Weekly Forex Commentary- 11/2/2014

EUR/USD: EUR/USD seems to have resumed the downtrend after hitting resistance at 1.28640-1.28670 level. But it is still at the support level at 1.25200. You need to wait for a price action pattern to form before jumping into this pair. If a breakout happens with a price action pattern in congruence with the downtrend, it may be a good signal to enter the market.     USD/JPY: USD/JPY hit a very big breakout before the close on last Friday but that does not mean you should blindly jump in. although this pair does not show any resistance but price action…
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Forex fundamental and technical analysis

Technical vs Fundamental Analysis

When it comes to analyzing the financial markets, there are two main types of analysis, fundamental analysis and technical analysis. There are up and down sides to both of them and It really depends on your trading strategy and trading mindset what suits you the best. Some traders find technical analysis easier than fundamental while some traders find it otherwise. I am going to explain both of them and you can decide based on your plan of action and trading psychology.   Fundamental analysis: Financial news tends to produce great effects on market fluctuations. The use of financial announcements to…
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