Monthly ArchivesDecember 2019 - Forex Broker LiteForex Nigeria

Technical Market Overview: After the deep retracement to the level of 61% Fibonacci located at 1.1065 the EUR/USD pair has been rallying towards the swing high located at the level of 1.1199. This high has been violated and a new local high was made at the level of 1.1210. Please notice, the bulls are now […]

Trading Recommendation Entry: 1.32024 Reason for Entry: 100% Fibonacci extension, horizontal swing high resistance, 61.8% fibonacci retracement Take Profit : 1.31000 Reason for Take Profit: 78.6% Fibonacci retracement, 100% fibonacci extension, horizontal overlap support Stop Loss: 1.32700 Reason for Stop loss: horizontal swing high resistance, 76.4% fibonacci retracement

Trading Recommendation Entry: 1.2957 Reason for Entry: Horizontal pullback support, 38.2%, 78.6% Fibonacci retracement Take Profit : 1.3242 Reason for Take Profit: 61.8% fibonacci extension Stop Loss: 1.2757 Reason for Stop loss: Horizontal swing low support, 50% Fibonacci retracement

When the European market opens, some economic data will be released such as German Import Prices m/m. The US will also publish the economic data such as Treasury Currency Report, New Home Sales, Durable Goods Orders m/m, and Core Durable Goods Orders m/m, so amid the reports, the EUR/USD pair will move with low to […]

In Asia, Japan will release the All Industries Activity m/m and the US will also publish some economic data such as Treasury Currency Report, New Home Sales, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. […]

Trading Recommendation Entry: 142.875 Reason for Entry: previous breakout level, 23.6% Fibonacci retracement Take Profit : 141.020 Reason for Take Profit: horizontal overlap support Stop Loss: 144.223 Reason for Stop loss: horizontal swing high resistance

Crypto Industry News: The Iranian president proposed the creation of a Muslim cryptocurrency as one of many ways to oppose US economic dominance. Speaking at an Islamic conference in Malaysia, Iranian President Hassan Rouhani called on Muslim nations to strengthen financial and trade cooperation and to reduce dependence on the US dollar, according to a […]

The GBP/USD pair has made another lower low after the battle of 61% Fibonacci retracement on the weekly timeframe has been lost by bulls. The bears have managed to push the prices below the technical support located at the level of 1.3101 and made a new local low at the level of 1.2988. Moreover, the […]

After the breakout below the short-term trend line support (thick orange line), the EUR/USD pair is now consolidating in a narrow range located between the levels of 1.1106 -1.1140. The bulls are still in control of the market, at least at the lower timeframes, but bears have managed to make another lower low at the […]