Astrofxc – AstroFX 2.0 Courses

Astrofxc – AstroFX 2.0 Courses

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AstroFX Forex course-Technical Analysis

By Shaun Powell and Aman Natt

What exactly is meant by fundamentals?

Every day the markets see the release of important pieces of economic data.

Be it the BOE (Bank of England) regarding Inflation or Job’s Numbers, the FED minutes, or US CPI or Manufacturing Numbers and Eurozone interest rates etc. This is what we call ‘macroeconomic’ data. And these data releases impact price action, both long term and short term.

Fundamental announcements are a vital part of trading Forex, stocks and pretty much all markets. They help to move the Markets along faster, creating huge liquidity in short periods of time. They also create a lot of volatility, this combined with liquidity can be taken advantage of. The general consensus is and always has been the ‘Markets will follow the economic numbers’.

In Forex, fundamentals mean we are basically pitting one Economy against another.

USA V Great Britain, Australia V Japan, Switzerland V USA, New Zealand V Australia.

Let’s break this macroeconomic data down and look to the most important factors that will have the highest impact on the markets/particular currency crosses.

Interest rates – Higher interest rates cause a Currency to appreciate in value due to an increase in investment under higher interest rate climates. However, a stronger currency has it’s own issues, it will make exports more expensive and higher interest rates also make the cost of borrowing more expensive.

Lower interest rates-Cause a currency to de-value, there is less investment, due to the lower rate of return. Interest rates drive the flow of money, which is the very back bone of the FX markets.

Manufacturing data- This is a strong indicator for industrialised countries.

It is Bullish if the No’s are higher than expected, and Bearish if the No’s are lower than expected.

Employment Data- Higher employment No’s will be Bullish for that currency as lower employment will be Bearish for a currency. Inflation and consumer confidence, higher inflation and higher consumer confidence is a positive economic signal and therefore has a Bullish effect on a currency. Yet again, weaker Inflation and consumer confidence is a Bearish signal for a currency.

The Double Top and Bottom:

One of the most common chart patterns in trading is the double top/bottom. This pattern appears so frequently on the charts that it alone could easily serve as evidence that price action is not as wildly random as many claim. As mentioned previously, one way to look at price charts is that they are simply an expression of the overall sum of traders sentiment/bias.

The double top/bottom in particular represent a re-testing of temporary lows and highs also known as support and resistance.

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