NZD/USD erases earlier gains as sellers regain near-term control

Kiwi buyers fail to build on risk rebound after better labour market data

NZD/USD H1 06-08

The pair fails to find further upside momentum after the positive headlines earlier in the day as the dollar also holds firmer following a turnaround in risk trades.
Price broke above the 100-hour MA (red line) earlier on the better-than-expected labour market report but failed to hold a break above the near-term resistance around 0.6578. Now, sellers are back in near-term control as price falls below the 100-hour MA.
Much like AUD/USD, the pair has been on a horrid run of form since the second-half of July. Of note, the pair has declined in 11 out of the last 12 trading days. A drop today would make that 12 out of 13 daily declines.
The key risk event for the kiwi is the RBNZ meeting tomorrow, with markets pricing in a ~98% odds of a 25 bps rate cut. Markets are also eyeing one more potential rate cut by the central bank before the year-end so the language tomorrow will be one to watch.
In the bigger picture, NZD/USD is holding just above the 0.6500 handle for now with the year’s low of 0.6482 sitting nearby. If sellers are to find more momentum to the downside, those levels need to be breached first.
The key level to watch out for in any decent upside retracement will be the 0.6600 handle as well as the 200-hour MA (blue line) @ 0.6595. Should buyers manage to seize near-term control again, we could see an extension higher in the short-term at least.

rfxsignals August 5, 2019 No Comments

DAILY FREE FOREX SIGNALS FOR 05-08-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

EURNZD SELL-1.71155
SL-1.71808
TP1-1.70900
TP2-1.70679

AUDNZD SELL-1.03684
SL-1.04020
TP1-1.03472
TP2-1.03275

CADJPY BUY -80.340
SL-79.878
TP1-80.532
TP2-80.743

GBPUSD BUY -1.21719
SL-1.21217
TP1-1.21988
TP2-1.22284

USDCAD SELL-1.32111
SL-1.32485
TP1-1.31892
TP2-1.31674

GBPNZD SELL-1.86128
SL-1.86879
TP1-1.85803
TP2-1.85469

NZDUSD BUY -0.65317
SL-0.65045
TP1-0.65415
TP2-0.65516

US 10-year yields on track for largest weekly loss since 2012

The flight to safety was real this week

If you had told me that fact at the start of the week, I would have bet it was the Fed cutting rates 50 basis points. Instead the Fed came out with a hawkish cut and then Trump sparked a flight to quality with tariffs. Sometimes a whipsaw like makes for a bigger move than a negative headline.

The flight to safety was real this week

Last time yields fell this much it was near a bottom but this time it comes as support breaks.

Forex Technical Analysis – 31.07.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD)

EURUSD, “Euro vs US Dollar”

EURUSD is moving upwards; it has broken the consolidation range to the upside and may continue the correction with the short-term target at 1.1173 (an alternative scenario). In fact, the price may start plummeting towards 1.1075 at any moment.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.2150. If the price breaks this range to the upside at 1.2180, the instrument may start a new correction towards 1.2240; if to the downside at 1.2121– continue trading inside the downtrend with the target at 1.2000.

GBPUSD

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Possibly, today the pair may break 0.9918 and then continue growing with the short-term target at 0.9942. Later, the market may start another correction towards 0.9820 and then form one more ascending structure with the first target at 1.0000.

USDCHF

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving downwards. Today, the pair may fall to reach 108.37 and then start another growth towards 108.66. After that, the instrument may form a new descending structure to break 108.30 and then continue trading inside the downtrend with the short-term target at 108.00.

USDJPY

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the key downside target at 0.6870; right now, it is moving upwards. Possibly, the pair may start a new correction with the target at 0.6977.

AUDUSD

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the correction; right now, it is moving upwards to reach 63.88. Later, the market may start a new decline towards 63.21.

USDRUB

XAUUSD, “Gold vs US Dollar”

After completing the continuation pattern at 1426.26, Gold is moving upwards inside the third correctional wave with the target at 1436.57. After that, the instrument may fall to reach 1426.26 and then form one more ascending structure towards 1440.14.

