EUR/USD Price Forecast: A deeper, sustained drop seems unlikely Premium
EUR/USD added to Wednesday’s retracement and breached the key 1.1100 support to hit multi-day lows on Thursday.
Forex Analysis
Forex analysis is how traders assess the next moves a currency pair is about to take, providing insights for taking a position. For this reason it is an essential tool for traders to make the best decisions in their daily trading routine, based on the fundamental and technical aspects of an asset. Fundamental analysis is based on the countries' economic situation, future prospects, and primarily what central banks plan to do with interest rates. Technical analysis focuses on previous price action, the repeat of well-known chart patterns, and other factors.
Topics in Depth
SafeMoon Price Prediction: SAFEMOON contemplates 34% gains
SafeMoon price is experiencing a bottom formation as SAFEMOON approaches a crucial support level twice over the past week. If a bounce from this barrier evolves, it will indicate a double bottom reversal in play. SafeMoon price crashed 20% between July 19 and July 20 to $0.00000273.
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DEEPER DIVE
Five factors moving the US dollar and not necessarily to the downside
For the dollar, that light at the end of the tunnel turned out to be a truck roaring at full throttle to run it down. The news of coronavirus vaccines sent stocks higher and the safe-haven dollar lower. Alongside decisive US elections and later some fiscal stimulus, there was no need to run for shelter, and the dollar suffered.
The Homeworking Revolution: Change accelerates for businesses, real estate and stock markets
The pandemic-fostered explosion of working-from-home will be a permanent change. COVID-19 has reinforced trends that were remaking the business office before the pandemic. Property valuation and tax revenue will flow from cities to suburbs and high-cost to low-cost states.
Top commodities to trade amid global reflation: Silver and copper to outshine gold price
Commodities witnessed an interesting end to a decade in 2020. Traders were caught off-guard by the unprecedented coronavirus crisis last year. Likewise, a strong recovery across the commodities board came as a surprise, bringing them in vogue and kick-starting a super cycle.
STOCKS
NIO Stock News and Forecast: NIO rebounds firmly, tests $42 mark Premium
After crashing as much as 9% on Tuesday, NIO shares staged a blistering 6.305 recovery rally on Wednesday. The NIO stock rebounded firmly from two-month lows of $38.66 and tested $42 before closing the day at $41.84. The relief rally in NIO came on the back of a dovish Fed outcome and conciliatory articles from the Chinese state-run media, which helped to calm nerves after the recent rout in China’s stock market. NIO has recaptured the $40 threshold, but it remains to be seen if the renewed upswing could sustain going forward.
FX in Depth
Today, the CRE sector faces the triple whammy of falling prices, falling demand, and rising interest rates. The post-pandemic rise of telecommuting and work-at-home programs crushed demand for office space. Vacancy rates in commercial buildings have soared.
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Cycle Analysis
"A cycle is a recognizable price pattern or movement that occurs with regularity in a specific time period"
Sentiment agregator
"Advisory Opinion, comprised of arguments and trade ideas which have been committed to publication and therefore have an influence on the trading public, are considered a sentiment indicator."
Intro to Ellio Wave
"Have you ever read news updates mentioning Elliott Wave yet you don’t have a clue what these mean for the Forex?"
Support and resistance
"Support and Resistance Lines conform the most basic analytical tools and are commonly used as visual markers to trace levels where the price..."
Currencies
Education
What are the types of Forex Analysis?
There are innumerable ways to analyze the Forex market, but its goal is the same: trying to predict where the price is headed next. The most popular types of forex analysis are:
- Technical analysis
- Fundamental analysis
- Sentiment analysis
What indicator is best for Forex?
There are several indicators key to trade the forex market, and all of them are a great tool for the trader to forecast where the price can go next.
There are indicators of sentiment, trend, volume, etc. Their value will depend on the strategy the trader is trying to follow and its risk management rules.
How do you analyze trends in Forex?
Detecting directional movements is critical. At the end, an FX trader needs to determine and anticipate such a move, or trend, to make profits.
There are multiple tools that can be used to achieve the goal, such as trend lines, supports, resistances, technical indicators, and even pure observation of the price behaviour on the forex chart.
It’s important to take into account that fundamental analysis is as important as the technical one. Using both the trader could better forecast the trend to maximize the benefits and limit the losses trading Forex.
How do I create a Forex Strategy?
The best strategy for one person could be the worst one for others. There are several questions that need to be answered ahead of defining it. How many hours can I dedicate to FX? What is my risk tolerance? These among the most relevant questions.
A forex strategy is a combination of tools that should result in a positive balance in a certain period of time. During the creation of a strategy, flexibility and imagination are very important values. Once the strategy is created, discipline is one of the greatest virtues.
How can beginners start trading forex?
Every learning process is evolutionary and requires the right steps to be followed in order to obtain knowledge and develop skills.
For new traders, it is advisable to work with simple but very powerful tools, such as trend lines, support and resistance or Japanese candlesticks.
It is advisable to start working on simple patterns, such as triangular figures, rectangles or reversal patterns. These types of layouts are easier to manage and the novice trader will learn to manage positions without large ranges that increase risks.
Educate yourself. Knowing the tools, and learning to use it is critical. As in any other professional career, learning before practicing is the key to success. Recognizing strengths and weaknesses is also a critical part of this process.
How do I get a forex signal?
There are multiple providers of forex signals send traders positions that are ready to be traded out of box. FXStreet has its own signals service with experts at different markets. In the FXS Signals service, you will have access to multiple trading signals, both algorithmic and executed by our team of expert analysts. Automated strategies are presented in a transparent manner and the technical fundamentals on which the strategy is built are provided. Manual strategies executed by FXS experts are always explained with a didactic objective. Tthat allows the user of the FXS service to not only execute the trade with understanding, but also to make their own decisions in the future.