A lack of economic catalysts inspired a round of profit-taking that pushed the dollar lower against its major counterparts. The dollar pulled back from one-month highs against a basket of currencies on Wednesday as tumbling oil prices pushed down U.

Oil fell about 2 percent on Tuesday, with Brent settling at seven-month lows and U. Last post by elliottwaveforecast in Stocks and Indexes.

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Last post by deresel in Currencies. Last post by Pipschmitt in Beginner Questions. Last post by deresel in Trading Discussion. Not exactly the best week for the SMA Crossover Pullback strategy as central bank announcements disrupted trends.

Will the Fibs be a good play on the longer term trend? There was a lot of good movement, but the news got in my way of a trade. It looks like pound bears are back in the game with Brexit talks going on and BOE Governor Carney sounding less upbeat.

Think I should hop in this bounce? So much for that neat channel play! Traders often focus too much on making money instead of becoming a good trader. Unfortunately, this practice is hardly the way to consistent profitability.

Which economic themes will major forex traders pay attention to this week? Here are chart levels and potential catalysts for the majors!

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European currencies seem to have successfully breezed through the latest event risks, but there are still a number of major catalysts lined up in the next few days. Is risk appetite back on? Commodity currencies have outpaced the dollar in the past few days and might be in for more gains this week.

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No thanks to the ranging environment, the HLHB Trend-Catcher System lost two trades this week. Success seems to be largely a matter of hanging on after others have let go. We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders.

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We're also a community of traders that support each other on our daily trading journey. BabyPips The beginner's guide to FX trading News Trading. How to Trade Forex Trading Quizzes Forex Glossary. Dollar Advance Stalls As Oil Slides, Pound Struggles Near 2-Month Low The dollar pulled back from one-month highs against a basket of currencies on Wednesday as tumbling oil prices pushed down U.

Investors Skittish As Oil Enters Bear Territory; Eyes On China Stocks A renewed slump in oil prices to seven-month lows put Asian investors on edge on Wednesday. Crude Ends At Nine-Month Lows On Global Oversupply Oil fell about 2 percent on Tuesday, with Brent settling at seven-month lows and U.

Stocks Fall As Supply Worry Hits Oil; U. Dollar Climbs World stock markets fell on Tuesday as a drop in oil prices weighed on the energy sector. Dollar Hits 3-Week High On Fed Comments, Sterling Slips The dollar hit a three-week high on Tuesday, boosted by comments from the Fed.

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