozone events. The German Wholesale Price Index remained steady in March, with a gain of 0.3%. Eurozone industrial production declined by 0.2%, above the estimate of -0.5%. In the U.S., UoM consumer sentiment is expected to improve to 98.1. As well, the Treasury department releases its semi-annual currency report. •1.1300 has switched to a support role after strong gains by EUR/USD on Friday. It is a weak line •1.1434 is the next resistance line •Current range: 1.1300 to 1.1434 How To Trade Forex Using Support and Resistance Levels

Thursday, April 11, 2019

EUR/USD is almost unchanged

EUR/USD is almost unchanged in the Thursday session. Currently, the pair is trading at 1.1276, up 0.02% on the day. On the release front, German Final CPI remained steady, with a gain of 0.4%. This matched the forecast. The U.S. will release producer price index reports. PPI is expected to rise to 0.3% and Core PPI is forecast to improve to 0.2%. Unemployment claims is projected to rise to 210 thousand. On Friday, the eurozone releases industrial production, while the U.S. posts UoM consumer sentiment and the semi-annual Treasury currency report.

Wednesday, April 10, 2019

Federal Open Market Committee

The Federal Open Market Committee is likely to keep its federal-funds rate target steady at 2.25%-2.50% for the rest of the year, minutes of its March 19-20 meeting released Wednesday show. But the policy-setting panel showed no inclination to lower its key policy interest rate, as the federal funds futures market anticipates in late 2019 or early 2020.
The outlook for an unchanged fed funds target is consistent with the FOMC's recent statements and Fed officials' rhetoric that have emphasized a " patient" attitude toward policy changes after the increases in 2018. As Capital Economics pointed out in a research note "several" panel members thought the next move in rates "could shift in either direction based on incoming data."

USD/JPY is showing little movement,4/10

USD/JPY is showing little movement in the Wednesday session. In the North American session, the pair is trading at 111.08, down 0.07% on the day. In Japan, Core Machinery Orders gained 1.8%, missing the estimate of 3.0%. Japanese PPI rose 1.3%, above the estimate of 1.0%. in the U.S., consumer inflation numbers were mixed. In the U.S., CPI was stronger than expected, with gain of 0.4%, above the estimate of 0.3%. Core CPI remained steady at 0.1%, shy of the estimate of 0.2%. Later in the day, the FOMC releases the minutes of the March policy meeting. On Thursday, the U.S. releases PPI.The economic outlook for Japan remains bleak, as the bruising U.S.-China trade war has damaged the manunfacturing sector and taken a toll on Japanese exports.
•110.90 is a weak support level
•112.16 is the next resistance line
•Current range: 110.90 to 112.16

Tuesday, April 9, 2019

Canadian dollar , 4/9

The Canadian dollar fell 0.07 percent as oil prices dropped following President Putin’s comments casting doubts on the extension to the crude output cut agreement. The loonie got a boost from higher oil prices as supply concerns rose after the situation in Libya could eventually end up in a civil war as different groups wrestle for control of the capital.
Russia not joining the OPEC+ agreement would be a major setback as the nation alongside Saudi Arabia have been the de facto leaders in the size of the cuts but also in their solidarity. Russia is not the only nation that would be happy to break away from the pact and reassume normal production levels specially if current prices could offset some of the lost revenue.

USD/JPY 4/9

USD/JPY has posted losses in the Tuesday session, continuing the downward movement seen on Monday. In the North American session, the pair is trading at 111.06, down 0.38% on the day. On the fundamental front, U.S. JOLTS Jobs Openings dropped sharply to 7.09 million, down from 7.58 million a month earlier. This reading was well short of the forecast of 7.54 million. Later in the day, Japan releases Core Machinery Orders, which is expected to rebound with a gain of 3.0%. As well, PPI is projected to improve to 1.0%. On Wednesday, the U.S. releases consumer inflation data. CPI is expected to improve to 0.3% and Core CPI is projected to climb to 0.2%. As well, the FOMC releases the minutes of the March policy meeting.

