Daily Technical Analysis & Forecast | XtreamForex

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  1. #11
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    Default How are Bollinger Bands used in forex trading?

    Daily Technical Analysis & Forecast | XtreamForex
    How are Bollinger Bands used in forex trading?
    ]
    Bollinger Bands are one of the most popular technical indicators for traders in any financial market, whether investors are trading stocks, bonds or foreign exchange (FX). Many traders use Bollinger Bands to determine overbought and oversold levels, selling when a price touches the upper Bollinger Band and buying when it hits the lower Bollinger Band. In range-bound markets, this technique works well, as prices travel between the two bands like balls bouncing off the walls of a racquetball court. However, Bollinger Bands don’t always give accurate buy and sell signals. This is where the more specific Bollinger Band “bands” come in. Let’s take a look.
    As John Bollinger was first to acknowledge: “tags of the bands are just that – tags, not signals. A tag of the upper Bollinger Band is not in and of itself a sell signal. A tag of the lower Bollinger Band is not in and of itself a buy signal.” Price often can and does “walk the band.” In those markets, traders who continuously try to “sell the top” or “buy the bottom” are faced with an excruciating series of stop-outs or worse, an ever-mounting floating loss as price moves further and further away from the original entry.
    Perhaps a more useful way to trade with Bollinger Bands is to use them to gauge trends. To understand why Bollinger Bands may be a good tool for this task we first need to ask – what is a trend?


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    Default Oil Prices Fundamental Report: Biggest Weekly Drop In A Month

    Oil traded steady on Friday, though it was set for its biggest weekly drop in about a month over doubts that an OPEC-led production cut will restore balance to a market that has been dogged by oversupply for more than two years.
    Brent crude futures (LCOc1) were at $52.99 per barrel at 0323 GMT (11:23 p.m. EDT), flat from their last close. Brent futures are set for a 5.2 percent weekly drop, the most since the week of March 10.
    U.S. West Texas Intermediate (WTI) crude futures (CLc1) were also almost unchanged, at $50.74 a barrel. WTI is set for a 4.6 percent weekly decline, also the most since March 10.
    Reuters' technical analyst Wang Tao said that WTI had support just above $50 per barrel, while Brent had support around $52.55.
    The stable prices on Friday followed a more-than-3.5 percent fall in both benchmarks earlier this week as doubts emerged over the effect of an effort led by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by almost 1.8 million barrels per day (bpd) during the first half of the year.
    Thomson Reuters Eikon data shows that a record 48 million bpd of crude is being shipped across ocean waters in April, up 5.8 percent since December, before cuts were implemented.

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    Default How to do Fundamental Analysis & Fundamentals Trading Strategies

    In the equities market, fundamental analysis looks to measure a company’s true value and to base investments upon this type of calculation. To some extent, the same is done in the retail forex market, where forex fundamental traders evaluate currencies, and their countries, like companies and use economic announcements to gain an idea of the currency’s true value.
    All of the news reports, economic data and political events that come out about a country are similar to news that comes out about a stock in that it is used by investors to gain an idea of value. This value changes over time due to many factors, including economic growth and financial strength. Fundamental traders look at all of this information to evaluate a country’s currency.
    Given that there are practically unlimited forex fundamentals trading strategies based on fundamental data, one could write a book on this subject. To give you a better idea of a tangible trading opportunity, let’s go over one of the most well-known situations, the forex carry trade. (To read some frequently asked questions about currency trading,

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    Default USD/JPY Forecast April 25, 2017

    The Dollar Index (DXY) gapped lower overnight as the outcome of the French election underpinned the euro, which makes up a big portion of the index. Despite the DXY’s weakness, the USD/JPY gapped higher as the news also undermined perceived safe haven assets such as gold and yen. But the gains for the USD/JPY were short-lived and the daily chart of the USD/JPY is currently displaying a bearish price pattern, which suggests that the gap may well be ‘filled’ completely in due course and there may even be a possibility for a deeper pullback.
    As can be seen from the chart, the USD/JPY is in the process of potentially forming an inverted hammer candlestick formation after the gap up. This price pattern is typically bearish as it highlights a lack of willingness from the buyers to hold onto their positions. Thus, we may see some weakness follow-through in the upcoming Asian session.


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    Default EUR/USD: Bullish above 1.0900 on ECB taper hints & softer USD


    EUR/USD: Bullish above 1.0900 on ECB taper hints & softer USD


    The EUR/USD pair stalled its recent bullish momentum in the Asian session this Wednesday, and now enters a phase of consolidation, after the bulls ran into the key resistance of 1.0950 levels.
    The spot is trying to defend the bids near 1.0935 region at the moment, moving slightly away from five-month tops reached at 1.0951 in the US last session.
    The Euro extended its rebound versus the American dollar on Tuesday, after the US dollar took the back seat across the board amid risk-on trades and doubts whether the Trump administration will actually provide details on the tax reform plans on Wednesday.
    The spot also remains underpinned amid easing French election-related anxiety, as a Macron win appears to be full priced-in by markets, with most opinion polls showing about 60% support for Macron against 39% for the anti-EU candidate Le Pen.
    Also, expectations of some hawkish hints from the ECB, with markets widely anticipating the central bank to resort to taper talks, adds to the recent bullish tone seen behind the major.
    Nothing of relevance for the major in the day ahead, and hence, the US tax reform plans announcement will hog the limelight later in the NA session.
    EUR/USD Technical Levels
    Technical resistances for the pair are aligned at 1.0950/51 (psychological levels/ 5-month tops), 1.0968/71 (classic R1/ Fib R2) and finally 1.1000 (key resistance). On the flip side, the spot finds next support at 1.0909/00 (daily pivot), a break below that level could open the door to 1.0866/67 (5-DMA/ classic S1) and 1.0775 (10-DMA).


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    Default USD/JPY Forecast – May 11, 2017

    in ro ham eslah kon:
    The USD/JPY pair had a volatile session on Wednesday, as we bounced off the 113.50 level, and then finally managed to build up enough momentum to break above the 114 handle. It looks as if we are going to continue the uptrend, and that should send us looking for the longer-term target of the 115 handle. That’s an area that has been resistive on the longer-term charts, and I believe that if we can break above there, the market becomes more of a “buy-and-hold” type of proposition. Pullbacks currently should be buying opportunities, and I recognize that the market continues to favor the USD/JPY pair due to the overall “risk on” attitude of traders. The markets continue to find buyers on pullbacks, and I don’t think that’s going to change. I believe that the 115 level is such a large target for traders that it’s almost impossible to ignore.
    Buying dips
    I continue to think that buying dips on short-term charts will be the way going forward, as we are most certainly in a very bullish trend. If we break down below the 113.50 level, the market could then go looking for the 113 handle, but at that point I would expect a lot of support as well. Either way, I have no interest in shorting this market, and believe that the longer-term buyers have already reentered the market after the lows that we saw several months. If we do somehow break above the 115 handle, the market should then go to the 118 level after that. Going forward, I anticipate that there will be a lot of volatility, but a general positive attitude as the US dollar is favored over a lot of currencies around the world, and the Japanese yen of course will be any different.

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