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Followme-Daily Forex Analysis

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Hi GUYS, Happy Wednesday!

I'd like to share daily forex analysis from Followme, hope this information helps your trading.

Today, Let's focus on AUD and NZD.

AUDUSD is trading at 0.6761; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6765 and then resume moving downwards to reach 0.6635. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6825. In this case, the pair may continue growing towards 0.6905.


NZDUSD is trading at 0.6447; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6455 and then resume moving downwards to reach 0.6315. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6525. In this case, the pair may continue growing towards 0.6645.

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2019.08.20 #AUDUSD  #news  #forex

The Australian dollar fell in yesterday's Trading, almost touching the resistance point of 0.6800 at 0.6795. After a tumultuous last week, the AUD is expected to see further volatility with the release of the RBA monetary policy meeting minutes tomorrow midday.


Released 11 times a year, the minutes are a detailed record of the #ReserveBank Board’s most recent meeting. It will provide in-depth insights into the economic conditions that influenced their decision on where to set interest rates.


The #AUDUSD is at 0.6780 nearly. Traders are betting on the Euro to #fall through the psychological level of $1.10 this month as the #ECB prepares a stimulus package amidst the recent global economic downturn. Policy maker Olli Rehn said the package would be “impactful and significant” and would be better for the bank to overshoot than undershoot market expectations.


Furthermore, we can expect to see further short-term volatility as the US-China #TradeWar continues to develop. The temporary license granted to Huawei by the US Commerce department is due to expire today, with expectations that they will extend it another 90 days permitting the Chinese firm to continue to purchase supplies from US companies.


The #EconomicPolicySymposium will be held in Jackson Hole, Wyoming this upcoming Saturday. Attended by central bankers, finance ministers, academics and financial market participants from around the world, Federal Reserve Chair Jerome Powell’s speech is the highlight of the day as they look for signals of further #RateCuts.


Expected Ranges

AUD/USD: 0.6715 - 0.6820

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#Economics #USD #analysis

#US #TreasuryYield curve continued to invert on Tuesday with the spread between the 10- and two-year yields falling to -5 basis points, the lowest level since 2007.
The inversion, where long-term borrowing costs fall below the short-term ones, is widely considered an advance warning of an #impending#recession. Curve inversions have preceded US recessions of the past 50 years.
Some observers thought the curve inversion is not a reliable indicator anymore. Because the #US #bonds are currently yielding more than their #G7 #counterparts. So, the US bonds, particularly at the long end of the curve, tend to attract #overseas demand.
Also, the recession fears appear overblown as the US consumer is still holding up strong and the labor market is holding tight.
The US #ConferenceBoard said on Tuesday that its consumer confidence index (#CCI) slipped to 135.1 this month from a slightly upwardly revised 135.8 in July. However, the survey’s present situation index rose to 177.2, the highest reading since November 2000.
Further, the Conference Board survey’s labor market differential jumped to 39.4 in August from 33.1 in July, indicating a potential drop in the jobless rate.
So, the recession fears appear overblown as the US consumer is still holding up strong and the labor market is holding tight. #followme #socialtrading

Follow our Facebook@FollowMeLimited to find more information.


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#analysisi #forex #GBPUSD

#GBP was expected to weaken yesterday, and break of the solid 1.2150 support was not expected. There was another support at 1.2180. GBP subsequently dipped to 1.2172 during late NY hours before settling on a soft note at 1.2182. The immediate #risk still appears to be tilted to the downside, and for today, a breach of 1.2150 is not ruled out. That said, lackluster momentum suggests the next support at 1.2125 is unlikely to be challenged (this level is followed by solid support at 1.2100). On the upside, only a move above 1.2250 would indicate that the current mild downward pressure has eased (minor resistance is at 1.2225).

#Next 1-3 weeks, #GBP is likely to probe the #top of the expected 1.2150/1.2380 range first. After touching a one-month high of 1.2310 on Tuesday (27 Aug), GBP plummeted on the back #Brexit headlines and came close to the bottom of the expected range at 1.2150 (low of 1.2156). While the positive underlying tone has been dented, we continue to view the current movement as part of a consolidation phase.

So, after yesterday’s price action, GBP would likely trade at a lower range of 1.2100/1.2300 in the coming days. #SocialTrading

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#forex #followme #socialtrading

Here are the calendar highlights for this week:




01:45     Caixin Manufacturing PMI (Aug)

01:00     JPY Japan Vehicle Sales y/y

03:00     TRY Turkey GDP y/y

07:50     EUR France Manufacturing PMI

07:55     EUR Germany Manufacturing PMI

04:00     EUR Eurozone Manufacturing PMI

08:30     GBP Manufacturing PMI



04:30     AUD RBA Rate Statement

04:30     AUD RBA Interest Rate Decision

07:00     ECB's Nominated President Lagarde speech

13:30     CAD Manufacturing PMI m/m

13:45     USD Markit PMI data (Aug)

14:00     USD ISM Manufacturing PMI (Aug)

21:00     US Fed’s Rosengren (hawk, dissenter) speech




01:30     JPY BoJ's Kataoka speech

01:30     AUD Gross Domestic Product (QoQ) (Q2)

08:30     GBP Services PMI

09:00     EUR Eurozone retail sales m/m

11:00     EUR ECB's Lane speech

14:00     CAD Bank of Canada Monetary Policy Report

14:00     CAD Bank of Canada (BOC) Interest Rate Decision

15:15     CAD BoC Press Conference

18:00     USD Fed releases Beige Book




05:45     CHF Q2 GDP q/q

12:15     USD ADP Employment Change (Aug)

13:45     USD Markit Services PMI data (Aug)

14:00     USD ISM Non-Manufacturing Index

14:30     GBP BOE’s Tenreyro speaks in Frankfurt

15:45     CAD BOC Schembri give economic progress report



06:00     EUR Germany Industrial Production m/m

07:30     GBP Halifax House Prices m/m

09:00     EUR Q2 Final GDP q/q

12:30     USD Non-Farm Payroll Report, Unemployment Rate and Wage Data

12:30     CAD Employment Change and Unemployment Rate

14:00     CAD IVEY PMI

16:30     Fed's Chair Powell speech

16:30     SNB's Chairman Jordan speech



The US-China #TradeWar remains tense, as certain tariffs kick in and will start to weigh on the US economy. Continued deterioration with Chinese manufacturing data also has #global #recession concerns on high alert and have markets bracing for the next wave of monetary and fiscal stimulus.


Markets remain firmly focused on the #ECB’s September 12th meeting and September 18th #FOMC decision, but we can’t overlook a plethora of# rate decisions that will likely signal continued additional #RateCuts are coming and stimulus is just around the corner.  The #RBA is expected to remain on hold for just one month, while the #BOC and #Riksbank are expected to deliver dovish messages that will see them join the global #RateCutting club. 


#GBP #Brexit  #BorisJohnson will suspend parliament, commencing between 9th and 12th September (tbc) until the Queen’s speech on 14th October. The move leaves MPs that want to block no-deal with little time to do so and increases the chance of no-deal Brexit. The next week could, therefore, be action-packed and full of surprises. Massive swings in the pound look almost guaranteed, with there being particular vulnerability to the downside if government fails to block no-deal or bring down the government.


