Tuesday, January 19

Forex

What is a Forex Spread? | Learn Forex in 60 Seconds
Forex, Learn in 60 sec

What is a Forex Spread? | Learn Forex in 60 Seconds

https://www.youtube.com/watch?v=cujrDhqhZBMA spread is the difference between the ask price and the bid price. In other words, it is the cost of trading. For example, if the Euro to US dollar is trading with an ask price of 1.14010 and a bid price of 1.14000, then the spread will be the ask minus the bid price. In this case, 0.0001. The spread of 0.0001 is equal to one pip. Spreads are calculated in the same way for yen-based currencies like USDJPY. If the yen to the US dollar is trading with an ask price of 120.42 and a bid price of 120.40, then the spread will be 0.02 (120.42 – 120.40). This is equal to 2 pips.Start TradingDisclaimer: The content in this video comprises personal opinions and ideas and should not be construed as containing personal and/or other investme...
EUR/USD Price Analysis: Extends downside break of 50-day SMA to refresh six-week low
Forex

EUR/USD Price Analysis: Extends downside break of 50-day SMA to refresh six-week low

EUR/USD takes offers near the lowest since December 09, 2020. Sustained break of 50-day SMA, downward sloping RSI favor sellers. Seven-day-old falling trend line adds to the upside barriers.EUR/USD takes offers near 1.2065, down 0.10% intraday, during Monday’s Asian session. In doing so, the currency pair drops to the fresh low since early December 2020 while stretching Friday’s downside break of 50-day SMA.In addition to the successful break below 50-day SMA, descending RSI line, which is far from oversold conditions, also back the EUR/USD bears in attacking 38.2% Fibonacci retracement of an upside from November 2020 to the monthly high.It should, however, be noted that December 02 low near 1.2040 and the 1.2000 threshold will be tough nuts to crack for the EUR/USD sel...
US Dollar Index Price Analysis: Looks consolidative near-term
Forex

US Dollar Index Price Analysis: Looks consolidative near-term

DXY extends the side-lined trading above 90.00 on Friday. Further upside targets the 2021 high near 90.70.DXY remains in a consolidative-mode and manages well to keep the trade above the 90.00 mark for the time being.If bulls regain control of the sentiment on a more serious stance, then the index could re-visit the so far YTD tops in the 90.70/75 band ahead of the weekly high in the 91.00 region (December 21). Above this level, the prevailing downside pressure is expected to mitigate somewhat.In the longer run, as long as DXY trades below the 200-day SMA, today at 94.50, the negative view is forecast to prevail.DXY daily chartCredit: FX Street
NZD/USD breaks above key downtrend, sets double top at 0.7240
Forex

NZD/USD breaks above key downtrend, sets double top at 0.7240

NZD/USD broke above a key downtrend on Thursday, though is back of 0.7240 highs now. The US dollar weakened predominantly against its more risk-sensitive G10 peers on Thursday, including the kiwi. The pair now appears to be in the early stages of forming an ascending triangle.NZD/USD has been somewhat on the back foot in recent trade, dropping back from close to session highs in the upper 0.7230s to current levels around 0.7220 and remaining well supported above 0.7200. The pair closed Thursday FX trade with decent gains amid a broadly softer US dollar, rising 0.6% or 46 pips. The US dollar weakened predominantly against its more risk-sensitive G10 peers on Thursday in the run-up to comments from the Chairman of the Federal Reserve Jerome Powell, who largely stuck to the usual dovish sc...
What is a Bid Price/What is an Ask Price? | Forex in 60 Seconds
Forex, Learn in 60 sec, Suggested

What is a Bid Price/What is an Ask Price? | Forex in 60 Seconds

https://www.youtube.com/watch?v=54o-uAkt6ssThe Bid price is the price a forex trader is willing to sell a currency pair for. Ask price is the price a trader will buy a currency pair at. Both of these prices are given in real-time and are constantly updating. So for example, the British pound against the US dollar has a bid price of 1.20720, that’s the price a trader wants to sell the GBPUSD. A seller who thinks a currency will decline, might sell at the bid price to take advantage of the fall. If the British pound against the US dollar has an ask price of 1.20740, that’s the price a trader wants to pay in order to buy the currency pair. The difference between the ask and the bid price is the spread.Trade ForexDisclaimer: The content in this video comprises personal opinion...
GBP/USD off the lows, looks to regain 1.3650 ahead of US data, Powell
Forex

