The topic of the Japanese candlestick patterns in currency trading is rather controversial because not all of them apply to the spot foreign exchange market. With almost no gaps between the candles and no definite daily close/open levels, the traditional candlestick patterns are somewhat less applicable in Forex. The cheat sheet below summarizes the candlestick patterns as they present themselves in FX trading. It omits some of the famous ones, which work […]
Read moreThe US dollar rose against most of its major counterparts on Monday to begin the week on a positive note, as traders anticipated the outcome of the latest Federal Reserve meeting. However, solid inflation data in the eurozone pushed the euro higher against the greenback. The Federal Open Market Committee will begin a meeting that will last two days tomorrow. Policymakers will decide whether adjustments to the monetary policy are required to maintain the health of the US […]
Read moreThe US dollar rose against most of its major counterparts on Monday to begin the week on a positive note, as traders anticipated the outcome of the latest Federal Reserve meeting. However, solid inflation data in the eurozone pushed the euro higher against the greenback. The Federal Open Market Committee will begin a meeting that will last two days tomorrow. Policymakers will decide whether adjustments to the monetary policy are required to maintain the health of the US […]
Read moreThe euro was relatively strong against its major rivals today. The inflation data released during the current trading session, being rather positive, did not give the currency a reason to reverse its trend. The eurozone consumer inflation in August was finalized at 1.5%, up from 1.3% in July. It was the same as in the preliminary estimate and the median forecast. The euro continued to rise after the data, but the currency may yet be […]
Read moreThe euro was relatively strong against its major rivals today. The inflation data released during the current trading session, being rather positive, did not give the currency a reason to reverse its trend. The eurozone consumer inflation in August was finalized at 1.5%, up from 1.3% in July. It was the same as in the preliminary estimate and the median forecast. The euro continued to rise after the data, but the currency may yet be […]
Read moreThe Great Britain retreated versus the euro today after six consecutive sessions of gains. The currency remained stable against the US dollar and continued to rally versus the Japanese yen. The Bank of England surprised market participants last week, signaling that an interest rate hike may be near. Now, traders wait for the speech of BoE Governor Mark Carney in Washington scheduled for 15:00 GMT today, hoping to hear additional information about […]
Read moreThe Great Britain retreated versus the euro today after six consecutive sessions of gains. The currency remained stable against the US dollar and continued to rally versus the Japanese yen. The Bank of England surprised market participants last week, signaling that an interest rate hike may be near. Now, traders wait for the speech of BoE Governor Mark Carney in Washington scheduled for 15:00 GMT today, hoping to hear additional information about […]
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