Check out this week's Forex Forecast - Trading
in Forex / CFD trading is highly likely to depend mostly upon, and not on the exact methods you might use to determine trade entries and exits.
So, when starting the week, it is a good idea to look at the big picture of what is developing in the market as a whole, and how such developments and affected byThere are a few valid long-term trends in the market right now, which might be exploited profitably. Read on to get my weekly analysis below.
after last week saw identical surprise rate hikes by the Reserve Bank of Australia, followed by the Bank of Canada.Another major item is the continuing bull market in stocks, to some extent globally, but particularly in the USA, where the S&P 500 Index reached a 20% gain from its recent low, which is a technical confirmation of a new bull market according to this commonly used metric. The NASDAQ 100 Index reached this level of gain from its low in May.
The NASDAQ 100 Index closed last week at a new 1-year high, while the boarder S&P 500 Index closed at a 10-month high.Australian GDP – this slowed by even more than expected, seeing a month-on-month increase of 0.2% when 0.3% was expected.US ISM Services PMI came in slightly worse than expected.Canadian Unemployment Rate came in a bit higher than expected, at 5.2% which is meaningfully higher than the rate in the USA.
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