GBP/USD off the lows, looks to regain 1.3650 ahead of US data, Powell

GBP/USD picks up fresh bids amid risk-on mood. DXY and Treasury yields bounce to cap cable’s upside. Eyes on US data, Powell and Biden’s speech amid UK covid updates.Fresh bids emerged once again near the 1.3615 region, allowing a bounce in GBP/USD back towards 1.3650 ahead of the European session.Despite the quick pullback, the bulls remain cautious ahead of the critical US weekly jobless claims data and a scheduled speech by the Fed Chair Jerome Powell. Investors will watch out for any hints on tapering amidst ongoing chatter over the taper talks, although many of the Fed officials dismissed the chances of tapering.The main event risk for the USD traders will likely remain President-elect Joe Biden’s expected $2 trillion stimulus package, the report of which trigger...
AUD/USD continues consolidation within pennant since start of 2021, breakout likely
Forex

AUD/USD continues consolidation within pennant since start of 2021, breakout likely

AUD/USD back below the 0.7750 mark on Wednesday, closing with losses of about 0.5%. Focus will be on events stateside this week, with Biden unveiling stimulus plans, Fed Chair Powell and plenty of data.AUD/USD came off the boil on Wednesday, closing FX trade with losses of about 0.5% or 40 pips and dropping back below the 0.7750 mark. The pair has been setting lower highs and higher lows since the start of 2021 and appears to be consolidating within a pennant structure that could be subject to a breakout.To the downside, support comes in the form of an uptrend linking the 28 December high and the 4 and 11 January lows. A break below this trendline would open the door to a move towards the 21-day moving average at 0.7650, which also happens to coincide with the current 2021 lo...
The best candlesticks – trading webinar
Forex, Technical Analysis

The best candlesticks – trading webinar

I held a YouTube live trading webinar on our YouTube channel where I talked, among other things, about the best 10 best candlesticks.I am a big fan of price action trading but I also see many problems in how most traders use candlesticks.On their own, candlesticks don’t have a lot of predictive power but once you put them into the whole chart context, they can really tell you a lot about what is happening on your price charts.I hope you enjoy the video!If you want to dig deeper into candlesticks and price action, make sure to check out my best-selling book: Technical Analysis MasterclassCredit: Tradeciety
GBP/USD: Fizzles BOE’s Bailey-led gains below 1.3700 amid UK’s covid fears
Forex

GBP/USD: Fizzles BOE’s Bailey-led gains below 1.3700 amid UK’s covid fears

GBP/USD eases from eight-day top after posting the heaviest gains in 10 weeks the previous day. BOE’s Bailey ruled out negative rates, UK government forced to set up temporary morgues amid virus-led challenges to healthcare system. Brexit costs more to UK fisheries, Brussels-London will talk finance cooperation soon. US policymaker push for Trump impeachment, President-elect Biden’s stimulus and virus woes eyed.GBP/USD steps back from the weekly top of 1.3693 to 1.3680, up 0.15% intraday, while heading into London open on Wednesday. The sterling jumped the most since early November the previous day as Bank of England (BOE) Governor Andrew Bailey dropped calls of negative rates. While the initial US dollar weakness helped cable to extend those gains early in Asia, rene...
What is a Pip? | Forex in 60 Seconds
Forex, Learn in 60 sec

What is a Pip? | Forex in 60 Seconds

https://www.youtube.com/watch?v=EfGmUiOPJCAA point in price, or pip for short, is the measure of change in a currency pair in the forex market. The acronym can also stand for a “percentage in point” and “price interest point”. It is a standardized unit and is the smallest unit of measurement by which a currency quote can change. Most currency pairs are measured to five decimal places. For pairs like EURUSD, a pip corresponds to the fourth decimal digit [EURUSD 1.06712]. Yen-based currency pairs like USDJPY are the exception, and are measured to three decimal places and the pip corresponds to the second decimal digit (USDJPY 114.612).Disclaimer: The content in this video comprises personal opinions and ideas and should not be construed as containing personal and/or other investm...