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EUR/USD, GBP/USD, and USD/JPY Technical Analysis & Forecasts!
EUR/USD extends its bullish momentum, most likely it will reach new highs as the US Dollar Index could drop deeper. The USDX is traded at 94.84 level, the next critical downside obstacle stands at 94.65, personally, I believe that the index will hit this level soon.To get more news about Expert 24 Trade, you can visit wikifx news official website.
You should keep an eye on the economic calendar today as the US is to release the Unemployment Claims data, the indicator is expected around 1300K in the previous week, while the CB Lending Index could increase by 2.1%, versus 2.8% in the previous reading period.
EUR/USD is traded at 1.1585 level, below 1.1602 yesterdays high, the price tries to come back above the 1.1600 psychological level again, it remains to see what will happen later as the Euro-zone Consumer Confidence will bring high volatility.
You can see that the USDX is almost to reach the 94.65 static support level, the 50% Fibonacci line is seen as strong support as well. A bounce back, rebound from the confluence area formed at the intersection between the 50% line and the 94.65 will signal that the USD will strike back, will appreciate again versus its rivals.
The current downside movement will be ended if the USDX will make a reversal pattern right on the 94.65 level. A valid breakdown below the 50% line and below the 94.65 will validate a further drop, this scenario will signal that EUR/USD and the GBP/USD will reach new highs in the upcoming period.
Ive said yesterday that, EUR/USD will approach and reach the first warning line (WL1) of the former descending pitchfork after aggressive breakout above the 1.1495 level, static resistance. The pair is trading in the green and most likely it will hit the warning line (WL1) in the upcoming hours.
A valid breakout above the WL1 will confirm further growth towards new highs, so we may have another long opportunity, while a false breakout, rejection, will signal a minor drop towards the 1.1495 in the short term.
GBP/USD is traded at 1.2746, it has managed to close above the 61.8% retracement level, so the next upside target is seen at the median line (ML) of the major ascending pitchfork. The pair is trapped within an up channel, between the 50% Fibonacci line and the median line (ML), so the outlook is bullish.
A consolidation, stabilization, above the broken 61.8% level will suggest buying again with a first potential target at the median line (ML) of the ascending pitchfork. Only another false breakout above the 61.8% level will invalidate a further increase and will bring a short opportunity in the short term.
USD/JPY has closed again above the 107.00 psychological level and now is pressuring the 50% Fibonacci line of the descending pitchfork. A valid breakout above this dynamic obstacle will announce a potential rally towards the upper median line (UML).
The 106.60 is seen as a critical support level, a downside breakout will suggest selling, but the price has failed to reach this level again signaling a potential upside movement in the short term.
USD/JPY has failed to reach and retest the median line (ML) in the last attempts, so a bullish momentum is favored, the first target is represented by the UML, well have a larger upside movement only if the pair will take out this dynamic resistance.
World of Warcraft is losing players, and the players that have stuck
with the video game are aging.So, just ahead of World of Warcraft's 15th
anniversary, Activision Blizzard is going retro.To get more news about Buy WoW Items, you can visit lootwowgold news official website.
The company launched World of Warcraft Classic Monday, a nostalgic version of the multiplayer online roleplaying game, in which players can adventure as orcs and elves, among other characters.World of Warcraft Classic returns things to the way they were when the game first launched in 2004.It will be available for no additional charge to current subscribers to the game.
Classic WoW is no walk in the park.
Players must manually search for others to team up with for massive raids that involve 40 people communicating and working together — moments that have led people to make real-life friends.
Traveling from town to town will take time. The graphics are significantly pared back to resemble the original.We really approached this as almost like an archaeological dig. 'What was it like back then?'" said John Hight, World of Warcraft's executive producer and vice president.
"We're carefully scraping the dust off the dinosaur bones and bringing it back to life."
The company said interest in World of Warcraft Classic was so strong that it overwhelmed Blizzard's servers.
More than 2 million players created characters in anticipation of the launch, Blizzard said.Although there are over 140 million accounts on World of Warcraft, the game currently has just five million individual subscribers, data collector Statista estimates, down from the 12 million players the game had back in October 2010.
That represents an opportunity: Activision Blizzard is betting on nostalgia to bring back some older players and to lure new ones.
"We have this audience that played it originally, and they want to come back, and then we have this new audience that has never played it and they want to check it out," said Hight.
