learn-forex.info

* Will still buy forex on days of unusual movements

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For beginner forex traders, the goal is simply to make successful trades. In a market where profits - and losses - can be realized in the blink of an eye, many investors get involved to “try their hand” before thinking long term.

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The Bank of Israel said Monday it will discontinue its program of daily purchases of $100 million in the foreign-exchange market, which began last July.

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That is key to not getting caught in reversals and snap-backs while leveraged at 100-1.

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A strong US Dollar reversal led many of our trend-following trading strategies to close USD-short positions, and indeed the shift has prompted some systems to go long the US currency.

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Until a live U.S. session of cash market trade confirms the futures market momentum, we may need to set very tight targets.

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(Corrects second bullet point from slips to rises)

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The GBP/JPY surged higher during the previous week, driven by the rise in risk appetite, and the British pound may continue to appreciate against the Japanese yen throughout August as market participants anticipate the Bank of England to tighten monetary policy over the next 12 months.

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A strong US Dollar reversal led many of our trend-following trading strategies to close USD-short positions, and indeed the shift has prompted some systems to go long the US currency. Friday’s Nonfarm Payrolls sparked the long-overdue bounce that picked the USD off its lows.

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Friday’s volatility is muted to start the week; but risk appetite and dollar strength are still contradictory trends. What is the most promising event risk for this week?

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