Forex Trading Mind

Everyone’s heard about the amazing, meteoric rise in the price of Bitcoin over recent weeks and months.

I’ve written a couple of items lately about how it is hard trading Forex these days- Find out why the markets are quiet here.

Markets were surprised earlier today by higher than expected British inflation data. The annualized rate came in at 3.1%, slightly higher than the expected 3% which was the consensus forecast, and the highest overall in almost 6 years.

The chart below shows the ATR 15 (15-day average of price volatility) for the three major currency pairs, and the average of the three, over the last ten years.

Last Thursday, the U.S. stock market saw a big jump up to new all-time record high prices, as it become clear that President Trump’s tax cut bill was going to pass the U.S. Congress.

After a dull couple of days, markets came to life yesterday as several events of interest to the market came to a climax:

At the end of last week there were four clear trends holding steady over both short and long-term timeframes: EUR/USD, GBP/USD, Crude Oil, and the S&P 500 Index.

When it comes to crypto, its Bitcoin that’s been hogging the headlines lately, as it has advanced from strength to strength ever since it bounced at $3000 when the CEO of JP Morgan tried to talk it down.