"What will be interesting to see is in the months to come, who stays with it."
Because WoW has lost millions of subscribers, the potential market for World of Warcraft Classic is huge, noted Will Partin, a doctoral candidate studying the gaming industry at the University of North Carolina, Chapel Hill.
"The big challenge is that many of the players who left WoW left because life took over and their priorities shifted," said Partin.
The company launched World of Warcraft Classic Monday, a nostalgic version of the multiplayer online roleplaying game, in which players can adventure as orcs and elves, among other characters.World of Warcraft Classic returns things to the way they were when the game first launched in 2004.It will be available for no additional charge to current subscribers to the game.
Classic WoW is no walk in the park.
Players must manually search for others to team up with for massive raids that involve 40 people communicating and working together — moments that have led people to make real-life friends.
Traveling from town to town will take time. The graphics are significantly pared back to resemble the original.We really approached this as almost like an archaeological dig. 'What was it like back then?'" said John Hight, World of Warcraft's executive producer and vice president.
"We're carefully scraping the dust off the dinosaur bones and bringing it back to life."
The company said interest in World of Warcraft Classic was so strong that it overwhelmed Blizzard's servers.
More than 2 million players created characters in anticipation of the launch, Blizzard said.Although there are over 140 million accounts on World of Warcraft, the game currently has just five million individual subscribers, data collector Statista estimates, down from the 12 million players the game had back in October 2010.
That represents an opportunity: Activision Blizzard is betting on nostalgia to bring back some older players and to lure new ones.
"We have this audience that played it originally, and they want to come back, and then we have this new audience that has never played it and they want to check it out," said Hight.
"What will be interesting to see is in the months to come, who stays with it."
Because WoW has lost millions of subscribers, the potential market for World of Warcraft Classic is huge, noted Will Partin, a doctoral candidate studying the gaming industry at the University of North Carolina, Chapel Hill.
"The big challenge is that many of the players who left WoW left because life took over and their priorities shifted," said Partin.
People are used to thinking about the old. Throughout the versions of
Warcraft, although each version has a sound of praise and demeanor, and
compared with the earliest classic one, the current Warcraft is already
another game in the degree of delicacy. But in contrast, the initial
rough has become the most classic version.To get more news about WoW Gold Classic Cheap, you can visit lootwowgold news official website.
Just as some people like to listen to the old songs, some people love retro costumes, there will be lots of old players joining in at the opening of World of Warcraft Classic. It has been 15 years from the vanilla era in 2005 to the latest Warcraft. And the classic old age seems to be far away, like the adventures of ignorant teenagers in another world. Warcraft’s most prosperous period is level 60s, which is a milestone in MMO games. The background of the Official World of Warcraft Classic is also attached to the level 60’s version, which is the first big version of World of Warcraft, creating a new world for us. In this world, people who went in couldn’t get out, and those who got out couldn't forget it.
The classic plots can't be forgotten; the career quests can't be forgotten; the night specializing in talent tree can't be forgotten; the simplicity, kindness and blood times can't be forgotten; the brothers who were playing together couldn't be forgotten; and also the 'ME' who could hold on to one thing for so long, can't be forgotten...
The days used to be very slow, and at that time, we, in World of Warcraft, were interested in long time leveling and risking adventure as residents of Azelas.
Do we really need the Classic?
There are different views on the opening of World of Warcraft Classic. The straight leveling up, the flying mounts and the random raids have saved us a lot of time. And this is the regular pace of life. Then why the players like the classic version? In fact, there are a large number of loyal players of blizzard who do not want to follow the current version to keep moving forward, but choose to stay in a fixed version of the game in their own way. Maybe because most of the people who played Warcraft were students and now they are already the head of the family. They no longer have the energy to accept new things, but miss the past, so classic is the best choice.
A few years ago, an old player said that if there were a classic version, he would create a new account and then point to the dazzling items maps and tell his son one by one.
Just as some people like to listen to the old songs, some people love retro costumes, there will be lots of old players joining in at the opening of World of Warcraft Classic. It has been 15 years from the vanilla era in 2005 to the latest Warcraft. And the classic old age seems to be far away, like the adventures of ignorant teenagers in another world. Warcraft’s most prosperous period is level 60s, which is a milestone in MMO games. The background of the Official World of Warcraft Classic is also attached to the level 60’s version, which is the first big version of World of Warcraft, creating a new world for us. In this world, people who went in couldn’t get out, and those who got out couldn't forget it.
