LAGFX Forex Learning Lounge

2021-09-01 16:50:42 Oil slips 1% ahead of OPEC+ meeting
Prices of oil lost more than 1% on Wednesday ahead of the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies (OPEC+).

The cartel is reportedly likely to keep unchanged the plan to add 400,000 barrels per day each month until the end of the year.

West Texas Intermediate (WTI) for October delivery dropped 1.55% to sell for $67.44 per barrel at 9:24 am ET, and international benchmark Brent for settlements in November slid 1.28% to go for $70.69 per barrel a minute later.

Relevant Symbols - BRN & WBS Open / Comment

2021-08-26 14:41:27 Supply constraints, virus hinder recovery - ECB minutes
The economic recovery in the euro area is ongoing, but with "increasing evidence of supply constraints," the European Central Bank (ECB) said in its monetary policy meeting accounts released on Thursday.

(Big bullish spike in the USD) Open / Comment

2021-08-26 13:02:09 USD/CHF 1H - Simple but affective. Looking for a clear reaction of this downward trend-line drawn above in yellow.

Previous to this we have seen the price rally in a bullish manner. In which case has now been considered as over bought and supply has been met.

With this being what would be the third touch of a trend, I would be willing to place a short.

If we get confirmation via a candlestick formation I’ll be looking to place the short position.

My SL will be set around 8 pips above the trend-line and my TP will be set somewhere around the Demand zone highlighted in green.

This gives this trade a SL of no more than 20 pips and a TP of around 40 pips. Making this trade a 2:1 RR (Reward to Risk) Open / Comment

2021-08-26 12:21:42 GfK Consumer Confidence
The GfK Consumer Climate Indicator poll is designed to elicit information on respondents on income predictions, buying proclivity, and savings. The poll questions 2000 adults aged 14 years and older.

The indicator's components are determined as the difference between affirmative and negative responses to the questions posed.

Their value can range from -100 to +100 points, with zero reflecting the long-term average.

(It came out worse than expected) Act: -1.2 Cons: -0.7 Prev: -0.4

Relevant Symbols - EUR/— Open / Comment

2021-08-25 17:01:23 Moderna completes submission for full vaccine approval
Moderna Inc. announced on Wednesday that it has completed the rolling submission process for full approval to the United States Food and Drug Administration (FDA) for Americans 18 years of age and older.

The Biologics License Application (BLA) submission is the first in the history of the company, CEO Stephane Bancel pointed out. "In final analysis of Phase 3 COVE study data, the Moderna COVID-19 vaccine showed 93% efficacy, with the efficacy remaining durable through six months after administration of the second dose," the company specified.

Moderna has delivered more than 300 million doses to the US government so far under an Emergency Use Authorization (EUA) granted by the FDA in December 2020.

Relevant Symbols - MRNA +2.63% Open / Comment

2021-08-23 18:49:14 US rises further, Nasdaq, S&P reach new records
Major stock market indexes in the United States extended gains on Monday, with the Dow Jones Industrial Average jumping nearly 300 points, and the Nasdaq 100 and the S&P 500 climbing to new record highs.

Better-than-expected data on existing home sales in the country, as well as the the first full approval for a COVID-19 vaccine in the US, seemingly helped the investors brush off woes prompted by the spread of the Delta variant.

The Dow Jones was up by 0.74% or 260 points at 11:28 am ET, after soaring over 290 points minutes earlier. The Nasdaq 100 surged 1.23% a minute later, with the S&P 500 gaining 0.92% at the same time. Tesla and Apple led the gains, as they jumped 3.58% and 1.08%, respectively, at 11:31 am ET. The euro advanced by 0.26% compared to the dollar at 11:32 am ET, selling for 1.17148.

Relevant Symbols - EUR/USD +0.27% Open / Comment

2021-08-23 17:17:42 Pfizer jab gets FDA's full approval - report
The United States Food and Drug Administration (FDA) granted full approval to the COVID-19 vaccine developed by Pfizer/BioNTech, Washington Post reported on Monday, citing two people familiar with the matter.

The coronavirus shot was previously given Emergency Use Authorization by the FDA and is now the only COVID jab in the US with the agency's full approval. According to data compiled by the US Centers for Disease Control and Prevention (CDC), more than 200 million doses of the vaccine have been administered so far.

Pfizer's shares gained 2.42% at 9:44 am ET, while the stocks of BioNTech soared 9.94% at the same time.

Relevant Symbols - BNTX +9.47% Open / Comment

2021-08-22 16:36:03 This Weeks Fundamental Report by LAGFX

Monday is looking like it will be a very volatile start to the week. We recommend you keep a close eye on the scheduled PMI's for Monday morning. If the results of these deviate largely from our forecasts we can expect big shifts within the market.

As for the mid week, it is looking very steady fundamentally until we have the Jackson Hole Symposium meetings on Thursday and Friday which are highly respected.

Hope everyone has a great Trading week!
-@JamesLAGFX Open / Comment

2021-08-22 16:30:43 LAGFX's Take on the 3 - Step Approach to executing a trade within the markets.

Familiarise yourself with this and adapt this into your trading strategy. It is crucial we have a set approach before executing a trade with set parameters that need to be met.

This is the only way that we can really refine our success rate and therefore be profitable long-term. Open / Comment

2021-08-19 12:18:33 US lower premarket, Dow falls 350 points Equities on Wall Street traded lower in the premarket session on Thursday, as yesterday's comments on tapering and the state of the economy by the United States Federal Reserve continue to move markets. Meanwhile, Cisco… Open / Comment