Are you skeptical of the amount of losses that can be incurred when you are dealing in the field of Forex? Forex is one of those investment opportunities that promise a lot of money, however, you cannot be ignorant of the fact that the odds of facing losses are tremendously high too.
Sometimes, it may so happen that you are facing huge losses and in such cases, you will have to find the right investment options that can turn out to be useful for you. Some people tend to choose “stop loss” methods of trading as a means to keep their losses in check.
However, before you do so, you need to check out the importance of stop loss in trading as it will give you a clear idea of how this market truly operates. There are a lot of different methods of keeping the risk in check and sometimes stop loss method may not work too. Hence, Forex is not “get lucky tonight” form of investment. If you are looking to make a living out of Forex, you have to weigh a lot of different factors before you can come down to any feasible choice.
There are so many details that you need to be familiar with and it is crucial to measure the risk prior to making any investment. Those who choose to ignore the risks involved in Forex end up facing the highest amount of losses. Try and follow a systematic method of deciding the right transaction details because when you have set the right foundation, the odds of making money from Forex will definitely improve. Choosing the services of an expert is likely to be of help too because they will help you spot some of the best currencies that are ideal for your investment needs and purposes.
The first “set of advice” for businesses in the case of hard Brexit were published yesterday! They were published by UK Brexit secretary Dominik Raab. The “set of advice” contain notes for more red tape for UK businesses and higher prices. Also, imply that many of the problems created by a no deal Brexit may be beyond the UK government’s powers to fix. Warning that leaving without a deal would have “large fiscal consequences” was also repeated by Chancellor of the Ex-Chequers Philip Hammond.
GBP/USD dropped breaking 1.2825 support line. The pair may prove sensitive to Fed’s Chairman Powell’s speech today. We could see it breaking the 1.2770 support line and aim for the 1.2725 support level. On the other side, we could see it breaking the 1.2825 resistance line and aim for the 1.2895 resistance hurdle.
After two days, US-Sino trade negotiations is finished and it looks like there wont be any main breakthrough. We can expect a new round of US tariffs for about $16 billion of Chinese products.
Fed’s Chairman Powell will speak and we can expect of him to defend the Fed’s current rate hike path. The speech’s title is to be “Monetary Policy in a changing economy”. This even could effectively raise the US dollar’s value with adverse effects. On Powell’s speak we can also expect the low unemployment as well as the accelerating inflation and GDP growth rates in order to argue for the economic situation. Also, we can expect comments about the international trading relationships and their effects on the US economy.
EUR/USD moved sideways with some bearish tendencies, testing the 1.1537 support line. If the pair come under selling interest we could see it breaking the 1.1537 support line and aim for the 1.1482 support barrier. On the other side, we could see it rising and aiming if not breaking the 1.1623 resistance line.