Author: FX

So you’ve been trading on a demo account for months now and you think you’re ready to go live. But are you REALLY ready? Here are five signs you should look for: 1. You can make profits CONSISTENTLY. Making consistent profits and winning ALL the time aren’t the same. There ain’t a single renowned forex trader who can say that he hasn’t lost a single trade in his entire trading career. Given the market’s ever-changing market conditions, losing is part of the battle. So if you’ve lost a trade or two this week, don’t beat yourself up. Rather, focus on…

Headlines:Markets:AUD leads, EUR lags on the dayEuropean equities mixed; S&P 500 futures up 0.1%US 10-year yields up 2.3 bps to 3.750%Gold flat at $2,622.69WTI crude up 0.4% to $71.31Bitcoin down 0.1% to $63,489The focus of the session was on PMI releases in Europe and it did trigger a modest reaction in markets.Coming into today, traders were pricing in ~61% odds of an ECB rate cut for October but stepped that up to ~80% now. That of course coming after poor PMI prints in both France and Germany, which also highlighted a softening of price pressures.EUR/USD fell from 1.1145 to a…

Strong momentum suggests further US Dollar (USD) strength; the major resistance at 145.50 is likely out of reach. In the longer run, sharp advance reinforces view that USD could recover further to 145.50, UOB Group FX strategists Quek Ser Leang and Peter Chia note. USD can recover further to 145.50 24-HOUR VIEW: “Our view for USD to trade in a 141.50/143.80 range last Friday was incorrect. USD dipped to a low of 141.72 and then lifted off, surging to a high of 144.49. While the rally is reaching overbought levels, strong momentum suggests further USD strength. However, any further advance…

mtcurado/iStock Unreleased via Getty Images Vietnam said that Samsung Display intends to invest $1.8B in a facility to make OLED displays for automobiles and technology equipment in the country this year, Reuters reported. The new OLED display manufacturing plant by Samsung Display, a unit of Samsung Electronics ( Source link

Morgan Stanley has revised its stance to neutral on Defensives versus Cyclicals, the bank said Monday. Strategists said this tactical move comes after the significant outperformance of Defensives, which has pushed their valuations to extended levels, and highlighted the importance of waiting for more clarity on upcoming labor market data before taking any decisive actions in the market. Defensives tend to perform well over a three-to-twelve-month period following the Federal Reserve’s first rate cut. However, they often see initial underperformance within the first month after the cut. This dynamic is particularly relevant now, Morgan Stanley notes, given the Fed’s larger-than-expected…

This dollar pair has been trading sideways recently but also appears to be forming a short-term reversal pattern. So, will USD/CHF stay stuck in consolidation or can it go for an uptrend soon? Better keep this neckline resistance level on your radar! USD/CHF 4-hour Forex Chart by TradingView What’s next for the U.S. dollar now that the Fed surprised the markets with a 0.50% rate cut and signaled more easing to come? USD/CHF tossed and turned during the actual announcement and presser but eventually resumed its climb closer to its range resistance visible on the 4-hour time frame. Can the…

There is just one to take note of on the day, as highlighted in bold.That being for EUR/USD at the 1.1150 level. It isn’t one that holds much technical significance, but it could put a bit of a floor to price action during the session ahead at least. That with the 100-hour moving average lingering nearby at 1.1140 currently, with the key near-term level holding declines in US trading during the past two sessions.The key risk to the euro though will be the PMI data later. However, it should not have that big an impact as the ECB is comfortable…

The Japanese Yen depreciates, likely due to thin trading conditions stemming from the holiday on Monday. BoJ Governor Ueda stated that the central bank will continue to adjust the level of monetary easing as needed. The US Dollar receives support as Treasury yields improve. The Japanese Yen (JPY) extends its losses for the third consecutive session in holiday-thinned trading on Monday. This downward movement may be influenced by growing concerns that the Bank of Japan (BoJ) is not in a rush to raise interest rates. The Bank of Japan maintained its interest rate target in the range of 0.15-0.25% at…

RBA members are feeling pressured as they continue to keep interest rates high despite cooling price pressures and slowing economic growth. What are the markets expecting from the event and how may AUD react to this week’s decision? We’re discussing the points you need to know if you’re trading the event! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link

By Scott Murdoch and Himanshi Akhand (Reuters) -Australian property listing firm REA Group has made a third pitch to buy British rival Rightmove (OTC:) with a new 6.1 billion pound ($8.12 billion) offer on Monday after its two previous offers were rejected. The latest offer consists of 341 pence in cash and 0.0422 new REA shares giving Rightmove an implied value of 770 pence per share. Shares of REA, which is 62% owned by Rupert Murdoch’s News Corp (NASDAQ:), dropped 1.52% on Monday. Rightmove did not immediately respond to a request for comment on the new non-binding bid outside normal…