Precious Metals Rally into the New Year

The new year started in a bullish mood, and precious metals surged on Monday as it looks like bullish fundamentals are finally starting to matter again.

Gold rose 2%, and silver jumped 4% at the time of writing. Still, it seems like gold has finally managed to cancel the medium-term downtrend as the bullion jumped above the strong bearish trendline, which has been limiting its upward movement since August. 

Thus, the short-term outlook now seems bullish, and if the price closes above this trend line on a weekly basis, the medium-term trend could also change to bullish.

Additionally, many analysts and traders have observed the multi-year bearish trend in commodities, which is ending nearly everywhere. Thus, most of the major commodities might start building their respective long-term uptrends.

That theory should be supported not only technically but fundamentally as well. As long as central banks continue to print a lot of money into the financial system, currencies will weaken, and that is the time for precious metals to shine. Real yields are also falling across the globe, while on the other hand, the amount of negative yields debt is rising sharply, along with deficits. 

Therefore, we might argue that a new bullish leg has started in precious metals, and they could rise for 10 to 15 weeks before correcting.  Dips could be bought in this environment, and gold’s new target will probably be August highs above 2,000 USD, while silver should aim to reclaim the 30 USD threshold. 

Discover more articles like this on Axiory.

12 Best Forex Trading Strategies

What is Best Forex trading strategies?

There are thousands if not millions of trading strategies or techniques, where each strategy is eventually a specific approach towards market analysis either technical or fundamental, considering news trading or defining pattern trading, etc.

  • Trading strategy is a definition of execution parameters so once they are met it is a signal for order placement or execution

Indeed, there are as many trading strategies as traders are, however, there are some ‘standard’ strategies or known practices that are commonly used and in most cases combine easy to use parameters yet showing great results. By the end of the day, you, as a trader is the ones who will define the strategy to use or might combine some known strategies into your own trading style, or even might become more sophisticated to apply unique practices.

All in all, trading prosperity is all about good education, discipline and constant development of knowledge, so always be sure to place your strategy at the test before you go live and adjust techniques according to your trading size.

  • Indicate that none of the strategies are perfect or 100% success performance.

So the ‘right’ recipe to your trading success is in your hands where all trading risks are considered and trading is approached in healthy and a good way. Besides, be sure to choose only among well-regulated brokers as a ‘wrong’ choice of your trading venue will definitely spoil everything, indeed scammers never sleep.

So here let us get to the point of 12 Best Forex Trading Strategies that are very popular and are highly used by both amateurs, beginners or trading professionals.

Best Forex Trading Strategies
Axiory Trading Platform

Forex Technique #1 – Day Trading

Day trading simply means that trading orders are held within a short time or within same day, intraday only, where trader targeting smaller swings of currency pairs or instruments through the use either indicators or specified execution signals, which are used within minutes or hours only and are closed before markets or exchanges closing its daily operation as well.

This method is widely traded by the professional traders and those that operate large size, also by traders that use swap-free accounts where overnight trading is prohibited while traders may use various indicators and analysis for trading itself.

Forex Technique #2 – Pattern Trader or Trend Trading

Pattern trader using a simple ability to read charts and does not specifically require the use of indicators. The books say that every instrument has its Pattern or a graph which swings and fluctuates in a harmonized way and showing ‘defined’ behavior which is possible to read. So Patter Trader usually uses ‘necked charts’ and analyses price movement that identifies behavior mainly in the long term. Using this style, positions may stay open for months or even years and mainly good for bigger size traders with good experience.

Forex Technique #3 – Swing Trading

Swing trading is another strategy that using mainly trend analysis and is a longer term trading since positions are held longer than a day that’s why it called swing. So in this strategy trader defines a significant movement of currency pair or other assets to the direction or another and places the order in its defined timeframe, which may take days, weeks or even months to achieve the goal.

Nevertheless, since you will keep positions overnight be sure you learn about the broker’s conditions and fee structure, as there is a specified swap or overnight fee defined by each instrument separately.

Forex Technique #4 – Range Trading

Eventually, range trading means that trader analysis and defines trading range where the price is swinging back and forth, so upper and lower levels are acting as support and resistance levels. The strategy works well as primary counts on technical analysis while uses Stochastics or Strength  Index or Channel Index indicators that say the price would rebound from the lower level and falling from the high one.

