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Psychology

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Articles about trading psychology and the mental aspects of the game. Feel free to submit your articles using our article guidelines.

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    • EUR/GBP IS IN A DOWNWARD MOVE, TARGETS LEVEL 0.8900 Key Resistance Levels: 0.9200, 0.9400, 0.9600 Key Support Levels: 0.8800, 0.8600, 0.8400 EUR/GBP Price Long-term Trend: Bearish The EUR/GBP pair is presently falling after retesting level 0.9000. The downtrend has been ongoing since June 29. The price has broken below the bullish trend line. This is an indication that the selling pressure may continue on the downside. EUR/GBP – Daily Chart Daily Chart Indicators Reading: The pair is at level 48 of the Relative Strength index period 14. This implies that the market is in the downtrend zone and below the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present upward move. EUR/GBP Medium-term Trend: Bullish On the 4-hour chart, the EUR/GBP pair has been on a downward move. The pair was resisted at level 0.9050 as the market dropped to level 0.8950. The price corrected upward to retest level 0.9000 twice before resuming the downward move. The downtrend is likely to continue. EUR/GBP – 4 Hour Chart 4-hour Chart Indicators Reading The 50-day and 21-day SMAs are sloping downward indicating the downtrend. The pair is below 20% range of the daily stochastic. It indicates that the market is approaching the oversold region. In the oversold region, buyers are likely to emerge to push prices upward. General Outlook for EUR/GBP The EUR/GBP pair has fallen and reached level 0.8960. The selling pressure is ongoing as price approaches the oversold region. The market may fall and reach a low of 0.8900. Source: https://learn2.trade 
    • AUDUSD CONTINUES TRADING BENEATH 0.7000 LEVEL AUDUSD Price Analysis – July 9 The AUDUSD pair retreated to level 0.6950 after failing to rise above 0.7000 level earlier in the week. Despite the growing number of confirmed infections with coronavirus in the US, increased optimism about a vaccine allows market sentiment to remain upbeat. Key Levels Resistance Levels: 0.7205, 0.7064, 0.7031 Support Levels: 0.6938, 0.6777, 0.5906 AUDUSD Long term Trend: Bullish In the wider context, the medium- to long-term bottom recovery from 0.5506 may be a reversal of the long-term downward trend from 1.1079 (high) level. A further rally on the horizontal resistance now at 0.7310 level may be seen to be high. This will stay the default case as long as it is now at 0.6777 level above the ascending trend line. Continuous trading underneath the ascending trendline would then shift the emphasis back to a low level of 0.5506. AUDUSD Short term Trend: Ranging For the moment, the intraday bias in AUDUSD stays neutral. Price activity from level 0.7064 is interpreted as a pattern of correction. Until the pattern ends, one more fall is predicted. On the downside, for a support level of 0.6777, below 0.6938 minor support level would transform bias to the downside. A break there targets a retraction of 38.2 percent from 0.5506 to 0.7064 at 0.6462 rates. Nonetheless, a sustained break of 0.7064 level would restore the entire surge from 0.5506 level instead. Source: https://learn2.trade 
    • $AIM AIM ImmunoTech stock with a local breakout watch above 2.92 , see https://stockconsultant.com/?AIM
    • $ADI Analog Devices stock with a narrow range breakout watch above 125.92 , see https://stockconsultant.com/?ADI
    • Date : 9th July 2020.14th consecutive decline in US claims.After it pared declines as a mostly risk-on session in Asia, led by a continued rally in Chinese stocks, gave way to a less certain session in European markets, Dollar was little changed after the slightly higher than consensus rise in jobless claims. EURUSD turned slightly lower to 1.1335 from 1.1340, while USDJPY was pretty much unchanged, bouncing between 107.17-107.40.US initial jobless claims dropped -99k to 1,314k in the week ended July 4, close to forecasts. The prior report for June 27 was revised to show a -69k decline to 1,413k (was 1,427k). This is the 14th week of decline from the record 6,867k from March 27. It brings the 4-week moving average to 1,437.25k from 1,500.25k (was 1,503.75k). Continuing claims declined -698k to 18,062k in the week ended June 27 versus 18,760k (was 19,290k) in the June 20 week. And continuing claims are down from a May 9 high of 24,912k. The insured unemployment rate fell to 12.4% from 12.9% (was 13.2%).Today‘s improvement was encouraging, though claims declines overall continue to fall short of the rebound we’re seeing in nonfarm payrolls, as well as the increases into the summer for most available supply and demand measures for the economy, though with some restraint in gains recently from pull-backs in re-openings.Treasury yields are inching slightly lower, even as equity futures rally. There was no real impact from the 14th consecutive decline in initial jobless claims. The 10-year yield is 1.8 bps richer at 0.646%, while the 2-year has dipped to 0.157%. Equity futures are now in the green, albeit barely for the USA30, while the USA100 is 0.6% firmer and the USA500 is up 0.2%.Caution over the coronavirus, with another record increase in US cases, and concerns over the reopening process are dictating a lot of the trade.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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