Forex Technical Analysis is the interpretation of future market data examining the charts at face value. Most traders use the method of technical analysis to fully understand an investment’s price history.
The Forex Risk Reward Ratio has been in debate since the beginning of time. If you have been trading FX or simply read up about it you would be familiar with the terms used. When it comes down to Risk Reward we have 2 types of traders or strategies.
A good day for the FX traders following Dean’s analysis yesterday and the dollar did wrestle back some of the initiative against most pairs and let’s see what is in store for today’s trading. Retail Sales is the only real event risk today out at 14:30.
The USD managed to regain some poise and there was a flattening out against a number of FX pairs.
Dean grappling with a great deal of news flow all around the World and has forgotten one of his golden rules … trade what is in front of you!
We very pleased to wish all the Women of the South Africa a very Happy Women’s Day and I would like to thank you for everything you do for us and the massive contribution you make in our lives.
Some USD strength returned after the Non-Farm Payrolls on Friday. The number was better than expected with 255k jobs being added against a forecast of 180k. This caused the dollar to strengthen against most FX pairs and some volatility to return to the Forex markets.
A big day today with the Non-Farm Payroll numbers due out at 14:30 SA time. The last two months have yielded big trading days and some shocks but Dean not expecting a shock this time round.
I trust everyone had a good day off yesterday and voted for their party of choice! Elections seem to have slightly strengthened the ZAR with the news of certain parties taking control in certain parts of South Africa.
A good day for Dean yesterday after he chose two FX pairs to have a careful look at. He was looking at shorts in the AUSUSD and longs in the USDCAD. Both yielded about 60 pips and a good start to the trading week.