The classic plots can't be forgotten; the career quests can't be forgotten; the night specializing in talent tree can't be forgotten; the simplicity, kindness and blood times can't be forgotten; the brothers who were playing together couldn't be forgotten; and also the 'ME' who could hold on to one thing for so long, can't be forgotten...
The days used to be very slow, and at that time, we, in World of Warcraft, were interested in long time leveling and risking adventure as residents of Azelas.
Do we really need the Classic?
There are different views on the opening of World of Warcraft Classic. The straight leveling up, the flying mounts and the random raids have saved us a lot of time. And this is the regular pace of life. Then why the players like the classic version? In fact, there are a large number of loyal players of blizzard who do not want to follow the current version to keep moving forward, but choose to stay in a fixed version of the game in their own way. Maybe because most of the people who played Warcraft were students and now they are already the head of the family. They no longer have the energy to accept new things, but miss the past, so classic is the best choice.
A few years ago, an old player said that if there were a classic version, he would create a new account and then point to the dazzling items maps and tell his son one by one.
A Stop N Shop in Irving sold a $1 million lottery ticket to a local resident.Sandra Heard Blanton claimed a second-tier prize of $1 million in the Texas Lottery scratch ticket game Instant Millionaire.Get more news about 彩票包网平台,you can vist loto98.com
"I felt like I wasn't looking at it right; I was in disbelief," Blanton told the Texas Lottery."I stopped scratching midway through to see if I really won and then when I realized I did, I started hollering at the lady at the cash register to let her know. I went back to the house and called all of my children and grandchildren. They thought I was joking."
Blanton claims to previously have won at least $1,000 on multiple occasions, including $2,300 on one occasion.Blanton's prize was the 23rd of 40 second-tier prizes worth $1 million to be claimed.
Two people are in custody in Flowood accused of trying to claim a
$100,000 lottery prize with a fake scratch-off lottery ticket.Get more
news about 彩票包网,you can vist loto98.com
Bond was set Tuesday for the two by a Flowood municipal judge. Odis Latham, 47, received a $51,000 bond, and Russell Sparks, 48, was given a $21,000 bond during their initial court appearance via video conference from jail. They both pleaded not guilty. Sparks is scheduled for a preliminary hearing Thursday. No date has been set for a preliminary hearing for Latham.
Latham and Sparks, 48, both of Columbus, were charged with conspiracy to commit a felony and uttering a counterfeit instrument over $1,000. Latham was also charged with false ID Information.
Mississippi Lottery Corp. spokeswoman Meg Annison said the two individuals came to the lottery headquarters in Flowood Monday morning seeking to claim the prize.Annison said lottery officials immediately determined the ticket had been altered. It appeared glue had been used.
Annison said the Lottery Corp. has measures in place to ensure a ticket is legitimate, including a bar code.
Sgt. Adam Nelson of the Flowood Police Department said about 9:20 a.m., Flowood police received a call from the Mississippi Lottery Corp. in reference to two adult males attempting to pass a fake lottery ticket.
Flowood officers arrived on scene moments later and took both subjects into custody. After speaking with lottery officials, officers learned that the suspects presented a $100,000 ticket that had been altered by gluing the winning numbers on the ticket that matched the prize. The ticket was signed and presented to the commission for payment.
Bond was set Tuesday for the two by a Flowood municipal judge. Odis Latham, 47, received a $51,000 bond, and Russell Sparks, 48, was given a $21,000 bond during their initial court appearance via video conference from jail. They both pleaded not guilty. Sparks is scheduled for a preliminary hearing Thursday. No date has been set for a preliminary hearing for Latham.
Latham and Sparks, 48, both of Columbus, were charged with conspiracy to commit a felony and uttering a counterfeit instrument over $1,000. Latham was also charged with false ID Information.
Mississippi Lottery Corp. spokeswoman Meg Annison said the two individuals came to the lottery headquarters in Flowood Monday morning seeking to claim the prize.Annison said lottery officials immediately determined the ticket had been altered. It appeared glue had been used.
Annison said the Lottery Corp. has measures in place to ensure a ticket is legitimate, including a bar code.