#AUD The #RBA meeting on Tuesday could be another one on pause mode, with market pricing only assigning a 10% chance of a 25 bps cut from the current record low of 1%. The last set of employment data was robust, with solid jobs growth and a stable unemployment rate at 5.2%. There is a slight risk of a surprise cut, but more likely we could get a more dovish tone to the statement. Q2 GDP data on Wednesday could spring a positive surprise, with latest estimates suggesting a slight improvement to +0.5% q/q from +0.4%. A dovish statement or a surprise cut would pile additional pressure on an already weak Aussie dollar. It’s fallen vs the US dollar for the past six weeks. Other G-7 Q2 data has been flat to negative, so positive growth could be a boon for AUD.




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#analysis #forex #socialtrading #followme

The #EURUSD pair bounced from the mentioned low ahead of the London fix, heading into the Asian opening trading in the 1.0970 region. The pair retains the #bearish stance, with an upward corrective movement only likely if the pair firms up beyond 1.1000.

Now, it is trading at 1.0934. In the meantime, the 4 hours chart shows that the 20 SMA continues accelerating south below the larger moving averages and well above the current level, while technical indicators have stalled their slumps, but remain within extreme oversold levels. 

The #risk is skewed to the #downside, with the decline seen extending on a break below the mentioned daily low.

Support levels: 1.0955 1.0920 1.0890

Resistance levels: 1.1000 1.1040 1.1085


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#analysis #forex #followme #socialtrading
The #GBPUSD pair pullback to 1.2240 while heading into the London open on Thursday. Now it is trading at 1.2217.
#GBP recently surged as the UK lawmakers voted to avoid #NoDeal #Brexit and also turning the down the #PM #BorisJohnson’s proposed snap general election. The members of the parliaments (MPs) debated various bills concerning no-deal Brexit and early elections at the House of Commons. These bills will now reach the upper house i.e. the House of Lords for further discussions/amendments, scheduled for Thursday, and return back to the lower chamber prior to getting the Royal Assent. As per the Labour sources cited by The Press Association, the UK government's legislation to stop a no-deal Brexit will be completed by Friday.
With the risk tone remains positive with nearly four basis points (bps) of gains to 1.51% mark of the US 10-year Treasury yield by the press time.
Trade headlines will be the key to determine near-term trade direction of the #GBPUSD pair while August month’s ADP Employment Change, #ISM Non-Manufacturing Purchasing Managers’ Index (#PMI) and Factory Orders for July from the #US will decorate the economic calendar.

#Technical Analysis
Traders now watch over 21-day simple moving average (SMA) level of 1.2155 and 1.2100 round-figure during additional pullback whereas 1.2308/10 area including August month high and 50-day SMA and early-July low surrounding 1.2382 could please buyers if prices clear recent high of 1.2261.


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#analysis #forex #followme #socialtrading

#GBPUSD pair stays firm around 1.2320 after witnessing three consecutive positive daily closings ahead of Friday’s UK session open, due to the receding chances of no-deal Brexit.


The United Kingdom’s (UK) House of Lords is still debating on various Brexit issues to roll them out by Friday evening, to return them to House of Commons that could pass them for Royal Assent. While no significant change is expected in that front, the British Pound (GBP) traders are more inclined to hear from judicial reviews and pleas against the Prime Minister (PM) Boris Johnson’s prorogation to the parliaments.


While the UK’s economic calendar is mostly silent, the #US will offer August month employment data for fresh impulse. Market consensus favors no change in the #UnemploymentRate of 3.7% whereas Average Hourly Earnings might step back from 3.2% to 3.1% on YoY while likely being unchanged to 0.3% on MoM. The headline Nonfarm Payrolls (#NFP) could weaken to 158K from 164K prior.


Additionally, the US #FederalReserve Chairman is scheduled to speak at an event hosted by the Swiss Institute of International Studies, in Zurich, and hence his comments will be closely observed ahead of the blackout period for the Fed policymakers.



Sustained break of the 50-day simple moving average (DMA) requires to be validated by a run-up crossing July 17 low of 1.2382 for further advances, failing to which can recall 1.2200 back to the chart.



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#WeekAhead #forex #news #followme #socialtrading
Here are the data highlights for this week:

14:00 German trade figures and Eurozone Sentix Investor Confidence Index
16:00 UK BoE's Vlieghe speech
16:30 UK GDP, manufacturing production and construction output (all monthly figures)

09:30 China Consumer Price Index (YoY) (Aug)
16:30 UK average earnings index
16:30 UK ILO Unemployment Rate (3M) (Jul)

08:30 Australia Westpac Consumer Confidence (Sep)
20:30 US core PPI

Chinese trade figures
14:00 German Harmonized Index of Consumer Prices (YoY) (Aug)
19:45 Europe ECB rate decision and press conference
20:30 Europe ECB Monetary Policy Statement and Press Conference
20:30 US CPI

20:30 US retail sales
22:00 US Michigan Consumer Sentiment Index (Sep)

#ECB unlikely to re-launch #QE
In this week, the main significant event is Mario Draghi’s last policy meeting as the #ECB President. There have been some suggestions that the #Italian will go out with a bang and announce more quantitative #easing to stimulate the flagging #Eurozone #economy - not least Germany, where incoming data has been truly shocking.
However, with #InterestRates already at zero and having only recently ended their #QE programme, some would argue that the best course of action would be to take no action at all, even if — as Mr Draghi put it in July — the economic outlook is “getting worse and worse.” Indeed, there could be an element of hawkish surprise at this meeting. Several ECB officials have spoken against QE, including Jens Weidmann, Klaas Knot, and Madis Muller in recent days. With this much opposition, Mario Draghi will probably not want to create a mess for his successor to clean up.

US #Inflation before #Fed meeting
With the latest employment figures disappointing expectations following a very poor manufacturing #PMI earlier in the week, this has further cemented speculation over a rate cut by the Fed later this month. Ahead of the September 18 meeting, we will have two more key data releases this week which the Fed might take into account when deciding on interest rates: Consumer Price Index (#CPI) (Thursday) and #RetailSales (Friday).
Unless #CPI is shockingly weak, it is safe to assume the #Fed will only #Cut #Rates by 25 basis points rather than 50. The retail sales may change that view either. Still, it could trigger some movement in the forex and stock markets. After a strong 0.7% m/m increase in spending last month, traders will be watching for any signs of a #slowdown, especially after last month’s tariff escalations.

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09.11 #analysisi #forex #socialtrading

The #EURUSD has been fluctuating between two converging trend-lines over the past one week or so, forming a symmetrical triangle on hourly charts. Wednesday's early uptick quickly ran out of the steam, rather met with some fresh supply near the triangle resistance.


The #intraday #pullback has now dragged the pair back below 100-hour SMA, the intraday bias might have shifted in favor of bearish traders and sets the stage for a move towards testing the triangle support, currently near the 1.1020 region, which is followed by 200-hour EMA.


Due to drifting into the bearish territory on the 1-hourly chart, failure to defend the mentioned support levels might indicate the resumption of the prior/well-established bearish trend.


The pair might then turn vulnerable to slide back towards challenging multi-year swing lows, around the 1.0925 area, before eventually sliding farther below the 1.0900 round figure mark towards testing its next major support near the 1.0835-30 region - levels now seen since May 2017.


