Wednesday, August 19, 2020

🧠 Trading Term of the Day: Stop Order | EUR/USD and AUD/NZD Trade Ideas

Today's forex trade ideas, trading tips and discussions for beginners, and the latest news affecting the forex market.
August 19, 2020
Trading Term of the Day: Stop Order
A stop order is an order placed to either buy above the market or sell below the market at a certain price. In this forexpedia entry, we cover the two types of stop orders and when you should use it.
Trade Idea: AUD/NZD's uptrend pullback

AUD/NZD bulls have been on fire this month but it looks like the ride higher may be running out of steam. Is this another opportunity to play the uptrend at a better price?

This week's crypto price analysis
Crypto bulls and bears are playing waiting games this week as they hover at key levels and inside recognizable patterns. Will we see breakouts in the next couple of days?
EUR/USD has been hitting all-time highs

Using MarketMilk's trading ranges tool, we can see how EUR/USD has reached the right most band of its range for the 3-month, 6-month, and 1-year time period:

"Scalping with an account less than $300, how realistic is this?"

Forum member ponponwei writes, "For those fascinated by scalping or have tried it, don’t you guys get eaten up by fees? Especially if you’re trading a $300 account or even smaller?"

Today's Featured Pair: EUR/USD

Checking out EUR/USD for the session as traders pullback from the recent uptrend. Will the upcoming FOMC meeting minutes bring back the bulls?

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