Sgt. Adam Nelson of the Flowood Police Department said about 9:20 a.m., Flowood police received a call from the Mississippi Lottery Corp. in reference to two adult males attempting to pass a fake lottery ticket.
Flowood officers arrived on scene moments later and took both subjects into custody. After speaking with lottery officials, officers learned that the suspects presented a $100,000 ticket that had been altered by gluing the winning numbers on the ticket that matched the prize. The ticket was signed and presented to the commission for payment.
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I. Market evaluation (Fundamental Analysis)
- The very first rule of gold is that the price has always increased whenever a crisis occurred so far. There are many reasons for the price to go up, such as trade struggles, inflation, climate change, etc. and whether these impacts are more or less, they are all the premises to leverage gold prices.To get more news about WikiFX, you can visit wikifx news official website.
- In the last half of century, gold price has experienced 2 very strong increases. The first round was when governments gave up the policy of controlling gold price and eased the ban on private ownership of gold, happening around 1970. The price of gold then seemed like a long-term repression that had the opportunity to launch, in the exactly same time when economic and political points are more volatile, creating a “gold rush” speculation, price soared from 35 USD/ounce to 800 USD/ounce in 1980.
- It was a time when gold prices were at their peak, and from there began to go down after central banks sold out tons of gold. By 1999, each ounce of gold cost only 250 USD. - The downtrend then ended when European central banks agreed to coordinate in selling gold to stabilize this precious metal price. China also expanded the object of people allowed to own gold, the amount of buying back increased. Exchange-traded funds (ETFs) - which represent gold-holding investors - also create favorable conditions for people to hold the bullion.
Also from 2003 to 2011, the annual demand for gold has increased from about 2,600 tons to more than 4,700 tons, pushing prices up to a peak of 1,900 USD/ounce in 2011, then hindered market demand. As a result, the price has dropped to only 1040 USD/ounce by the end of 2015 and early 2016, from then until 2019, when central banks started lowering interest rates, dragging government bond yields down, gold become more attractive to investors.
So the question now is whether gold (XAU/USD) will continue to increase in 2020-2021 or not？ And what factors will play the main role？
1. Economic Instability
Thanks to special physical properties, gold is both a special commodity and a currency to store and trade. Since ancient times, gold has always played an important role in the economy, with the role of real assets used to reserve, whenever the world economy is unstable, people will rush to buy gold. The reason is that when the economy is difficult and unpredictable, doing businesses will become more struggling, other high-risk investment channels, declined securities, devalued currencies, etc. gold is considered as the most convenient safe haven asset. Great buying demand will push gold price up.
2. US – Index
Because the currency US dollar acts as an international payment currency, and the world price of gold is also traded in US dollar, so the relative value of gold is expressed in US dollars. Therefore, when the USD depreciates, it means that gold price increases and vice versa.
3. Gold Supply
Because gold is also a commodity, its price also changes according to the law of supply and demand. There are three factors that change the world's gold supply.
· First, the nation's gold reserves policyIf one or several countries decide to buy gold to store in large quantities, the world gold price will increase and vice versa. Therefore, monitoring the world's news regarding gold trading policies of major central banks will be good for predicting gold prices.· Second, the influence from the gold trading of large fundsCurrently there are a number of large funds holding huge amounts of gold. Every movement of these big players will has a strong influence on world gold prices. In particular, these funds have launched fund certificates to attract many speculative investors into this market.These funds include:- IMF: holds about 3,100 tons of gold- SPDR Gold Trust: This is considered the largest gold investment fund in the world. This fund currently holds about 768 tons (2019).
· Third, the world gold production/mining
The countries known for having the largest gold mining output in the world are China, Australia, Russia, USA, South Africa and Canada. Every time the mining output in these countries declines, it will cause world gold prices to rise and vice versa.
Since the Covid-19 pandemic began to spread from the beginning of 2020, putting the world into a deep crisis, companies filed for bankruptcy are increasing, unemployment rate goes up day by day. In addition, those lockout policies to limit the widespread of Covid-19 epidemic have caused a decline in exports, forcing the world's central banks to launch bailouts for their economy. In the US, for example, the US Federal Reserve has launched a $ 2,000 billion bailout package, leading to a decline in bond yields and an increase in the risk of inflation, which has slipped prices for other assets and currencies.
