Thread: Forex daily Analysis by FBS

LESSON 18. Combining TA and FA http://bit.ly/2Exl2n8

Both fundamental and technical analysis have their advantages and drawbacks, so it’s best to combine these 2 methods. This way you will get the fullest view of what is happening in the market.
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How to combine your life and trading?

http://bit.ly/2yYs52b

If you consider trading as your job, you need to be prepared for a lot of challenges. As with any freelance or entrepreneurship, the key to successful trading is your self-awareness. Not every person is prepared to work independently for himself. Learn how to start with this new life.
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Trading Styles and strategies. Day Trading Style http://bit.ly/2EIwUTm

It is another short-term trading style. A day trader normally takes a single trade a day and closes it once the day is over.


Read more about this trading style and find out whether this can be your style.
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News to trade on October 25

Check the candles: http://bit.ly/2EI3NQf

25.10.2018

The European Central Bank will announce its official rate and conduct a press conference at 15:30 MT time. We do not anticipate the rate hike, however, the European Central Bank president Mario Draghi can make some hawkish comments for the EUR. For now, EUR/USD is testing the resistance at 1.1421. The hawkish comments by the European Central Bank President can make the pair rise to the next resistance at 1.1521. However, if the USD is strong or more concerns on the Italian budget come out, it will fall to the support at 1.1331.


As for the USD the level of core durable goods orders of the United States will be published. Analysts expect it to increase by 0.5%. If today’s data support the USD, the next resistance will be at 96.6. Otherwise, it will fall below the support at 96.02 to the next support at 95.25.


Yesterday Fitch placed Australia higher on the credibility rating. It made the aussie to rise towards the resistance at 0.7083. If the USD is strong, the pair will fall below the support at 0.7050. Otherwise, the pair will rise above 0.7083.


Follow us for more news!

What is Technical Analysis?

Technical analysis is an analysis methodology for forecasting the direction of the price movement or price action of a market over time. It is based on three basic assumptions:

Market price at any given point in time accurately reflects all available information.
Price changes move according to market trends, that can be identified in order to make profit from investing.
History repeats itself over long periods of time.

Like weather forecasting, technical analysis is not an exact science, but it works. By using technical analysis to anticipate the most probable direction of a price move, it is possible to make profit.

What do you think about Technical analysis? Tell us in the comments below.
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5 things you need to know this week

More at: http://bit.ly/2PvIjdq

29.10.2018

US CB Consumer confidence (Tue, 17:00 MT time) – as you may know, this indicator shows the level of consumer spending. That means you will spend more if you confident in economic conditions. Analysts expect it to drop to 136.3 points from reaching 138.4 points in September. Remember, the higher-than-expected level is good for the greenback.

The Bank of Japan press conference (Wed, tentative) – some experts anticipate the probable changes to the monetary policy of the BOJ, following the latest statements from its Governor Haruhiko Kuroda. A combination of the hawkish statements from the Bank of Japan and a sell-off in the equity markets can be quite supportive for the JPY.

Canadian GDP m/m (Wed, 15:30 MT time) – this is a nice opportunity to trade the loonie during this week, too. Last time the economic activity of the country increased by 0.2%. There is no official forecast yet, but it will definitely be announced before the release of the actual data. We will keep you updated.

Monetary policy summary from the Bank of England (Thu, 15:00 MT time) – while there are no expectations of the rate hike, the bank can make some supportive comments for the GBP. It will help the currency to recover during the uncertain Brexit times.

US non-farm employment change and employment rate (Fri, 15:30 MT time) – the NFP is forecast to expand to 191 thousand people from 134 thousand in September. At the same time, the unemployment rate will reach 3.8%, according to analysts. This level is higher than in September (3.7%), which can have a negative impact on the currency. We will see how the actual data will affect the USD.

Hot topics:

During the Brazil elections, Jair Bolsonaro from Social Liberal Party is proclaimed as a new president-elect. His victory speech contained his goals to reduce the size of the state and the public deficit and to cut bureaucracy and regulations.
French finance minister Bruno Le Maire told the press he did not see any risks of contagion from Italy’s budget crisis in the European Union (EU).
China is planning to impose the anti-dumping tax on the chemicals from the US, Saudi Arabia, Malaysia, and Thailand.
UK's Exchequer Phillip Hammond will deliver his speech today at 18:30 MT time. During his latest interview, he told the country need to find a new tax and spending plan. He also suggested extending the supportive measures if the solution on Brexit problem is not reached soon.

Have a successful week of trading!

Trend trading vs counter-trend trading. http://bit.ly/2PtiBX2 One of the principles of technical analysis is that price moves in trends. Every trend consists of periods when the price moves in the direction of this trend and smaller periods of counter-trend corrections.
Learn in this article two strategies to get the most on each scenario.
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Position Trading Style
Position trading is the longest-term trading style that requires a good understating of fundamentals, a good foresight into how price will fluctuate in the long-term. It’s a trading style for traders who don’t mind waiting for long periods of time for their well-deserved rewards.

The primary goal of position traders is to benefit from the dominant trends rather than from short-term market fluctuations. Any position trader needs to have a sizeable account.
They tend to ignore random market fluctuations that might frighten away less confident players.

Warren Buffet is the most prosperous market participants executing long-term trades.

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At the beginning many traders hope that they will become successful and millionaire in a day or week. Forex is not a money making machine. It is not an easy task to do. Many traders are failing and leaving the market after losing all the hope. Surviving is the main thing in forex market. Now I am trading with FXPremax. They are providing the all the hope and support which I need mostly.

FBS is a platform that allows the user to get the required info about market, that allows the trader to keep track about the market details and market trends, which will help them to know which way their investment is heading, by understanding the trends in the market, these types of sites are reliable source of information.