EURUSD: Immediate levels to watch 4/06/2018

The EURUSD pair now appears to be in a minor range for now as the pair was unable to move in any clear direction last Friday after the release of the U.S Non-Farm Payroll data.

The main focus this week will be E.U Gross Domestic Product GDP data due on Thursday on the macroeconomic calendar.

To the upside, the 1.1755 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1822 area. A strong break below the 1.15960 area will signal a bearish move of the pair to the 1.1518 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

EURUSD: More Correction Expected. Immediate levels to watch 1/06/2018

The EURUSD pair continued it’s ascent bid at the 1.16610 area and rose for about 60 pips, to the 1.17240 resistance area at a distance well above the 4hr 20MA with market price closing 30pips below the day’s high. Price is expected to bounce further at the current level.

The main focus today will be the U.S Nonfarm Payroll data on the macroeconomic calendar.

To the upside, the 1.1755 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1822area. A strong break below the 1.15960 area will signal a bearish move of the pair to the 1.1518 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

EURUSD: More Correction Expected. Immediate levels to watch 31/05/2018

The EURUSD pair found a solid bid at the 1.1518 area and gained about 130 pips, where we have the 1.1675 resistance area well above the 4hr 20MA with market price closing at the day’s high. Price is expected to bounce further at the current level.

The main focus today will be E.U CPI data, and U.S Core Personal Consumption Expenditures data while the U.S Nonfarm Payroll data will be released tomorrow on the macroeconomic calendar.

To the upside, the 1.1755 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1822area. A strong break below the 1.15960 area will signal a bearish move of the pair to the 1.1518 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

 

 

EURUSD: Immediate levels to watch 30/05/2018

The EURUSD pair broke the 1.15960 support and the 1.1554 (November 2017 low) support area today as shown on the 4hr chart. The fall of the currency pair was however cut short at the 1.15088 support area just a little above the 1.1500 psychology area. Technically, Bulls are expected to step in here if tomorrow’s data turns up in favour of the currency pair.

The main focus will be the German Harmonized Index of Consumer Prices data, and U.S GDP and Core Personal Consumption Expenditures data coming up tomorrow Wednesday 30th, May 2018 on the macroeconomic calendar.

To the upside, the 1.15960 area is to be watched as a strong break above this will signal a bullish correction of the pair to the 1.1670 area. A strong break below the 1.1500 area will signal a bearish move of the pair to the 1.14750 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

EURUSD: Immediate levels to watch 29/05/2018

The EURUSD pair broke the 1.1645 support area and went further down south as shown on the 4hr chart. The fall of the currency pair was however stopped at the 1.1605 strong support area.

The main focus will be the German Harmonized Index of Consumer Prices data, and U.S GDP and Core Personal Consumption Expenditures data due on Wednesday on the macroeconomic calendar.

To the upside, the 1.1670 area is to be watched as a strong break above this will signal a bullish correction of the pair to the 1.1755 area. A strong break below the 1.15960 area will signal a bearish move of the pair to the 1.1554 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

 

EURUSD: Immediate levels to watch 28/05/2018

The EURUSD pair broke the 1.1670 support area and went further down south as shown on the 4hr chart. The fall of the currency pair was however stopped at the 1.1645 strong support area.

The economic calendar is light today. The main focus will be the German Harmonized Index of Consumer Prices data, and U.S GDP and Core Personal Consumption Expenditures data due on Wednesday on the macroeconomic calendar.

To the upside, the 1.1755 area is to be watched as a strong break above this will signal a bullish correction of the pair to the 1.1822 area. A strong break below the 1.1645 area will signal a bearish move of the pair to the 1.1605 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

EURUSD: More Correction Expected. Immediate levels to watch 25/05/2018

The EURUSD pair rose to the 1.1748 resistance area where we have the 4hr 20MA earlier today before reversing part of the day’s gain as shown in the chart below. Price is expected to bounce further at the current level.

The main focus today will be the U.S Fed’s Powell speech on the macroeconomic calendar.

To the upside, the 1.1755 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1822area. A strong break below the 1.1670 area will signal a bearish move of the pair to the 1.1610 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

EURUSD: Oversold. Immediate levels to watch 24/05/2018

The EURUSD pair broke the 1.17225 support area and went further down south as shown on the 4hr chart. The fall of the currency pair was however cut short at the 1.1675 strong support area and buyers pushed the price up to the 1.1709 area.

The main focus will be the ECB Monetary Policy Meeting Accounts data due on tomorrow on the macroeconomic calendar.

To the upside, the 1.1755 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1890 area. A strong break below the 1.1670 area will signal a bearish move of the pair to the 1.1610 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

EURUSD: More Correction Expected. Immediate levels to watch 23/05/2018

The EURUSD pair rose to the 1.1822 resistance area earlier today before reversing the day’s gain but found support on the 4hr 20MA at the 1.1780 area as shown in the chart below. Price is expected to bounce at the current support level.

The main focus will be the U.S FOMC Minutes coming up later today Wednesday, followed by the ECB Monetary Policy Meeting Accounts data due on Thursday on the macroeconomic calendar.

To the upside, the 1.1890 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1995 area. A strong break below the 1.17225 area will signal a bearish move of the pair to the 1.1670 area.

Caution: You should understand that there is a high level of risk involved in Forex trading. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in forex trading very well before you execute your trade decision).

The Price Interest Point (PIP)

A pip is the standardized unit amount of price movement or change in the rate of a currency pair in forex trading. It measures price movement just like weight is measured in gram or kilogram. Pip is generally used by Forex Traders to reference profit or loss.

Major currency pairs that are displayed to 5 decimal places have 1 pip = 0.00010. Yen-based pairs are displayed to 3 decimal places, 1 pip = 0.010

Take EURUSD for example, when the price is at 1.30258, an increase of price to 1.30268 will equal to 1 pip move. A decrease from 1.30258 to 1.30248 is also 1 pip move downwards. The pip movement count is measured at the 0.00058 decimal mark.

When EURUSD price is at 1.30258, and it moves to 1.30458, that will be +20pips movement and if price drops from 1.30258 to 1.30058 that will be -20 pips price movement.

Take USDJPY for example, when the price is at 110.586, an increase of price to 110.596 will equal to +1 pip change. A decrease from 110.586 to 110.576 is also -1 pip move downwards. The pip movement count is measured at the 0.076 decimal mark.