- However, the pandemic situation is still quite complicated in the present context, the second wave has come back in quite a lot countries and territories, plus the widespread situation is quite unpredictable, for example, Australia and several US states have reported a spike in new cases of virus infection as well as Latin America or India, the second largest consumer of gold bullion in the world.
- The very first rule of gold is that the price has always increased whenever a crisis occurred so far. There are many reasons for the price to go up, such as trade struggles, inflation, climate change, etc. and whether these impacts are more or less, they are all the premises to leverage gold prices.To get more news about WikiFX, you can visit wikifx news official website.
- In the last half of century, gold price has experienced 2 very strong increases. The first round was when governments gave up the policy of controlling gold price and eased the ban on private ownership of gold, happening around 1970. The price of gold then seemed like a long-term repression that had the opportunity to launch, in the exactly same time when economic and political points are more volatile, creating a “gold rush” speculation, price soared from 35 USD/ounce to 800 USD/ounce in 1980.
- It was a time when gold prices were at their peak, and from there began to go down after central banks sold out tons of gold. By 1999, each ounce of gold cost only 250 USD. - The downtrend then ended when European central banks agreed to coordinate in selling gold to stabilize this precious metal price. China also expanded the object of people allowed to own gold, the amount of buying back increased. Exchange-traded funds (ETFs) - which represent gold-holding investors - also create favorable conditions for people to hold the bullion.
Also from 2003 to 2011, the annual demand for gold has increased from about 2,600 tons to more than 4,700 tons, pushing prices up to a peak of 1,900 USD/ounce in 2011, then hindered market demand. As a result, the price has dropped to only 1040 USD/ounce by the end of 2015 and early 2016, from then until 2019, when central banks started lowering interest rates, dragging government bond yields down, gold become more attractive to investors.
So the question now is whether gold (XAU/USD) will continue to increase in 2020-2021 or not？ And what factors will play the main role？
1. Economic Instability
Thanks to special physical properties, gold is both a special commodity and a currency to store and trade. Since ancient times, gold has always played an important role in the economy, with the role of real assets used to reserve, whenever the world economy is unstable, people will rush to buy gold. The reason is that when the economy is difficult and unpredictable, doing businesses will become more struggling, other high-risk investment channels, declined securities, devalued currencies, etc. gold is considered as the most convenient safe haven asset. Great buying demand will push gold price up.
2. US – Index
Because the currency US dollar acts as an international payment currency, and the world price of gold is also traded in US dollar, so the relative value of gold is expressed in US dollars. Therefore, when the USD depreciates, it means that gold price increases and vice versa.
3. Gold Supply
Because gold is also a commodity, its price also changes according to the law of supply and demand. There are three factors that change the world's gold supply.
· First, the nation's gold reserves policyIf one or several countries decide to buy gold to store in large quantities, the world gold price will increase and vice versa. Therefore, monitoring the world's news regarding gold trading policies of major central banks will be good for predicting gold prices.· Second, the influence from the gold trading of large fundsCurrently there are a number of large funds holding huge amounts of gold. Every movement of these big players will has a strong influence on world gold prices. In particular, these funds have launched fund certificates to attract many speculative investors into this market.These funds include:- IMF: holds about 3,100 tons of gold- SPDR Gold Trust: This is considered the largest gold investment fund in the world. This fund currently holds about 768 tons (2019).
· Third, the world gold production/mining
The countries known for having the largest gold mining output in the world are China, Australia, Russia, USA, South Africa and Canada. Every time the mining output in these countries declines, it will cause world gold prices to rise and vice versa.
Since the Covid-19 pandemic began to spread from the beginning of 2020, putting the world into a deep crisis, companies filed for bankruptcy are increasing, unemployment rate goes up day by day. In addition, those lockout policies to limit the widespread of Covid-19 epidemic have caused a decline in exports, forcing the world's central banks to launch bailouts for their economy. In the US, for example, the US Federal Reserve has launched a $ 2,000 billion bailout package, leading to a decline in bond yields and an increase in the risk of inflation, which has slipped prices for other assets and currencies.
- However, the pandemic situation is still quite complicated in the present context, the second wave has come back in quite a lot countries and territories, plus the widespread situation is quite unpredictable, for example, Australia and several US states have reported a spike in new cases of virus infection as well as Latin America or India, the second largest consumer of gold bullion in the world.
