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USD/JPY
Technical Reports
USD/JPY Forecast November 17, 2015, Technical Analysis
The USD/JPY pair broke higher during the course of the session on Monday, as we continue to extend the gains for the US dollar.
Fundamental Reports
USD/JPY Fundamental – November 18, 2015 - Forecast
Analysis and Recommendation: The USD/JPY added 20 points in the morning session as the greenback continued to rally. The yen fell to 123.38 as the pair is trading above its average.
USD/CAD
Technical Reports
USD/CAD Forecast November 17, 2015, Technical Analysis
The USD/CAD pair went back and forth during the course of the session on Monday, ultimately forming a little bit of a shooting star.
Fundamental Reports
USD/CAD Fundamental Analysis – November 17, 2015 - Forecast
Analysis and Recommendations: The USD/CAD gave up 15 points to trade at 1.3306 remaining near the top of its trading range after global commodities fell and the dollar rallied after terrorist effect.
NZD/USD
Technical Reports
NZD/USD Forecast November 17, 2015, Technical Analysis
The NZD/USD pair broke down below the 0.65 handle during the day on Monday, as it appears we are trying to break down. Any bounce from here should require a good attention
Fundamental Reports
NZD/USD Fundamental – November 18, 2015 - Forecast
Analysis and Recommendation: The NZD/USD tumbled 36 points to 0.6458 trading near its lowest level in recent memory after inflation expectations remained at 1.9%. Investors are seeking the safety of the greenback.
GBP/USD
Technical Reports
GBP/USD Forecast November 17, 2015, Technical Analysis
The GBP/USD pair initially fell during the course of the day on Monday, but found enough support at the 1.52 level to turn things back around to form a bit.
Fundamental Reports
GBP/USD Fundamental Analysis – November 17, 2015 - Forecast
Analysis and Recommendations: The GBP/USD dipped 37 points to 1.52 as the US dollar rallied on safe haven traders and Europe and the UK are going through massive terrorist worries.
EUR/USD
Technical Reports
EUR/USD Forecast November 17, 2015, Technical Analysis
The EUR/USD pair initially gapped lower at the open on Monday, mainly as a knee-jerk reaction to the Parisian terror attacks in our opinion. However, we feel that gap.
Technical Analysis EUR/USD for November 17, 2015
The EUR/USD moved lower on Monday despite an uptick in Eurozone inflation. The number were relatively subdued and with Draghi last week warning that there are weakening signs of core.
EUR/USD Mid-Session Technical Analysis for November 16, 2015
Daily EUR/USD Technical Analysis The EUR/USD is trading lower at the mid-session. The Forex pair sold-off shortly after the opening in reaction to the events in Paris over the week-end.
Weekly Technical Outlook: EUR/USD; Market Forecasts for November 16th – November 20th
Resistance level 1.0896, 1.1017, 1.1086 Pivot Level 1.0771 Support Level 1.0709 Technical Analysis EUR/USD is looking for consolidation pattern from 1.0709 levels and is still in progress with strong support holding these levels.
Fundamental Reports
EUR/USD Fundamental Analysis – November 17, 2015 – Forecast
Analysis and Recommendations: The EUR/USD tumbled 43 points even though eurozone inflation printed a bit higher than expected. The terrorist act in Paris has captured the headlines and its effects.
EUR/JPY
Technical Reports
EUR/JPY Forecast November 17, 2015, Technical Analysis
The EUR/JPY pair gapped lower at the open on Monday, and then charged all the way down to the 130.50 level. However, we found enough support there to turn.
Fundamental Reports
EUR/JPY Fundamental – November 18, 2015 - Forecast
Analysis and Recommendations: The EUR/JPY dipped 5 points to 131.57 as the euro and the yen traded on a weak note. Japan’s economy shrank again in the third quarter.
EUR/GBP
Technical Reports
EUR/GBP Forecast November 17, 2015, Technical Analysis
The EUR/GBP pair gapped lower at the open on Monday, and then fill that gap, only to turn back around and form a fairly negative candle.
The Best Trading Opportunity Today - EUR/GBP - November 16, 2015
The EUR/GBP broke shortly after the opening in reaction to heightened geopolitical events due to the attacks in Paris on Friday. The selling pressure was strong enough to take out.
Fundamental Reports
EUR/GBP Fundamental Analysis – November 17, 2015 – Forecast
Analysis and Recommendations: The EUR/GBP dipped 11 points as the euro got hit hard after France closed its borders after Friday night’s massive terror attacks. The pound declined a bit in sympathy.
AUD/USD
Technical Reports
AUD/USD Forecast November 17, 2015, Technical Analysis
The AUD/USD pair fell a bit during the course of the session on Monday, as we continue to see weakness in the Australian dollar overall.
AUD/USD Forex Technical Analysis – November 16, 2015 Forecast
The AUD/USD finished slightly lower on Friday, but higher for the week. Last week’s price action was driven by technically oversold conditions and a stronger than expected Australian labor report.
Fundamental Reports
AUD/USD Fundamental – November 18, 2015 - Forecast
Analysis and Recommendation: The AUD/USD dipped another 13 points to trade at 0.7084 as the US dollar continued to rally as a safe haven although markets remain a calmer than expected.