On the other hand, the 1.1050  region might continue to attract some fresh #supply, which if cleared decisively should negate any near-term bearish bias and prompt some aggressive short-covering move and assist the pair to surpass last week's swing high resistance near the 1.1085 level.


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0912  #analysis #EURUSD  #forex  #socialtrading

#EURUSD pair came under some renewed selling pressure on Wednesday and tumbled back below the key 1.10 psychological mark, albeit managed to recover around 25-pips from daily lows. The shared currency took a sharp knock in reaction to the German growth downgrade by the #Kiel #Institute for the World Economy, now expected to contract by -0.3% in Q3 following -0.1% in the previous quarter and meeting the criteria of a ‘technical recession’.


#USD remained well supported by a strong follow-through pickup in the US Treasury bond yields amid growing optimism over the resumption of the #USChina trade talks. On the economic data front, the US Producer Price Index (PPI) for August bettered market expectations and remained supportive of the bid tone surrounding the greenback. The headline PPI came in to show a rise of 0.1% during the reported month while the core PPI, which excludes food and energy prices rose 0.3%.


#TradeTensions between the world's two largest economies eased further on Wednesday after the US President #Trump said that he will delay a planned tariff hike on Chinese goods by two weeks as a gesture of goodwill after Beijing exempted a range of American goods from its own tariffs. The market reaction, however, turned out to be rather muted, as investors seemed reluctant to place any aggressive bets ahead of Thursday's key event risk - the highly anticipated #ECB monetary policy decision.


The #ECB is widely expected to #lower #InterestRates further into the negative territory and also announce a new #QEprogram, though opinions on the stimulus package are divided and thus, increases the relevance of Thursday's rate decision. This will be followed by the post-meeting press conference, where comments by the ECB President Mario Draghi will further collaborate towards infusing volatility around the EUR crosses. From the US, the release of consumer inflation figures for the month of August might influence the USD price dynamics but seems more likely to be overshadowed by the post-ECB volatility.



Short-term #TechnicalAnalysis

From a technical perspective, the #EURUSD on Wednesday broke through a symmetrical triangle formation on hourly charts and confirmed a fresh bearish breakdown. However, the fact that the pair managed to defend the 1.10 handle on a closing basis warrant some caution before placing any aggressive bearish bets. The pair now seems to have stabilized around 200-hour SMA, just below the triangle support breakpoint near the 1.1025 region. Any subsequent up-move now seems to confront fresh supply near mid-1.1000s, resistance marked by 38.2% Fibo. level of the 1.1251-1.0926 downfall, above which a bout of short-covering now seems to assist the pair to surpass the recent swing higher - around the 1.1070-80 region - and test 61.8% Fibo. level resistance near the 1.1125-30 area en-route the next major hurdle near the 1.1175-80 region (100-day SMA).


On the flip side, sustained weakness below the 1.10 handle, leading to a subsequent slide through the overnight swing lows - around the 1.0985, might now turn the pair to fall back towards the multi-year swing lows - around the 1.0925 area before eventually dropping farther below the 1.0900 round figure mark towards testing its next major support near the 1.0835-30 region.



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#WeekAhead  #forex  #news  #followme  #socialtrading

Hey friends! Happy new week.

Here are the data highlights for this week:



10:00      Chinese industrial production, fixed asset investment and retail sales




09:30   RBA Meeting Minutes

17:00     German ZEW economic sentiment and

21:15     US industrial production



16:30     UK Consumer Price Index (YoY) (Aug)

20:30     Canada BoC CPI



02:00   US FOMC Economic Projections

02:00   US Fed's Monetary Policy Statement REPORT

02:00   US Fed Interest Rate Decision

02:30   US FOMC Press Conference SPEECH

06:45   AUD Gross Domestic Product (QoQ) (Q2)

09:30   AUD Employment Change s.a. (Aug)

09:30   AUD Unemployment Rate s.a. (Aug)

10:00   JPY BoJ Interest Rate Decision

10:00   JPY BoJ Monetary Policy Statement REPORT

14:00   JPY BoJ Press Conference SPEECH

19:00   UK BoE Asset Purchase Facility

19:00   UK BoE Interest Rate Decision

19:00   UK BoE MPC Vote Hike

19:00   UK Bank of England Minutes REPORT

19:00   UK BoE MPC Vote Cut

19:00   UK BoE MPC Vote Unchanged



20:30   Canadian Retail Sales (MoM) (Jul)


#FederalReserve is expected to cut rate about 25-basis point. It would be a major shock if the Fed doesn’t deliver. But some, including Donald Trump, want more than just 25 basis points. In fact, the US President has called for “boneheads” Fed to cut rates to zero or lower in a tweet this week. Understandably, with US data not deteriorating as badly as, say, Germany, the Fed is reluctant to cut aggressively and rightly so. The risk therefore is that the Fed refuses to provide a dovish outlook for interest rates. In this potential scenario, a rate cut might only weigh on the dollar momentarily. With most other major central banks already being or turning dovish, the Fed will also need to be super dovish for the dollar to end its bullish trend. Otherwise, the greenback may find renewed bullish momentum, even if the Fed cuts by 25 basis points.



The #Swiss National Bank will have to say about the #ECB’s decision to resume bond buying, given the recent appreciation of the franc against the shared currency. The #BoJ is unlikely to respond to the #ECB’s resumption of bond buying. It may keep the current policy of controlling the yield curve. For one, the global economy hasn’t deteriorated too significantly to exacerbate deflationary pressures in the export-oriented Japanese economy. For another, the there’s only limited number of policy options left at the BoJ's disposal. Thus, cutting short-term interest rates further into the negative may be an option, but to be used on another occasion.


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#analysis #forex #followme #socialtrading
The #GBPUSD is trading at 1.2410 due to no positive Brexit developments and an on-going Parliament deadlock at the UK.

The #UK #PM Boris Johnson’s Luxembourg visit failed to provide any key updates. The EU President criticized the Tory leaders’ depth of details while British Foreign Secretary Dominic Raab reiterated the PM”s pledge to leave on October 31 and also passing the bucket of criticism back to the EU.

The #USD stays on the front foot as the recent rise in #safe-haven demand, mainly due to the attacks of Saudi Arabia, joins hands with optimism surrounding the US-China trade talks, up for early October.

While the absence of data, except the US Industrial Production for August, is likely in support of carrying the previous move forward, any positive to the UK PM during the first day of hearings at the UK’s Supreme court could help the Cable recover some of its latest losses.

Unless providing a daily closing beyond 100-day simple moving average (DMA) level near 1.2510, the quote is less likely to rise towards mid-July highs surrounding 1.2580, which in turn highlights the importance of 1.2380 and 50-DMA level of 1.2280 during further declines.



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#EURUSD #ANALYSIS #Forex #followme #socialtrading

The EUR/USD pair fails to hold on to recovery gains as it trades near 1.1070 ahead of the European session on Wednesday.


The US #IndustrialProduction and #CapacityUtilization failed to please the #USD buyers as better than forecast prints of the ZEW Economic Sentiment for Germany and the Eurozone gained major attention. Also adding to the pair’s strength was the market’s risk recovery after Saudi Arabian diplomats showed readiness to overcome the recent damages due to drone attack within few weeks. Furthermore, news of the New York #Fed injecting funds through repo market and trade-positive headlines concerning the US, China and Japan also tamed the earlier #risk-off momentum.