GOLD
rfxsignals July 31, 2019 No Comments

DAILY FREE FOREX SIGNALS FOR 31-07-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

GBPCHF BUY-1.20530
SL-1.20186
TP1-1.20678
TP2-1.20858

GBPUSD BUY -1.21682
SL-1.21094
TP1-1.21946
TP2-1.22175

EURGBP SELL-0.91586
SL-0.92141
TP1-0.91288
TP2-0.90981

GBPJPY BUY -132.099
SL-131.755
TP1-132.274
TP2-132.493

AUDUSD BUY -0.68923
SL-0.68476
TP1-0.69160
TP2-0.69371

USDJPY SELL-108.502
SL-108.876
TP1-108.327
TP2-108.144

EURJPY SELL-120.973
SL-121.460
TP1-120.815
TP2-120.638

AUDCAD BUY-0.90631
SL-0.90223
TP1-0.90873
TP2-0.91086

GBPAUD BUY -1.76287
SL-1.76942
TP1-1.76035
TP2-1.75771

EURAUD SELL-1.61639
SL-1.62146
TP1-1.61376
TP2-1.61077

EURNZD SELL-1.68633
SL-1.69660
TP1-1.68389
TP2-1.68121

CADJPY SELL-82.559
SL-83.011
TP1-82.338
TP2-82.159

GBPNZD SELL-1.83908
SL-1.84428
TP1-1.83620
TP2-1.83329

Forex Technical Analysis- 30.07.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD)

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.1130; after reaching the range’s upside border, it is trading to reach 1.1111. If later the price breaks this range to the downside, the instrument may continue trading inside the downtrend to reach 1.1075; if to the upside – choose an alternative scenario and start a new correction with the target at 1.1182.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is forming the third wave inside the downtrend; it has almost completed the wave, but taking into account that the price has broken 1.2240 without any corrections, it may continue trading inside the downtrend towards 1.2131. If the price forms consolidation ranges and breaks them to the downside, the instrument may boost its decline. Possibly, the pair may extend this descending wave down to 1.2055.

GBPUSD

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9920. Possibly, the pair may form a new descending structure to reach 0.9898. If the price breaks this range to the upside, the instrument may resume trading inside the uptrend towards 0.9950 or even the key target of the wave at 1.0000; if to the downside – choose an alternative scenario to start another correction towards 0.9850 and then form one more ascending structure with the target at 1.0000.

USDCHF

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating at the top. Today, the pair may fall to reach 108.30 and then start another growth towards 108.62. If later the price breaks this range to the downside, the instrument may form a new descending structure with the short-term target at 107.40.

USDJPY

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the short-term downside target at 0.6895; right now, it is consolidating near the lows. If the price breaks this range to the upside, the instrument may start a new correction towards 0.6075; if to the downside – continue trading downwards to reach 0.6872 and then start the above-mentioned correction with the target at 0.6975.

AUDUSD

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached the short-term correctional target at 63.60. Possibly, today the pair may form a new descending structure towards 63.21 and then start a new growth 63.88.

USDRUB

XAUUSD, “Gold vs US Dollar”

After completing the descending impulse at 1422.22, Gold is moving upwards to reach 1425.60. If the price breaks this range to the upside, the instrument may form one more ascending structure with the short-term target at 1436.55.

GOLD

rfxsignals July 30, 2019 No Comments

DAILY FREE FOREX SIGNALS FOR 30-07-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

EURJPY SELL-120.884
SL-121.384
TP1-120.680
TP2-120.487

GBPUSD BUY -1.21642
SL-1.20714
TP1-1.21952
TP2-1.22267

GBPCHF BUY-1.20667
SL-1.20001
TP1-1.20913
TP2-1.21177

GBPNZD BUY-1.83769
SL-1.82829
TP1-1.84209
TP2-1.84666

GBPAUD BUY -1.76656
SL-1.75609
TP1-1.77039
TP2-1.77394

GBPJPY BUY-132.417
SL-131.652
TP1-132.735
TP2-133.068

EURUSD BUY-1.11422
SL-1.11035
TP1-1.1.11644
TP2-1.11855

USDCHF SELL-0.99075
SL-0.99378
TP1-0.98961
TP2-0.98862

CADJPY SELL-82.444
SL-82.798
TP1-82.307
TP2-82.170

rfxsignals July 29, 2019 No Comments

DAILY FREE FOREX SIGNALS FOR 29-07-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

