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.
Something technically significant happened to the U.S. stock market yesterday.