
In this video we’ll go through the key topics for Forex trading. You will learn what’s happening to the major currencies and get ready for trading during the new week.
A new round of US sanctions applied on Iranian financial activities and oil supply on November 5 did not affect Turkey – the closest Iranian partner. The reason for it lies in a special exemption made by White House to allow Turkey to continue purchasing Iranian oil. As a result, the Turkish lira was supported at the beginning of November, however, the overall economic situation for Turkey is affecting the Turkish currency negatively. The level of consumer inflation released on November 5 hit 25% - the highest level in 15 years. That is why the finance minister Berat Albayrak announced a consumer tax cut, which was assessed as “credit negative” by Moody’s.
For now, USD is trading against lira near the 5.4177 Pivot with a very low trade volume. The future direction of the pair depends on the further measures applied by the Turkish government. The strong USD will push the pair towards the resistance at 5.55. However, if lira is supported, the pair will cross the support at 5.4177. We recommend you to follow the release of Turkish retail sales on November 19.
In this video we’ll go through the key topics for Forex trading. You will learn what’s happening to the major currencies and get ready for trading during the new week.
It seems that August is going to be a very interesting and eventful month, and traders will have a lot of profit opportunities…
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
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