Forex Trading Mind

So, very soon this endless torture is going to be over and we can all get on with talking about something else. Unless, that is, a nightmare scenario like 2000 arises where the result hinges on a handful of disputed votes. This is unlikely, and though I blow my own trumpet (no pun intended) for

In recent weeks I have written a

This week in the markets is all about a lot of fundamental economic data and input from key central banks. We did not have anything scheduled for Monday, but during the Asian session that just passed, we got some facts from three crucial Asian economies.

If you want to be a successful trader, it is important and probably inevitable that you will learn Japanese candlestick patterns. These can be composed from anything to a single candle to a

The British Pound fell like a stone a couple of weeks ago, when British Prime Minister Theresa May announced that her Government would seek to trigger article 50 of the Lisbon treaty during the early part of next year. This would begin the 2-year legal process of Britain’s withdrawal from the European Union and the re-emergence of the United Kingdom as a truly sovereign and independent state.

Yesterday we got the big event of this week’s Forex calendar: the release of the minutes of September’s meeting of the FOMC. The FOMC is the committee of the U.S. Federal Reserve (the central bank) which decides upon the interest rate. The minutes of its monthly meeting, released a few weeks after the fact, provide insight into the minds of the committee’s members regarding monetary policy, and also record the vote taken regarding whether to raise, lower or leave the interest rate unchanged.

The USD continues to strengthen. It has spent most of the past two years consolidating, and there is a lot of speculation that it is finally coiling up for a directional move.

Last Friday, around about the time that Tokyo opened for business, the British Pound plummeted dramatically in less than three minutes, recovering quickly by about 70% of its fall over the subsequent four minutes. The maximum fall was by approximately 700 pips, or a change of 5.5% in value, in the key benchmark GBP/USD currency pair.