Prior to the analysis, the fact that the author is a Trend Trader should
be taken into account. This trend trading method is of the longest-term
trading strategies which related to identifying and trading in the
overall direction of market, usually until reversal occurs. Trailing
stops will often be used to protect the account profits. The analysis
firstly based on fundamental analysis, then specified trading positions
based on technical analysis and use statistical probability to calculate
the probability of price increases and risks.To get more news about WikiFX, you can visit wikifx news official website.
We shall start with a number of reviews of the market history and the important milestones of the metal silver to see why we all should care for this.
In 1973, Hunt brothers – sons of the oil billionaire Haroldson Lafayette Hunt Jr began to acquire silver market.
On January 18th, 1980 Silver price reached the highest level ever, nearly $50/oz, which is also the period when the Soviet Union invaded Afghanistan. Silver prices fell about $15 later that year.
In February, 1985 the Hunt brothers were charged “with manipulating and attempting to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980” by the United States Commodity Futures Trading Commission (CFTC) (the US government raised deposit rates and trading restrictions) and fined $ 134 million in compensation for a Peruvian mineral company. The Hunt brothers then declared bankruptcy. And there is also a legendary investor who has also entered this market however people only know him mostly through the stock market – no one rather than Warren Buffett.
Warren Buffett also invested in Silver during 1997 - 1998, he bought 130 million oz. silver, which is equivalent to 4,043 tons. It generated a pre-tax profit of more than $ 97 million for their Berkshire Hathaway Group, Buffett revealed in a letter to shareholders in 1997. Berkshire CEO described the purchase of more than 4,000 tons of silver as “back in the past” because he had also invested in the metal in the 1960s. In 1997, Buffett once again bet on silver when he predicted the shrinking reserves and the process of “issuing more money” that the central banks was proceeding will push this metals price up.
Subsequently in the 2008 the historic event of financial crisis with the Fed's QE bailout packages pushed silver to $49.5/oz, the highest level since 1980. And then silver had a long slide in the price until today.
Silver has had a 3,300-day decline chain until the time the author wrote this analysis. And silver's chances are being strengthened as the primary metal – gold has achieved an 80% recovery from its peak in 2011 ,while silver is still down 65% from its own.
We shall start with a number of reviews of the market history and the important milestones of the metal silver to see why we all should care for this.
In 1973, Hunt brothers – sons of the oil billionaire Haroldson Lafayette Hunt Jr began to acquire silver market.
On January 18th, 1980 Silver price reached the highest level ever, nearly $50/oz, which is also the period when the Soviet Union invaded Afghanistan. Silver prices fell about $15 later that year.
In February, 1985 the Hunt brothers were charged “with manipulating and attempting to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980” by the United States Commodity Futures Trading Commission (CFTC) (the US government raised deposit rates and trading restrictions) and fined $ 134 million in compensation for a Peruvian mineral company. The Hunt brothers then declared bankruptcy. And there is also a legendary investor who has also entered this market however people only know him mostly through the stock market – no one rather than Warren Buffett.
Warren Buffett also invested in Silver during 1997 - 1998, he bought 130 million oz. silver, which is equivalent to 4,043 tons. It generated a pre-tax profit of more than $ 97 million for their Berkshire Hathaway Group, Buffett revealed in a letter to shareholders in 1997. Berkshire CEO described the purchase of more than 4,000 tons of silver as “back in the past” because he had also invested in the metal in the 1960s. In 1997, Buffett once again bet on silver when he predicted the shrinking reserves and the process of “issuing more money” that the central banks was proceeding will push this metals price up.
Subsequently in the 2008 the historic event of financial crisis with the Fed's QE bailout packages pushed silver to $49.5/oz, the highest level since 1980. And then silver had a long slide in the price until today.
Silver has had a 3,300-day decline chain until the time the author wrote this analysis. And silver's chances are being strengthened as the primary metal – gold has achieved an 80% recovery from its peak in 2011 ,while silver is still down 65% from its own.
USD/CAD rallies and extends its yesterdays bullish candle as the USD was
boosted by the USDXs rebound. The pair is challenging a major downtrend
line, so only a valid breakout will suggest buying and will announce a
reversal.To get more news about WikiFX, you can visit wikifx news official website.
