The medium-term uptrend in the EURUSD pair has been breached by the sharp fall of the price on 23 June 2016.After hitting a low of 1.09132 prices has correct towards the level 1.13648 level. The EURUSD pair has been suffering from indecision since both the currencies is facing hardship in their economic performance. The fast recovery of the pair has been triggered by the recent bad data of US unemployment claim and average hourly income. Investors are waiting patiently for the FOMC meeting minute since there is 20% chance of interest rate hike in the month of September. The FED was strongly determined with theRead More →

The medium-term uptrend is the EURUSD pair is still intact after forming the initial bottom towards the 1.05223 level, low of 3rd December 2015.The pair has managed to form nice higher high associated with lower lows after hitting the low of 1.05223 to form the medium term uptrend against the long-term prevailing downtrend. On 3rd may 2016 the pair has hit a significant key resistance level 1.16163 in the daily chart and started to move downward in favor of the long-term bearish trend. The bearish movement of the pair formed a nice descending channel pattern in the EURUSD pair indicating fresh selling pressure in theRead More →

Professional traders use the different style, techniques and trading strategies to trade the forex market. One of the most popular trading strategies in today’s forex market is “Price Action Trading.” Price action trading involves the study of rice price data and finding high probability trade setup in the forex market. Traders use “Bar chart and candlestick Chart” to trade the forex market with price action trading strategy. This technique is very simple which is most based on candlestick formation in the support and resistance level. Price action trading is highly profitable in the longer time frame. Professional traders use the naked chart to read theRead More →

Trading the forex can be very much intimidating since extensive knowledge and self-discipline is required to make the profit from this high leverage market. “It’s in human nature that they will always love to win and make the profit”. True professional traders who are now successful in Forex trading has developed unique sets of skills which go against the very human nature. They accept losses happily in this market. It is often said that almost 95% of the traders lose money in this industry. So, “Why they are losing?” They are losing because all of them are making the common mistakes in the market. ThreeRead More →