It was only a matter of time really that the Dollar would loose it gains on the Yen. We were a couple of us in the team that got a reason to celebrate. The times of increasing worry and fear on the market is of course not something to be happy about. A small comfort in it is it’s predictiveness though. It suits us binary traders.
Dollar pressured ahead of Trump-Xi summit, North Korea concerns| Reuters
TOKYO The dollar lost its grip on earlier gains against the yen on Wednesday, remaining under pressure after North Korea fired a ballistic missile into the sea ahead of a summit between U.S. and Chinese leaders.
Pyongyang’s test-fire came just a day before U.S. President Donald Trump and his Chinese counterpart Xi Jinping meet for talks on economic and security issues, and will include persuading North Korea to curb its arms development.
Though the perceived safe-haven Japanese currency tends to gain in times of geopolitical tension or risk aversion, the dollar got some help from Japanese importers on a “gotobi” date – the fifth day of the month and dates that are multiple of five- on which accounts are traditionally settled.
“Today, there is real demand for the dollar, on ‘gotobi,’ so its downside should be limited,” said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo.
But the concerns about the upcoming China-U.S. summit undermined the greenback, which is also under pressure from rising speculation that Trump will face challenges implementing his promised growth-boosting policies in the wake of his administration’s failure to pass healthcare reform. read more at reuters.com
We really like webinars ourselves and try to recommend as often as we run across something new or having a good experience.
Forex Education: How Do You Begin Counting Elliott Waves? – Nasdaq.com
In this webinar recording from March 21, we answered one of the most common question I am asked. “How do I know where to begin counting waves using Elliott Wave Theory.”
It is a good question and much like one would put a 500-piece jigsaw puzzle together is how you can begin counting with Elliott Wave.
When putting a jigsaw puzzle together, I am looking for recognizable patterns and pieces that seem to fit in or near that pattern. For example, if it is a puzzle picture of an old barn out in the field, I am going to look for those pieces that seem to be connected with the barn.
We will apply that same concept to Elliott Wave. Look for recognizable patterns that help provide clues to identifying good chances at good risk to reward ratio trades. Here are the three patterns discussed in the video that I will search for to help start the analysis. read more at nasdaq.com
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