Top-down analysis in Forex trading. Part 2

[Newswire]

Top-down analysis in Forex trading. Part 2

In the second forex webinar video dedicated to Top-down analysis, we will talk about different timeframes and different perspectives. In the “heat of the game”, traders are often unaware of what is happening on higher timeframes. They feel very surprised, when market starts to move “without any reason”. But the reason can lie in the landscape of higher timeframe.

Probably, the only trader, that can be careless about this landscape, is pure scalper. Other traders have to keep an eye on important reference points, The truth is that there are very few successful scalpers. So, preparation and homework are essential for every serious trader, who is going to take profit consistently.

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[Hoafa]

Thanks

[Tusman]

That's great

[Ecativos]

thanks

[trevy]

I agree that we can trade forex with large profit.

[simon]

What is foreign exchange trading?

Foreign exchange trading is buying another currency while selling another currency.

What is foreign exchange trading?

The foreign exchange market is one of the most widely traded markets in the world, with an average daily transaction volume of more than 5 trillion dollars. It is one of the largest and most liquid financial markets in the world, and different currencies are continuously exchanged when individuals, companies and organizations carry out global business. There is no centralized location or exchange in the foreign exchange market, so from Sunday evening to Friday evening, you can trade 24 hours a day.

Forex trading allows you to take full advantage of the exchange rate fluctuations of a large number of foreign currency pairs. Forex is usually traded in pairs-for example GBP / USD. You speculate that the currency price of a country will rise or fall relative to the currency price of another country, thus opening positions accordingly.


Base currency and relative currency

Taking the pound / dollar currency pair as an example, the first currency, pound sterling, is called "base currency"; the second currency, dollar, is called "relative currency".

How to operate foreign exchange transactions?

When trading foreign exchange, you usually guess whether the price of the base currency pair will rise or fall relative to the currency. So, in the currency pair GBP / USD, if you think the GBP will rise against the USD, then go long (buy) the currency pair. Conversely, if you think the pound will fall against the dollar (or the dollar will rise against the pound), then short (sell) the currency pair.

If you are right (that is, if you go long for GBP / USD, the value of GBP to USD rises), you will be profitable. But if the transaction is against you, you will lose money.

You can use leverage for foreign exchange transactions, it will increase your potential gains, but it will also expand your potential losses.

[rambo]

It's great. Thanks.

[symbol of forex profit]

This is interesting

[fdu]

Dollar appreciation against major currencies The reason the Stock Exchange of Thailand has bought the employment numbers to rise.

The US dollar appreciated against the major currencies traded at the New York Stock Exchange last night (5 June), with investors buying dollars. After the disclosure of US non-farm payroll data jumped higher than expected in May.

The dollar index, which is a measure of the movement of the dollar against 6 major currencies in the basket of currencies, plus 0.27% to 96.9360.

The dollar strengthened against the yen at 109.60 yen from 109.12 yen and the dollar appreciated against the Swiss franc at 0.9621 francs from the level of 0.9550 franc while the US dollar depreciated against Canadian Dollars at the level of 1.3432 Canadian Dollars from the 1.3505 Canadian Dollars level.

The euro depreciated against the US dollar at $ 1.1294 from $ 1.1347, the pound strengthened to $ 1.2670 from $ 1.2612 and the Australian dollar strengthened to $ 0.6967 from US $ 0.6937.

Investors buy dollars After the US Department of Labor reported that Non-farm payrolls rose 2.5 million in May. In contrast, analysts had expected jobs to fall to 8.33 million positions, while the unemployment rate dropped to 13.3% in May, in contrast with analysts expected to rise to 19.5. %

The surge in non-farm payrolls numbers in May Considered the single highest employment increase in a single month in US history, 81 years or since 1939.

Better-than-expected employment numbers for May were boosted by the US government's easing of lock-down measures. Which made the business sector reopen And make a new employment After a large number of layoffs during the lockdown measures were enforced to control the outbreak of the Covid-19 disease.

[xenoforex]

Forex Today: Coronavirus concerns motivate dollar domination, commodity currencies climb all along

Markets kick off the week concerning the protection foot as coronavirus cases rise in the US Sun Belt, Beijing, and Tokyo. The dollar and the yen are happening, though others, especially commodity currencies, are down. A high-level call re Brexit, several data points, and subsidiary COVID-19 figures are of captivation.

Coronavirus spreading: Cases and hospitalizations continue increasing in California, Texas, Arizona, and very roughly 20 accessory US states, causing fears of a slower economic recovery.

Senior White House Adviser Larry Kudlow continues seeing a V-shaped recovery, be fuming virtually the economy. On the late growth hand, he rejected calls to extend the special unemployment payments, which expire at the halt of July. That may slow the bounce.

US racial tensions remain high after a policeman fatally shot a black man in Atlanta. Protests continue in the US, and the topic is high on the agenda ahead of the elections.

The Empire State Manufacturing Index and a speech by Robert Kaplan, President of the Dallas branch of the Federal Reserve are on the agenda.

China: A COVID-19 outbreak has been reported in Beijing, and the Chinese capital closed along with to several sections and markets. Industrial output rose by 4.4% and retail sales fell by 2.8%, both showing the world's second-largest economy is recovering but missing expectations.

Japan: Cases in Tokyo have jumped by 47, the most by now yet to be May. The Japanese yen continues benefiting from its fix-quay status.

Europe continues reopening: France and Spain are both relaxing proceedings and attempting a compensation to customary. EUR/USD is weathering Monday's dollar strength and holding approaching 1.1250. The trade tote happening is due out higher.

The UK is launch non-essential shops upon Monday as it gradually loosens restrictions. GBP/USD suffered a significant downfall upon Friday and has been extending its losses under 1.25.

Brexit: UK Prime Minister Boris Johnson and several leading European officials will money a video call to discuss deadlocked Brexit talks. Britain told Brussels it will not ask to extend the transition era that expires year-fade away, still several lawmakers in London are urging the government to reconsider.

Gold has been edging lower but holding above $1,720. The precious metal benefited from the Federal Reserve's pessimism and ongoing maintain.

Oil prices continue their fade away, gone than WTI dropping knocked out the $35. The risk-off environment is the primary driver.

Cryptocurrencies have been declining, gone Bitcoin holding nearly $9,100.

[Jikeroox]

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[darta]

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[Get A Loan]

Interesting 

[Stephenzed]

I make it to the top of forex 

[SoloSoj]

This forum is full of resource about forex trading. Such a good community.