Today In this article, we’ll cover the concepts of Support and Resistance, Entry and exit levels, and Trading with leverage and a system. Hopefully, these ideas will help you make money in forex. But before we get started, let’s look at some of the basics. Remember: the basics are the foundation of any successful trading strategy.
Most currency trading is done by banks, either on their own behalf or on behalf of customers. They also trade with counterparties, which could be other financial institutions or non-financial organizations. 89 percent of currency trading occurs through the dollar, which is used as a vehicle currency. For example, if you want to go from the Malaysian ringgit to the South African rand, you must pass through the dollar.
Fed officials are planning towards another interest-rate rise of 0.75 percentage points at their coming meeting this week and are likely to debate then whether and how to signal plans to approve a smaller increase in coming meetings if inflation shows a sign of moderating.
The Japanese branch of OANDA Corporation, OANDA Securities, will change the margin rates for the USD/SEK currency pair.
European Central Bank under enormous pressure ahead of Fed rates
Before going into the discussion, do you know what forex or foreign exchange trading is? If not, then you can listen to the information that we have summarized in full below.
In early Asian trading on Monday (October 31) Beijing time, spot gold fell slightly in shock, and the current trading volume is around 1642 US dollars/ounce. The US consumer spending growth in September released last week exceeded expectations, while the core inflation pressure is still high, basically locking in the Federal Reserve will continue to raise interest rates by 75 basis points this week.
Last Friday, October 28, the US dollar index failed to recover from the 111 level, rising 0.09% slightly to 110.69, falling for two weeks in a row. After the Bank of Japan's resolution was announced, the yen fell more than 1% in the session, and the dollar broke through 147 against the yen. The pound fell first and then rose against the US dollar to close above 1.1610, up 0.4% during the day.
Forex tradingis trading or foreign exchange transactions or foreign exchange to a number of destination countries with business and tourism interests, and getting profits. So it's not surprising that many people want to do forex trading because it promises a lot of profit.
On Friday, October 28, Beijing time, spot gold shock slightly down in early trading of Asian market, and is currently trading near $ 1660 per ounce; investors generally wait for the performance of the evening U.S. PCE data for September, the market is expected to maintain the U.S. core annual rate of PCE will rise to 5.2%, which is expected to further give the Federal Reserve next week to raise interest rates by 75 basis points to provide data support, put gold prices under pressure.
On Thursday, October 27, the U.S. dollar index returned above the 110 mark, which closed up 0.811% at 110.59; the euro fell more than 1% against the dollar to lose parity, the pound fell 0.6% against the dollar to lose 1.16, and the dollar fell against the yen toward the 146 mark.
Charts are the main tools for technical analysis. Charts are using to plot a sequence of prices and price movements of an asset on certain of duration. It is just a graphical way of showing how the stock prices have performed. Chart has an x-axis called horizontal axis and a y-axis called vertical axis. Generally y-axis represents the price and the x-axis represents the time. A chart always represents the history of the volume of trading in an asset.
A forex signal is an indicator that derived from a factor or combination of factors by suggesting an optimal time to buy or sell a currency pair. However, forex traders with a technical analysis background are commonly use a number of forex signals in their forex trading. Signal trading is that you get rid of intuitive feeling trading, which might get you in trouble if you make a bad market call this is the main advantage of forex signals.
Learn step-by-step how to Trade Forex
Management is important for forex business. It is part of the ways to Success and gets profit easily. So, traders should know it deeply. Even more this business is full of risks.
A significant step towards market accessibility has been taken recently, as the leading online trading brand HFM (formerly Hotforex) announced the official launch of its app, available for both Android and iOS devices. This award-winning mobile application has already managed to spark the interest of many traders around the globe, even prior to its release, and now has become the talk of the town in the online brokerage industry.
On Thursday, October 27, Beijing time, spot gold shock slightly up in early trading of Asian market and is currently trading near $1,666 per ounce; market expectations for the Federal Reserve to raise interest rates in December 75 basis points cooled, the dollar and U.S. bond yields fell sharply overnight; the dollar index extended weakness on Thursday, once hit a nearly five-week low to 109.54, continue to provide support for gold prices.
On Wednesday, October 26, the dollar index fell below the 110 mark for the first time since Sept. 20, closing down 1.073% at 109.7. Non-U.S. currencies rebounded sharply, with the euro regaining parity against the dollar for the first time since Sept. 20.
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
During Tuesday's trading session, silver markets initially declined, but they have since recovered and begun to show signs of life.