#Traders have been #cautious since the start of Wednesday with eyes on the US #FederalReserve’s monetary policy meeting announcements up from 18:00 GMT. However, fresh trade/political headlines help extend the latest risk-on. As a result, Asian stocks report gains and the US 10-year Treasury yield remain around 1.80% by the press time.


Considering the high probability of the US Federal Reserve’s 0.25% Fed #rate, investors will be less surprised unless the US central bank offers less/more or no rate change. As a result, details of the quarterly economic forecast, press conference by the Fed Chairman #Powell and Fed’s Monetary Policy Statement will be the key to predict near-term market moves. The European Central Bank (#ECB) has recently shown its dovish bias and hence any hawkish statement from the Federal Open Market Committee (#FOMC) could be harmful to the pair’s latest recovery.


On the economic calendar, final reading of August month Consumer Price Index (CPI) from the Eurozone and the US housing market numbers could offer intermediate moves ahead of the Fed decision.



Not only a falling trend-line since late-June, at 1.1090, but the 100-day exponential moving average (EMA) level of 1.1167 also could restrict pair’s near-term upside, which in-turn highlights 1.1100 and recent low surrounding 1.0925 as key supports.


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#WeekAhead #forex #news #followme #socialtrading
Hey friends! Happy new week.
Here are the data highlights for this week:
15:30   German Markit PMI Composite (Sep)
15:30   German Markit Manufacturing PMI (Sep)
16:00   Eurozone Markit PMI Composite (Sep)
21:50   US Fed's Williams speech

13:35   BoJ's Governor Kuroda speech
16:00   German Ifo Business Climate and US Consumer Confidence (CB)
17:55   RBA's Governor Lowe speech

07:50   BoJ Monetary Policy Meeting Minutes
10:00   RBNZ Rate Statement REPORT
10:00   RBNZ Interest Rate Decision

20:30   US Final GDP

07:30  Japan Tokyo CPI ex Fresh Food (YoY) (Sep)
20:30  US Nondefense Capital Goods Orders ex Aircraft (Aug)
20:30  US Core PCE Price Index; Core Durable Goods Orders, and Personal Spending and Income

Among next week’s data highlights, traders should watch closely: (1) Eurozone flash services and manufacturing PMIs, (2) RBNZ rate decisions and (3) US macro data released throughout the week.

Eurozone PMIs in focus
The #ECB restarted #QE and cut #InterestRates last week because of the Eurozone economy. The latest PMIs provide a leading indication of economic health. Businesses and their purchasing managers tend to react quickly to changing market conditions. If the PMIs – especially in the manufacturing sector – continue to paint a bleak picture, then the single currency could come under renewed pressure in early next week. The #EURUSD bulls huffed and puffed this week, but macro concerns kept a lid on the exchange rate. With the Fed turning out to be less dovish than expected, the path of least resistance remains to the downside for this popular exchange rate. 

#RBNZ likely to hold rates steady after the surprise 0.5% cut
The Reserve Bank of New Zealand is likely to hold interest rates unchanged at the historically-low rate of 1.0% after delivering a shock 50 basis point cut when a 25bp cut was expected in the previous meeting in August. In total, rates have been trimmed by the RBNZ by 75 basis points since May. Going forward, the rate setters at the central bank will likely sit on theirs hands and monitor the ongoing trade situation between the US and China. However, if the RBNZ makes any hints of forthcoming rate cuts then the NZD/USD could drop further lower after it hit a new 2019 low below the old low of 0.6270 on Friday to drop to 0.6255 at the time of this writing.

US-China Trade and #Brexit back to forefront
Deputy trade negotiators from the US and China resumed talks for the first time in almost two months this week. Their aim is to lay the groundwork for high-level talks in early October. Will they finally bridge their differences and find a way out of the trade war? As the high levels talks near, expect more tweets and tariff threats from US President Donald Trump, which could highs some risk-sensitive markets. However, for the time being, stock markets remain supported with US equity indices near record levels after a week of central bank bonanza, where the #message was loud and clear: global #InterestRates will remain at or near record #lows for the foreseeable future.

Meanwhile, hopes over an imminent Brexit breakthrough rose earlier this week and the GBP/USD shot above the 1.25 handle to trade 20 pips shy of 1.26 by early Friday session. However, it then sold off sharply after the Irish Foreign Minister Simon Coveney dashed those hopes by saying: “I think we need to be honest with people and say that we’re not close to that deal right now. But there is an intent I think by all sides to try and find a landing zone that everybody can live with here."

Followme, more than trade.



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#forex #followme #socialtrading

#AUDUSD has dropped into the red, having faced rejection at the 50-hour moving average line and could suffer a deeper drop if the Reserve Bank of Australia's (#RBA) governor Lowe reinforces the market expectation of a 25 basis point #RateCut on Oct. 1.


The currency pair is currently trading at session lows near 0.6765, representing 0.10% losses on the day. The pair had picked up a bid in the early Asian trading hours on comments by the US Treasury Secretary Steve Mnuchin, confirming the Chinese Vice Premier’s trade visit to the US in the next week


The upside, however, was capped by the 50-hour moving average near 0.6779. Therefore, a break above that average is needed invite stronger buying pressure and yield a notable bounce.


That, however, may not happen or could be short-lived if RBA's Lowe talks dovish. The central bank chief is scheduled to speak at 09:55 GMT.


Expectations for the RBA to cut the official interest rate to 75% on Oct. 1 surged following last week's worse than expected unemployment rate.


The ASX 30 day cash rates futures contracts are currently indicating a more than 70% chance of an RBA rate cut next week.


The AUD will likely rise well above the 50-hour MA if RBA's Lowe pushes back on expectations of an October rate cut. The currency pair, however, could drop below 0.67 if Lowe talks dovish, further boosting the probability of a 25 basis point rate cut on Oct. 1.


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#WeekAhead #forex #followme #socialtrading

Hey friends, this is the last day of September and the new day of this week.

Here is the highlight of this week forex news:




09:45      Chinese manufacturing PMI

16:30   UK Gross Domestic Product (QoQ) (Q2)

20:00   German Harmonized Index of Consumer Prices (YoY) (Sep)



12:30      RBA meeting

22:00      US Manufacturing PMI




20:15      US ADP Employment report



22:00     US Non-Manufacturing PMI



20:30   Average Hourly Earnings (YoY) (Sep)

20:30      US Nonfarm Payrolls (Sep)



In this week, the economic calendar is full of market-moving data and the Reserve Bank of Australia looks set to #CutRates one more time on Tuesday. For another, Q3 is officially ending on Monday, meaning there will be some portfolio rebalancing and window dressing operations from portfolio managers to provide extra volatility. All this is happening at a time when #Brexit talks are entering a crucial stage, while the #US-China trade talks are set to resume in early October.



With regards to Brexit, reports on Friday suggested that the EU believes negotiations have stalled and that the possibility of reaching an agreement in October is very limited. So, everything is up in the air and a lot could happen. So, volatility should remain elevated, which should be good news for traders.


By the time we get to Friday’s #NonfarmPayrolls report, a lot could have happened. But those employment figures will likely be the week’s main scheduled event. With jobs growth slowing over the past few months, another disappointing showing could increase bets on further rate cuts from the Fed and, in turn, derail the dollar’s rally. Or will there be a surprise pick-up in wage growth? If that’s the case, the USD could remain supported for a while yet.