Silver
Technical Reports
Silver Forecast November 17, 2015, Technical Analysis
Silver markets initially tried to rally at the open on Monday, but struggled at the $14.50 level to end up falling and form a shooting star again.
Crude Oil
Technical Reports
Technical Analysis Crude Oil for November 17, 2015
Crude oil prices rebounded on Monday after testing the November lows at 40 per barrel early in the North American trading session. Prices have been under pressure and Friday’s announcement.
Gold
Technical Reports
Gold Prices November 17, 2015, Technical Analysis
Gold markets initially tried to rally on Monday, but struggled at the $1100 level. This was probably a knee-jerk reaction to the attacks in Paris.
Technical Analysis Gold for November 17, 2015
Gold prices whipsawed on Monday. The initial reaction to the terrorist attached in Paris was to bid up the yellow metal. Traders pushed prices up to the 10-day moving average.
Comex Gold Futures (GC) Technical Analysis – November 16, 2015 Forecast
Safe-haven bids helped drive December Comex Gold futures nearly 1 percent in early trading on Monday. The move was fueled by investors looking for safety following Friday’s deadly attacks.
Fundamental Reports
Precious Metals Fundamental Analysis – November 17, 2015 – Forecast - Gold, Silver & Platinum
Analysis and Recommendations: Gold gained a bit over $10 but gave back some of its initial gains as markets seemed to remain unstressed over the terrorist acts in France.
Brent Oil
Technical Reports
Crude Oil Forecast November 17, 2015, Technical Analysis
Light Sweet Crude The light sweet crude market went back and forth during the course of the day on Monday, testing the $40 level for support.
Fundamental Reports
Crude & Brent Oil Fundamental Analysis – November 17, 2015 - Forecast
Analysis and Recommendations: Crude Oil gained 38 cents to trade at 41.12 giving back some of its early morning gains as markets seem to be less panicked than expected.
Natural Gas
Technical Reports
Natural Gas Forecast November 17, 2015, Technical Analysis
The natural gas markets initially gapped higher at the open on Monday, but turned back around to fall and test which should now be support.
Technical Analysis Natural Gas for November 17, 2015
Natural gas prices whipsawed on Monday. After initially moving higher in the wake of the Paris attacks, prices moved lower but closed up on the session.
Fundamental Reports
Natural Gas Fundamental Analysis – November 17, 2015 - Forecast
Analysis and Recommendations: Natural Gas soared 67 points to 2.428 after a delayed inventory report on Friday and colder winter weather slowly arriving in the Northeast.
There were a group of traders nicknamed “the turtles” who were taught by trading legend Richard Dennis and the only thing they had in common was – they had never traded before. After 14 days they started to trade and made millions but how do they do it?
First let’s look at the background to the experiment.
Richard Dennis believed that everything about trading could be specifically learned and his partner Richard Erkhard disagreed, so Dennis set out to prove his point.
He collected a diverse group together – of all ages, both sexes and varying levels of education. The group contained a Boy fresh from school, a female auditor, a security guard an actor and a couple of professional card players, to name a few.
Dennis then set about teaching them a simple method and the discipline to trade the method. After 14 days they were all set to trade and they started and made him over $100 million dollars and many of them still trade today.
So what was their secret?
The answer is Dennis taught them a simple method but he taught them to have confidence in what they were doing so they would have the discipline to follow their method through periods of losses to achieve long term forex trading success.
What can you learn from the turtles?
The first point is anyone can learn to trade, if they have the right forex education, as forex trading is a learned skill.
Secondly, your method does not need to be complicated – but you need to have confidence in it. Trading is as much in the mind as it is in your method.
If you keep your method simple, you are more likely to understand it and be able to execute it with discipline furthermore, a simple method will tend to work better than a complicated one in the brutal world of trading, as there are fewer elements to break.
One of the keys to the turtles success was their money management techniques. This is a neglected area for many forex traders and most do it simply as an after thought. If you want to win at forex trading, you need to operate a rigorous and well thought out money management plan.
Could you be successful?
Yes – anyone can, you may not be as successful as the group above – but you can achieve currency trading success as it’s a learned skill.
Today, many traders think they can simply buy success and there is a huge industry in selling systems with simulated track records that greedy traders buy and of course they don’t win.
You don’t buy success for a few hundred dollars and no effort!
Not only are most of the trading systems junk – but any trader must learn that success comes from within.
Having a successful method is essential – but so to is having the confidence and discipline to follow it – if you don’t have discipline to follow your method you don’t have one at all.
Dennis made sure when he taught them that they understood what they were doing so they could have confidence and discipline to follow their plan.
In forex trading mindset is just as important as knowledge.
Forex trading is not a walk in the park and you wouldn’t expect it to be, with the rewards on offer but if you have a desire to succeed and you a willingness to acquire the right knowledge and adopt the right mindset you can win.
Forex trading offers limitless opportunities for those traders willing to put in the time and effort to learn a method they can have confidence in and follow with discipline.
Sounds simple?
In essence it is – but you must accept you are in charge of your own financial destiny and you must work smart to win.
Understand the above and you can enjoy currency trading success.
