20 things you need to be a successful trader

Forex has caused large losses to many inexperienced and undisciplined traders over the years. You need not be one of the losers. Here are twenty forex trading tips that you can use to avoid disasters and maximize your potential in the currency exchange market. 1. Know yourself. Define your risk tolerance carefully. Understand your needs. To profit in trading,…

Read More

5 Forex Beginner Tips

The 5 forex trading tips listed below are mentioned throughout this articles. That’s because even though they can’t guarantee success ? nothing ever can, otherwise everybody would be successful ? they can save you a lot of money. Experience shows that many beginning forex traders bleed money mainly because they fail to follow the next five principles: Forex Beginner…

Read More

GBP/JPY Weekly Forecasts

  The British pound has broken down significantly during the course of the week, slicing through the ¥145 level. However, we turned around to form a massive hammer. If we can break above the top of the hammer, I think the market probably goes towards the ¥150 level again. The overall attitude of the market has been negative over…

Read More

GBP/USD Weekly Forecasts

  The British pound also acted very much like the Euro, and I think the 1.33 level may be an area where we see buyers come into the marketplace and try to pick up value. I think a bounce over the next week is to be expected. However, if we break down below the hammer for the week, it’s…

Read More

EUR/USD Weekly Forecasts

  The Euro fell significantly during the week but turned around to rally from the 1.15 handle. That’s an area that coincides with the 50% Fibonacci retracement level, and also structural resistance that now should offer support. The fact that we formed a hammer tells me that buying on the dips and building a position to go higher is…

Read More

NZD/USD Weekly Forecasts

  The New Zealand dollar has gone back and forth during the week, as we continue to bounce around between the 0.68 level on the bottom, and the 0.70 level on the top. We did break above there momentarily, but if we can break above the top of the candle stick, I think the market reenters the longer-term consolidation…

Read More

USDCAD Weekly Analysis

USDCAD is facing 1.2997 resistance, a breakout of this level could signal resumption of the uptrend from 1.2526, then next target would be at 1.3200 area. Support is at 1.2728, only a breakdown below this level could trigger another fall towards the bottom support trend line of the price channel on the daily chart.       USDCAD Daily…

Read More

USDJPY Weekly Analysis

USDJPY broke below the bottom of the price channel on its daily chart, suggesting that the upside movement from 104.63 had completed at 111.39 already. Further decline would likely be seen and a breakdown below 108.64 support could take the price to 106.00 area. Resistance is now at 111.39, only break above this level could trigger another rise towards…

Read More

GBPUSD Weekly Analysis

  GBPUSD extended its downside movement from 1.4376 to as low as 1.3291. Further decline is still possible after a minor consolidation and next target would be at 1.3000 area. The key resistance is at 1.3617, only a breakout of this level could signal completion of the downtrend.     GBPUSD Daily Chart:  

Read More

EURUSD Weekly Analysis

EURUSD stays below a falling trend line on its daily chart and remains in the downtrend from 1.2413. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.1450 area. On the upside, a breakout of the trend line resistance could bring the price back to next…

Read More