Ahead of Friday’s US jobs report, we will have had the latest manufacturing PMIs from both China and the US. After a shocking German PMI this week, growth concerns could really come to the forefront should manufacturers at the world’s largest economies also paint a bleak picture. So, commodity dollars could be in for a wild ride.





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#EURUSD appears to have met a strong resistance in the mid-1.0900s for the time being amidst a recovery attempt in the Greenback.

The pair is exchanging gains with losses around the 1.0940/50 region in the European morning, looking to extend the positive streak for yet another session after YTD lows near 1.0880 on Tuesday.

Broad-based fears of a recession in the US economy in the next couple of years continue to fuel the selling pressure around the Dollar and the downtrend in US yields, all collaborating further with the corrective upside in spot.

The pair keeps the weekly recovery well and sound so far today, retaking levels well above the 1.09 barrier on the back of increasing selling pressure hitting the Greenback. The up move in the pair, however, is seen as corrective only, as the slowdown in the region stays far from abated and carries the potential to deteriorate further, as per the latest PMIs in core Euroland and despite the lacklustre improvement in a couple of German sentiment gauges. Speaking of Germany, the likeliness that the country could slip back into recession in the third quarter just adds to the already gloomy panorama for the bloc and weighs further on the single currency. The unremitting slowdown in the region does nothing but justify the ‘looser for longer’ monetary stance by the ECB. On another front, potential US tariffs on imports of EU cars remain well on the table, while the Brexit limbo and UK politics adds to the ongoing concerns.

EUR/USD technical analysis
At the moment, the pair is retreating 0.09% at 1.0948 and a breach of 1.0879 (2019 low Oct.1) would target 1.0839 (monthly low May 11 2017) en route to 1.0569 (monthly low Apr.10 2017). On the upside, the next hurdle aligns at 1.1000 (21-day SMA) followed by 1.1109 (monthly high Sep.13) and finally 1.1163 (high Aug.26).

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The #GBPUSD pair reversed an early European session dip to sub-1.2200 levels and rallied around 30-35 pips in the last hour, albeit lacked any strong follow-through and quickly retreated few pips thereafter.


The continued showing some resilience below the 1.2200 round-figure marks and managed to regain some positive traction amid some renewed US Dollar weakness. The latest developments on the US-China trade front threatened to derail already delicate trade negotiations and turned out to be one of the key factors weighing on the Greenback.


Brexit uncertainties continue to cap the upside

Apart from a subdued USD price action, the uptick lacked any major fundamental catalyst and remained capped in the wake of overnight reports that Brexit talks between Britain and the European Union were close to breaking down. Meanwhile, the UK PM Boris Johnson reiterated that they would leave the EU by October 31st and revived fears of a no-deal Brexit.


Moreover, the latest comments by the Irish finance minister, Paschal Donohoe clearly indicated that any Brexit deal is nowhere in the offering, which might further contribute towards keeping a lid on any runaway rally for the major. Donohoe said that there is a big gap between the UK and the EU on the crucial Irish backstop issue and constructive engagement is the only choice.


Hence, it will be prudent to wait for a strong follow-through buying before confirming that the recent slide from the vicinity of the 1.2600 handle is already over and (or) positioning for any further near-term appreciating move amid absent relevant market-moving economic releases - either from the UK or the US.


Later during the early North-American session, a scheduled speech by the Fed Chair Jerome Powell might influence the USD price dynamics and produce some short-term trading opportunities ahead of the release of the minutes of the latest FOMC monetary policy meeting held on September 17-18.

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The #USDJPY pair finally broke out of its daily consolidative trading range and jumped to near two-week tops, around the 108.25 region in the last hour.
A sustained move above 100-day EMA was seen as a key trigger for bullish traders and remained supportive of some follow-through buying interest on Friday.
The pair is now trying to build on the momentum further beyond a four-month-old descending trend-line resistance amid growing US-China trade optimism.
This is closely followed by 50% Fibonacci retracement level of the 112.40-104.45 downfall, which if cleared will set the stage for a further near-term appreciating move.
Beyond the said hurdle around mid-108.00s, the pair is likely to aim towards reclaiming the 109.00 handle en-route 61.8% Fibo. resistance near the 109.30-35 region.
On the flip side, any meaningful pullback now seems to find some support near the 107.85 region (100-day EMA), which if broken might negate the constructive outlook.


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The #GBPUSD pair remained under some selling pressure amid a flurry of #Brexit headlines, albeit managed to recover around 60-65 pips from daily lows touched in the last hour.
The pair failed to capitalize on the previous session's strong upsurge to the highest level since May 21 and met with some aggressive supply on Wednesday amid fading optimism over a possible #Brexit agreement before the fast-approaching October 31 deadline.

Against the backdrop of the #DUP concerns on the UK PM Boris Johnson’s Brexit concessions, a UK official said that the government was downbeat on chances of a Brexit deal, exerted some heavy #pressure on the #Pound.
The #intraday selling pressure aggravated further, dragging the pair closer to mid-1.2600s, in reaction to reports that suggested technical Brexit negotiations have reached an impasse. The report further added that the EU sees Brexit deal as impossible unless the UK moves.
With the latest #Brexit developments turning out to be an exclusive driver of the intraday volatility, the pair seemed rather unaffected by a subdued US Dollar price action, which remained on the defensive amid the ongoing slide in the US Treasury bond yields.
If the GBP/USD pair continues to show some resilience below the 1.2700 round-figure mark or the current pullback marks the end of the recent strong #bullish momentum that started last week and the resumption of the recent bearish trend. #forex #followme #socialtrading


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The #USDJPY pair extended its #sideways consolidative price action through the Asian session on Thursday and remained confined in a narrow trading band above mid-108.00s.
The mentioned region marks a resistance breakpoint and coincides with the 50% Fibonacci level of the 112.40-104.45 downfall and should act as a key pivotal point for intraday traders.
Meanwhile, oscillators on the daily chart maintained their bullish bias and have also eased from slightly overbought conditions on the 4-hourly chart, favouring short-term bullish traders.
A sustained move beyond the 109.00 handle will further reinforce the constructive set-up and set the stage for an accelerated move up towards the 109.30 next resistance zone.
The said hurdle represents early August swing highs and 61.8% Fibo. level, which if cleared will negate any bearish bias and pave the way for a further near-term appreciating move.
The pair could then surpass an intermediate resistance near the 109.60-65 region and aim towards reclaiming the key 110.00 psychological mark en-route mid-110.00s supply zone.
On the flip side, any pullback below the mentioned resistance turned support might still be seen as a buying opportunity and help limit the downside near the 109.00-108.90 #SupportArea.


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EUR/USD now is trading at 1.1130. The upside momentum in the single currency has subsided a tad at the end of the week.

The EUR/USD pair is now struggling for a clear direction following three consecutive daily advances. Indeed, the positive streak includes the ahead 2-month tops in the 1.1140 regions recorded on Thursday, just ahead of the 100-day SMA.

Spot gathered extra pace along with the rest of the riskier assets after the #UK and the #EU clinched a Brexit deal yesterday, although some cautiousness has emerged in past hours in response to firm opposition from the #DUP and ahead of the UK Parliament vote on Saturday.

