In forex trading, there are two main reasons why traders make huge consecutive losses. One is greed, and the other is a lack of good risk management strategies when trading. In forex, greed refers to trading without a specific reason or without identifying an opportunity to trade. in other words, it refers to trading without... Continue Reading →
A breakout is a price movement in a different direction from the previous price activity in the forex and crypto markets. It can be a change from a downtrend to an uptrend or from an uptrend to a downtrend. It can also be a price movement through a well-established support or resistance level. When the... Continue Reading →
The AUD/USD took a dive after the Reserve Bank of Australia (RBA) raised the benchmark cash rate by 25 bps (basis points). Source: TradingView The Reserve Bank is trying to control inflation, which is currently at a three-decade high. The move leaves the door open for further rate hikes, raising concerns that the reserve bank... Continue Reading →
Gold prices (XAU/USD) remain stagnant at around $1,855 as traders brace for major market releases today (Monday, March 6, 2023). Traders are keeping a keen eye on several headlines including China’s inflation data, Fed Chair Powell’s testimony, and the US NFP. Source: TradingView There is also the US Dollar’s indecisiveness despite a retracement in the... Continue Reading →
Next week, the Bank of Canada (BoC) will have its monetary policy meeting for interest rate announcement. However, there is no significant change in rates from what was agreed upon in the January meeting is expected. At the January 25 meeting, the bank's governing council decided to raise the rate by 25 basis points, to... Continue Reading →
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