Wednesday, October 7, 2020

๐Ÿ“— Swing Trading 101: Will it Work for You? |  USD/JPY, GBP/JPY, and EUR/AUD Trade Ideas

Today's forex trade ideas, trading tips and discussions for beginners, and the latest news affecting the forex market.
October 7, 2020
Trading today? Read this first.
USD/JPY hits the top of our watchlist after a clear resistance break and ahead of commentary from the Federal Reserve this afternoon. Here's what Pip Diddy will be on the lookout for.
Trading opportunities on GBP/JPY and EUR/AUD

Did you know that GBP/JPY is testing a broken support level? Oh, and EUR/AUD is poppin’ up a decent range play. Come take a look at today’s charts!

Trade watchlist: CAD/JPY's uptrend pullback
Cyclopip's checking out CAD/JPY this week as we may see some action with the upcoming Canadian jobs update. Will the event bring buyers back or give sellers control to break lower?
Here are the EUR pairs that are currently bullish 

Using MarketMilk's long-term trend strength tool, we get to quickly see which EUR pairs are currently bullish and bearish:

Swing trading 101: Will it work for you?
Swing trading refers to the medium-term trading style that is used by forex traders who try to profit from price swings. Here's how it works plus, a quick list to see if swing trading is for you.
"Trading is 80% psychology and 20% strategy: Is this really true?"
Forum member tradeforex077 writes, "I don’t agree with this at all. I believe the psychology part is easier than finding a consistently profitable strategy." Here's what other traders have to say.
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