Skip to main content

Forex Trading Tips And Strategies For The Week of July 15-31, 2023

Here are some forex trading tips and strategies for the week of July 15-31, 2023:


Pay attention to economic data.

There are a number of important economic releases scheduled for this week, including the US non-farm payrolls report on July 15, the European Central Bank (ECB) monetary policy meeting on July 21, and the US unemployment rate report on July 28. These releases can have a significant impact on currency markets, so it's important to be aware of them and factor them into your trading decisions.

Trade with the trend.

This is a basic but important trading principle. When the trend is up, look to buy. When the trend is down, look to sell. Trying to trade against the trend is usually a recipe for failure.

Use stop losses.

Stop losses are a way to limit your losses on a trade. When you place a stop loss, you're essentially telling your broker to sell your position if the price reaches a certain level. This can help you to protect your capital and avoid large losses.

Be patient.

Forex trading can be a volatile market, and prices can move quickly. It's important to be patient and not overtrade. If you're not patient, you're more likely to make impulsive decisions that can lead to losses.


Specific Trading Strategies That You Could Use During This Week:


Long the EUR/USD if the ECB announces a rate hike.

The ECB is widely expected to announce a rate hike on July 21. If the ECB does hike rates, it could boost the euro and put downward pressure on the US dollar.

Short the USD/JPY if US yields continue to rise.

US yields have been rising in recent weeks, and this could put downward pressure on the US dollar. If US yields continue to rise, the USD/JPY could fall.

Trade the AUD/USD on the back of Australian economic data.

There are a number of important Australian economic releases scheduled for this week, including the employment report on July 20 and the retail sales report on July 27. These releases could have a significant impact on the AUD/USD, so it's worth paying attention to them.

These are just a few tips and strategies that you could use during the week of July 15-31, 2023. It's important to do your own research and develop your own trading plan. However, these tips should give you a good starting point.


 

Comments

Popular posts from this blog

USDOLLAR to Benefit from Euro Summit Indecision

USDOLLAR to Benefit from Euro Summit Indecision European political leaders meet this Thursday for the 19th time to discuss the continent’s on-going sovereign debt crisis. A resolution to the crisis has been elusive with the strategy of austerity tipping weak economies into severe recessions. The weaker European Union economies are asking for lessened austerity measures and likely won’t receive it. This strategy stand-off could lead to a risk sell-off. In the event of risk sell off, the US Dollar stands to be the biggest beneficiary of Euro Summit indecision. Use the Donchian channel strategy to time entries and exits when buying the US Dollar. Last week, twitter was lit up with polls about how 55% of Germans want to abandon the Euro and return to their own currency. Germans are becoming tired of bailing out other high spending countries and not receiving any confidence on a balanced budget in return. Many economists have talked about how a Euro breakout will cost more for the Germans ...

HOTTEST-Forex "Fire": Were you Alerted?

Stop the guess work with your moves in trading. LEARN THE FOREX TRADING PRECISION TODAY! Get your boarding pass to forex precision now here: ----------------------------------------------- http://www.theforexmind.com/special/fxexperts.html ----------------------------------------------- I clearly understand you want to succeed in forex business . BUT how effectively you do it ? Learn directly from the world's BEST traders when they reveal their ONE most proven  profitable strategies every month: ----------------------------------------------- http://www.theforexmind.com/special/fxexperts.html ----------------------------------------------- Sincerest regards, Hans McKonaughey Forexzin & The Forex Mind owner Sharing you ways how to be on top of the world: ----------------------------------------------- http://www.theforexmind.com/special/fxexperts....

Main Drawbacks of Forex Traders

Main Drawbacks of Forex Traders from: straightforex.com Why is it that very few traders succeed in the Forex trading environment while the grand majority of traders fail to achieve success? There is no hard answer to this question, there are a few things that will put you one step ahead and will definitely put the odds in your favor. The main purpose of this article is to guide you through some important aspects of Forex trading. But in a different way, instead of telling you what to do or the best way to do it, it will tell you what to avoid. Sometimes it is better to identify the main drawbacks on a discipline and then isolate them so we have the best results at a certain level of development. The Holy Grail Many traders spend years and years trying to find the Holy Grail of trading. That magic indicator or set of indicators, only known by a few traders, that will make them rich in a short period of time. Fact: Well, there is no magic indicator, nor ...