Q2 2024 FOREX OUTLOOK

Q2, 2024 FOREX OUTLOOK

Q2, 2024 FOREX OUTLOOK In Q1, 2024 we saw a strong dollar fueled by inflation and increasing global oil prices. In Q2,2024, our forex outlook focuses on DXY, EURGBP and USDCAD as the dollar declines due to profit taking. DXY DXY broke above a key level of supply indicating a bullish momentum. Presently (22.04.2024) we […]

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USDJPY CHART

USDJPY OUTLOOK

USDJPY OUTLOOK On the monthly chart, we have a larger bearish trend. Presently, the price seems to be seeking the unmitigated supply at 156 price handle. Once we have a mitigated supply, we will be looking for sell limit orders targeting the monthly fair value gap and flip zone at 116.5 price handle. On the

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PSYCHOLOGY IN FOREX TRADING

PSYCHOLOGY IN FOREX TRADING

PSYCHOLOGY IN FOREX TRADING FOREX TRADING PSYCHOLOGY Recently, a friend requested I give a talk on forex trading psychology, needless to say it wasn’t necessarily a request. The matter was already decided, I had to assume the responsibility of preparing for the talk. I have spent the better part of January 2024 trying to figure

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DESIRE VS REASON

WHEN DESIRE TRUMPS REASON

WHEN DESIRE TRUMPS REASON When desire trumps reason, disaster ensues. Desire ; a strong feeling of wanting to have something. Reason ; the power or ability of the mind to think, understand, and form judgments logically.  A disaster is an event that results in great harm, damage, or death. Therefore, in summary, if Desire >Reason

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FOREX OUTLOOK 2024

FOREX OUTLOOK 2024

FOREX OUTLOOK 2024 Here are my thoughts on the forex outlook 2024. We have had multiple pairs showing signs of reversal and continuation. I will use supply and demand concepts to analyze where I think the market will head in 2024. GBPUSD On the monthly charts we have a long term bearish scenario. After a

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2024 OIL OUTLOOK

2024 OIL OUTLOOK

2024 OIL OUTLOOK On the monthly charts, we have a consolidation around a strong demand level. On the weekly timeframe, we do not have a clear direction though the market seems to be pushing higher to mitigate inefficiencies at the 107-115 levels. Dropping down to the 4-hour chart, we have a bullish bias targeting 77-90

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LIQUIDITY IN FOREX TRADING

LIQUIDITY IN FOREX TRADING

LIQUIDITY IN FOREX TRADING   Understand that for a trade to occur, there must be two counterparties; a buyer and a seller i.e. for every buyer, there must be a seller and the reverse is true. Liquidity is the ease with which one can convert an asset to cash without losing significant value. For instance,

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USDJPY CHART

FOREX WATCHLIST WEEK 47,2023

FOREX WATCHLIST WEEK 47,2023 As the year draws to a close, we are witnessing major shifts in structure across multiple pairs. Low liquidity is a prevailing phenomenon in Q4, therefore, exercise caution. USDJPY Finally, there are signs of shift in market structure from bullish to bearish. On the 4 hour chart, we have an internal

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