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Nervous market

megajorko Posted 17 July  in #Trader's blog
Greetings traders,
I made a mistake entering the Turkish Lyra as it is too late to trade with this currency as it will be in a hard range from now on.
According to my analysis I suppose that after the EUR/USD has broken the second resistance the pair will continue its bullish momentum at least until Powell's speech.
The weakness of USD was expected due to the ongoing trade wars. So trading must be very cautious now.
Good luck
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Some analysis of the major pair

megajorko Posted 15 July  in #Trader's blog
Hello community friends,
Here is a short analysis of some price levels possible for this week
Based on pivot values if R2 or s2 are broken the price will try to reach the 3's so this means that if that pair goes south and breaks 1.159 than we can test 1.153. On the other hand if it reaches 1.177 and than 1.181 it will probably reach also 1.188. Everything depends on Powel speeches this week and OPEC meeting because euro currently has a very correlative movement to the oil.
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End of the volatile week

megajorko Posted 13 July  in #Trader's blog
Hello traders,
If you think you have seen volatility this week wait for next week. First we'll have CPI readings (currently the most influential fundamental data even before interest rate decisions!) We have some powerful (with high influence impact) speeches of the fed chairman and last but not least the OPEC meeting.
To speak about today I would say only that there was inertial USD strength and end of week profit taking probably leading to euro gains at the end of the day.
I made some small te…
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Happy 4th of July USA

megajorko Posted 4 July  in #Trader's blog
Hello community friends
As we all know today is USA day and this means that the main target of volatility is on vacation so we (outside the USA) can also take day off from trading. But be prepared that tomorrow will come great meeting in place - that of the FOMC (Federal open market committee ) which will decide the interest rate of the Number 1 economy country and of course the Friday's NFP.
Be prepared for strange surprises!
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Beware low liquidity

megajorko Posted 3 July  in #Trader's blog
Greetings community,
Tomorrow is a great holiday for the United States and I like to be more cautions on such moments because there are very strange price movements. Yesterday there was a sharp drop in the euro and today it was nearly compensated. I suppose that the price of the major pair will try to go up and I will probably enter some pro euro trades to test my hypothesis.
Good luck to everyone
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Reverse in USD weakness

megajorko Posted 2 July  in #Trader's blog
The new week/month started with a strange euro weakness. I tried to test some correction momentum but the euro is continuing to decline. There is no fundamental reason currently behind this so sooner or later the euro will return but I will wait for better conditions after the high impact release are announced.
Have a nice and successful week
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The start of the month

megajorko Posted 1 July  in #Trader's blog
Hello traders,
Usually the start of the month is coming with great expectations and everybody is hoping to get to the top positions as fast as possible. I suppose this month will not give a lot of trading opportunities like June because it will be with less liquidity due to a lot of people going to vacations. As always first week will be interesting due to upcoming NFP release but also there will be FOMC meeting which will give a clue on he next interest rate increase. Currently the USD is in so…
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Unexpected disaster

megajorko Posted 30 Jan.  in #Trader's blog
Greetings traders,
After the massive sell off of the pound during the last 2 days it unexpectedly returned all the losses and now as always in forex I got trapped in the inevitable disaster. I am not sure why I made this mistake. I was not paying enough attention to the fundamental releases and still don't understand what exactly happened so that the pound returned 200 pips in half an hour. I suppose this is due to massive profit taking (or the profit taking was the fall of the pound)
Don't worr…
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Minor drawdown

megajorko Posted 23 Jan.  in #Trader's blog
Greetings friends,
The market has always the possibility to make surprises. After yesterdays stubborn uptrend in the pound and downtrend in the yen it suddenly out of nowhere decided to stop its progress and reverse with a lightning fall. I suppose here we'll have some loses and I doubt I could recover this month. I will try to find more information about this unexpected market movements before making any further decision.
I am sorry to my followers but unfortunately on fx nobody is immune to su…
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Federal budget

megajorko Posted 19 Jan.  in #Trader's blog
Greetings friends,
Yesterday there were no surprises and the tight range dominated
The top event is the USA federal budget discussions. This leads to some fears of government problems which could be fatal. This is why we can't see any dollar bulls in the moment and the expectations are all set for Saturday which means two things either there will be huge late Friday surprise or there will be a Monday huge gap opening. I am betting on the second possibility but it is not clear the direction becau…
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