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AUDCHF: The Zone to Watch 🇦🇺🇨🇭 AUDCHF is approaching a daily supply area. 0.68 - 0.6815 is a potential reversal zone from where a bearish move may start. Your confirmation will be a bearish breakout of a rising wedge pattern on 1H time frame. While the price remains within its boundaries, though, the market remains bullish. In case of a bullish breakout of a yellow zone, the setup will be invalid. ❤️Please, support this idea with a like and comment!❤️
Short
by VasilyTrader
17
EURNZD: Important Decision Ahead! Your Plan: 🇪🇺🇳🇿 EURNZD is trading within a key daily structure resistance cluster. On that, the price is currently consolidating within a horizontal trading range. 1.715 - 1.716 is its resistance. 1.7045 - 1.7065 is its support. For now, I see two equally possible scenarios: Bearish In case of a bearish violation of the support of the range, bearish continuation will be expected. Next support will be 1.69 Bullish In case of a bullish breakout of the resistance of the range, a trend following movement will be expected. Next resistance will be 1.73 Wait for the breakout & follow the market. ❤️Please, support this idea with a like and comment!❤️
Short
by VasilyTrader
24
TRADING BASICS | What is a Pip? 📚 📏Pip is a measurement of the price change in a currency pair trading on the forex market. In most cases, pip is the equivalent to 1/100th of 1%. That rule is applicable to all the currency pairs quoted to the 4th decimal place like EURUSD. ➡️Current EURUSD price is 1.1696 6 is the 4th decimal place representing a pip. If the pair moves from 1.1696 to 1.1697, that 0.0001 USD rise in value is ONE PIP. ❌That rule is not applicable, for example, to USDJPY which is only quoted to 2 decimal places. ➡️Current USDJPY price is 109.62 2 is the 2nd decimal place representing a pip. If the pair moves from 109.62 to 109.63, that 0.01 JPY rise in value is ONE PIP. 🦉The word pip stands for "price interest point" or "percentage in point". Even though a pip might appear as an extremely small unit of measurement, in leverage trading even the one pip price change of the instrument may lead to a sufficient gain or loss. ➗How to calculate the value of a pip? Each and every currency has its own relative value. In the following example, I will show you how to calculate the value of a pip for a particular currency pair. USD/CAD = 1.2753 Reading that as 1 USD to 1.2753 CAD or 1 USD / 1.2753 CAD 1 Pip = * 1 USD = 0.00007841 per unit traded. Following this example, if we trade 10.000 units of USD/CAD, then a one pip change to the exchange rate would be approximately 0.78 USD change in the position value. Alternatively, pip value can be calculated with various calculators & apps. I hope that with these examples and my explanation you will understand the concept of a pip easily. Let me know what do you want to learn in the next posts! ❤️Please, support this idea with a like!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
15
GBP/USD Weekly Analysis (3rd week of July,2021)Comments from Bank of England officials during the week, pointing to the need to reduce asset purchases earlier than expected, failed to lift the pound significantly. “The impact on GBP was limited, partly because the next step in the eventual policy normalisation process (rate hikes) remains still some way off. Despite the increasing Covid-19 cases, the UK government will deliver the final part of the reopening/end of restrictions on 19 July”, explain ING analysts. Next week UK data includes June retails sales and July PMI, both reports due on Friday.
Short
by SOURENAALIZADEH
Is the Forex Euro Selloff Over?Hey Traders so in my last post I had mentioned that the Euro could be topping well amazing as it is the charts were right! Of course the FED also helped by saying they are going to raise interest rates in the future. Does this mean the charts are the Holy Grail of trading? Ha ha ha I don't think there is a Holy Grail in trading but lets go back in time today to see why this trade worked out the way it did. I will definitely be shorting the Euro now on every pullback as I truly believe the tides have turned for the market. I think could be just the beginning of a new bear market. Where does everyone think the Euro is headed? Enjoy! Trade Well, Clifford
Short
by TradeTheIndex