Thread: Forex daily Analysis by FBS

Economic calendar and its currency impact

http://bit.ly/2E8CfTV

The dynamics of a currency pair depends on the economic news published daily, that is why the Economic calendar is one of the basics for fundamental Forex analysis.
Each currency is affected by different events. You should know the most important ones to be ready for any changes in the market. Learn in this article how to trade with it.
---------------------------------

News to trade on October 10

Check the candlesticks: http://bit.ly/2IOhtHA

10.10.2018

The US will impose tariffs on additional $267 billion of Chinese goods if China retaliates, according to Trump's words. It seems like countries are not ready for a trade deal as several meetings of China and the US have already been canceled. In addition, White House CEA Chair Mr. Hassett compared tariffs with taxes. He also said the budget deficit of the US is higher than anyone would expect.

In other news for the USD, Trump said he did not like the Fed policy concerning rates. In his opinion, the interest rate hikes are not necessary as the country does not have problems with inflation. However, he did not talk to Fed Chair Powell on this topic.

As a result of this news, the USD index dropped yesterday to the support at 95.23. Up to now, the currency is stabilizing. The level of PPI which will be released today at 15:30 MT time can affect the currency too. It's expected to increase by 0.2%. If the actual data overcomes the forecast, the USD will be supported. In that case, the resistance is at 95.85. If the released figures are lower, the USD will fall back to the support at 95.23.


The UK Brexit minister Mr. Raab made a speech yesterday. He said that the negotiations with the EU have taken a new level. He also added that an agreement could be reached by the end of autumn. However, a no-deal scenario is also possible, according to his words. Britain is planning to protect its interests and is not signing any agreement on the customs union with the backstop. As expected, the deadline for the decision was set on the October EU summit.

At the same time, Irish foreign minister added confidence of a Brexit deal on the border. He thinks that evidence on the deal become more certain in the next 6 weeks. As a result, the British pound rose. Monthly GDP growth and manufacturing production that were released today moved GBP/USD down a little as the figures came out lower than expected. On H1, the pair declined immediately after the release. However, the Brexit deal has a stronger impact on the pair. As a result, the pair managed to recover. If there is more news or statements, concerning the Brexit decision on the Irish border, the GBP will be supported. In that situation, the resistance is at 1.3182. If the US dollar is stronger after the economic release, there are risks of the fall to the support at 1.31.


Producers in the Gulf of Mexico decreased their production yesterday. After the news, Brent managed to cross the resistance at $84.43, while WTI tested the resistance at $74.71. According to the US Energy Information Administration’s (EIA) ‘Today in Energy’ report, the US continues to increase its crude oil production. This news affected the oil, as Brent fell down to the support at $84.43 and WTI is struggling to cross the resistance at $74.71. Crude oil inventories release tomorrow at 18:00 MT time may determine the direction of crude’s prices.

Financial minister of Italy Giovanni Tria said the government bad forecasts for the economy were approved by the budget commission. His comments brought uncertainties to EUR/USD, which resulted in doji candlestick. Today bulls tried to move the pair to the resistance at 1.1535, however, the strong US dollar did not allow it to increase. For now, the pair is moving down to the support at 1.1446.

Trading Styles. Scalping

It is one of the most popular forms of trading, especially among newcomers.

The main objective of scalping is to rush into the trade at the busiest hours of the day, grab a very small amount of pips and exit the market immediately. But the scalper must always know where to stop as overtrading may quickly erode the account balance once he/she steps into a bad streak.

The key advantage of this trading style is high potential returns (well, if you’re quick and dexterous enough to execute your trades in a very short period of time).

Scalping doesn’t suit those who are not used to trade in a high-risk environment.

Learn More about this type of Trading here ⤵
http://bit.ly/2C9dF2r


------------------------------------------

Trading Styles. Scalping

It is one of the most popular forms of trading, especially among newcomers.

The main objective of scalping is to rush into the trade at the busiest hours of the day, grab a very small amount of pips and exit the market immediately. But the scalper must always know where to stop as overtrading may quickly erode the account balance once he/she steps into a bad streak.

The key advantage of this trading style is high potential returns (well, if you’re quick and dexterous enough to execute your trades in a very short period of time).

