I just wanted to share with you my personal view on the GBPJPY currency pair.
Here’s the GBPJPY DAILY CHART.
On this chart we can see price have been carving series of high swings right from the lower low swings of August 2019 @126.578 to the highest swing high peak of December 2019 @147.947.
Price failed to carve a new swing highs and which price have been in a phase of consolidation right from the end of the year 2019 even till the time of posting this analysis.
Again we can see price have been bouncing through an intermediate bullish channel and now we can figure out clustering of price at out dynamic support trend line.
The note we have potential resistance @144.357 for the bull to clear in other to target next key level @146.772 and which a daily close would give us confirmation of bullish decision.
Meanwhile the bears are not giving up and we can see clustering of price to the support is a sigh of weakness of the bullish previous trend, Therefore a daily close below key level support @140.824 will trigger bearish interest to re-expose next support @138.082.
I just wanted to share with you Fxklex weekly Forex forecast 17th-21st/Feb/2020. Here are my personal views on the list of currency pairs listed here: #USDJPY, #EURUSD, #EURJPY, #EURCAD, #GBPUSD, #GBPJPY for the week coming ahead(17th-21st/Feb/2020).
I have put a video together for you, in this video I gave analysis on these lists of currency pairs and what I can technically spot out.
Kindly watch this video as this will help you to have a better understanding about the market next-week thereby helping you to make the best decisions.
Click on the video👇below to watch what I’m looking out for in next week on my trading chart.
Want to get access to my trading strategy on this currency pairs this week? click here now 👉:https://bit.ly/2SL1h0L
What do you think about next Week Forex Forecast?
Remember the comment box is all yours on the YouTube channel and also here on the Blog..👇
Forex trading, also known as currency trading, can be a very profitable activity when you chose a reliable broker. It is a very hot trend business right now in making money online from home in this 21st century. Trading the Forex market has never been easier or more profitable and there are so many tools for Forex beginners to trade nowadays. However, we’re faced with challenges while we want to start off with Forex trading, especially for Forex beginners.
If you don’t know how to pick out a reliable Forex broker, hopefully by the time you finish studying this brief article, you should be armed with enough knowledge and perception to make an informed decision on choosing a reliable Forex broker.
As you in all likelihood already realize, you may be supplied with numerous selections and everyone will usually present themselves as the best choice. As a smart old knight once advised Indiana Jones, “Choose wisely my son” and this is applicable to your choice in this arena.
Just as you would do your research in selecting an automobile mechanic or a plumber, the equal philosophy should preserve real here. Actually, even more so because you’re going to risk your hard-earned money.
If you need to begin Forex trading or currency trading as a Forex beginner, one of the first steps that you have to take is choosing a reliable Forex broker. The majority of Forex beginners in the Forex trading normally do trials and errors until they can locate the quality broker that fits their needs. In order to keep time, decrease trials and errors, the following are numerous helpful tips that you may use while choosing a reliable Forex trading broker.
But first, and I’m positive you understand this. One of the first-rate sources of information on brokers that you may discover is from Forex traders. Don’t be afraid to search for online chat rooms and forums handling the Forex trading markets and start asking questions. You’ll be pleasantly surprised at how much information people will volunteer while asked.
Let’s examine some of the most common elements you should observe while deciding on which reliable forex broker to choose from, shall we?
Factors To Consider When Choosing A Forex Broker
1. Registration and History
Of course, no trader would really like to cope with “Forex scams”. This is why you need to discover whether the broker you’ve decided to trade with is registered with regulating authorities. You have to make sure that any broker that you are going to cope with is registered with a regulatory agency.
Do not immediately consider a broker that announces to have a reputable commercial business enterprise before checking the registration. If a broker isn’t already registered to any regulatory business agency as promised, you can make certain that the broker is a medium to commit scamming activities. Contact the regulatory organization in your country
to confirm the broker’s credibility. The following are regulatory agencies around the world.
Australian Transaction Reports and Analysis Centre (AUSTRAC)
Canada Deposit Insurance Corporation
French Prudential Supervision and Resolution Authority (Autorité de contrôle prudentiel et de résolution – ACPR)
Financial Services Agency
Central Bank of Nigeria (CBN) (Nigeria)
Swiss Financial Market Supervisory Authority
Financial Conduct Authority (FCA)
National Credit Union Administration (NCUA) etc
2. Support and service
The Forex market operate 24 hours a day from Sunday night to past due on Friday afternoon (EST). Make sure the broker’s trading facilities are available the whole time (most will be) and that you could get support around the clock during trading hours – regardless of the hour.
There are seven big-league currencies – US dollar (USD), Canadian dollar (CAD), Great Britain Pound (GBP), European Union (EUR), Australian dollar (AUD), the Swiss franc (CHF) and Japanese yen (JPY). Make certain your broker covers some of these currencies.
You must also expect your broker to provide charts and technical analysis, and of course to execute an order without delay at whatever rate is displayed.
3. What it’s going to cost
Forex brokers don’t look for a commission, but instead, earn their profits from the amount by way of which the purchase and sale price differs on any forex pair. This difference is referred to as the spread and is calculated in pips. The spread could range from underneath 1 pip to around 3 pips; it all relies upon on the pair being traded – and of the direction of the broker.
If you’re not sure what a pip is, the 3 letters stand for “percentage in point”. Prices are quoted to four decimal points (except in Japan, wherein they’re quoted to the second one decimal point). So if to procure a rate on a pair with a bid of 1.2015 and an offer of 1.2017, the spread would be 2 pips.
