100 hour MA and trend line the topside extreme. The USDJPY has continued the ping-ponging with the high extreme at the 100 hour MA and trend line stalling the rallies, and a lower trend line stalling the falls (see earlier post )
Broadly unchanged JOLTS, CPI and PPI were the only new inputs this week and they didn’t have much effect. ForexLive
First test stalled the fall The EURGBP is moving toward support defined by its 50% of the recent move higher and the 200 hour MA at 0.8936 -0.89417 area. The low just reached 0.8943.
Modest rebound Yesterday, the GBPUSD fell below a trend line on the daily chart. Today the underside of that trend line was tested at the highs. The level held and the price continued the move lower (see daily chart below).
Forex news for North American trade on August 10, 2018 Markets – Gold down $1 to $1211 – WTI crude up 92-cents to $67.73 – S&P 500 down 20 points to 2833 We often use dramatic adjectives like ‘drop’, ‘tumble’ and ‘sink’ to describe forex moves but the fall by as much as 16.9% in the…
Love doesn’t pay the bills Meanwhile the Istanbul Chamber of Commerce is calling for urgent measures on the currency, saying it’s at a point where it’s forcing the quality of balance of payments. The meaning there is that it’s tough to get anything done when the currency is moving 1% minute to minute.
Fitch boosts Greece’s credit rating They say the completion of the final review of ESM programme paves the way for a successful exit form the ESM later this month.
Lets see what he comes up with next So far the strategy of begging people to buy the lira isn’t working. USD/TRY is at 6.37. ForexLive
It is a matter of fighting the fights that you can win. One of the things many retail traders complain about is the influence of algorithmic (or algo) traders on the market and their trading.
Does it take time, or talent (or neither)? I took a week off in Northern Canada and that gave me some time to think about how to get better at trading and fishing. Whether it’s catching fish or pips, the principles of getting better are similar. It’s not just about putting in the time but how you…