Major currencies are traded most frequently in the Forex market and that, generally,are listed with the US dollar. In this case, the US dollar is the base currency. Spreadshere are tight and there is a high liquidity, which offers excellent opportunities to short, medium and long term trading. It is important to highlight that older FX represent more than two-thirds of the total volume estimated at Forex market.
Minor currencies are those negotiated with a lower frequency. These instruments usually have less liquidity although they remain very common in financial markets. Here the US dollar is not usually the base currency as with major currencies.
Exotic currencies are those currencies which is not usual to negotiate or that come from emerging markets. This kind of currency are still providing trading opportunities but spreads are usually less tight and, consequently, less attractive to high-frequency traders. The differences in interest rates may be broader, aspect that may attract traders who traded based on more favorable swap.
At the end of last week, the price of a barrel of Brent was strengthened to its maximum of March near the level of 42.29. The price was supported by information from the production of petroleum in the United States dropped by 14 million barrels per day. It was also supported by data from oil reserves in the United States, which last week fell by 4.94 million barrels.
The main event of this week that could materially affect the dynamics of prices willbe the meeting of the major oil exporting countries which is due on April 17 in the capital of Qatar, Doha. It is expected that you parties to discuss stabilization of the price of oil.
In the 4 hours chart, Bollinger bands are directed upwards which suggests a continuation of the growth. At the same time, price has broken out the top most of the indicators and is, therefore, likely to decrease its average close to the level of 40.37 Ma.MACD histogram is in the positive zone and its volumes are growing.
Support levels: 41.40, 40.37, 39,40, 38.30.
Resistance levels: 42.30, 43.00, 44.00 45.00.
Calculation of profit and loss
MetaTrader estimated their gains or losses in the currency you have chosen in youraccount and displays it in each operation already is open or closed. It is important to be able to calculate your gain or loss projected, which can be done easily using the following formula:
Purchase of 1 lot of EUR/USD at 1.4723
Purchase (+) €100.000 for sale (-) 147.230$
A lot of EUR/USD at 1.4796 sale
Selling (-) €100.000 purchase (+) 147.960$
Purchase (+) €100.000 for sale (-) 147.230$ + sale (-) €100,000 purchase (+) 147.960$
= + $ 730
In this case the operation has been profitable for a total of $ 730 and the same calculation can be done in pips:
1 lot at EURUSD a pip value = $ 10
Buy 1.4723
Sale by 1.4796
73 pips of profit to $ 10 per pip
= + $ 730
After the more than moved yesterday's sitting, we see the first correction in the price. The EURUSD has a tendency to rise, with firm foundations. According to PM Moody, the resignation of Tspiras is a good signal for the euro, which also influenced thefall of the dollar yesterday.
Technical analysis tells us that the EURUSD has broken a level of importance in the1.1460, so a kick into the 1.1450-70 area could be used to take long positions. If you look well we will notice a bullish hidden divergence pointing upward is the trend, aswell as a significant break in the previous sale sector (Note blue rectangle).
If we look at the 38.2 and L4 will see a confluence. 38.2 points usually a kick in strong trends and the L4 is a pre-ruptura support. This means that if there is a rebound inthe EURUSD even we could get to see him this week pointing to the 1.1780.
A drop in the price that will take you to the area of the 1.1405 would leave withouteffect the previous scenario, but without affecting the of this upward trend. Simply kick would be more pronounced.
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