The price is strongly bullish right now, but it remains to see what will really happen after the US and the Canadian data will be released. The Canadian Employment Change is expected around 700.0K in June, versus 289.6K in May, while the Unemployment Rate could drop from 13.7% to 12.0% in the last month, worse than expected figures will push the USD/CAD way higher.
On the other hand, the US is to release the PPI is expected to increase by 0.4%, while the Core PPI could increase by 0.1% after the 0.1% drop in the previous reading period. You should be careful during the economic data release because the volatility will be high.
Still, if the Canadian data will disappoint and the US data will come in line with expectations, USD/CAD will be expected to resume its current rebound. The pair could drop again in the short term if the Canadian figures will beat expectations.
● USD/CAD Breakout Attempt!
USD/CAD has registered only a false breakdown below the PP (1.3564) level and now has jumped above the major downtrend line and above the 61.8% Fibonacci level. A valid breakout above these levels will announce a larger increase and a potential reversal.
You can see on the Daily chart that USD/CAD has developed a pin bar on June 10, 2020, false breakdown with great separation below the lower median line (LML) of the major ascending pitchfork and below the 1.3356 level, this formation has signaled that we could have a reversal on this pair as long as the price stays within the ascending pitchforks body.
USD/CAD is trapped between the lower median line (LML) and the inside sliding line (SL), the failure to come back to retest the lower median line (LML) indicates strong buyers and a potential rally towards the sliding parallel line (SL).
The currency pair could move higher within this up channel, between LML and the SL, but I believe that a valid breakout above the downtrend line could bring an upside breakout from this channel as well, above the SL and above the R1 (1.3810).
A reversal, another leg higher, could be invalidated if USD/CAD will make only a false breakout with great separation above the downtrend line, this scenario could send the rate back towards the lower median line (LML) of the major ascending pitchfork.
● USD Bulls In Full Control on H4
USD/CAD has broken above the upper median line (uml) of the minor descending pitchfork as well, so a valid breakout from this pitchfork and above the downtrend line will signal a further upside movement, the first target will be at the sliding line (SL).
A false breakout above the mentioned lines will keep the pair within the minor down channel between the upper median line (uml) and the median line (ml) of the minor descending pitchfork in the short term.
The price is strongly bullish right now, but it remains to see what will really happen after the US and the Canadian data will be released. The Canadian Employment Change is expected around 700.0K in June, versus 289.6K in May, while the Unemployment Rate could drop from 13.7% to 12.0% in the last month, worse than expected figures will push the USD/CAD way higher.
On the other hand, the US is to release the PPI is expected to increase by 0.4%, while the Core PPI could increase by 0.1% after the 0.1% drop in the previous reading period. You should be careful during the economic data release because the volatility will be high.
Still, if the Canadian data will disappoint and the US data will come in line with expectations, USD/CAD will be expected to resume its current rebound. The pair could drop again in the short term if the Canadian figures will beat expectations.
● USD/CAD Breakout Attempt!
USD/CAD has registered only a false breakdown below the PP (1.3564) level and now has jumped above the major downtrend line and above the 61.8% Fibonacci level. A valid breakout above these levels will announce a larger increase and a potential reversal.
You can see on the Daily chart that USD/CAD has developed a pin bar on June 10, 2020, false breakdown with great separation below the lower median line (LML) of the major ascending pitchfork and below the 1.3356 level, this formation has signaled that we could have a reversal on this pair as long as the price stays within the ascending pitchforks body.
USD/CAD is trapped between the lower median line (LML) and the inside sliding line (SL), the failure to come back to retest the lower median line (LML) indicates strong buyers and a potential rally towards the sliding parallel line (SL).
The currency pair could move higher within this up channel, between LML and the SL, but I believe that a valid breakout above the downtrend line could bring an upside breakout from this channel as well, above the SL and above the R1 (1.3810).
A reversal, another leg higher, could be invalidated if USD/CAD will make only a false breakout with great separation above the downtrend line, this scenario could send the rate back towards the lower median line (LML) of the major ascending pitchfork.
● USD Bulls In Full Control on H4
USD/CAD has broken above the upper median line (uml) of the minor descending pitchfork as well, so a valid breakout from this pitchfork and above the downtrend line will signal a further upside movement, the first target will be at the sliding line (SL).