Forex Technique #5 – Price Action

Price Action is a great trading strategy as it does not involve any indicators or complicated ideas, simply you need to learn how to read a price chart and define its behavior that works in respect to mathematic rules of distribution and swings. As a result, strategy facilitate dynamic support and resistance levels where you would spot chart pattern so again you would buy lows and sell picks.

Forex Strategy #6 – Breakout

It is a quite simple technical analysis bases strategy, as it solely based on indicators like Bollinger band or moving average. The strategy might be helpful for those that prefer indicators use where the breakout of the lines either upper or down one will suggest that price is going to move into its ‘breaking’ direction.

Forex Strategy #6 – Liquidity trading

This method is also rather trend trading where the best execution will be defined by the level of liquidity. It requires a trader to identify and draw chart levels and liquidity swings with a purpose to catch the next rise of the liquidity that appears either with bearish or bullish directions. Also, this strategy usually using 2:1 ratios to take profit and stop loss which is suitable for many trading sizes and accounts as well.

Forex Technique #7 – Scalping

Scalping is a quite known technique and a term used by the traders that benefit by taking small and even very small profits but frequently, while mainly using short timeframes usually minutes. This strategy can be performed manually or through automatic trading via algorithms, yet it might be restricted in some regions and regulators so be sure to verify those as well.

Forex Technique #8 – Hedging

A great strategy that is usually used to protect positions where a trader holds both buying and selling positions simultaneously. Potentially it allows a trader to go long or go short and benefit from the successful trade, meaning you would close ‘wrong’ positing and can even re-enter at a better price. However, this strategy is also restricted at some regions so you would need maybe two different accounts in order to perform hedging.

Forex Technique #9 – Carry Trade

This is an interesting strategy as trader investing in one currency with a lower rate and following by trade of another currency pair or asset with a higher price. The result of the trade will be a positive profit between two trades where the length of the positions opened may take hours or even days or weeks. As entry or exit parameter trader may use confirmation from indicators or analysis that confirms the trend, as traders’ profit is eventually an interest rate between two orders.

Forex Technique #10 – Pivot Trade

This is great techniques as you would need only to see daily pivot levels on defined timeframes, yet strategy followers say daily chart works the best here. So the technique is rather simple as pivots show you the direction of the market either to bullish sentiment if price trading above the pivot point, and indicates bearish direction if the price goes below pivot daily point.

Forex Technique #11 – Trading Psychological levels

Psychological levels are actually round numbers that are very often key levels in Forex or other asset Charts. This technique is accurate to replicate how traders or human psychology works since there is a better reaction on rounded numbers. So trading round numbers or Psychological levels that are defined like support and resistance levels used for entry or exit of the positions.

Forex Technique #12 – Overbought and oversold

This strategy is based on mathematical price distribution where strategy mainly uses RSI (Relative Strength Index) that indicates if the market is overbought or oversold if it crosses defined ‘normal’ levels. Actually meaning that traders will use it as a signal that price is going to fall back or rebound.

MEX Exchange platform
MEX Exchange Platform

FP Markets Launches Traders Hub

FP Markets an international brokerage firm based and regulated in Australia operates over 15 years for now and constantly shows its great success along with the improvement of its conditions.

FP Markets vision stands at the connection of the best technology, consistently tight spreads and necessary tools that assist in better trading decisions. So with that combination FP Market traders can trade and improve, promising better outcomes in the long term.

Eventually, FP Markets did achieve that powerful proposal through diverse product range they offer with over 10,000 instruments, trading technology which also proved by awards they receive almost on a regular basis.

FP Markets Launches Traders Hub

What is Traders Hub?

So now enhancing its proposal further, since 18 February 2020 FP Markets launches Traders Hub, which is a new and very useful trading information center. A rich source of informative content designed to assist your everyday trading.  

As information resource Traders Hub is packed with latest and professional analysis provided by industry experts that consists of

  • Daily Fundamental Analysis
  • Daily Technical Analysis
  • Weekly Analysis
  • Trading Knowledge – with a range of articles, ebook and videos
  • Company News

Traders Hub is now available for all FM Markets traders from all jurisdictions across Europe, Middle East, Africa and Australia and designed to assist all levels from beginner to advanced traders.

Read more at the source by the link.

So Traders Hub definitely strengthens FP Markets offering as good trader is a smart trader that constantly improves its knowledge and getting deeper to the trading from different points.

