Monday, August 13, 2018

The Forex Calendar For This Week


Here are the events that traders should be aware of before opening new trades this week:

There are no events on Monday.

On Tuesday we can expect the announcement of the UK Average Earnings Index and the Australian Wage Price Index.

Wednesday is quite eventful: the UK CPI will be announced, then US Core Retail Sales, Retail Sales and Crude Oil Inventories. Also, we can expect the Australia Employment Change and Unemployment Rate.

On Thursday will be announced the UK Retail Sales, the US Building Permits and the Reserve Bank of Australia Governor Lower will make a speech.

Finally, on Friday, we can expect the Canadian CPI.

Saturday, August 11, 2018

The TRY Crashed Over The Course Of Several Hours



We have seen crashes like this more than once, when a country defies the world economic and political status quo.

The USD/RUB situation was similar when Russia annexed Crimea.

Yesterday the TRY lost 19% of its value over the course of mere hours when the relationship between the USA and Turkey took a nosedive due to the situation around the detainment of the American pastor Andrew Brunson. President Trump used his presidential authority to double the tariffs on steel and aluminum coming from Turkey.

And while the TRY was crashing and President Erdogan was reassuring his people and was encouraging them to exchange their savings into Turkish Lires, his son-in-law and finance minister Berat Albayrak made a statement that his country would follow a new economical approach based on a “strategic way of thinking”.

It is interesting to see whether the Turkish people, after electing a President who aims to roll back many of Kemal Atatürk’s reforms, would follow blindly the call to exchange what little is left of their financial security into the devaluated Turkish Lire.


Friday, August 10, 2018

The USD/JPY Depreciation Continues Toward The Support Zone At 110.20 – 110.00

The pair continues moving slowly and correctively within an unbroken trend channel toward its first target to the downside, which is the support zone at 110.20 – 110.00.


I think that despite the slow and very hesitant move south the depreciation may reach 109.60 – 109.40. That is the zone within which the USD could find strong support and from there it could renew its upward trend.


The alternative scenario in case there is a breakout below that support is for the pair to continue depreciation. For the moment that scenario appears less probable, not to mention that the USD remains exceptionally strong against all other currencies – so much so that its weakness against the JPY causes confusion.

For the moment we can expect the depreciation of the USD to the first support at 110.20 – 110.00.


Thursday, August 09, 2018

The Existing Downward Trend Would Lead To A Break Out Below 1.1510


The pair tested firmly the break out below the trend line (in light blue) and in the moment it is trading in a consolidation between the trend line, which has become a support and the dynamic  support above 1.1570.


If we examine the D1 time frame we could say with certainty that the trend is firmly bearish. Now we have to see whether there will be a breakout below the support at 1.1570 until the end of today’s American session or the pair will close the D1 bar once again below the diagonal support as well as the kind of bar it will form when it closes.

In my opinion, in case the pair does not manage to break out below 1.1570 the bar may be a doji or a spinning top, after which the pair will test 1.1510 and if it breaks out below that level it will head for 1.1300.

The alternative scenario is for a rally to 1.1700 and 1.1750.


Tuesday, August 07, 2018

ActivTrades Webinars: Common Patterns


One of the most efficient ways to learn how to trade is to be taught by experienced professionals.

The leading online broker ActivTrades regularly organizes free webinars about various aspects of trading – be it trading psychology, various strategies, news events, money and risk management,  indicators, etc. - taught by leading experts in their fields with years of experience behind them.

Attending these webinars is completely free of charge, and in the off chance that you miss one of them you can always go back and watch it again through the Webinars Archive.

The latest webinar ActivTrades is holding will be about Common Patterns and it will be taught by Martin Walker – a full time Trader, Trading Educator and Mentor.

The webinar will be held on 14th August 2018.

You can attend the Common Patterns free webinar by simply registering for it here.>>>


Monday, August 06, 2018

The Forex Calendar For This Week


This week there are several news events traders should be aware of before they open any positions:

Monday is free of them.

On Tuesday, however, we can expect the Reserve Bank of Australia Rate Statement and a speech by the RBA Governor Lowe. The Reserve Bank of New Zealand’s Inflation Expectations will also be announced.

On Wednesday will be announced the US Crude Oil Inventories and the Reserve Bank of New Zealand will announce its Official Cash Rate, Monetary Policy Statement, Rate Statement and then there will be a press conference.

On Thursday will be announced the US PPI and the Reserve Bank of Australia Monetary Policy Statement.

And finally, on Friday we can expect the British GDP, Manufacturing Production, Preliminary GDP, the Canadian Employment Change, Unemployment Rate and the US CPI and Core CPI.