DWYT’s Market overview and Forex Edu series
4 min read
EU Forex market
Mario Draghi, the ECB President, declared that the asset purchase program still has significant capacity. Draghi is well-known as a man who talks down the euro even when Interest rates could drop more. The euro is dropping a 1/3 of 1% against the dollar which is around 50 pips. The stock markets are moving healthily into the green.
On the 4-hour chart from Wednesday, 19/6/2019, we can see a break of the 61.8 fib level. This may submit the downtrend continues but after this a downturn, it wouldn’t be surprising that an early reversal correction may hit the 78.6 fibs, around 1.1150.
Symptoms of trend exhaustion could be attractive.
The bond yield is falling, and the German 10-year running record is low. This trend is continuing from early October last year.
Mario Draghi said that the Eurozone economy would need new expansionary actions if its future growth and inflation forecasts turned out to be just as weak. The ECB is ready to reduce interest rates and resume asset purchases.
The British pound is still suffering due to the possibility of “hard” Brexit. The attitude of financial markets will depend on upcoming economic events. Today, the Bank of England will decide on the interest rate.
US Forex market
The US dollar dropped lightly against the basket of major currencies. It is expected the regulator to hold the interest rate at the current level of 2.25-2.5%. Yet, it is likely that in July the Fed will decrease the interest rate due to the situation in the global economy which shows all signs of weakness. The US dollar index was closed in the negative zone (-0.25) on Wednesday.
US President Donald Trump accused the ECB, and the Chinese government, for the effort to reduce their national currencies to obtain a rival advantage over the US.
Many people are asking themselves is Forex market a scam. We provide you the answer from a professional trader.
The Forex market isn’t a scam it is an important part of our lives
Many people are asking if Forex is a scam, so it might be a good thing to take a look at this Question.
Currency Trading in itself is not a scam, however, that answer really is too short.
There are some things you really should know.
Forex trading is a way to trade currencies against each other and that in itself is Legit.
This is just a matter of Trading Currency value against each other.
Then there are Brokers who offer you the Platforms to actually Trade.
All I really like to say about that in public is that there really is a reason the FCA regulations are in place.
Once you have opened and funded an account, you are ready to go
… do people think it is a scam.
Many, many Traders lose a lot of money and I do know why.
Most of the time you will get answers like, you really need to work hard, or you have to study until you drop.
But really, where are their credentials?!
And once they are starting to make some money, most blow it by becoming too confident and greedy.
You do not have to be one of them.
As you may have read in the previous post about mentorship, you can skip all the nonsense and go right for the profit.
Unfortunately not many are actually prepared to do what needs to be done and rather stay ignorant and keep on trying to let others think for them.
It’s a waste of your time and money!
There is an incredible amount of information about Trading Forex, but it all starts with you taking action.
What do you want to do, and how would that influence your life?
Will you set up a plan of action? Who will you contact, and what are you prepared to do to reach your goals?
In previous articles, there are already a lot of tips on how to start, and it would take you less than a day to read and understand it.
It will change your life if you take yourself seriously and take action.
I advise you to look for the best info you can gather and make a decision, is this for you or not?
If it’s not, then don’t do anything, but if it is, start making contact and go from there.
There are good people here willing to help you, so why not take advantage of the opportunity presented to you?
You can always decide later if this is a golden opportunity for you or that you have lost faith in the jungle of opinions.
Right now, all the articles you can read here are free, all it takes is a bit of your focus and time to help yourself.
Will you become one of the few percents of people who have read this information, and actually took the help that’s here for you?
Most of you don’t so, let this be a very personal question to you.
Are you the one?
Are you the one of the very few that is ready to go for it?
Are you ready to spend the next 20 years creating something amazing?
Time will pass no matter if you do or don’t. So it really is a matter of you choosing today what you will be tomorrow.
If Forex is not for you, are you already satisfied with the research you have done to base your opinion on?
Will you join the crowd that thinks Forex is a Scam or will you start your plan to change?
I do realize this will take you out of your comfort zone, and not many have the courage to do that, but if you want to change, that’s exactly what you will need to do.
Educate yourself, read the articles, take action.
The bottom line
The forex market is the biggest, most liquid global market with an average daily trading volume exceeding $5 trillion. All the world’s stock markets together can’t even come close to this. The tremendous number of $5 trillion covers the complete global foreign exchange market. But daily trading volume from retail traders makes up between 5-6% of overall volume, or between $300-400 billion. So, you see, there are so many spaces for new traders.
To your success!