EURJPY SELL-120.722
SL-121.248
TP1-120.520
TP2-120.278

EURUSD SELL-1.11164
SL-1.11645
TP1-1.10962
TP2-1.10788

USDCAD BUY -1.31722
SL-1.31288
TP1-1.31928
TP2-1.32093

EURCAD SELL-1.46342
SL-1.46808
TP1-1.46121
TP2-1.45933

CADJPY SELL-82.464
SL-82.801
TP1-82.255
TP2-82.046

USDCHF SELL-0.99216
SL-0.99633
TP1-0.99012
TP2-0.98792

GBPUSD SELL-1.22834
SL-1.23464
TP1-1.22610
TP2-1.22412

AUDUSD BUY-0.69053
SL-0.68608
TP1-0.69238
TP2-0.69483

GBPJPY SELL-133.371
SL-134.089
TP1-133.044
TP2-132.700

GBPNZD SELL-1.85312
SL-1.85881
TP1-1.83979
TP2-1.84603

What is Professional Forex Trading?

What is Professional Forex Trading? – Making the Money

• What is a professional Forex trader?

A professional Forex trader is someone who uses price movement in the Foreign exchange currency market to make profit. The aim of any Forex trader is to win as many trades as possible and also to maximize those winning trades. A professional Forex chart technician uses price charts to analyze and trade the market. By trading with an EDGE in the market, professional traders can put the odds in their favor to successfully trade price movement from point A to point B.

Caution: Forex trading is not a ‘get-rich-quick’ scheme and it is more difficult to make money in Forex than what most popular Forex system-selling websites would have you believe. To trade profitably we must not only have winning trades, but we must also cut our losing trades short so that our winners out-pace our losers. You see, losing is an enviable part of trading the Forex markets, and you must learn to lose properly by taking small losses relative to your winners. This means you must A L W A Y S trade with a stop loss on E V E R Y trade you take and make sure the dollar amount you have at risk is an amount you are 100% comfortable with losing.

Professional Forex price-chart traders have a winning edge which is developed via Technical Analysis (more on this in Part 4). There are also Fundamental Analysis traders and traders who use a combination of both analysis techniques; we will discuss all of these later.

A professional Forex trader understands that reading a price chart is both art and skill, and as such, they do not try to mechanize or automate the process of trading as each moment in the market is unique, so it takes a flexible and dynamic trading strategy to trade the markets with a high-probability edge.

• How do pro traders trade the Forex markets?

There are many different trading strategies and systems that pro traders use to trade the markets with, but generally speaking, professional traders do not use overly-complicated trading methods and rely mainly on the raw price data of the market to make their analysis and predictions. To be comprehensive, I wanted to give you guys a brief overview of all the primary different styles and ways people trade the Forex market:

Automated / Robot Trading: Software-based trading systems, also known as forex trading robots, are created by converting a set of trading rules into code that a computer can make use of. The computer will then run this code via trading software that scans the markets for trades that meet the requirements of the trading rules contained in the code. The trades are then executed automatically via the trader’s broker.

Discretionary Trading: Discretionary Forex trading depends on a trader’s ‘gut’ trading feel or discretionary trading skill to analyze and trade the markets. Discretionary trading allows for a more flexible approach than automated trading but it does take a certain amount of time to develop your discretionary trading skill. Most professional Forex traders are discretionary traders because they understand the market is a dynamic and constantly flowing entity that is best traded by the human mind.

Technical Trading: Technical trading, or technical analysis, involved analysis of a market’s price chart for making one’s trading decisions. Technical analysis traders use price patterns or ‘technical signals’ to trade the market with an edge. The common belief amongst technical analysis traders is that all economic variables are represented by and factored into the price movement on a price chart.

Fundamental Trading: Fundamental trading, or news trading, is a trading technique wherein traders rely heavily on market news to make their trading analysis and predictions. Fundamental news does ‘drive’ price movement, but often times the market will react differently than what a particular news release would imply due to the fact that market participants often buy on expectations of future events and sell once the reality of said future event occurs. This is another main reason many pro traders rely more heavily on technical analysis than fundamental analysis, although many do use a combination of the two.

Day Trading: Traders who day-trade the Forex market are in and out of the market within one day. This means they typically buy and sell currencies over a very short period of time and they may enter and exit numerous trades in one day.

