Pound Sterling Loses Momentum

The British pound sterling had a significant dip in price early in the trading day on the morning of Monday, November 28th. The dip was visible against both the euro and the U.S. dollar. After a month of the pound gaining steam against the euro, this hasn’t yet become a major victory for the pound, but it is a step forward for those that desire a strong British currency. The euro had just recently seen its worst week against the pound in almost two years, so this kind of change shouldn’t have been a surprise. However, because of the strength that the ongoing trend had shown, for many it was a rude beginning to their week. […]

December 3rd, 2016|Currency|

Looking at Currency Chains

The U.S. dollar/Canadian dollar cross pair does not receive a ton of attention thanks to the fact that the CAD is not one of the big four currencies. However, thanks to the fact that the U.S. and Canada are neighbors and the currencies are exchanged extremely frequently, watching this pair can give you a very strong idea of what the USD is doing. When you have this data, many other trades, including the EUR/USD, become easier to predict. For example, if you look at the trading day on Wednesday, August 3rd, you can see that the USD gained slightly against the euro. The price dropped to 1.1149, marking a decline of 0.62 percent. In the Forex world, that is a big move over the course of the day. Because this market is so highly trafficked, it is deemed to be highly efficient, and a move of this magnitude is considered pretty strong. […]

August 4th, 2016|Currency|

Jobs Report Relieves Fear

The June employment report was recently released, and the information has helped to relieve the fears that many investors have been experiencing. 287,000 new jobs were added to the U.S. economy last month, which shows remarkable signs of improvement over what was experienced in May. Many investors also showed signs of caution after England voted to leave the European Union. These things coupled together provided for several days of price drops across the world and across different asset markets. It was a good time to be able to sell stocks short or to trade binary options of the put variety, but long term investors were uncertain of how to proceed forward. […]

July 11th, 2016|Currency|

Yen Finds Fresh Momentum

It looks like the Japanese yen is ready to find fresh upward momentum. This comes after the Bank of Japan Governor Haruhiko Kuroda stated that the central bank would need to act decisively in order to keep to its goal of a 2 percent rate of inflation. The usage of many different policy options was also alluded to, indicating that the yen would be buoyed upward at the sake of the stock market. This has driven many Japanese stocks down in price as the Bank of Japan is seeing more favor than the stock market is. This is a common occurrence, and it sets the stage for a strong day of binary options trading if you can detect these things early. One of the great strengths that U.S. traders have is the fact that trading has already occurred for the day in Asia and it’s already well underway in Europe. […]

June 16th, 2016|Currency|

Euro Hits Seven Week High Against Pound

The Forex marketplace is the world’s busiest market, and it only stands to reason that the currencies of the biggest economies in the world will see the most action. The U.S. dollar is the most widely traded, and right after that comes the euro and the British pound. Watching the interaction between the EUR/GBP is interesting right now, particularly because now that the euro has hit its seven week high point, currency analysts believe that this pair is going to stay pretty much flat for the time being. There is a support line right now at the 23.6% Fibonacci expansion point at 0.7158. Resistance occurs at 0.7403, which is the falling trend line. There has been a recent high of 0.7278, which stays well within the range, albeit on the lower side. The 38.2% Fibonacci level of 0.7084 also is relevant, especially if the falling trend line continues to be a downward mover. These are all important price levels to keep your eye on right now. […]

January 6th, 2016|Currency|

Bitcoin’s Wild Ride

The Bitcoin has seen quite a rollercoaster ride over the last few years. Even this year, its price has been swinging wildly. Back in January, the digital currency was worth well under $200. Right now, the price has gone up above $410, with a 70 percent gain over the last month. It’s a fascinating thing to watch, but for those traders that like to make informed decisions, it can be very frustrating, too. The most concerning thing about all of this is that no one is really sure why the price swings have been going on lately. It makes intelligent trading of the asset downright impossible to do. At its most expensive, the Bitcoin topped out at $1,150. Then, with news of online warehouses being hacked into, Bitcoin’s value tumbled. Now, security is seemingly strong, but once again, there is volatility. […]

November 10th, 2015|Currency|