In the euro docket, Current Account figures for the month of August are only due later, while speeches by Dallas Fed R.Kaplan (2020 voter, dovish), Kansas City Fed E.George (voter, hawkish) and #FOMC’s R.Clarida (permanent voter, dovish) are next on the US calendar.

The upside momentum in the pair has extended further north of the critical 1.1100 handle against the backdrop of a weaker buck and optimism from the recently clinched Brexit deal. However, it is worth recalling that the positive 3-week streak in spot has been exclusively sponsored by the renewed offered bias in the Dollar and that the outlook in Euroland continues to deteriorate and does nothing but justify the ‘looser for longer’ monetary stance by the ECB and the bearish view on the single currency in the longer run. In addition, the possibility that the German economy could slip into recession in Q3 remains a palpable risk for the outlook and is expected to weigh further on EUR.

At the moment, the pair is losing 0.01% at 1.1124 and faces the next barrier at 1.1139 (monthly high Oct.17) seconded by 1.1163 (high Aug.26) and finally 1.1186 (61.8% Fibo of the 2017-2018 rally). On the flip side, a break below 1.1050 (21-day SMA) would target 1.0994 (21-day SMA) en route to 1.0879 (2019 low Oct.1).



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The intermolecular forces responsible for the function of various kinds of stickers and sticky tape fall into the categories of chemical adhesion, dispersive adhesion, and diffusive adhesion. In addition to the cumulative magnitudes of these intermolecular forces, there are also certain emergent mechanical effects. Contents 1 Surface energy 2 Mechanisms 2.1 Mechanical 2.2 Chemical 2.3 Dispersive 2.4 Electrostatic 2.5 Diffusive 3 Strength 4 Other effects 4.1 Stringing 4.2 Microstructures 4.3 Hysteresis 4.4 Wettability and adsorption 4.5 Lateral adhesion 5 See also 6 References 7 Further reading Surface energy   Diagram of various cases of cleavage, with each unique species labeled. A: γ = (1/2)W11 B: W12 = γ1 + γ2 – γ12 C: γ12 = (1/2)W121 = (1/2)W212 D: W12 + W33 – W13 – W23 = W132. Surface energy is conventionally defined as the work that is required to build an area of a particular surface. Another way to view the surface energy is to relate it to the work required to cleave a bulk sample, creating two surfaces. If the new surfaces are identical, the surface energy γ of each surface is equal to half the work of cleavage, W: γ = (1/2)W11. If the surfaces are unequal, the Young-Dupré equation applies: W12 = γ1 + γ2 – γ12, where γ1 and γ2 are the surface energies of the two new surfaces, and γ12 is the interfacial energy. This methodology can also be used to discuss cleavage that happens in another medium: γ12 = (1/2)W121 = (1/2)W212. These two energy quantities refer to the energy that is needed to cleave one species into two pieces while it is contained in a medium of the other species. Likewise for a three species system: γ13 + γ23 – γ12 = W12 + W33 – W13 – W23 = W132, where W132 is the energy of cleaving species 1 from species 2 in a medium of species 3.[2] A basic understanding of the terminology of cleavage energy, surface energy, and surface tension is very helpful for understanding the physical state and the events that happen at a given surface, but as discussed below, the theory of these variables also yields some interesting effects that concern the practicality of adhesive surfaces in relation to their surroundings.[2] Mechanisms There is no single theory covering adhesion, and particular mechanisms are specific to particular material scenarios. Five mechanisms of adhesion have been proposed to explain why one material sticks to another: Mechanical Adhesive materials fill the voids or pores of the surfaces and hold surfaces together by interlocking. Other interlocking phenomena are observed on different length scales. Sewing is an example of two materials forming a large scale mechanical bond, velcro forms one on a medium scale, and some textile adhesives (glue) form one at a small scale. Chemical Two materials may form a compound at the joint. The strongest joints are where atoms of the two materials share or swap electrons (known respectively as covalent bonding or ionic bonding). A weaker bond is formed if a hydrogen atom in one molecule is attracted to an atom of nitrogen, oxygen, or fluorine in another molecule, a phenomenon called hydrogen bonding. Chemical adhesion occurs when the surface atoms of two separate surfaces form ionic, covalent, or hydrogen bonds. The engineering principle behind chemical adhesion in this sense is fairly straightforward: if surface molecules can bond, then the surfaces will be bonded together by a network of these bonds. It bears mentioning that these attractive ionic and covalent forces are effective over only very small distances – less than a nanometer. This means in general not only that surfaces with the potential for chemical bonding need to be brought very close together, but also that these bonds are fairly brittle, since the surfaces then need to be kept close together.[3] Dispersive Main article: Dispersive adhesion In dispersive adhesion, also known as physisorption, two materials are held together by van der Waals forces: the attraction between two molecules, each of which has a region of slight positive and negative charge. In the simple case, such molecules are therefore polar with respect to average charge density, although in larger or more complex molecules, there may be multiple "poles" or regions of greater positive or negative charge. These positive and negative poles may be a permanent property of a molecule (Keesom forces) or a transient effect which can occur in any molecule, as the random movement of electrons within the molecules may result in a temporary concentration of electrons in one region (London forces).   Cohesion causes water to form drops, surface tension causes them to be nearly spherical, and adhesion keeps the drops in place.   Water droplets are flatter on a Hibiscus flower which shows better adhesion. In surface science, the term adhesion almost always refers to dispersive adhesion. In a typical solid-liquid-gas system (such as a drop of liquid on a solid surrounded by air) the contact angle is used to evaluate adhesiveness indirectly, while a Centrifugal Adhesion Balance allows for direct quantitative adhesion measurements. Generally, cases where the contact angle is low are considered of higher adhesion per unit area. This approach assumes that the lower contact angle corresponds to a higher surface energy.[4] Theoretically, the more exact relation between contact angle and work of adhesion is more involved and is given by the Young-Dupre equation. The contact angle of the three-phase system is a function not only of dispersive adhesion (interaction between the molecules in the liquid and the molecules in the solid) but also cohesion (interaction between the liquid molecules themselves). Strong adhesion and weak cohesion results in a high degree of wetting, a lyophilic condition with low measured contact angles. Conversely, weak adhesion and strong cohesion results in lyophobic conditions with high measured contact angles and poor wetting. London dispersion forces are particularly useful for the function of adhesive devices, because they don't require either surface to have any permanent polarity. They were described in the 1930s by Fritz London, and have been observed by many researchers. Dispersive forces are a consequence of statistical quantum mechanics. London theorized that attractive forces between molecules that cannot be explained by ionic or covalent interaction can be caused by polar moments within molecules. Multipoles could account for attraction between molecules having permanent multipole moments that participate in electrostatic interaction. However, experimental data showed that many of the compounds observed to experience van der Waals forces had no multipoles at all. London suggested that momentary dipoles are induced purely by virtue of molecules being in proximity to one another. By solving the quantum mechanical system of two electrons as harmonic oscillators at some finite distance from one another, being displaced about their respective rest positions and interacting with each other's fields, London showed that the energy of this system is given by: E=3hν−34hνα2R6{\displaystyle E=3h\nu -{\frac {3}{4}}{\frac {h\nu \alpha ^{2}}{R^{6}}}} While the first term is simply the zero-point energy, the negative second term describes an attractive force between neighboring oscillators. The same argument can also be extended to a large number of coupled oscillators, and thus skirts issues that would negate the large scale attractive effects of permanent dipoles cancelling through symmetry, in particular. The additive nature of the dispersion effect has another useful consequence. Consider a single such dispersive dipole, referred to as the origin dipole. Since any origin dipole is inherently oriented so as to be attracted to the adjacent dipoles it induces, while the other, more distant dipoles are not correlated with the original dipole by any phase relation (thus on average contributing nothing), there is a net attractive force in a bulk of such particles. When considering identical particles, this is called cohesive force.