Gross Domestic Product (GDP) indicator is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at … “EUR/USD: Trading the Preliminary German GDP August 2015”
Month: August 2015
USDCHF: Tumbles Lower On Strong Sell-Off
With USDCHF turning lower on a strong sell-off on Wednesday, it now faces further corrective weakness in the days ahead. On the downside, support comes in at the 0.9700 level. A turn below here will open the door for more weakness to occur towards the 0.9650 level and then the 0.9600 level. A cut through … “USDCHF: Tumbles Lower On Strong Sell-Off”
GBPAUD Sells off Resistance – Strong Bearish Rejection Candle
After a nice extended rally here on the GBPAUD daily chart, price has become a little turbulent as it slams into some stubborn resistance. The resistance level has been defended by the bears after two attempts to push up into higher prices, both times the higher prices were denied. The most recent test – during … “GBPAUD Sells off Resistance – Strong Bearish Rejection Candle”
SNBomb Tee-Shirt now on sale
If you survived the SNBomb (which hurt a lot of traders and quite a few brokers) you might want to rewards yourself with a tee-shirt. Morgan Mcdonagh created a tee-shirt campaign. The tee includes the chart of EUR/CHF on that important day: January 15th. You can purchase it here – there are various sizes and background … “SNBomb Tee-Shirt now on sale”
Forex Fraud Alert: GreatTrade
Some scammers promise impossible infinite gains and never deliver. Others create “brokerages” which are a one way street to lose money and invent all the details. But these guys just clearly copied details about another broker’s management team. I guess it seems more serious when you see faces behind a business, even if these faces are from someone … “Forex Fraud Alert: GreatTrade”
Strategizer – the new cloud based, EA builder system
Many traders would like to use automated systems, but sometimes the technical hurdles scare them off. Orbex has just launched a new tool called Strategizer, which makes life easier. Here are the full details from the press release: August 12th, Limassol, Cyprus Forex broker, Orbex, is proud to announce the launch of their algorithmic Forex … “Strategizer – the new cloud based, EA builder system”
USDCAD: Bullish, Looks To Recapture Key Resistance
USDCAD: With the pair reversing its Monday losses on Tuesday to lose strongly higher, it now faces further move higher towards its key resistance at 1.3212 level. We may see price hesitation at that level but if taken our expect more strength to build towards the 1.3200 level followed by the 1.3250 level. Further out, … “USDCAD: Bullish, Looks To Recapture Key Resistance”
CHFJPY Drops Bearish Rejection Signal Aligned with Trend
The CHFJPY market has been gliding down at a steady pace – producing a nice stable bearish trend. We’ve had a couple of sell opportunities along the way here that have worked out well. Last session the market moved higher into the mean value – the move was denied and price was pushed down lower … “CHFJPY Drops Bearish Rejection Signal Aligned with Trend”
China Devalues Yuan Amidst Concerns About Economic Growth
Concerned about economic growth and in effort to bring the yuan more in line with market movements, the People’s Bank of China has devalued the yuan. Over the course of the last few years, the Chinese yuan has been moving higher, gaining in global importance and speculating that at some point the yuan (also called the renminbi) might even overtake the US dollar as the world currency of choice. Earlier, though, officials with the People’s Bank of China … “China Devalues Yuan Amidst Concerns About Economic Growth”
EURUSD: Remains On The Offensive With Eyes On 1.1133
EURUSD: With EUR maintaining its corrective bullish offensive, more strength towards its resistance located at 1.1133 level is likely in the days ahead. Support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0900 level with a turn below that level targeting … “EURUSD: Remains On The Offensive With Eyes On 1.1133”