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Hello, everyone! The EUR/USD pair was actively trading yesterday. The price managed to test 1.1259 and then it returned to 1.1350. The pair dropped sharply forming a downward spike pattern. I expect the pattern to be completed today. The pair needs to test 1.1382 as well, and I am waiting for the price to reach this target during another upward wave.
Yesterday, Federal Reserve Chair Jemore Powell delivered a speech. His statement drove the greenback up. As a result, the euro/dollar pair suffered losses. Besides, the speech of FOMC Member John C. Williams implies the support of the US Dollar. Against this background, the US dollar gained upside momentum and advanced to the level of 1.1250, which I had been expecting for a long time. Moreover, the price broke through that level, then approached 1.1238, and overcame it again. Bulls have pared all of their early losses, reaching the level of 1.1334. According to the four-hour chart, the euro/dollar pair is trading above the upper border of the Ichimoku Cloud and the upper band of the TMA indicator, although it is still testing them. I believe that the euro/dollar pair will most likely hit the area of 1.1350 and then resume its downward movement. Thus, the US dollar will continue gaining in value. The quotes are expected to fix within the Ichimoku Cloud and then start to decline to the area of its lower border, as depicted on the trading chart. In general, I think the US dollar will show an even stronger rally by the end of the year.
EUR/USD forecast for today. According to the H1 trading chart, the moving average is heading upwards. The Stochastic indicator is moving towards the downside. The trendline is below the middle line. The H4 shows that the moving average is pointing downwards. The trendline is below the middle line. Stochastic indicator is heading for the bottom. According to the D1 chart, the moving average is pointing downwards. The Stochastic indicator is going towards the upside. The trendline is below the middle line. Thus, I believe that the euro will rise to the level of 1.1335. Yesterday, I expected the euro/dollar pair to reach the 1.1389 mark. However, the euro failed to approach that level and went down. Now I think the pair will gain in value again. At night, I opened a grid of orders from the bottom and closed it at a profit. At the top, my buy orders are still open.
EUR/USD forecast for today. According to the H1 trading chart, the moving average is heading upwards. The Stochastic indicator is inclined towards the upside. The trendline is above the middle line. The H4 chart shows that the moving average is pointing downwards. The trendline is below the middle line. The Stochastic indicator is heading for the bottom. According to the D1 chart, the moving average is moving downwards. The Stochastic indicator is going towards the upside. The trendline is below the middle line and is heading towards the top. I decided to open a long position as I expect the euro to rise to 1.1345. Today’s macroeconomic calendar includes several significant events that could have an impact on the US dollar. I think the euro/dollar pair will go up. Therefore, it is better to hold off on opening short positions.
amiron56's - Trading journal
Hi, everyone! Good morning and greetings to the readers and visitors of my trading journal. So far, all forex fellows are okay today and have good trading experience with different trading instruments. I welcome you to my journal, and I hope you will give me some feedback. On the economic calendar, we have some major events for the major currencies. The news "Unemployment Claims" from the US will be released today in the US session, and this event will have a massive impact on the main market. On the other hand, yesterday, the crude inventory provided red data, and the asset had been established in the bearish zone due to the global problem. It is correct that the H-4 chart made positive information on the business pair because it formed four more green candles yesterday, indicating that the price is trying to build a support near the 64.00 price mark, and the uptrend will begin. We found two bearish engulfing patterns in the US session, which brought its hourly support zone at 64.90 to test. I also keep my eye on the DXY market and see it is a comfortable position by trading below 38.2, so there is no possibility of a long correction. The SMA-100 and a horizontal support line at
Microtom7's Trading Journal
Hi, InvestSocial members and visitors. Many activities that I did not expect this week keeps occurring, besides the fact that I could not earn, the market has been funny and moves up and down so much that both the buyers and sellers could make money in a gambling approach. I don’t do that, but my confession is that I was so afraid yesterday when almost half of my account balance was gone and I became so helpless. Everything is normal again, my gladness is that I did not make a bad decision when I faced the harsh market of yesterday, my trading focus was to buy Cardano, Uniswap, Chainlink, EUR/USD and GBP/USD, those were exactly what I kept and things are changing to favour me. The story may seem easy with anyone reading it but it is a lesson to me to be brave and firm in trading. Wednesday’s Economic Events: The economic events prepared for today are more than the past days of this week, the decided ones are positive for AUD and GBP, neutral for JPY and negative for CNY and NZD. According to economists, the yet to be decided news may be positive for EUR, negative for CHF and neutral for GBP, USD and CHF. Still, the market may survive this news without having a major impact that may
According to the daily chart, EUR/USD trading on Tuesday was very interesting. Because after reaching 1.1385, the seller will be able to bring it down to 1.1340 support, which means that if you count that, it is about 45 pips. However, during the Asian trading session, the sellers pushed the price of EUR/USD. And now, the price is close to the price level of 1.1320. EUR/USD price also decline from the 20 SMA line of the Bollinger Bands. It seems that the EUR/USD is still likely to move to the downside. For today, sellers can decline the price to the support level from 1.1300 to 1.1250, where we have the bottom of the Bollinger Bands. I am using the Bollinger Bands indicator in the 4-hour chart, the current state of the price candle is above the 20 SMA lines of the Bollinger Bands, and the indicator shape is also upwards. However, I predict that the price will fall after the Bollinger Bands fall. Also, the EUR/USD price moved upward a bit yesterday, and now it's time to go down. So I plan to open a sell trade after that. Selling could accelerate after the 4-hour candle closes below the 20 SMA line. Because the 4-hour candle successfully closes below this line, the next target cou