Monday, April 8, 2019

EUR/USD,,4/8

EUR/USD has started the week with slight gains. Currently, the pair is trading at 1.1238, up 0.20% on the day. In economic news, it’s a light data calendar, so we’re unlikely to see much movement from the pair on Monday. Germany’s trade surplus widened to EUR 18.7 billion but still feel short the forecast of EUR 19.0 billion. The eurozone Sentix Investor Confidence improved to -0.3, marking a four-month higher. In the U.S., the sole event is factory orders, which is expected to decline by 0.5%. On Tuesday, the U.S. releases JOLTS Jobs Openings.
How To Trade Forex Using Support and Resistance Levels
EUR/USD has posted small gains in the Asian and in European sessions
•1.1212 remains a weak support level
•1.1300 is the next resistance line
•Current range: 1.1212 to 1.1300

U.S. dollar ,,4/8

The U.S. dollar has to break the key S$1.3445 and S$1.3620 levels on either side to indicate it is ready for a "sustained directional move," UOB says. Until then, the charts of the currency pair indicate the pair will continue to trade sideways in a narrow range, the firm says. On tap are preliminary 1Q data and the Singapore central bank's policy statement due later this week. The U.S. dollar is up 0.1% at S$1.3562.

Sunday, April 7, 2019

critical period looms for the euro 4/7

A critical period looms for the euro, says Goldman Sachs, which increasingly views its 12-month EUR/USD forecast of 1.20 as a stretch. Global industrial activity seems to be improving, which means euro area growth may soon trough as well. A resolution or long extension to Brexit talks would reduce downside risks to the euro. "Third, the tight range for EUR/USD has held despite substantial private investor outflows-possibly due to a persistent bid from sovereign buyers-so downside for the currency may be limited as well," Goldman says. Still, if growth doesn't rebound fails over the next 1-2 months, the ECB might ease more at its June meeting to send the euro lower. "We are therefore sticking with our base case for now, but risks are skewed to the downside," Goldman says. The EUR/USD is at 1.1219 early on Monday.

Supply and Demand Levels

Most amateur traders use that point as an signal to enter a trade as they expect the price to reverse from the previous close. As  the trader quickly discovers this is not the real demand or supply zone and they get stopped out.  Experienced traders have learned to trade like professional traders, they will wait for the real demand or supply zone before entering a position. Those who waited for the news and waited for the price would have found themselves trapped out by the initial spike in prices only to then have to chase a violent price reversal straight after. It is very difficult to trade news especially in the forex markets
You need good Supply and Demand Levels. To identify market turning points and market moves in advance with a high degree of accuracy, you need to be able to learn where brokers and banks are buying and selling in the markets. To be successful you must be able to spot real supply and demand in a market on your charts, see this on a price chart. To do this a solid understanding of the odds enhancers is key.
Just as it is important to identify strong supply and demand levels on a chart. It is equally important to be able to identify areas on the price chart where there is very little supply or demand. This could be a good area to go short. Read some of the trading articles to begin to learn how to identify real demand and supply on price charts. When you have studied then all that matters are two simple questions. Where is price going to turn and where is price going to go. Learning these two odds enhancers that answer that question and your trading and investing you will be more profitable.

Saturday, April 6, 2019

Forexmentor Live


The Forexmentor Live! interactive training in trading Forex includes unlimited access to the live trading classroom, detailed tutorial videos used in trading client accounts, a step-by-step guide to the LPT Method, technical analysis, detailed presentations throughout the day, live Trade Alerts, access to Professional Fund Managers, access to live news feeds in real time and so much more.

