Daily forex trade. Get comprehensive Forex reviews, Forex news and free Forex signals at mtnmaven.com – profitable FX trading starts with the right Forex reviews.

Daily forex trade

Daily forex trade. Learn The Forex Trading Strategies Used By The Mega Banks. Get Free Forex Training Videos, Forex Day Trading Course, and Daily Currency Market Analysis.

Daily forex trade

This could be usable. Click here to access IG Client Sentiment. Check out our trading guides. As we move deeper into the final month of the year, with a Non-Farm Payrolls report on the docket for this Friday and a FOMC rate decision on the calendar for next Wednesday — USD is unlikely to remain here for much longer.

But — this does open the door to setups around the U. Chart prepared by James Stanley. Yesterday we looked at a bullish channel in Cable with resistance coming in just before the mid-line of that channel. But in the wake of that pronouncement, profit taking pulled prices back to this Fibonacci level where support remained for a week.

When the BoE finally did hike rates in early-November, the British Pound sold-off to find support at the bottom of this bullish channel. That support grinded along the bottom portion of this channel for almost two full weeks until bulls could take control again; and as news that the U. On the hourly, we can see where price action has already started to narrow, and we can even set this up as a symmetrical wedge.

This type of compression pattern will often prelude a breakout in one direction or the other, and when gleamed from the prevailing trend, traders may be able to approach the setup with a bullish bias. This is the From the non-completed daily bar, we can see an exposed wick above this level, indicating that sellers are using this area to add bearish exposure.

Sellers Respond to Resistance Test prior support around. But — if we look one the shorter-term hourly, we can see where this price may be able to function as some element of short-term support.

So, this becomes interesting for today because if this shorter-term support cannot hold, indicating that traders are fading out this quick spurt of strength in the pair, then short-side setups can become attractive as the near-term trend starts to move in the direction of the longer-term move.

But — the return of short-term bearish price action would be required to get those two themes to align. It was just a week ago that a After the pair spent almost three full weeks grinding at resistance of After sellers began to take control, prices found support around the Since then, bulls have started to take control again to push prices-higher, and it appears as though another test of The big question, at this point, is whether resistance from the longer-term symmetrical wedge might be able to give.

Throughout this year the Dollar has been persistently weak. The Range Continues as Traders Eye Contact and follow James on Twitter: The US Dollar started the week on strong footing on the back of more progress in the Republican-controlled effort to implement a sweeping overhaul of the US taxcode. The greenback saw prices gap open higher versus the British Pound , Euro , and Japanese Yen , thanks to the hope that the legislative reform would ultimately result in higher deficit spending, and thus, inflation down the line.

Yet with signs emerging that the House and Senate tax bills won't be reconciled before the current Congressional session ends on December 14, the DXY Index hasn't been able to find much follow-through on the weekly gap open higher; it was a bridge to nowhere. The longer it takes for the tax bill to be passed into law, the less likely there will be a near-term impact on growth or inflation data.

Accordingly, with the US Dollar desperately waiting on tax reform developments, there are several pieces of data this week that could reinvigorate the greenback on their own. The relatively similar headline reading expected this Wednesday is indicative of currently favorable business conditions that are easing off the strong burst in sentiment that has been so prevalent in US markets.

To contact Christopher Vecchio, e-mail cvecchio dailyfx. To be added to Christopher's e-mail distribution list, please fill out this form. The Japanese Ye n traded broadly higher as Asia Pacific bourses followed Wall Street downward, offering a lift to the perennially anti-risk currency. Another quiet day on the European data docket seems likely to put sentiment trends back in the spotlight. With that in mind, risk appetite has been fickle over the past two days. It is unclear whether the same pattern is likely to hold when preliminary indications point to a risk-off bias, but traders would be wise to tread carefully.

As ever, politics remain a wildcard. Need help building confidence in your trading strategy? See the full DailyFX economic calendar here. Contact and follow Ilya on Twitter: Move Back Below 1. Click here to dismiss.

Price action and Macro. But How Stretched Are They? News events, market reactions, and macro trends. Fundamental analysis, economic and market themes Connect via: Japanese Yen may extend gains as stock futures hint at risk aversion Australian Dollar down after third-quarter GDP figures disappoint New Zealand Dollar attracts demand as Fed rate hike outlook cools The Japanese Ye n traded broadly higher as Asia Pacific bourses followed Wall Street downward, offering a lift to the perennially anti-risk currency.

Upcoming Events Economic Event. Forex Economic Calendar A:


1926 1927 1928 1929 1930