Fundamental Technical Analysis of AUD/USD Fundamentally, AUD/USD fell to a new low of 0.7063 and is currently struggling around 0.7275. After the Fed chairman Powell's speech, the currency pair plummeted after the US stock market and hinted at tightening monetary policy shortly. In addition, disappointing Australian data has exacerbated the decline in the Australian dollar. In October, the number of building permits in the country decreased by 12.9% compared to the previous month, which is lower than expected. At the same time, recent developments with the new Coronavirus may force investors to cut rates on early Fed interest rates. Technically, The daily chart shows that the exchange rate is facing additional risks. The exchange rate remained below the moving average, and the 20-day SMA consistently fell below the long moving average. Therefore, before betting on further upside, it is advisable to wait until there is a break above in the highest range of 0.7165. Moreover, the relative strength indicator is slightly overbought. The Bullish Scenario is that the AUD/USD price is struggling around the peak of 0.7175. If it rises above this level, the AUD/USD price could rise to 0
Muzamilgujjar Trading Journal
Zero Floating Currently, I have zero floating. I made some trades on oil and gold, which were closed in profit. Now my profit is more than 45$, and I planned to withdraw it before making new trades. My current balance is 105$, and my bonuses are 56.12$. I have zero floating because my verification has expired. Now, I am waiting for the verification of the account. After that, I will make more trades. Closed Trades I made many trades to earn this profit, and most trades were on oil and gold. I found these very profitable because this is a good pair to make a handsome earning. But I considered money management while trading on these. Gold Trades I made two entries on gold at 1785.50 with different time frames, and I closed trades at 1788.62 and 1789.84, the profit of both trades was 7.46$. I consider the best entry point always gives good profit, but we need not be greedy as we got some profit. Oil Trades I made seven trades on oil six were sell trades, and one was buying. I closed the buy trade early because the oil trend was bearish, and I didn't want to take a risk. My entry points were in the range of 70.05 to 70.98. I placed the 0.01 lot trade on each because that was my targe
bappy4x's - Trading journal
A short-term sell-trade opportunity on the GBP/USD: Hello, everyone! Greetings to traders. I hope that you are all having a good trading week and making a handsome amount of profits using different trading instruments. However, today is Wednesday, and it is the middle of the week. Although yesterday we saw a huge bullish breakout from the US Dollar Index, according to the movement of the US Dollar Index, the price of the precious metal gold did not make such a bearish breakdown. At the beginning of the Australian session today, the price of gold made a bearish breakdown and reached the daily lower price at the $1771 price mark. At the beginning of the US session, the price of gold has been hovering towards the bullish region, and as of this writing, the price of gold is trading around the $1786 price mark. The bonus for week-47: The forum authority updated the bonus for week 47 just a few hours ago, and the bonus amount was credited just a few moments ago by the desired authority. I said earlier that my bonus ratio has been increasing significantly for a few weeks, and I predicted that I would get $200 as the following week's bonus. So, the prediction was correct, and the forum au
Anatoli trading journal
Hello, how are you? I see that so many traders wiped out their accounts following yesterday's GBP/USD market volatility. In general, however, this is a positive development because the Sterling/Dollar pair finally retested and rebounded strongly from the 1.3200 support level. This is what indicates a worthwhile buying opportunity. As a whole, yesterday the gold market took a bearish turn to drop below the level of 1780 but only due to the Powell speech. With the slow and steady bullish setup after the December 7 session, gold is poised to easily climb to the 2100 level in the upcoming weeks. Active Trades Let us now turn to the running trade. My entry is to buy gold and the GBP/USD currency pair. A buy entry in the gold market could only be justified if you are looking for stop losses. Gold broke below the level of 1780 yesterday, indicating a bearish breakdown. Stop-loss orders were triggered, wiping out large buying positions. In this case, the market is following a major bullish trend because the Head and Shoulders pattern is still valid above 1750. Taking a buy entry for the GBP/USD currency pair was also prompted by the move yesterday. In yesterday's session, the pair teste
H4 Technical Analysis Hello again. In the H4 time frame, the USD/CAD indicates a rising trend of the channel, within which the current price is reaching the lower limit of the ascending channel. But we still have to wait for the downturn, somewhat, the USD/CAD price is almost bullish, so technically, we need to be careful to open long positions. In the meantime, I can predict that the USD/CAD pair will be under pressure when the price falls due to the immediate support of 1.2730. We have to be patient until the price breaks the support level, but it is not easy for sellers to fall below it, as they have the 50 SMA line as strong support. Around the bottom line of the uptrend channel, which needs to be broken, especially, support 1.2720-1.2700, which repeatedly failed to break. If the seller can enter the area later, the seller will check the support area at 1.2640 to be able to move from the target price of 1.2590 to 1.2550. H1 Technical Analysis In the H1 time frame, USD/CAD prices are in the 100 SMA line and 200 SMA line, while in USD/CAD, 200 SMA lines are acting as dynamic support, and the price is still rising with channel support. So technically, we will look at these SMA