Economic Calendar And Forex Trading: Texas Insights – In this space, I aim to provide you with timely and insightful updates on the performance of various assets in forex, commodities, stocks and cryptocurrencies. My priority is to keep you informed and enable you to make informed decisions, so let’s embark on this trading journey together!
The economic calendar for the coming week shows a number of important events that could have a significant impact on foreign exchange, commodity and equity markets.
Economic Calendar And Forex Trading: Texas Insights
On Monday, July 24, the German manufacturing PMI will be released, with a forecast of 40.6 and a previous reading of 40.3. This indicator is an important measure of the health of the German manufacturing sector, which is a key driver of the European economy. If the actual value is higher than forecast, this could be a positive sign for the Eurozone and lead to a stronger Euro against other currencies.
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Germany’s Dax is currently in the process of creating more patterns. First, the ascending wedge pattern (in blue) covering the closing price during this consolidation period may favor a further upward move above the daily fractal resistance level coined at $16242. On the other hand, the formation of a three-drive pattern, which depends on the establishment of a new high above the fractal level, could potentially reverse Dax’s direction. This pattern suggests a possible decline that will bring the index back to the $15990 level.
We should also pay attention to the gradual approach to the weekly fractal resistance level at $16421, which corresponds to the previous highs reached on June 16. A breakout of this weekly resistance level could be another possible scenario in case the three drive pattern formation fails.
On Tuesday, July 25, the US CB Consumer Confidence indicator will be released, with a forecast of 109.7 and a previous reading of 113.0. This indicator is an important measure of consumer sentiment and can have…
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3 Best Smart Money Trading Strategies (Advanced) We will cover the entire trading plan including the 3 best smart money trading strategies known as sniper entries. If you are learning… The world of Forex trading can be complex and finding the right broker is essential to a successful trading experience. In recent years, ECN Forex brokers have become popular among traders due to their unique approach to trading. In this article, we will explore how ECN brokers work, the pros and cons of using them, and highlight the best ECN Forex brokers according to Traders Union.
ECN brokers, or electronic communications network brokers, connect traders directly with liquidity providers such as banks and financial institutions, bypassing traditional market makers. This direct connection enables faster execution of trades, more competitive prices and greater transparency, as the broker does not trade against the client.
Global Economic Prospects, June 2022 By World Bank Group Publications
According to Traders Union experts, choosing the best ECN broker involves considering several important criteria to ensure that the broker meets a trader’s needs and goals. Some key factors to consider include the following:
By carefully evaluating these criteria, traders can make an informed decision and choose the ECN broker that best suits their needs and preferences.
FXOpen is a reputable ECN broker founded in 2003 that offers competitive trading conditions, innovative technologies and a wide range of financial services to meet the needs of various traders.
RoboForex is a leading Forex and CFD broker that offers a number of earning opportunities to both beginners and professional traders, including a Forex bot builder and individual trading in Forex, stocks and cryptocurrencies.
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Exness is a well-established Forex broker since 2008 and has a leading position in Forex ratings. They offer a wide range of trading instruments, low commissions and instant order execution for traders of all experience levels.
Established in 2007, IC Markets is an Australian broker licensed by the Australian Securities and Investments Commission (ASIC). They offer a wide range of trading instruments and competitive pricing, making them a popular choice among ECN traders.
There are a total of 10 brokers listed on Trader Union. Each of them has its advantages. One of these brokers is LiteForex (LiteFinance). It is a high-tech company that offers innovative solutions for active and passive trading. As a reputable online ECN broker, LiteForex offers unique technical solutions for transferring transactions to interbank and directly to liquidity providers.
Understanding every aspect of ECN brokers is crucial for traders who want to get the most out of their Forex trading experience. By weighing the pros and cons and evaluating the top ECN Forex brokers, traders can make well-informed decisions that suit their unique trading needs. To learn more about ECN brokers and their offerings, visit the official Traders Union website for comprehensive information and resources.
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