Author: FX
Oil climbs as US-Iran tensions keep supply risks in focus Source link
The engulfing candle indicator scans price action for specific two-candle formations where the current candle’s body completely “engulfs” or covers the previous candle’s body. There are two types: bullish engulfing (suggesting upside reversal) and bearish engulfing (indicating potential downside). Here’s what makes it different from just eyeballing patterns yourself the indicator applies consistent criteria every time. It checks that the second candle’s real body (open to close, ignoring wicks) fully encompasses the first candle’s body. No more subjective judgment calls about whether a pattern “counts” or not. The MT5 version typically marks these patterns with arrows or alerts, saving traders…
Risk sentiment turned cautiously optimistic on Wednesday as Nvidia’s robust earnings outlook reignited confidence in AI infrastructure spending, while geopolitical tensions and central bank policy dynamics kept currency markets volatile. Check out the forex news and economic updates you may have missed in the latest trading session! Forex News Headlines & Data: U.S. API Crude Oil Stock Change for February 20, 2026: 11.4M (-0.61M previous) Australia CPI Growth Rate for January 2026: 0.4% m/m (0.2% m/m forecast; 1.0% m/m previous); 3.8% y/y (3.7% y/y forecast; 3.8% y/y previous) Trump’s State of the Union cast the U.S. as “back” and “strong,” touting…
US Secretary of State Rubio said Iran is pursuing intercontinental ballistic missiles and called Tehran’s refusal to discuss them a “big, big problem.” Talks Thursday will focus on the nuclear programme, though he stressed diplomacy remains on the table.Summary:Rubio calls Iran a “very grave” US threatSays Iran not enriching currentlyWarns Tehran seeking enrichment capabilityTalks Thursday to focus on nuclear programmeSays Iran pursuing intercontinental ballistic missilesMissile issue a “big, big problem”Flags conventional weapons riskDiplomacy “never off the table”US Secretary of State Marco Rubio described Iran as a “very grave threat” to the United States, adopting a firm tone ahead of renewed…
The GBP/JPY rallies for the second straight day, up by over 0.80% as Yen weakness extends, as the Japanese Prime Minister Takaichi nominates two slightly “dovish” academics to the Bank of Japan’s board. The cross trades at 211.94, slightly below the day’s high of 212.12.GBP/JPY Price Forecast: Technical outlookThe technical picture shows that the uptrend has resumed, after bottoming near the confluence of the 100-day SMA and a support trendline at around 207.62. Bullish momentum in the GBP/JPY rose as the Relative Strength Index (RSI) crossed aggressively above the 50-neutral level, an indication of buyer’s strength.GBP/JPY first resistance is 212.00.…
The USDCHF continues to trade in choppy, two-way price action, reflecting broader indecision across the FX space. Today’s session has once again turned into a tug-of-war centered around one key technical barometer — the rising 200-hour moving average.That level is not just another line on the chart. It has become the dividing line between buyers maintaining short-term structure and sellers regaining control.Asian session: Buyers defend key support againThe first move of the day was to the downside. Price rotated lower and stalled near the rising 200-hour moving average, currently near 0.7724.This is now the fourth test of that MA:February 18Monday’s…
NZD/USD trades around 0.5980 on Wednesday at the time of writing, up 0.27% on the day and extending its rebound for a second consecutive day. The pair benefits from a weaker US Dollar (USD) after US President Donald Trump delivered his State of the Union address before Congress. In his speech, Donald Trump said he had engineered a “turnaround for the ages” in the US economy, highlighting easing inflation and solid growth. He also stressed that, in his view, tariffs were a key driver behind this improvement. The president added that he could impose higher duties on countries that “play…
I expect China tariff level to remain in placeWe don’t intend to escalate tariffs on ChinaTrade law on discrimination against US could be helpful in some situationsNew trade investigations will look at excess industrial capacity, forced labour in supply chainsTariffs will go up to 15% for some countriesThere will be hearings and consultations with trading partnersHave been in touch with trade partners to explain how replacement tariffs go along with trade dealsU.S. Trade Representative Jamieson Greer clarified the administration’s trade strategy, signalling a “steady as she goes” approach for China while pivoting to new legal mechanisms to manage broader global…
The Indian Rupee (INR) trades flat against the US Dollar (USD) on Wednesday. The USD/INR pair wobbles around 91.00 as the Indian Rupee trades with caution ahead of nuclear talks between the United States (US) and Iran on Thursday and the release of the domestic Q4 Gross Domestic Product (GDP) data on Friday.Investors will pay close attention to the outcome of the US-Iran nuclear talks, as it would have a significant impact on the oil price. Currencies from countries that rely heavily on imports of oil to fulfill their energy needs remain highly sensitive to the oil price.The oil price…
This indicator plots three horizontal lines on your MT5 chart: yesterday’s high, yesterday’s low, and yesterday’s close. That’s it. No complex calculations, no lagging formulas just pure price reference points that reset at the start of each new trading day. The simplicity is the strength here. These levels represent where price found its boundaries during the previous 24-hour session. When a new trading day begins, those boundaries don’t just disappear from traders’ memories. Institutional traders, algorithmic systems, and seasoned retail traders all watch these levels because they’ve proven to influence price behavior consistently. The Technical Logic Behind the Levels Here’s…