Traders who pay attention to more “exotic” currencies such as the Turkish Lira will remember the summer of 2018, when the currency weakened dramatically and sometimes fell by as much as approximately 15% in a single day!
The U.S. Federal Reserve weakened the greenback yesterday as they reduced their projected interest rate increases to zero over 2019 and only a single hike in 2020.
A couple of years ago, I compared a couple of back tests: both were of trend trading strategies, but one waited for the price to make a 1-day low against the trend, while the other applied positive momentum in the direction of the trend with the entry being triggered only upon a minimum 8-hour high price.
As the law stands, the U.K. will leave the European Union at 11pm on 29th March – just 12 days away – with no deal.
When I first tried trading Forex several years ago, using a demo account, I thought it wouldn’t be very difficult.
The British Pound remains the big story in the market today, with the British Parliament voting for a second time to reject the European Union’s proffered divorce deal on Tuesday only 15 days ahead of its scheduled departure.
A few words on what’s going on with the market right now as we approach the start of a new trading week.
The Euro fell to retest long-term lows against the U.S. Dollar after the European Central Bank managed to spring a small but significant dovish surprise on the market in its monthly guidance earlier today.