Friday, April 5, 2019

EUR/USD is subdued in Friday

EUR/USD is subdued in Friday trade. Currently, the pair is trading at 1.1230, up 0.09% on the day. In economic news, German industrial orders climbed 0.7%, edging above the forecast of 0.6%. In the U.S., the focus will be on employment numbers. Nonfarm payrolls is expected in at 172 thousand in March, after a dismal gain of 20 thousand in the previous release. Still, this estimate is significantly lower than the December and January releases, both of which were above the 300-thousand level. Wage growth is projected to gain 0.3%, lower than the 0.4% gain a month ago.
EUR/USD was flat in the Asian session and remains steady in European trade
•1.1212 remains a weak support level
•1.1300 is the next resistance line
•Current range: 1.1212 to 1.1300
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GBPUSD Daily Chart,4/5

I’m not sure what the public fear more, an potentially indefinite backstop or indefinite negotiations. Theresa May requested another short extension from the EU on Friday to get a Brexit agreement through Parliament, as she continued to engage in talks with the opposition Labour Party.
It seems there are differences though between what May deems to be an acceptable extension and what Tusk believes it to be, which is much longer, albeit flexible. This will likely be discussed at the emergency EU summit next Wednesday, with the default remaining that the UK leaves without a deal on 12th April, one week from today.
 

Thursday, April 4, 2019

USD/JPY,4/4


USD/JPY is showing little movement on Thursday. In the North American session, the pair is trading at 111.58, up 0.08% on the day. On the release front, U.S. unemployment claims impressed, dropping to 202 thousand. This was below the forecast of 215 thousand. Later in the day, Japan releases household spending, which is expected to tick lower to 1.9%. On Friday, the focus will be on U.S. employment data, with the release of nonfarm payrolls and wage growth. It’s been a disappointing week for U.S. numbers, and the trend continued on Wednesday. ADP nonfarm payrolls plunged to 129 thousand, down from 183 thousand in the previous release. Is this a precursor of what to expect on Friday? Nonfarm payrolls are projected at 175 thousand, a soft number in comparison to recent releases. ISM Non-Manufacturing PMI also stumbled on Wednesday, falling from 59.7 to 56.1 points. USD/JPY showed limited movement in the Asian and European sessions. The pair has posted small gains in North American trade •110.90 is providing support •112.16 is the next resistance line •Current range: 110.90 to 112.16 How To Trade Forex Using Support and Resistance Levels

EUR/USD 4/4

EUR/USD is unchanged in Thursday trade. Currently, the pair is trading at 1.1231, down 0.02% on the day. On the release front, German factory orders plunged 4.2%, nowhere near the estimate of 0.3%. Later in the day, the ECB posts the minutes of its March meeting. In the U.S., today’s highlight is unemployment claims, which is expected to rise to 215 thousand. On Friday, the U.S. releases wage growth and nonfarm payrolls, so traders should be prepared for movement from the pair.

EUR/USD ticked lower in the Asian session but has recovered in European trade
•1.1212 is weak support level
•1.1300 is the next resistance line
•Current range: 1.1212 to 1.1300

Wednesday, April 3, 2019

GBP/USD 4/3

The pound continues to gain ground and has risen 1.0% this week. In North American trade, GBP/USD is trading at 1.3182, up 0.37% on the day. On the release front, British Services PMI dropped to 48.9, missing the estimate of 51.0 points. This marked the first decline since June 2017. In the U.S., employment and services data was softer than expected. ADP nonfarm payrolls was dismal, falling to 129 thousand, down from 183 thousand in the previous release. ISM Non-Manufacturing PMI also stumbled, falling from 59.7 to 56.1 points. On Thursday, the U.S. releases unemployment claims.
Soft U.S. numbers this week have raised concerns about the strength of the U.S. economy. The Non-Manufacturing PMI slowed considerably, although it still indicated expansion. Durable goods orders plunged 1.6%, and retail sales fell by 0.2%. The weak numbers have weighed on the dollar, allowing the pound to gain ground despite turmoil and uncertainty over Brexit. Analysts are keeping an eye on GDP, and there are growing worries that first quarter numbers could be dismal. Growth for the first quarter could be as low as 0.8% annualized, compared to 2.2% in the fourth quarter.
GBP/USD was flat in the Asian session. The pair posted slight gains in European trade and the upward movement continues in North American trade
•1.3070 is providing support
•1.3170 is under pressure in resistance
•Current range: 1.3070 to 1.3170
Further levels in both directions:
•Below: 1.3070, 1.2910 and 1.2841
•Above: 1.3170, 1.3258, 1.3362 and 1.3460
How To Trade Forex Using Support and Resistance Levels

