How to use the Forex Market Time Converter.
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Forex Education Educational Videos Learn how to trade forex with educational videos tailored to your skill and experience level. FreedFx has made an all-time profit of Only a breach below of 1. However if selling appears to be solid a break of 1. Nevertheless if sideways movements continue then we would be sticking on the levels instated. The levels of around 1. We keep our bias on the upside. Brokers said reports of less than average monsoon rains this season might hamper efforts to boost economy and hurt company earnings this quarter impacted the market sentiment.
The gap down open in the market has definitely enabled the sellers to prompt their activities considering we had yet other depressing FOMC minutes where no sign of QE was provided. This shifted the mindset of traders which now in turn are in selling activities. The immediate resistance comes in at levels followed by levels on the rising trend line former support and now resistance. Expect selling pressure to remain at higher levels unless we have a fundamental trigger which makes the price action to close above levels, would negate the bearish bias.
The Indian Rupee extended losses on Monday falling to its lowest levels in almost a week led by weak cues across the Asian and European stocks markets and post the acute drop in the Euro on Friday which slipped to its two year lows below the 1.
Broad weakness in the domestic stock markets also put pressure on the local currency which finished with a loss of a percentage yesterday. It seems even though a slight positive reaction in the European currencies did not aid any boost to risk appetite neither towards appreciation to INR value.
We therefore require a more of a fundamental trigger that would enable an upside in the same. This has inflamed economic concerns that has actually paved for equity markets to trade lower and thus has indeed choked on Indian equities forcing them to par their mild gains that has been incurred in the previous week.
The rate cut by ECB and China has been factored in last week, but what keeps pressure going on the equity markets too trade in the negative would be the deprecating value of the home currency and moreover with oil prices shooting back are providing concerns on the debt factors in the economy.
However the monsoon climate could have provided some sort of respite in an otherwise bear market conditions. Supports at , followed by
So why is there a high uncertainty in the market today…awaiting for results on the meeting? CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Ready to Trade Forex? The immediate resistance comes in at levels followed by levels on the rising trend line former support and now resistance.