Scalping doesn’t suit those who are not used to trade in a high-risk environment.

Learn More about this type of Trading here ⤵
http://bit.ly/2C9dF2r


------------------------------------------

#WeeklyCryptoNews

Check the graphs: http://bit.ly/2pQy5px

12.10.2018

Jeffrey Wernik, entrepreneur, crypto investor: “The question is, what for a typical middle-class person-how do they accumulate wealth? And I think their only answer is to put a certain percentage in crypto”

Bitcoin started bullish on Monday breaking the two-week resistance at $6610 and testing the pivot resistance at $6683. The crisis on the stock market when Nasdaq fell by more than 4%, S&P 500 and Dow Jones by more than 3% affected the price of the digital currency heavily. As cryptocurrencies are considered as high-risk commodities, they did not attract the investors due to the unstable market situation. On Thursday it tested its September lows at the support at $6190. For now, the digital currency is trying to recover testing the resistance at $6304. If it manages to close above this level, the next resistance is at $6437. Any negative activity on the digital currency market, as well as manipulations by Bitcoin whales, can make the currency weaker. In that case, the support is at $6190.

Regulations:

World trade organization sees global advantages in applying blockchain-technologies to financial and trade fields.
United Arab Emirates’ authorities compared ICO to the public offering of the common stock. They are also developing a new government cryptocurrency emCash in Dubai.
Financial regulator of Switzerland FINMA gave its first license for the regulation of crypto assets. Its owner is investment fund Crypto Fund.
Regulator of telecommunication industry of Great Britain Ofcom announced the start of the project of inserting Blockchain into phone communication system.
Harvard, Stanford and Massachusetts universities invest millions of dollars in cryptofunds. This is a good news for the legitimization of the sphere.

New releases:

South Korean popular messenger Kakao started testing its blockchain platform Klaytn.
Japanese IT giant GMO announced the release of GMO Japanese Yen in 2019. Token will be connected with Japanese currency. Finally, some diversity!

Key events to follow for the next week:

15 October - SolarTech Summit in Porto, Portugal

15 October - Mainnet coin, Metamorph trading platform launch.

16 October - FOTA platform launch.

17 October - Financial Times Digital Health Summit in New York, the USA

19 October - Start Engine Summit in Los Angeles, the USA



Bitcoin $6,321.1 (+0.31%)

DASH $162.10 (-1.45%)

Ethereum $197.49 (-1.82%)

Litecoin: $51.75 (+0.9%)

Lesson 17. Economic calendar

http://bit.ly/2yI9BTl Fundamental factors are not an abstract concept. Traders face them daily in a form of economic news, published in the economic calendar.
------------------------------------

Trend Trading Indicators. ADX

http://bit.ly/2IZwu9P ADX is a trend strength indicator. It automatically includes 3 lines. Learn in this article how to interpret it.
--------------------------------

Trading Styles and strategies. Carry Trade

http://bit.ly/2AfFqFo

It is a type of trading in which a trader sells a certain currency with a low-interest rate and then uses it to purchase another currency that yields higher interest. The main goal of a carry trader is to capture the existing divergence in interest rates and earn substantial profits with help of leverage.

Read the complete article to learn more about this interesting Trading strategy
--------------------------------------------

Attention: trading schedule changes!
Very important information for our traders! FBS reminds you of a trading schedule change due to DST!
Starting from October 28th, 2018 Europe is setting the clocks back one hour. The MetaTrader time is set back one hour as well. Pay attention to this fact, because it affects the trading schedule.
Trading for [XAUUSD, XAGUSD, Palladium, Platinum, WTI, BRN] will open one hour earlier MT time. Please keep this fact in mind when planning your trading sessions.
And remember: whenever you have questions or concerns, please feel free to contact the FBS support team!


http://bit.ly/2EsdKkF
-------------------------------------------

How Forex Factory alternatives offered by FBS can improve your trading experience.

http://bit.ly/2Ai4yLy

Every trader knows about Forex Factory. It is one of the biggest informational resources about Forex on the internet.
Learn in this article how to make the most from this web.
Know how Forex Factory alternatives offered by FBS can improve your trading experience?
-----------------------------------