[5] When discussing adhesion, this theory needs to be converted into terms relating to surfaces. If there is a net attractive energy of cohesion in a bulk of similar molecules, then cleaving this bulk to produce two surfaces will yield surfaces with a dispersive surface energy, since the form of the energy remain the same. This theory provides a basis for the existence of van der Waals forces at the surface, which exist between any molecules having electrons. These forces are easily observed through the spontaneous jumping of smooth surfaces into contact. Smooth surfaces of mica, gold, various polymers and solid gelatin solutions do not stay apart when their separating becomes small enough – on the order of 1–10 nm. The equation describing these attractions was predicted in the 1930s by De Boer and Hamaker:[3] Parea=−A24πz3{\displaystyle {\frac {P}{area}}=-{\frac {A}{24\pi z^{3}}}} where P is the force (negative for attraction), z is the separation distance, and A is a material-specific constant called the Hamaker constant.   The two stages of PDMS microstructure collapse due to van der Waals attractions. The PDMS stamp is indicated by the hatched region, and the substrate is indicated by the shaded region. A) The PDMS stamp is placed on a substrate with the "roof" elevated. B) Van der Waals attractions make roof collapse energetically favorable for PDMS stamp. The effect is also apparent in experiments where a polydimethylsiloxane (PDMS) stamp is made with small periodic post structures. The surface with the posts is placed face down on a smooth surface, such that the surface area in between each post is elevated above the smooth surface, like a roof supported by columns. Because of these attractive dispersive forces between the PDMS and the smooth substrate, the elevated surface – or “roof” – collapses down onto the substrate without any external force aside from the van der Waals attraction.[6] Simple smooth polymer surfaces – without any microstructures – are commonly used for these dispersive adhesive properties. Decals and stickers that adhere to glass without using any chemical adhesives are fairly common as toys and decorations and useful as removable labels because they do not rapidly lose their adhesive properties, as do sticky tapes that use adhesive chemical compounds. It is important to note that these forces also act over very small distances – 99% of the work necessary to break van der Waals bonds is done once surfaces are pulled more than a nanometer apart.[3] As a result of this limited motion in both the van der Waals and ionic/covalent bonding situations, practical effectiveness of adhesion due to either or both of these interactions leaves much to be desired. Once a crack is initiated, it propagates easily along the interface because of the brittle nature of the interfacial bonds.[7] As an additional consequence, increasing surface area often does little to enhance the strength of the adhesion in this situation. This follows from the aforementioned crack failure – the stress at the interface is not uniformly distributed, but rather concentrated at the area of failure.[3] Electrostatic Some conducting materials may pass electrons to form a difference in electrical charge at the joint. This results in a structure similar to a capacitor and creates an attractive electrostatic force between the materials. Diffusive Some materials may merge at the joint by diffusion. This may occur when the molecules of both materials are mobile and soluble in each other. This would be particularly effective with polymer chains where one end of the molecule diffuses into the other material. It is also the mechanism involved in sintering. When metal or ceramic powders are pressed together and heated, atoms diffuse from one particle to the next. This joins the particles into one.   The interface is indicated by the dotted line. A) Non-crosslinked polymers are somewhat free to diffuse across the interface. One loop and two distal tails are seen diffusing. B) Crosslinked polymers not free enough to diffuse. C) "Scissed" polymers very free, with many tails extending across the interface. Diffusive forces are somewhat like mechanical tethering at the molecular level. Diffusive bonding occurs when species from one surface penetrate into an adjacent surface while still being bound to the phase of their surface of origin. One instructive example is that of polymer-on-polymer surfaces. Diffusive bonding in polymer-on-polymer surfaces is the result of sections of polymer chains from one surface interdigitating with those of an adjacent surface. The freedom of movement of the polymers has a strong effect on their ability to interdigitate, and hence, on diffusive bonding. For example, cross-linked polymers are less capable of diffusion and interdigitation because they are bonded together at many points of contact, and are not free to twist into the adjacent surface. Uncrosslinked polymers (thermoplastics), on the other hand are freer to wander into the adjacent phase by extending tails and loops across the interface. Another circumstance under which diffusive bonding occurs is “scission”. Chain scission is the cutting up of polymer chains, resulting in a higher concentration of distal tails. The heightened concentration of these chain ends gives rise to a heightened concentration of polymer tails extending across the interface. Scission is easily achieved by ultraviolet irradiation in the presence of oxygen gas, which suggests that adhesive devices employing diffusive bonding actually benefit from prolonged exposure to heat/light and air. The longer such a device is exposed to these conditions, the more tails are scissed and branch out across the interface. Once across the interface, the tails and loops form whatever bonds are favorable. In the case of polymer-on-polymer surfaces, this means more van der Waals forces. While these may be brittle, they are quite strong when a large network of these bonds is formed. The outermost layer of each surface plays a crucial role in the adhesive properties of such interfaces, as even a tiny amount of interdigitation – as little as one or two tails of 1.25 angstrom length – can increase the van der Waals bonds by an order of magnitude.[8] Strength The strength of the adhesion between two materials depends on which of the above mechanisms occur between the two materials, and the surface area over which the two materials contact. Materials that wet against each other tend to have a larger contact area than those that do not. Wetting depends on the surface energy of the materials. Low surface energy materials such as polyethylene, polypropylene, polytetrafluoroethylene and polyoxymethylene are difficult to bond without special surface preparation. Another factor determining the strength of an adhesive contact is its shape. Adhesive contacts of complex shape begin to detach at the "edges" of the contact area[9]. The process of destruction of adhesive contacts can be seen in the film[10]. Other effects In concert with the primary surface forces described above, there are several circumstantial effects in play. While the forces themselves each contribute to the magnitude of the adhesion between the surfaces, the following play a crucial role in the overall strength and reliability of an adhesive device. Stringing   Fingering process. The hatched area is the receiving substrate, the dotted strip is the tape, and the shaded area in between is the adhesive chemical layer. The arrow indicates the direction of propagation for the fracture. Stringing is perhaps the most crucial of these effects, and is often seen on adhesive tapes. Stringing occurs when a separation of two surfaces is beginning and molecules at the interface bridge out across the gap, rather than cracking like the interface itself. The most significant consequence of this effect is the restraint of the crack. By providing the otherwise brittle interfacial bonds with some flexibility, the molecules that are stringing across the gap can stop the crack from propagating.