Open trading account 
Possible long trade setup on EURGBP, after break of the trend price came back to retest it, and this would be a good place to go long with stop lose just below the the trend,
Community Blog
EURopean Market Wrap: FTSE Pushes to a Three-Week High
Geopolitical risks including Syria, North Korea and the upcoming French elections are driving the markets in Europe as well as UK inflation which holds steady at a three-and-a-half-year high pushing the FTSE to a three-week high.
UK inflation remains at 2.3% for March, with rising prices for food, booze, tobacco, clothing and shoes, and goods and services as the main contributors. These price rises were offset by lower air fare and motor fuel prices, but much of this is the timing of Easter, whi…
UK inflation remains at 2.3% for March, with rising prices for food, booze, tobacco, clothing and shoes, and goods and services as the main contributors. These price rises were offset by lower air fare and motor fuel prices, but much of this is the timing of Easter, whi…
USD/CAD Slips to Fresh Weekly Low
- USD/CAD extends the decline from earlier this week, with the pair slipping to a fresh weekly low of 1.2742 as Canada Retail Sales beat market expectations; will keep a close eye on the downside targets following the failed test of the monthly high (1.3143) as the pair continues to carve a near-term series of lower highs & lows.
Dollar Soft after Yellen Testimony, Brexit Campaign Enters Final Day
Dollar recovered mildly against Euro and Yen but stays weak against other major currencies after Fed chair Janet Yellen's testimony before Senate Banking Committee. Yellen noted a few risks to law makers including "Brexit". She said that "a UK vote to exit the European Union could have significant economic repercussions". Also, "mixed readings on labor market and economic growth" warranted caution together with "vulnerabilities" in the global economy. Nonetheless, she's optimistic that the headw…
USD/CHF
New strategy :
Hold long entered at 0.9600, Target: 0.9700, Stop: 0.9545
Position : - Long at 0.9600
Target : - 0.9700
Stop : - 0.9545
Failure to extend intra-day rebound and current retreat suggest further consolidation would be seen, however, as long as last week's low at 0.9572 holds, mild upside bias remains for another bounce, above resistance at 0.9643 would signal the retreat from 0.9687 has ended, bring another test of this level, break there would provide confirmation that a temporary l…
Hold long entered at 0.9600, Target: 0.9700, Stop: 0.9545
Position : - Long at 0.9600
Target : - 0.9700
Stop : - 0.9545
Failure to extend intra-day rebound and current retreat suggest further consolidation would be seen, however, as long as last week's low at 0.9572 holds, mild upside bias remains for another bounce, above resistance at 0.9643 would signal the retreat from 0.9687 has ended, bring another test of this level, break there would provide confirmation that a temporary l…
EUR/USD Daily
EUR/USD jumps sharply today but stays below 1.1414 resistance. Intraday bias remains neutral first. On the downside, break of 1.1097 support will confirm resumption of fall from 1.1615. More importantly, that will indicate completion of rebound from 1.0517. And, in that case, retest of 1.0461/517 resistance zone would be seen. Nonetheless, above 1.1414 will turn focus back to 1.1615 instead.
In the bigger picture, overall price actions from 1.6039 long term top is viewed as a corrective pattern …
In the bigger picture, overall price actions from 1.6039 long term top is viewed as a corrective pattern …
Weekly Review
Yen Picking Up Strength as Markets Enter Second QuarterDollar ended last week broadly lower as positive job data failed to counter the negative impact from Fed Chair Janet Yellen's dovish talks. Nonetheless, overall developments in the financial markets were rather mixed. Stocks ended up high with DJIA closed at 17792.75 and S&P 500 at 2072.28. Both are on track for retesting records highs even though they started to lose moment. On the other hand, WTI crude oil looked like it finally topped out…
Technical Analyses
EURUSD rallies upwardsThe EURUSD pair traded with strong positivity yesterday to begin testing 1.1400 barrier, showing some slight bearish bias affected by stochastic current negativity, waiting to gather enough positive momentum to push the price to resume the bullish bias that its next target located at 1.1494. Therefore, our bullish overview will remain valid and active for the upcoming period supported by the EMA50, noting that breaching the targeted level will extend the bullish wave to rea…
EUR/USD - USD-JPY
The American dollar traded broadly lower against most of its major rivals, as renewed oil's weakness spurred risk aversion across the board, resulting in a sharp decline in worldwide stocks. The TEUR/USD pair advanced up to a daily high of 1.0939 this Tuesday, but was unable to advance further beyond the top of its recent range, easing towards the 1.0890 region, where short term buying interest sent it back towards its highs. In Europe, the EU Producer Price Index in the region fell by 0.8% in D…
LATE FRIDAY AND SUNDAY OPEN
- Friday NY sessions are not that volatile normally. If you only trade the NY sesson, take your day off
- If you have orders open on Friday, it's wise to close them unless you are a position trader. You don't want to be caught by a big gap on Sunday open due to speculations or an unplanned high impact news event that occured during the weekend