FP Markets Launches Traders Hub

Eventually, FP Markets commitment and professional approach, combined with great pricing and environment they enable definitely worth consideration. There are indeed many brokers around nowadays, so you should only go with the one that is heavily regulated, in simple words safe. As well as trade with a broker that undergo regular improvements, so you can grow together with the company.

 Surely you may follow full FP Markets Review by the link and get to know about their offering in a detail.

eToro reduces fee for withdrawal to 5$

So we start with great news from one of the largest and very popular social trading broker eToro that delivers thousands of opportunities to invest, trade, copy or to be copied.

While eToro itself is a well-regulated, widely known and one of the biggest social trading communities, there were some cons on its offering. One of the serious once was a flat fee of 25$ for each withdrawal, which was quite high and often confusing for many traders.

And now announced eToro reduces fee for withdrawal by as much as 80%. Instead of 25$ now you will be charged a fee of just 5$ for withdrawals.

eToro reduce withdrawal fee

eToro reduces fee

In addition, eToro improves Withdrawal Dashboard and its informative text, where each withdrawal status and relevant links are provided. You may easily now check the breakdown of your payment, verify status, withdrawal fee information, cancel option and other relevant actions for smooth withdrawals. Read more at the source by the link.

So overall, we are also excited to hear great news about cost reduction from eToro payment, and what a great reduction, withdrawal is 5 times less expensive now. This act proves eToro strives to be a “human broker” and constantly strive to be better, so it definitely improves trading conditions for existing clients. And most likely will attract even more world traders to its already large bench.

eToro reduces fee
eToro lower fees

eToro social trading

In fact, eToro is not only an investing platform that gives numerous trading or investment opportunities to global traders. But also offers great access to the assets together with commission-free stocks, competitive pricing and some of the unique portfolios so traders of different levels of experience are most welcome.

Nevertheless, you may read full eToro Review by the link and learn about their general offering in a detail or read other traders comments. Also, check other CySEC regulated brokers for your consideration and remember always to choose the regulated broker for your safe experience.

FxPro extends McLaren F1TM partnership

FxPro a UK based and international broker announced its expansion of partnership or better to mention sponsorship of McLaren F1TM Racing Team.

It is already the second year in a row FxPro cooperates with McLaren and is eventually a historical partnership that continues to support both excellence and latest innovation. (You may read our FxPro news published back in 2018.)  

It is an interesting fact that both organizations sharing similar splendid achievements in the industry they operate, which makes cooperation a unique joint venture. The FxPro branding will now be placed to the front wing and cockpit of the McLaren F1TM racing cars participating in the Australian Grand Prix 2020. Read more about FxPro and McLaren F1TM partnership by the link.FxPro extends McLaren F1TM partnership

Needless to say that both organizations are thrilled for further achievements and even better challenges to come. As the FxPro process over 7,000 orders every second it knows perfectly well what technical capability and pressure mean, which is also another point on connection between FxPro and McLaren F1TM.

As Ilya Holeu, Chief Marketing Officer FxPro mentions:

“We are very excited about our continuing collaboration with McLaren starting from 2020. There is a powerful connection between the philosophies that underlie each of our companies, and here’s hoping it’s a great new year for both organizations, driven forward by even higher levels of determination, expertise and the all-important technological edge that makes the difference.”FxPro Review

Overall, FxPro as a trading brand and a quite widely known brokerage firm started its operation in 2006 and ever since shows its constant growth, appreciation to innovations and being famous for its client-centric approach. Among its numerous benefits and trading opportunities, we should admit great variety of assets to trade, unparalleled NDD execution and of course a pricing strategy they offer.

However, you may read full FxPro Exchange Review by the link and get to know about their offering in a detail in reverse proposing your professional trading solutions.

LMAX Exchange acquire Cyprus Broker

One of the leading FCA regulated FX brokers LMAX Exchange approved its purchase of Cyprus Broker – CB Capital Business Ltd in conclusion bringing better global expand for LMAX offering.