[3] Another way to understand this phenomenon is by comparing it to the stress concentration at the point of failure mentioned earlier. Since the stress is now spread out over some area, the stress at any given point has less of a chance of overwhelming the total adhesive force between the surfaces. If failure does occur at an interface containing a viscoelastic adhesive agent, and a crack does propagate, it happens by a gradual process called “fingering”, rather than a rapid, brittle fracture.[7] Stringing can apply to both the diffusive bonding regime and the chemical bonding regime. The strings of molecules bridging across the gap would either be the molecules that had earlier diffused across the interface or the viscoelastic adhesive, provided that there was a significant volume of it at the interface. Microstructures The interplay of molecular scale mechanisms and hierarchical surface structures is known to result in high levels of static friction and bonding between pairs of surfaces [11]. Technologically advanced adhesive devices sometimes make use of microstructures on surfaces, such as tightly packed periodic posts. These are biomimetic technologies inspired by the adhesive abilities of the feet of various arthropods and vertebrates (most notably, geckos). By intermixing periodic breaks into smooth, adhesive surfaces, the interface acquires valuable crack-arresting properties. Because crack initiation requires much greater stress than does crack propagation, surfaces like these are much harder to separate, as a new crack has to be restarted every time the next individual microstructure is reached.[12] Hysteresis Hysteresis, in this case, refers to the restructuring of the adhesive interface over some period of time, with the result being that the work needed to separate two surfaces is greater than the work that was gained by bringing them together (W > γ1 + γ2). For the most part, this is a phenomenon associated with diffusive bonding. The more time is given for a pair of surfaces exhibiting diffusive bonding to restructure, the more diffusion will occur, the stronger the adhesion will become. The aforementioned reaction of certain polymer-on-polymer surfaces to ultraviolet radiation and oxygen gas is an instance of hysteresis, but it will also happen over time without those factors. In addition to being able to observe hysteresis by determining if W > γ1 + γ2 is true, one can also find evidence of it by performing “stop-start” measurements. In these experiments, two surfaces slide against one another continuously and occasionally stopped for some measured amount of time. Results from experiments on polymer-on-polymer surfaces show that if the stopping time is short enough, resumption of smooth sliding is easy. If, however, the stopping time exceeds some limit, there is an initial increase of resistance to motion, indicating that the stopping time was sufficient for the surfaces to restructure.[8] Wettability and adsorption Some atmospheric effects on the functionality of adhesive devices can be characterized by following the theory of surface energy and interfacial tension. It is known that γ12 = (1/2)W121 = (1/2)W212. If γ12 is high, then each species finds it favorable to cohere while in contact with a foreign species, rather than dissociate and mix with the other. If this is true, then it follows that when the interfacial tension is high, the force of adhesion is weak, since each species does not find it favorable to bond to the other. The interfacial tension of a liquid and a solid is directly related to the liquid's wettability (relative to the solid), and thus one can extrapolate that cohesion increases in non-wetting liquids and decreases in wetting liquids. One example that verifies this is polydimethyl siloxane rubber, which has a work of self-adhesion of 43.6 mJ/m2 in air, 74 mJ/m2 in water (a nonwetting liquid) and 6 mJ/m2 in methanol (a wetting liquid). This argument can be extended to the idea that when a surface is in a medium with which binding is favorable, it will be less likely to adhere to another surface, since the medium is taking up the potential sites on the surface that would otherwise be available to adhere to another surface. Naturally this applies very strongly to wetting liquids, but also to gas molecules that could adsorb onto the surface in question, thereby occupying potential adhesion sites. This last point is actually fairly intuitive: Leaving an adhesive exposed to air too long gets it dirty, and its adhesive strength will decrease. This is observed in the experiment: when mica is cleaved in air, its cleavage energy, W121 or Wmica/air/mica, is smaller than the cleavage energy in vacuum, Wmica/vac/mica, by a factor of 13.[3] Lateral adhesion Lateral adhesion is the adhesion associated with sliding one object on a substrate such as sliding a drop on a surface. When the two objects are solids, either with or without a liquid between them, the lateral adhesion is described as friction. However, the behavior of lateral adhesion between a drop and a surface is tribologically very different from friction between solids, and the naturally adhesive contact between a flat surface and a liquid drop makes the lateral adhesion in this case, an individual field. Lateral adhesion can be measured using the centrifugal adhesion balance (CAB),[13][14] which uses a combination of centrifugal and gravitational forces to decouple the normal and lateral forces in the problem. See also Adhesive Adhesive bonding Bacterial adhesin Capillary action Cell adhesion Contact mechanics Fracture mechanics Galling Insect adhesion Meniscus Mucoadhesion Pressure-sensitive adhesive Rail adhesion Synthetic setae Cohesion number References   Vert, Michel; Doi, Yoshiharu; Hellwich, Karl-Heinz; Hess, Michael; Hodge, Philip; Kubisa, Przemyslaw; Rinaudo, Marguerite; Schué, François (2012). "Terminology for biorelated polymers and applications (IUPAC Recommendations 2012)" (PDF). Pure and Applied Chemistry. 84 (2): 377–410. doi:10.1351/PAC-REC-10-12-04.   J. N. Israelachvili, Intermolecular and Surface Forces (Academic Press, New York, 1985). chap. 15.   K. Kendall (1994). "Adhesion: Molecules and Mechanics". Science. 263 (5154): 1720–5. doi:10.1126/science.263.5154.1720. PMID 17795378.   Laurén, Susanna. "What is required for good adhesion?". blog.biolinscientific.com. Retrieved 2019-12-31.   F. London, "The General Theory of Molecular Forces" (1936).   Y. Y. Huang; Zhou, Weixing; Hsia, K. J.; Menard, Etienne; Park, Jang-Ung; Rogers, John A.; Alleyne, Andrew G. (2005). "Stamp Collapse in Soft Lithography" (PDF). Langmuir. 21 (17): 8058–68. doi:10.1021/la0502185. PMID 16089420.   Bi-min Zhang Newby, Manoj K. Chaudhury and Hugh R. Brown (1995). "Macroscopic Evidence of the Effect of Interfacial Slippage on Adhesion" (PDF). Science. 269 (5229): 1407–9. doi:10.1126/science.269.5229.1407. PMID 17731150.   N. Maeda; Chen, N; Tirrell, M; Israelachvili, JN (2002). "Adhesion and Friction Mechanisms of Polymer-on-Polymer Surfaces". Science. 297 (5580): 379–82. doi:10.1126/science.1072378. PMID 12130780.   Popov, Valentin L.; Pohrt, Roman; Li, Qiang (2017-09-01). "Strength of adhesive contacts: Influence of contact geometry and material gradients". Friction. 5 (3): 308–325. doi:10.1007/s40544-017-0177-3. ISSN 2223-7690.   Friction Physics (2017-12-06), Science friction: Adhesion of complex shapes, retrieved 2017-12-30   Static Friction at Fractal Interfaces Tribology International 2016, Volume 93   A. Majmuder; Ghatak, A.; Sharma, A. (2007). "Microfluidic Adhesion Induced by Subsurface Microstructures". Science. 318 (5848): 258–61. doi:10.1126/science.1145839. PMID 17932295.   Tadmor, Rafael (2009). "Measurement of Lateral Adhesion Forces at the Interface between a Liquid Drop and a Substrate". Physical Review Letters. 103 (26): 266101. doi:10.1103/physrevlett.103.266101. PMID 20366322.   Tadmor, Rafael; Das, Ratul; Gulec, Semih; Liu, Jie; E. N’guessan, Hartmann; Shah, Meet; S. Wasnik, Priyanka; Yadav, Sakshi B. (2017-04-18). "Solid–Liquid Work of Adhesion". Langmuir. 33 (15): 3594–3600. doi:10.1021/acs.langmuir.6b04437. ISSN 0743-7463. PMID 28121158. Further reading
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