A slower start to the week - major currencies gapped lower at the open but then mostly recovered. Canadian dollar retraced 50 pips of the last week's 260-pip rally. Technicals, trade concerns and falling oil prices should keep USD/CAD supported ahead of OPEC meetings and CPI / Retail Sales combo at the end of the week.
Community Blog
USD/JPY opens the week on a firm note
Over the weekend there were some positive developments/rhetorics with regard to North Korea denuclearization. USD/JPY liked it, gapped up at the open and went on to the highest level since February. Not much of a move pip-wise but volatility in this pair has been dwindling recently. Volatility invariably expands after such periods, the only question is in which direction. 107.5 is the initial support with stronger one at 50 DMA. 108 is the immediate resistance with 100 DMA a potential target.
USD/JPY gaps up as PM Abe wins election
Japanese voters supported current PM Abe on the weekend. That means at least a couple more years of Abenomics, even though BOJ governor Kuroda may not be selected for the second term next year. Stocks liked this and yen was sold.
At least initially. USD/JPY gapped 30 pips at the open and extended that by about 25 pips but it was backing a filling from there. A late round of risk aversion took the pair down to the 113.25 support, from where it bounced. 114 is the the first stronger resistance.
At least initially. USD/JPY gapped 30 pips at the open and extended that by about 25 pips but it was backing a filling from there. A late round of risk aversion took the pair down to the 113.25 support, from where it bounced. 114 is the the first stronger resistance.
EURo opens lower after German election
German election concluded largely as expected. Angela Merkel will serve her fourth terms as Chancellor, however, her party (CDU) will have to seek coalition partners. In addition, a far-right party (AfD) will be represented in parliament for the first time since WW2.
EUR/USD didn't like it and opened with about 50-pip gap lower. The gap was closed by the end of the Asian session but the pair headed back towards the lows as Europe opened for business. 1.18 - 1.185 is the current range support and…
EUR/USD didn't like it and opened with about 50-pip gap lower. The gap was closed by the end of the Asian session but the pair headed back towards the lows as Europe opened for business. 1.18 - 1.185 is the current range support and…
USD/JPY falls after North Korea tested H-bomb
Yesterday North Korea successfully tested a hidrogen bomb and U.S. responded that any threat to them or its territories or allies will be met with a massive military response. That's clearly an escalation but won't morph into something bigger because I don't see how that could benefit anyone.
Risk pairs, including USD/JPY, opened the week with a big gap lower. Half of the gap has already been closed but the pair stalled ahead of 110. If it continues, 110.4 could be the next stop. 109.5 is the in…
Risk pairs, including USD/JPY, opened the week with a big gap lower. Half of the gap has already been closed but the pair stalled ahead of 110. If it continues, 110.4 could be the next stop. 109.5 is the in…
Cable plunges as PM May fails to secure majority
British pound has been in focus in the last day or two but definitely since exit poll correctly implied what in the U.K. is called a hung parliament. Instead of strengthening her hand, as she hoped, PM Theresa May will instead need to form a coalition government.
Cable gapped about 200 pips lower immediately after the release and extended the decline to more than 300 pips by the time London opened for business. The pair has been basically trading sideways ever since the gap but in a volatile fas…
Cable gapped about 200 pips lower immediately after the release and extended the decline to more than 300 pips by the time London opened for business. The pair has been basically trading sideways ever since the gap but in a volatile fas…
EURo gaps higher on French election results
Emmanuel Macron (23.9%) and Marine Le Pen (21.4%) are the winners of the first round of the French presidental election. Pollsters did a good job this time around with the results coming in largely as expected. Euro gapped higher overnight as Macron victory remains the most likely scenario.
The pair traded above 1.0930 in pre-market and opened just above 1.09, that's about 180 pips from Friday closing levels. EUR/JPY gap was even more impressive, close to 380 pips. Latest polls suggest Macron's …
The pair traded above 1.0930 in pre-market and opened just above 1.09, that's about 180 pips from Friday closing levels. EUR/JPY gap was even more impressive, close to 380 pips. Latest polls suggest Macron's …
A relatively calm open
Currencies opened with significantly smaller gaps today than one week ago. Notably, Aussie opened about 50 pips lower due to election uncertainty with a possiblity of a hung parliament.
Huge moves on the Brexit day were followed by a much calmer than expected trading week. With the U.K. in no hurry to exit the E.U., market focus shall now turn back to economic data and central banks.
Huge moves on the Brexit day were followed by a much calmer than expected trading week. With the U.K. in no hurry to exit the E.U., market focus shall now turn back to economic data and central banks.
28 April ,,GBPNZD Fill the Gap
Good Morning Duka traders
i m with buying Pound today according to filling the gap what ever take a time . it s so strong one Gap in chart 5M time frame ,. and it s a huge ration for winning more than 200Pip with a littel stop lose
good luck for all and best wishes
greeting from cairo
i m with buying Pound today according to filling the gap what ever take a time . it s so strong one Gap in chart 5M time frame ,. and it s a huge ration for winning more than 200Pip with a littel stop lose
good luck for all and best wishes
greeting from cairo
Trading results
Hi friends! Today due to gap I've been forced to close my positions and will present you my results.
GBP/USD GBP was not an exception I quit from the position as soon I got acces to the market. And as we see it worked out Result +142 pips.
USD/JPY Here was not so. I shifted my SL to +10 pips, and priced reached it, afterward it reversed and continued raising.
AUD/USD
Same with AUD, i shifted my SL to +10 pips, price reached it and continued UP trend. instead of my forecast for…
GBP/USD GBP was not an exception I quit from the position as soon I got acces to the market. And as we see it worked out Result +142 pips.
USD/JPY Here was not so. I shifted my SL to +10 pips, and priced reached it, afterward it reversed and continued raising.
AUD/USD
Same with AUD, i shifted my SL to +10 pips, price reached it and continued UP trend. instead of my forecast for…