After a mixed start to trading, the Euro held above the 1.06 dollar mark on Friday. At midday, the common currency cost 1.0619 dollars, a slight increase from the previous evening. As of Thursday, the reference rate was set at 1.0633 dollars by the European Central Bank. The trading environment was quiet shortly before Christmas. […]
EUR/USD Forecast: Euro on track for second weekly profit in a row Read More »
Market conditions remain subdued early Friday as traders in the lead-up to Christmas remain subdued. A monthly report from the German Bundesbank will be released during European trading hours. A report on November’s Personal Consumption Expenditure (PCE) Price Index, the Federal Reserve’s preferred inflation measure, will be released by the US Bureau of Economic Analysis
US PCE inflation data expected before the Long weekend Read More »
When it comes to forex trading, whether or not a trading strategy is good or bad almost entirely determines whether or not it is profitable. The success rate of a trading strategy is the best indicator of its effectiveness. A good trading strategy yields the most profits, while a bad strategy yields a higher loss
Distinguishing Between Good and Bad Trading Strategies Like a Pro Read More »
The global crypto market cap decreased marginally over the last day to $810.31 billion, which led to mixed trading on December 22. Over the last 24 hours, the crypto market volume has decreased by 28.55% to $25.67 billion. Currently, DeFi has a volume of $1.49 billion, making up 5.79 percent of the total crypto market
Top Cryptocurrency Prices Today: Bitcoin and Tether trade flat; Polkadot down over 3% Read More »
After failing to build on the positive macroeconomic news-induced rally, the cryptocurrency market has slipped into a consolidation phase. As a result of the consolidation, the prices of two of the largest assets, Bitcoin (BTC) and Ethereum (ETH) have dropped to familiar levels. Overall, the crypto market capitalization stands at $812.53 billion despite the extended
FTX Fallout Intensifies as Traders Take Defensive Measures Read More »
After a pullback, Fibonacci extensions can be used to estimate how far a price may continue to move after setting profit targets. There is also a possibility of price reversals at extension levels. They are based on Fibonacci ratios (as percentages) and represent connections to points on a chart. 61.8%, 100%, 161.8%, 200%, and 261.8%
What are Fibonacci Extensions? Read More »
There have been many changes to daily life since the global pandemic began. In the 21st century, bosses have realized that their staff doesn’t have to work in the office to do the job. Stress doesn’t go away when workers work from home. COVID-19 has also been a factor in the forex market’s volatility. However,
Three Ways Covid Changed the Forex Trading Landscape Read More »
A major benefit of investing is building wealth and making money work for you. Forex trading is often the first thing new traders encounter when researching ways to invest online. Often, investors seek perspective by breaking down the pros and cons of different investment markets (forex, futures, indices, etc.) and adding those attributes to a
Some Key Insights of Forex Market Comparisons Read More »
Forex traders use this simple strategy to determine which forex trading plan is best for them based on their trading style. The 5-3-1 strategy is particularly beneficial for new traders who might feel overwhelmed by the number of available currency pairs and 24/7 trading hours. These 5, 3, and 1 numbers represent the following We
Breaking Down the 5-3-1 Trading Strategy Read More »
It means betting against the market when you go short or short-sell. When you sell an asset in this situation, you assume the price will fall, and the more it falls, the more profit you make. A short position is the opposite of a long position, in which you anticipate a rising market and would
What is Short Selling in Forex? Read More »
