The dollar again led the yen on Wednesday. During the day, the US currency added 41 pips to its assets. At the end of the session, one dollar swapped to 109.81 Japanese yen. The opening rate was 109.40 and the bottom of the day the rate was at level 109.11. Several times during the day the resistance at 109.63 was breached, but only the last one was confirmed with a daily peak of 109.87.
i recently went to a trading seminar and the guy said: - u can either trade using tech analysis or fundamental analysis. - either way u only need to concentrate on one and NOT both. is that really true when it comes to forex?
Ignored
I can only speak for myself; I trade intraday and I pay zero attention to the fundamentals or even whether there are any high-impact news releases that day. The only time I've ever looked at interest rate decisions or other high-impact releases was when I was attempting to trade the news. I think it mostly depends on whether you're an intraday trader or a longer-term trader.
There are traders that will say you can't be profitable unless you incorporate macro view of the fundamentals but I think they're mostly speaking for themselves for their method and style of trading.
There is no right or wrong in trading but instead, what works or doesn't work for you.
The US dollar recorded a significant increase against the Japanese yen Thursday. The session started at 109.55 and the dollar added 136 pips. Daytime extreme values were reached at 109.26 and 110.97, respectively. If the direction goes up we can expect a resistance test at 110.00 levels.
The dollar / yen made a strong upward movement yesterday with a peak of 110.97 and hit 111.26 earlier this morning. The price breaks above the resistance trend line, as you can see in the four-hour chart, which should cancel out the downside. I'm still not in the Bulls camp, but short-term alerts are bullish with targets in the 111.70 - 112.15 area. The closest support is at 110.80. A clear break below it could take the price to a neutral trading area, but only a clear break below 110.35 will halt the current short-term bullish prospects.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 110.91, losing 0.02%. I believe that support is now at around 108.81, the minimum of Wednesday, and the resistance is likely at 111.42, the high of Friday's trading.
Here's a quote from his Marber on Markets book: "Most technical analysts were originally fundamental analysts, I've never heard of anyone who made the journey in the opposite direction."
Ignored
This was quoted on the first page of the thread, 8 years ago, but the thread's still active, and the second part of it is still true: I also don't know anyone, or know of anyone, who went from being a technical analyst to being a fundamental analyst. That isn't to say that there isn't a single person of whom that's so, of course, but they'd be a very rare exception.
The first part of it, however, is still untrue: it's nonsense to assert that most technical analysts were originally fundamental analysts. People in the industry who train as and become technical analysts have typically never been fundamental analysts at all. So either Marber has that completely wrong or was being quoted above completely out of context.
The dollar-yen currency pair recorded a volatile session, with a modest 9-point victory for the Japanese currency. The day was opened at 111.52, and the last day's quote remained at 111.43. Breakthroughs at key levels were not reached, and the daily extreme values were respectively 111.30 and 111.78.
Another volatile session recorded the dollar-yen currency pair, with the 7 pips advantage for the Japanese currency. The day was opened at 111.44, and the last quote for the day stood at 111.37. Shortly during the day the course was under the support at 111.20, but the bears did not keep it there. Extreme values for the day were 111.06 and 111.72 respectively.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 111.29, losing 0.04%. I believe that support is now at around 110.73, Monday's low, and resistance is likely at 111.81, Tuesday's high.
The US dollar marked an increase against the Japanese yen on Monday. The session started at 111.23 and ended at 111.85. Daytime extreme values were reached at 111.12 and 111.94, respectively. If the direction of movement continues to move upward, we can expect an attempt to test the resistance at 114.00.
The US dollar recorded a significant rise against the Japanese yen on Monday. The currency pair added 129 pips at a closing price of 113.37. The chart continued to grow above the creeping mean, while the relative strength index remained neutral. If the direction continues, the pair will probably break the resistance at 114.00.
The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 113.91, gaining 0.61%. I believe that support is now at the level of 111.92, Monday's low, and the resistance is likely at 114.18 - the maximum of Friday's trading.
i recently went to a trading seminar and the guy said: - u can either trade using tech analysis or fundamental analysis. - either way u only need to concentrate on one and NOT both. is that really true when it comes to forex?
Ignored
I use both kind of trading analysis! For the reason that, I hardly believe only technical or fundamental is not enough here! My technical knowledge helps me to know about valid swing points of market! Besides, fundamental guides me on market trend.
i recently went to a trading seminar and the guy said: - u can either trade using tech analysis or fundamental analysis. - either way u only need to concentrate on one and NOT both. is that really true when it comes to forex?
Ignored
1.You can look at the opposite sex. Then finish the job with your hands
2. Cover the top and fire the base. Signs of desperation
To have a good healthy baby, try to do both.
fundamentals, have as much as possible. technical indicators, minimum - say below a hand full.
Yes, I do believe that depending on your style, you are either a technical or fundamental trader. But being a fundamental (technical) trader doesn't mean you wouldn't incorporate technical (fundamental) analysis in your trading plan.