Gold

A softer dollar over the last 24 hours has given some reprieve to gold, which slipped below $1,300 last Thursday as the greenback benefited from weakness across a variety of other currencies.
The euro was quite slow to respond to the PMI data but it seems an improvement in overall risk appetite as the morning has progressed has seen it play catch up. This has put further pressure on the dollar, which was already being weighed on by gains in the pound on the back of Theresa May’s attempts to salvage Brexit with the help of the opposition, a move that could see Parliament form a majority around a softer exit.
 

Tuesday, April 2, 2019

USD/JPY ,,4/2

USD/JPY is almost unchanged on Tuesday. In the North American session, the pair is trading at 111.33, down 0.02% on the day. On the release front, U.S. manufacturing data was dismal. Durable Goods Orders plunged 1.6%, worse than the estimate of -1.1%. Core Durable Goods Orders posted a weak gain of 0.1%, shy of the estimate of 0.3%. There are no Japanese events on the calendar. On Wednesday, the U.S. releases ISM Non-Manufacturing PMI and ADP nonfarm payrolls.
The dollar is steady on Tuesday, despite the disappointing manufacturing data. This comes on the heels of weak retail sales numbers for March. Retail sales declined by 0.2%, shy of the estimate of +0.3%. Core retail sales declined by 0.4%, a sharp drop from the 0.9% gain a month earlier. Both indicators posted a second decline in three months, which is bound to raise concerns about the strength of the economy. Growth for the first quarter could be as low as 0.8% annualized, compared to 2.2% in the third quarter.
The well-respected Japanese Tankan indices pointed to weaker economic activity in the fourth quarter. This was particularly glaring in manufacturing, as the Tankan index slumped to 12 points, down from 19 points in the third quarter. This was the weakest score since 2013. The slowdown in the services index was less pronounced – falling from 24 in Q3 to 21 in Q4. The steep drop in manufacturing was expected, as less global demand for Japanese exports has taken a bite out of manufacturing activity.

Canada’s GDP 4/2

The Canadian dollar ended last week with strong gains, as Canada’s GDP posted a gain of 0.3% in January. This beat the estimate and came after two successive declines, which has raised concerns about the health of the Canadian economy. The slowdown in the fourth quarter has forced the BoC to turn more dovish and shelve any plans of hiking interest rates. There have even been calls for a rate cut from the bank, but the GDP gain in January will lessen the pressure on the BoC to stimulate the economy.
Positive data out of China this week has also boosted the fortunes of the Canadian dollar. Investor risk appetite has risen following a key manufacturing report that was better than expected. Chinese Caixin Manufacturing PMI improved to 50.8, easily beating the estimate of 50.1 points. Investors cheered as the indicator climbed to an 8-month high, after three successive readings in contraction territory. The Chinese economy has been hit hard by the trade war with the U.S., and a piece of good news sparked strong gains on the equity markets and boosted the Canadian dollar.
Daily Trade Plan with Chris Mathis

Monday, April 1, 2019

Canadian dollar 4/1

The Canadian dollar has started the week with slight gains. Currently, the pair is trading at 1.3365, up 0.14% on the day. On the release front, Canada releases manufacturing PMI, which has slowed for three straight months. Will we see a rebound in the March release? In the U.S., retail sales are expected to tick up to 0.3%. On Tuesday, the U.S. posts durable goods orders.
The Canadian dollar ended the week with strong gains, as Canada’s GDP posted a gain of 0.3% in January. This beat the estimate and came after two successive declines, which has raised concerns about the health of the Canadian economy. The slowdown in the fourth quarter has forced the BoC to turn more dovish and shelve any plans of hiking interest rates. There has even been calls for a rate cut from the bank, but the GDP gain in January will lessen the pressure on the BoC to stimulate the economy.