FOREX INSIGHTS 29-DEC-2018

EUR/USD:

• EUR/USD is poised to close nearly 5% lower year-to-date with the pair trading just 1.5% off the 2018 lows.

• For months now, we’ve been tracking a key support pivot in Euro and the focus remains on a breakout of the consolidation range which has governed price since October.

• Price holding critical support confluence at 1.13

GBP/USD:

• Sterling is facing resistance and rallied a bit during the week, reaching towards the 1.27 level.

• The British pound has broken through a significant support a couple of candlesticks ago, and it now looks as if it is offering resistance yet again.

• GBP will continue to struggle, and the breakdown from a couple of candlesticks ago suggests that we are trying to make the next leg lower.

USD/JPY:

• Traders have remained net-long since Dec 18 when USDJPY traded near 112.517; price has moved 1.9% lower since then.

• The percentage of traders net-long is now its highest since Mar 11 when USDJPY traded near 106.9.

• The number of traders net-long is 8.7% higher than yesterday and 2.7% higher from last week, while the number of traders net-short is 14.5% lower than yesterday and 17.2% lower from last week.

CRUDE OIL:

• U.S. oil futures finished higher Friday after government inventory data showed a smaller-than-expected fall in crude inventories, but contrasted with unofficial figures that had showed a massive supply build, sparking a relief rally.

• West Texas Intermediate(WTI) crude for February delivery rose 72 cents, or 1.6%, to end at $45.33 a barrel.

• Oil booked a weekly decline of 0.6% based on last Friday’s settlement.

GOLD:

• Gold prices pressed higher on Thursday as a record surge in stocks showed signs of fading and political uncertainties supported demand for the safe haven metal.

• Gold futures for February delivery on the Comex division of the New York Mercantile Exchange rose $5.70, or 0.45%, to $1,275.45 a troy ounce.

• Gold surged 4% so far in December as investors rotated out of stocks and into the safe haven asset.

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5 Ways for Profitable Forex Trading

Forex Trading is profitable if the trader has taken care of following points

Trading style:

Identify what type of trader are you. Both will have different roles in trading.

* DAY TRADERS– Short term trading opportunities, higher risk, quick and responsive.

*POSITIONAL TRADERS– Long term opportunities, patient and emotionally balanced.

Trading Plan:

Having a Forex trading plan is one of the key elements to becoming a successful Forex trader. Many traders never even make a trading plan, let alone use one regularly. It’s very important that you do both; make a trading plan and use the one you make…don’t just make one and then never look at it like many traders do.

Trading Plan Helps you to:

*Assessing your skill
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*Set yourself goals
*Prepare for trading
*Set Exit Rules

Trading Strategy

A Forex trading strategy is a technique used by a Forex trader to determine whether to buy or sell a currency pair at any given time. Forex trading strategies can be based on

• Technical Analysis

• Chart Analysis

• Fundamental Analysis

• News-based Events.

The trader’s currency trading strategy is usually made up of trading signals that trigger buy or sell decisions.

Emotional Balancing

All successful traders have come to realize, it is of utmost importance to have a psychological edge in trading and the ability to control your emotions and stay focused.

Market Fundamentals:

As the largest financial marketplace, forex is affected by an incredibly diverse amount of factors. These market fundamentals are the key pieces to determining when a currency is going to rise in value and when it’s going to fall. Trading on the fundamentals – also referred to as trading the news, is the study of news events and economic statistics to determine trading opportunities. These traders pay close attention to changes in economic indicators such as interest rates, employment rates, and inflation. By assessing the relative trend of these data points, a trader is analyzing the relative health of the country’s economy and whether to trade the future movement of their currency.

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Learn About Forex Demo Account

The demo account (or we can say DEMONSTRATE a/c) is actually a platform for demonstration of all your theoretical knowledge. We might have learnt numbers of patterns, charts, indicators and many more analytical tools. However, as a beginner or an experience Trader, one cannot apply all these theory directly on Real Account and risk all the money.

Thus, Demo Account is an interface/platform where the user gets the same feelings, emotions and practical knowledge that he is getting in real account. Our Team suggest all the beginners to start trading with Demo Account for few days and then switch to real account.

Why To Start With Demo Account?

If you are beginner, then its really important to start trading with demo account for the following reasons:

• Demo Account doesn’t involve real money.

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• Its a good practice platform.

What NOT to do with Real Accounts?

Well, as demo account is really helpful for all your learning purposes but the following things should be noted before starting with your real account.

• Capital Management. As demo account involves virtual money, traders makes an habit of trade with bigger lot size on real account also. Money Management is really important factor when you switch from demo a/c to real a/c.

• Risk Analysis. When you trade with demo account you are in risk free zone as you have nothing to loose but with real account Risk Analysis is important part of trading.

• Its really not necessary, if you are good in demo account then you will surely get good profits in real account. You may need expert Analysis or a good research team with good signals.

All the above qualities are being taken care in Equidious Research.

Join 300,000+ traders who stay ahead of the market, submit your details with us by filling our CONTACT FORM.

For the Best Forex Signal| Accurate Stock Signal| Profitable Comex Signals, Try Equidious Research Services. We have a team of best and well experienced Research Analysts.

Trading is an art of making handsome amount.

Enjoy Trading!