Scalping: Scalping is similar to day-trading but it relies on more frequent and shorter-term trades than even day-trading does. It is a trading style that refers to jumping in and out of the market many times a day to ‘scalp’ a few pips here and a few pips there, generally with little regard for placing logical stop-losses. Scalping is generally not recommended by experienced / pro traders because it is essentially just gambling.

Swing Trading / Position Trading: This style of trading involves taking a short to mid-term view on the market and traders who swing trade will be in a trade anywhere from a few hours to several days or weeks. Swing or position traders are generally looking to trade with the near-term daily chart momentum and typically enter anywhere from 2 to 10 trades per month, on average.

Range Trading: Range trading involves trading a market that is consolidating between obvious support and resistance levels. By watching for trading signals near the support and resistance boundaries of the trading range, traders have a high-probability entry scenario with obvious risk and reward placement.

Trend Trading: Trend traders are traders who wait for the market to trend and then take advantage of this high-probability movement by looking for entries within the trend. An uptrend is considered to be in place when a market is making higher highs and higher lows, and a downtrend is in place when a market is making lower highs and lower lows. By looking for entries within a trending market, traders have the best chance at making a large profit on their risk. Traders who continually try to trade against the trend by trying to pick the top and bottom of the market, generally lose money quite quickly. Professional Fx tradersare largely trend-traders.

Counter-trend Trading: Trends do indeed end, and if you are a savvy and skilled trader you can successful trade a counter-trend move, but this should not be tried until trend-trading has been mastered as counter-trend trading is inherently more risky than trend-trading and there can be many false tops or bottoms in a trend before the real one emerges.

Carry Trading: Carry trading, or simply ‘the carry trade’ as it is called, is the strategy of simply buying a high interest-rate currency against a low interest-rate currency and holding the position for what is usually a long period of time. Forex brokers will pay traders the interest rate difference, or ‘swap’, between the two currencies for each day the position is held. The trick here is that higher-yielding currencies are susceptible to large sell-offs if the market loses risk appetite since these currencies are generally considered riskier than safe-haven currencies like the U.S. dollar or Japanese yen, so it’s a good idea to trail your stop loss up to lock in profit as the carry trade moves in your favor.

• Professional Forex traders vs. amateur Forex traders

Professional Forex trading might seem like something of an elusive or difficult goal for those of you struggling to trade profitably or just beginning to trade. But, there are a few key differences between pro traders and amateur traders that you should be aware of to help you improve your trading or get started on the right track if you are a newbie:

• The important role of Banks in Forex trading

Banks play a very important role in FOREX trading. In fact, most of the market plays against larger banks, hedge funds and big-money players. Commercial banks (such as Deutsche Bank and Barclays) provide liquidity to the Forex market due to the trading volume they handle every day. Some of this trading represents foreign currency conversions on behalf of customers’ needs while some is carried out by the banks’ proprietary trading desk for speculative purpose. The bottom line is that we retail Forex traders are small-change compared to the bigger players like commercial banks, hedge funds, and other big players. We can profit from the moves these big players cause in the market by finding our own edge in the market and trading it with discipline.

rfxsignals July 25, 2019 No Comments

DAILY FREE FOREX SIGNALS FOR 25-07-2019 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

NZDUSD BUY -0.66927
SL-0.67326
TP1-0.66732
TP2-0.66565

EURJPY SELL-120.299
SL-120.652
TP1-120.120
TP2-119.911

EURCAD SELL-1.46105
SL-1.46561
TP1-1.45899
TP2-1.45703

GBPCHF SELL-1.22887
SL-1.23210
TP1-1.22725
TP2-1.22566

USDJPY SELL-108.037
SL-108.379
TP1-107.881
TP2-107.690

USDCHF BUY -0.98573
SL-0.98270
TP1-0.98720
TP2-0.98883

GBPJPY SELL-134.718
SL-135.255
TP1-134.418
TP2-134.124

GBPUSD SELL-1.24690
SL-1.25123
TP1-1.24472
TP2-1.24294

GBPCAD SELL-1.63751
SL-1.64110
TP1-1.63515
TP2-1.63242

EURNZD BUY -1.66231
SL-1.65751
TP1-1.66417
TP2-1.66621

EURGBP BUY -0.89204
SL-0.88778
TP1-0.89417
TP2-0.89652

EURAUD BUY -1.59737
SL-1.59368
TP1-1.59987
TP2-1.60262