Forex Trading For Beginners 2021

End of year markets can be extremely difficult to trade. EUR/USD is no exception. On one hand they can be extremely quiet as many big money funds have wrapped up trading for the year. Why risk losing profits as we head into the last two trading weeks of the year? These funds may have even been out of the market before the central bank meetings last week due to the uncertainty! However, on the other hand, there can also bursts of volatility due to the illiquid markets. If someone, such as a trader for a pension fund, needs to get a position on in a product, he or she can move the markets, as there may not be many traders on the opposite side of the trade. Therefore, when trading at year end, it is best to take a longer-term view of the markets. If traders use smaller positions and wider stops, they are less likely to get taken out by any volatility. EUR/USD has been moving in a downward sloping channel since reaching May 26th. However, the pair posted a false breakdown at the bottom tr...

Gold could not find enough buyers to overcome the 1,800 level during the previous sessions, with the spotlight shifting again towards the 1,784 support zone and the Ichimoku cloud. The RSI and the MACD continue to flatten, while the former has also slipped back below its neutral threshold of 50, feeding pessimism that the bulls may gave up the battle. An extension below 1,784 could activate a stronger bearish wave towards the 1,7661 level. Failure to hold above that floor could see a continuation towards the 1,745-1,750 restrictive region. The 1,800 round number, could challenge any bullish attempts towards the 200-day SMA, which stands near the 1,809 barrier. Any breakout above this region may gather extra interest, with the price likely speeding up to 1,815. Yet, only a rally above 1,850 would violate the neutral trajectory and hence add credence to the bullish run. In brief, despite the latest rebound off ...

The price for gold passed the support of the 100-hour simple moving average near 1,790.00 on Tuesday afternoon. However, the price almost immediately found support in the 200-hour simple moving average, which kept the rate up until the middle of Wednesday. At mid-day on Wednesday, the price was approached by the resistance of the 50-hour SMA. If the 50-hour SMA causes a decline, the price would need to pass the 200-hour simple moving average near 1,787.00, before aiming at the lower trend line of a channel down pattern near 1,775.00. On the other hand, a recovery of the bullion would have to reach above the 50-hour SMA near 1,792.00. Afterwards, the upper trend line of the channel down pattern could act as resistance near 1,793.50. Close nearby, note the 100-hour simple moving average at 1,795.70. December 23, 2021 at 12:20AM Dukascopy Swiss FX Group https://ift.tt/3Eo5KL4

The USD/JPY succeeded at its second attempt to reach a new December high level. By the middle of Wednesday’s European trading hours, the rate had reached above the 114.30 level. If the USD continues to gain against the Japanese Yen, the pair would have no technical resistance as high as the weekly R2 simple pivot point at 114.86. However, the pair needs to clearly pass the weekly R1 simple pivot point at 114.30. A potential decline of the rate might look for support in the 114.00 mark and the zone at 113.88/113.95. Slightly below, take into account the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 113.85/113.72. December 23, 2021 at 12:05AM Dukascopy Swiss FX Group https://ift.tt/3srLTbz

The GBP/USD currency exchange rate has continued to move higher. At mid-day on Wednesday, the rate left below it the hourly simple moving averages, the weekly simple pivot point and the high level resistance zone near 1.3280. By 12:00 GMT, the GBP had reached the 1.3320 mark against the USD. A continuation of the surge of the Pound against the US Dollar could result in the rate reaching the weekly R1 simple pivot point at 1.3357 and the December high level at 1.3375. Meanwhile, a decline of the pair might look for support in the previously passed technical levels. Namely, note the 50, 100 and 200-hour simple moving averages, the weekly simple pivot point and the previous high level zone. All of these levels and indicators are located in the 1.3240/1.3290 zone. December 23, 2021 at 12:04AM Dukascopy Swiss FX Group https://ift.tt/3mq9dTe

During late Tuesday hours and early Wednesday’s trading, the EUR/USD reached both below support and above resistance. The pair reached two times below the support of the weekly simple pivot point at 1.1276. At mid-day on Wednesday, the pair had recovered and moved above the 1.1302/1.1305 resistance zone. In the case that the pair surges, it could reach for the resistance of the weekly R1 simple pivot point at 1.1329. Above the pivot point, note the December high level resistance zone near the 1.1360 level. On the other hand, a potential decline of the Euro against the USD would need to pass the recent low levels and the 1.1260 mark, before aiming at the December low level zone at 1.1228/1.1236. December 23, 2021 at 12:03AM Dukascopy Swiss FX Group https://ift.tt/3sqVFKZ

Cable keeps bullish tone for the second straight day and hit weekly high above 1.33 mark, following minor negative impact from weaker than expected. UK GDP and improved sentiment on expectations that Omicron may cause limited damage to the economy that revived risk appetite. Fresh bulls eye pivotal barrier at 1.3337 (50% retracement of 1.3513/1.3161 bear-leg/Daily Kijun-sen), close above which would sideline larger bears and open way for a stronger correction. Broken 20DMA offers solid support at 1.3266, with close above here required to keep near-term bias with bulls. Rising 14-d momentum is breaking into positive territory and supporting the action. Res: 1.3337, 1.3353, 1.3379, 1.3430. Sup: 1.3266, 1.3240, 1.3197, 1.3164. December 23, 2021 Windsor Brokers Ltd https://ift.tt/3edAdks