Tag: forex trading

EUR/USD Update: Another Chance For Rally

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals - EUR/USD


Last month I shared with you a trade setup for a single currency against the Fiat King. There were two charts posted: one was showing the global map and the other one was dedicated to the short-term trade setup.

You could have booked around 1.9% or more than 200 pips by the end of the March of my earlier trade idea, where I recommended buying the euro on the dips below 1.23. The ultimate target was set according to the Fibonacci ratio projections between the $1.2647 and the $1.3139 per 1 Euro. The risk was limited below the $1.2150, and it was not materialized since then.

Indeed, the Euro dipped below $1.23 down to the $1.2240 area as planned. But on the move to the upside, it only advanced as high as $1.2477 on the 27th of March still gaining more than you could have risked. The EUR/USD couldn’t overcome the earlier top beyond $1.2556, and it retreated after that.

In this post, I updated the EUR/USD chart for you as the short-term chart structure has changed and it offers another trading opportunity. Continue reading "EUR/USD Update: Another Chance For Rally" →

Don't Miss Another EUR/USD Rally

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals - EUR/USD


I spotted a promising trading opportunity in the Foreign Exchange market, and I would like to share it with you today as the setup is ready.

Before that, I would like to give you some insight about the global map for the pair of the single currency against the king currency (EUR/USD) to let you know where other opportunities could emerge as time goes by.

Chart 1. EUR/USD Monthly: Make It Or Break It

EUR/USD
Chart courtesy of tradingview.com

On the chart above, we can see the magic power of trends highlighted in blue for the upmove and in red for the current long-lasting correction. The former already took 115 months to unfold exceeding the period of the preceding upmove (93 months) significantly. This is what we always should bear in mind about the nature of corrections – they last longer than the moves they retrace. Continue reading "Don't Miss Another EUR/USD Rally" →

The Obvious Advantages of Trading Forex over any Other Open Market

Posted on by The INO.com Team

The sudden hype around Forex trading is not without good reason. Forex, which is the exchange of currency on the open market, provides a number of benefits that you won’t get from the stock market or other trading venues. Forex is fast, it’s fun and it has the potential to lead to big profits.

The Size of the Market

There is close to 2 trillion dollars being traded on the Forex market every single day. You don’t have that kind of liquidity in any of the other markets. With that much money floating around, there is no worrying about prices changing too much before you are able to enter or exit your trade.

With a market that is this large, it is also nearly impossible for prices to be manipulated by any one single group. This allows for a more accurate read of supply and demand as you analyze the market and your currency pairs.

Small Initial Capital

If you shop around brokers, you are going to find some that allow an initial investment of as low as $50. There is always potential to gain money in the Forex market, even when you are only putting up a small amount of money to start. Continue reading "The Obvious Advantages of Trading Forex over any Other Open Market" →

Every Day Is Black Friday In The World Of Forex

Posted on by The INO.com Team

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By Elliott Wave International

The foreign currency exchange market, known as forex, is the most liquid financial market on the planet -- liquid to the tune of $5.3 trillion traded per day!

That basically means every single day in forex is the day after Thanksgiving -- a.k.a. "Black Friday" -- with a stampede of traders pounding at the front door come opening bell, and then frantically racing up and down the market aisles in search of opportunities.

It's madness. Market turns are lightning fast. You have to be faster. You have one single goal: Get there before they're gone.

That goal, however, is difficult to attain if you're following the blueprint of mainstream financial analysis; which tells you to look outside the market for clues as to where prices will go next. The trouble with this strategy is that when you have your eyes focused outside the markets, you often miss high-confidence trade set-ups developing on the price charts themselves.

Take, for instance, the recent near-term performance in the euro/Canadian dollar exchange rate, forex name EURCAD. On November 20, the EURCAD took a nasty fall and continued slipping to a one-month low on November 21. Mainstream analysis identified the "cause" of the move after prices had already started to reverse: Continue reading "Every Day Is Black Friday In The World Of Forex" →

Are You Standing in Line Next to a Fellow Forex Trader?

Posted on by The INO.com Team

Take a ride on a New York subway and you will quickly be able to pick out the stock brokers. These are the Brooks Brothers suits, and probably a briefcase, cell phone in the ear barking orders. Now pick out the Forex traders. That's not nearly as easy to do since they look just like everyone else on the subway.

Sure that Brooks Brothers suit may also be dabbling in currency trade, if he's smart, but so may the guy in sweats sitting next to him. That’s because unlike other markets, Forex has no prejudices.
Trading in the other markets is constrained by time and money. If you don't have the right amount of either, there is no getting in. Forex on the other hand allows for trading around the clock and with very little investment capital. This makes it ideal for anyone who is looking to add to their income.

Who Can Trade Forex?

Admit it, you were always fascinated by the idea of top investors who were making tons of money just by having some. The idea that your own money could be put to work to earn you more has always been fancied, and the reason why banks offer interest earning savings accounts. With the easy availability of Forex, you can expand on that premise and increase your wealth quicker.

Take a teacher for example. You already know they are underpaid, plus they have all these long breaks with nothing to do but read books and watch re-runs. Learning how to trade in the Forex market is ideal for this profession. Not only do they have the spare time before and in between classes to check on their trades they also have months of free time to learn how to get really good at it.

A teacher could find a broker that allows for just a few hundred dollars to get started in trading. With leverage, their investment, and of course return, will be increased allowing them to profit more than what they had in the account would have allowed. So think about it at your next meeting at your son's school. His teacher could be in on Forex trading too.

What about those professions whose hours as not as steady as a teacher's are? Continue reading "Are You Standing in Line Next to a Fellow Forex Trader?" →