Tradingshop

Tradingshop

Traders of all levels, from beginners to experienced professionals, can fall prey to psychological mistakes that can lead to poor trading decisions and ultimately, losses. Understanding and avoiding these common mistakes is crucial for developing a sound trading strategy and achieving consistent success in the markets. Here are three of the most prevalent trading...

Tradingshop

1. Technical Overview OVERVIEW Today last price 1.2323 Today Daily Change -0.0011 Today Daily Change % -0.09 Today daily open 1.2334 TRENDS Daily SMA20 1.2385 Daily SMA50 1.2252 Daily SMA100 1.2429 Daily SMA200 1.2723 2. Fundamental Overview A combination of diverging factors failed to provide any meaningful impetus to the major and led...

Tradingshop

1. Technical Overview The long upper wicks attached to the previous two daily candles indicate the pair's corrective bounce from Oct. 1's low of 1.0879 has run out of steam near the 21-day moving average (MA). As of writing, the pair is trading around 1.0980 and the 21-day MA is located at 1.0996. The pair will likely find acceptance above the key MA hurdle,...

Tradingshop

GBP/USD advances through 1.2450 amid Brexit pessimism The EU-UK leaders conveyed “no breakthrough” at UNGA. UK Supreme Court to decide whether the UK PM acted unlawfully on the Parliament suspension. 1. Technical Overview Not only 10-day simple moving average (SMA) level of 1.2442, recent high close to 1.2583 also offer strong upside barrier to the pair, which...

Tradingshop

Here is what you need to know on Wednesday, September 18: Tension is mounting ahead of the Federal Reserve decision later today. Economists expect a 25 basis point rate cut amid slowing global growth and investment. On the other hand, rising inflation, upbeat consumer activity, and the trade detente have triggered a rethink of sorts in bond markets – the odds of...

Tradingshop

1. Technical Overview From a technical perspective, nothing seems to have changed much and the pair still needs to decisively breakthrough a near three-month-old descending trend-line resistance in order to increase prospects for any further near-term recovery. Above the mentioned barrier, just ahead of the 1.1100 round-figure mark, the pair seems all set to...

Tradingshop

1. Technical Overview From a technical perspective, the pair has been showing some resilience below 38.2% Fibo. level of the 1.3178-1.1959, clearly suggesting that the near-term bias remains in favour of bullish traders. Hence, a follow-through buying interest has the potential to lift the pair further 50% Fibo. level resistance near the 1.2560-65 region, above...

Tradingshop

Russian law firm Zheleznikov and Partners proposed legal action in Russia that should enable its lawyers to recover up to 200,000 Bitcoin (BTC) lost in the Mt. Gox fiasco. Recover losses on behalf of Mt. Gox victims On Sept. 12 in a Q&A with Andy Pag, a former BBC journalist, the Moscow law firm outlined its proposal to recover close to $2 billion in BTC on...

Tradingshop

The Chicago Mercantile Exchange (CME) Group is petitioning United States regulators to allow its clients to double their open Bitcoin futures positions. Double open positions limit, says CME According to Nasdaq on Sept. 12, CME has already put its plans before the Commodity Futures Trading Commission (CFTC). If successful, each investor would gain a monthly...

Tradingshop

The EUR/USD pair has fallen to a fresh two-year low of 1.0925 this past week, from where it bounced to flirt with the 1.1100 figure. Now trading at around 1.1050, the common currency remains among the weakest of the G-6 complex, holding afloat amid a mixed US Nonfarm Payroll report. Attention now shifts to central banks, with the ECB meeting next week, September...

Tradingshop

The Relative Strength Index on the four-hour chart is below 30 – indicating oversold conditions – and implying a temporary bounce. However, downside momentum prevails and the pair is trading below the 50, 100, and 200 Simple Moving Averages. The daily low of 1.1122 is the immediate line of support and the last defense before the 2019 low of 1.1107. Further down,...

Tradingshop

Cable has just traded at the lowest level since April 2017 as sellers take complete control of the market. In slightly holiday-thinned conditions, GBPUSD fell ahead of today’s UK jobs and wages data, steadied post-release and then fell further with sellers off stop losses on the way down. We noted on Monday that Sterling looked weak and this is now playing out...

Tradingshop

From a technical perspective, the 1.1200 handle coincides with 23.6% Fibo. level of the 1.1570-1.1107 downfall and should now act as a key pivotal point for the pair's near-term trajectory. Sustained weakness below the mentioned support will reinforce the recent bearish bias and turn the pair vulnerable to accelerate the slide further towards the 1.1130-25...

Tradingshop

Since May 27, the single European currency has appreciated about 1.33% in value against the Canadian Dollar. The currency pair tested the 23.60% Fibonacci retracement level at 1.5122. Everything being equal, it is likely that the EUR/CAD exchange rate will continue to gain strength within this week's trading sessions. The potential target will be at 1.5182.

Tradingshop

After the pump, the BTCUSD is stuck at the price zone right below 9000. However, there are no signs that the pump or dump is coming. This is not a good area to buy or LONG BTCUSD because the BTC's price has gone too far too fast. Even so, this is not a selling or SHORT area because no one is selling down in an uptrend, especially when the trend is still strong....

Tradingshop

After the pump, the BTCUSD is stuck at the price zone right below 9000. However, there are no signs that the pump or dump is coming. This is not a good area to buy or LONG BTCUSD because the BTC's price has gone too far too fast. Even so, this is not a selling or SHORT area because no one is selling down in an uptrend, especially when the trend is still...