Category: Forex Education - Page 6

Bank for International Settlements (BIS)

Bank International of Payments organization

What is the Bank for International Settlements (BIS)? The Bank for International Settlements, or BIS because of its acronym in English, is an international organization dedicated to stimulating monetary and financial cooperation worldwide. This large entity is often seen as a kind of central bank supervisor. This organism was born in 1930 and is therefore considered the oldest financial institution … Read more

Personal Income and Consumption Index Indicator

by rcanessa

General definition

The Personal Income and Consumption Index is a report from the United States that includes both personal income and consumption expenditures from all sources. This is a monthly figure, which always refers to the two previous months in which the Bureau of Economic Analysis of the Department of Commerce discloses the report.

In this case, the personal income and savings data, which is also covered by the report, provide economists and market analysts an insight into future spending (consumption) trends in the economy of the United States.

Major Economic Indicators for Switzerland and the Swiss Franc (CHF)

by rcanessa

The list of economic indicators shown below is of high relevance for both Switzerland and the Swiss franc (CHF), its current fiat currency, and therefore should be followed carefully by traders and investors who trade with this currency (currency pairs like the USD/CHF and EUR/CHF).

Major Economic Indicators for New Zealand and the New Zealand dollar (NZD)

by rcanessa

The list of economic indicators shown below is of high relevance to New Zealand and therefore for its currency, the New Zealand dollar, and should be followed carefully for traders and investors who trade in this currency. However, is important to take into account that this country does not publish indicators very often.

The Best Forex Daytrading Strategies IV

by rcanessa

In this article we finish the series on daytrading and scalping strategies based exclusively on price action applicable to Forex and other markets, we hope you have liked it.

These strategies are based on the identification of classic price patterns from technical analysis.

You can access the third article in the series at the following link: The Best Forex Daytrading Strategies III

How to use a demo account to learn how to trade?

by rcanessa

In trading, in addition to the opportunity to obtain high benefits at very low costs, one of the main advantages is the availability of tools that allow anyone to learn how to invest without putting their own capital at risk from the start.

These tools are called demo accounts. In this article, we are going to explain how to properly use demo accounts to learn how to trade in the markets before using a real account and risking our money.

A Map of Forex Traders: Where Are the 9.6 Million Online Traders?

by rcanessa

The Forex market has been particularly active since the 1970s. It has become the world’s largest financial market, with an average daily trading volume growing from around 1.2 trillion in 1995 to 5.1 trillion in 2019, according to figures from the Bank for International Settlements.

Although large financial institutions and banks are responsible for a substantial part of the trading volume in this market, modern technology has also made it accessible to a broader customer base. Forex brokers have developed easy-to-use online trading platforms, which have simplified the trading process, and made it available from almost anywhere in the world.

In fact, 9.6 million people worldwide are now online traders – that is, 1 in 781 people.

The Best Forex Daytrading Strategies III

by rcanessa

In this article we will continue with the series of articles on scalping and daytrading strategies based exclusively on Price Action that may be useful for you to trade in Forex, although they can also be adapted to other markets.

These strategies are based on the identification of classic price patterns from technical analysis.

You can access the second article in the series at the following link: The Best Forex Daytrading Strategies II

USD/MXN: Dollar recovers advantage as risky assets falter

by rcanessa

Fears of a second wave of contagion dominate sentiment earlier in the week
USD/MXN is consolidating the correction thanks to the demand for safe-haven assets

After Thursday’s blow to the Mexican peso along with other emerging currencies, risk appetite returned to end the week as two-thirds of Thursday’s losses recovered on Friday, leaving USD/MXN only 3.6% higher in a week dominated by the Fed’s grim recession warning, as Covid-19 cases re-emerge worldwide.

But this week begins with complications for the Mexican peso, which has fallen 2.5% against the US dollar since Friday’s close. Added to the weakness of the peso is the drop in oil prices, with a 4.5% drop in US crude since the start of the new week, as a surprising increase in US inventories gave another blow to the commodity, which has lost $5 a barrel from last week’s highs.

The Rectangle Pattern – Trend continuation chart pattern

by rcanessa

The rectangle is a trend continuation pattern and consists of a price formation in which demand and supply are apparently balanced for a certain period of time. The price moves in a narrow range where it finds a support at the bottom of the rectangle and a resistance at the top of the figure.

Finally, the price ends up breaking out the rectangle range, either through support or resistance. If the previous trend was bullish, then the breakout is most likely to be bullish, but if the previous trend was bearish, the move will most likely be bearish.

However, the rectangle can also be a reversal trend pattern, for example if the previous trend was bullish and the pattern breakout occurs on the downside or when the previous trend was bearish and the price breaks through resistance.

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