LMAX is an already well known professional trading service broker that builds its strong position within the industry and now together with accomplished deal broadens its presence to even further global covering.  Learn more about established LMAX Broker Europe CySEC license by the link.LMAX Exchange acquire Cyprus BrokerLMAX Exchange acquire Cyprus Broker

This important provision will bring not only better possibilities for regions like Middle East, Southern Europe and further, but also bring enhanced liquidity to brokers and market participants to better market access. LMAX Exchange Group already serves clients from over 100 world countries through its eleven world offices and makes all the necessary steps to efficient trading conditions even through Brexit or other possible outcomes ensuring LMAX clients remain unaffected. LMAX has always been strong with industry innovation, strict pricing and timing priority for orders, of course, fantastic execution and ultra-low latency, so still clients may benefit from comprehensive access to markets under any conditions.LMAX awards

Moreover, LMAX being one of the biggest global institutional exchanges and liquidity providers shows its constant growth in various directions and recently LMAX starts to publish its daily trading volumes on Cryptocurrency exchange. As LMAX said, it is an obvious surge in crypto trading activity across platforms that transact solid turnover and making new records, in reverse bringing higher volatility due to growing demands. So to get offering even better LMAX Digital is now placing market information about trading volumes and sizes in real time.

Generally, LMAX is a part of the global LMAX Exchange Group multiply regulated and awarded broker for its high standards and professional ability to trade through a central limit book. It means you will get tight lowest spreads and utmost liquidity due to proprietary trading platforms and companies LMAX work with. You may read full LMAX Exchange Review by the link and get to know about their offering in a detail in reverse proposing your professional trading solutions.

FXOpen accesses ECN trading through MT5

FXOpen launches access to ECN trading through the latest version of MT5 and participating in growing demand with many new functions, yet with a familiar user interface.

While MT5 or MetaTrader5 is a new generation of the market leading and widely popular MT4 platform developed by the MetaQuotes company. Together with its known powerful capabilities MT5 allows multi-asset enhanced trading features for Forex, Stocks and Futures trading with numerous superior tools and of course great charting MetaTrader is famous of.

You may discover more about FXOpen MT5 by following the link.FXOpen access ECN trading through MT5

Moreover, UK broker FXOpen now executes orders through electronic forex exchange giving access to ECN or Electronic Communication Network and to interbank liquidity. This enhancement brings vast possibilities either to various strategies or for algorithmic trading, of course by using popular EAs MT5 is also known for. As mentioned by the company, the platform allows not only to carry out comprehensive market analysis but allows power of over 80 technical indicators.

Although professional MT5 environment providing FXOpen traders with all that they may need for successful trading, there are also choices between accounts FXOpen offers. As well as a possibility to join the social trading environment through leading ZuluTrade or Myfxbook, in reverse expanding investment possibilities for either beginners or professionals even further.

FXOpen Review

FXOpen as one of the respected UK financial firms, also respectively overseen and regulated by FCA became a brokerage company that satisfies the most demanding appetites of traders. Its growing development and continuous expanding of services bringing transparent trading conditions and possibilities for traders of different size or level. Nevertheless, you may see detailed information through FXOpen Review available by the link and get to know about their trading conditions for your trading consideration.

Saxo Bank updates its OpenAPI

Saxo Bank as a Fintech industry-leading provider and European bank releases and updates its OpenAPI this week for a newer version.

Saxo Bank’s OpenAPI is a mainstay of proprietary trading platform SaxoTraderGO that gives comprehensive access to all resources and powerful functionally for the high-end performance of trading. Therefore, releasing a new version of OpenAPI as a core backbone of Saxo Bank technology and software, it automatically brings a better interaction to experiment with all API endpoints for traders good.

Discover more of the updated through Saxo Bank OpenAPI website by the link.

Saxo Bank updates its OpenAPI

OpenAPI changes include numerous enhancements alike new FX Order types with simplified order placement including an updated set of stop orders for both DMA and non-DMA trades. Also, Saxo completed the transition to general improvements with the release of new Application Management through new Apps, as well as the possibility to specify position placements. And that is among other rearrangements for better performance that receive more parameters than even expected.Saxo Bank broker review

Eventually, Saxo Bank as a multi-asset trading and investment organization operates already over 25 years on financial innovations, besides being a fully licensed European bank under the supervision of Denmark FSA. Saxo Bank is a true giant in the financial industry, as it manages not only comprehensive banking operations but is a professional partner and liquidity provider with a broad range of instruments or assets. Which all in all develops comprehensive features for trading and stays up to date to the newest innovations.

Overall, Saxo Bank became one of the most trusted names within the trading and financial industry that constantly improves its conditions and proposes professional access to investments. You may see detailed information by Saxo Bank Review accessible by the link and get to know about their trading conditions or overall information for your trading consideration.