A false breakout above the mentioned lines will keep the pair within the minor down channel between the upper median line (uml) and the median line (ml) of the minor descending pitchfork in the short term.
Imagine with me. You are the boss of an ice cream shop. You decide on
the amount of stock to keep and prepare in advance. You will definitely
stock up and prepare more in summer where the hottest period of the year
is.To get more news about WikiFX, you can visit wikifx news official website.
Trading during the European session is like selling ice cream in summer. There is an enormous amount of trading activity and breakouts are more commonly seen.
#1 European Session Trading Hours
Europe wakes up as Asia winds down at 7am GMT. We will look at the opening and closing time of London as it is the biggest financial centre in Europe.
#2 Reasons
Reason 1: Being the most active Forex market in the world, you will expect high liquidity and low spreads, saving you time and money.
Reason 2: Volatility is higher which presents more trading opportunities such as breakouts. This means that you dont have to wait for long before you pocket a profit.
Reason 3: About 30% of all Forex transactions take place here.
#3 Characteristics
Londons session overlaps with 2 other major trading sessions - the Asian session prior to the open, and New York session towards the end. As such, this session is usually the most volatile.
Volatility will tone down in the middle of the session as traders head off for lunch before waiting for the New York session to begin.
Before the New York session, there is a tendency for reversals to occur, especially if the currency pair has made a substantial move.
#4 Average Pip Movement
The table below shows the average pip movement for the London session.
Please note that this table is not all-inclusive and the range may differ from time to time depending on various conditions such as news and specific economic trading activity.
#5 Which Pairs Should You Trade？
You guessed it! You should focus on the pairs with a larger range and trade those. This would allow you to achieve a decent amount of pips if you are day trading.
Conclusion
With the right understanding and expectations, this session can be extra rewarding.
As trend following and breakout strategies work great in this session, this session favors those who can read price action.
For those who are able to only trade when the USAs markets are open, look out for the next article as we shift our focus to New York.
An independent trader who seeks to educate through his own trading experiences, Jay began his own trading journey at the age of 22.
He is a self-taught trader who has read more than 200 books on trading and investment since college and created his trading methodologies modelling after several successful veteran traders.Jay has since amassed 10 years of experience trading different market conditions with consistency. Of the many disciplines in trading, he specializes in trading options, swing trades on equities, currencies,futures and contract-for-difference (CFDs).
Trading during the European session is like selling ice cream in summer. There is an enormous amount of trading activity and breakouts are more commonly seen.
#1 European Session Trading Hours
Europe wakes up as Asia winds down at 7am GMT. We will look at the opening and closing time of London as it is the biggest financial centre in Europe.
#2 Reasons
Reason 1: Being the most active Forex market in the world, you will expect high liquidity and low spreads, saving you time and money.
Reason 2: Volatility is higher which presents more trading opportunities such as breakouts. This means that you dont have to wait for long before you pocket a profit.
Reason 3: About 30% of all Forex transactions take place here.
#3 Characteristics
Londons session overlaps with 2 other major trading sessions - the Asian session prior to the open, and New York session towards the end. As such, this session is usually the most volatile.
Volatility will tone down in the middle of the session as traders head off for lunch before waiting for the New York session to begin.
Before the New York session, there is a tendency for reversals to occur, especially if the currency pair has made a substantial move.
#4 Average Pip Movement
The table below shows the average pip movement for the London session.
Please note that this table is not all-inclusive and the range may differ from time to time depending on various conditions such as news and specific economic trading activity.
#5 Which Pairs Should You Trade？
You guessed it! You should focus on the pairs with a larger range and trade those. This would allow you to achieve a decent amount of pips if you are day trading.
Conclusion
With the right understanding and expectations, this session can be extra rewarding.
As trend following and breakout strategies work great in this session, this session favors those who can read price action.
For those who are able to only trade when the USAs markets are open, look out for the next article as we shift our focus to New York.
An independent trader who seeks to educate through his own trading experiences, Jay began his own trading journey at the age of 22.
He is a self-taught trader who has read more than 200 books on trading and investment since college and created his trading methodologies modelling after several successful veteran traders.Jay has since amassed 10 years of experience trading different market conditions with consistency. Of the many disciplines in trading, he specializes in trading options, swing trades on equities, currencies,futures and contract-for-difference (CFDs).