The size of the spread will affect your earnings over the lengthy-term, so observe your broker’s terms closely. In particular, in case you intend to focus precisely on a particular currency pair, study those spreads, as they may be extra important. You’ll possibly also encounter some special offers when figuring out wherein to place your business, however, don’t be influenced too much by that form of thing. Remember, it is a unique offer, and will possibly soon disappear once you’ve got devoted yourself to a selected broker.
Also, check the minimum you want to place in your account. Beginners need to start cautiously, so search out a broker who’s happy to help you begin with the little amount you can afford to fund on your trading account.
4. Check whether the broker permits traders from your country
Some of the Forex market brokers available disallow traders from several countries. For example, there’s a trusted broker inside the UK that disallows investors from the US. You have to make certain that the brokers you’re comparing permit investors from your country to open an account.
5. Check the trading platform
An expert and reliable trading platform is a must to have for Forex trading. Most legitimate brokers provide traders with an easy-to-use trading platform and easy-to-apprehend training. A good trading platform presents you with all the capabilities that you need to execute your trading. Create a demo account with numerous brokers so you recognize the performance of every trading platform.
As final words, take some time in choosing a reliable Forex broker and conduct a thorough evaluation of numerous brokers. Your chosen broker needs to be the one that you fully consider to maintain, provides reliable support system and protect your hard-earned cash. If you follow the above tips when choosing a reliable Forex broker, probabilities are you may discover one that suits your needs.
I haven’t discussed much on the USDJPY for some period of time now, due to the fact the currency pair isn’t respecting my constructed key-levels.
The currency pair had been in an intermediate bullish trend right from its low from August of 2019 and it did broke its long-term bearish trend line in January of this year 2020. Remember we had a formation of an inverted head and shoulders which constitute to the upward bullish momentum for the currency pairs.
Although the breakout of the long-term bearish trend was a fake breakout which resulted into another short term bearish rally of 195pips which built up a swing high low @108.304. This swing high for now is still yet to confirm a new high swing.
Take note we have a potential key-level to watch out for @109.631 qhich is currently acting as a key support level as of the time of posting this content.
Viewing this chart with an eagle eye one would notice price is caving a narrow wedge and which is a technical signal of indecision of direction breakout(price can either break upside or downside).
SO WHAT’S NEXT ON USDJPY?
We have to respect the fact there’s a potential keylevel resistance which lies @110.937 also we need to put into consideration the bullish reflection of the inverted head and shoulders. Well I’m not a fan of taking upside breakout of a narrow wedge for the fact most do result into a bullish trap.
A daily close above key-level @109.631 may interest buyers to pull price up for an upward breakout while failure for the bull to defend the 109.631 zone may interest sellers to retest key-level support @108.304 which may interest way to support @106.671.
Hello Forex Trader, I just wanted to share with you my latest personal view on the EURJPY.
The currency broke an intermediate bullish rising channel which price did retested broken dynamic support trend-line on the 5th-Feb-2020 and which the dynamic broken trend-line proof to act as a new dynamic resistance trend-line for this currency pair.
EURJPY had been trading within the range right since retest of dynamic trend-line acting as resistance level, also remember we have a potential key-level resistance @121.415 and an active support key-level structure @119.466.
My analysis found out on the weekly time-frame a potential bearish pin which is in support of the breakout of previous bullish intermediate trend right from 25th-Aug-2019.
SO WHAT’S NEXTON EURJPY?
Will the bull defend key-level support @119.466 to retest resistance key-level @121.415?
Will the bear be successful to trigger a rotation to breakout of key-level support to open the path to re-expose key-level support @118.1995?
Will the bull and bear continue in a battle within the range?
Well a daily close below key-level support will show sign of the bears interest to move price more bearish while failure for the bears to break support today may trigger interest for the bulls to gather momentum to pull price upward or alternatively may result into trade withing the range.
I just wanted to share with you my latest personal view on the EUR/GBP DAILY CHART MARKET ANALYSIS (7th-Feb-2020).
I emphasized days ago in my last post about my decision to patiently await a retest of our broken dynamic resistance @0.84871 trend-line which I’m expecting to act as a new dynamic support level and price have been bouncing continuously through this range zone for good 4 days now.
At the moment we have not yet seen a strong price action to signal a reversal in an upward rally so our obligation as a conservative trader is to keep an eye on EUR/GBP should in case of any breakout opportunity.
Alternatively if the bull fail to protect price above this potential key-level @0.84871 today then this might result into fake breakout and this may trigger a rotation back for the bears to retest our broken dynamic resistance trend-line and also may trigger more bearish momentum to re-expose key-level support @0.83092.
I just wanted to share with you my latest personal view on the BITCOIN DAILY CHART MARKET ANALYSIS (3rd-Feb-2020).
As at the time of publishing this post, Bitcoin is currently trading at resistance zone price level of 9419.91 which price had been trying to break through right from the 1st of February 2020. Remember bitcoin broke through an intermediate bearish channel and in which we had a retest of our broken dynamic trend-line which acts as new resistance dynamic line giving rise to its upward short-term bullish trend.
If you are a member of the VIP TEAM you ought to be in a reasonable profit by now. Also do not forget to check my latest update on this signal whereby I gave an advice for active traders on this market to trail their existing profit to 9100 price level.
SO WHAT’S NEXT ON BITCOIN MOVEMENT?
Well a daily close above our active horizontal key-level @9419.91 will give a clue of the bullishness of the bull and if buyers failed to breakthrough to the upside this may interest sellers to pull price to retest potential support which acts @ 9100 level. A breakthrough below this potential support @9100 may open more door for retest of previous support level @7703/7600.