A break and retest strategy is a popular approach by traders and investors focusing on price action. It involves waiting for a breakout to happen and then being patient for it to retest the immediate resistance/support level. This article will look at what a breakout is and how you can use the break and retest strategy in forex. What is the break and retest … [Read more...] about A Guide to the Break and Retest Strategy in Forex
Manufacturing Output Growth Drops to Seven-Month Low
Source: Federal Reserve Bank Philadelphia The expansion of the manufacturing output weakened to a seven-month low in July. The majority of the firms reporting either no change or decreases in their activity in the survey. The diffusion index fell to 21.9 in July, versus June’s 30.7 and July 2020’s 24.1. This is the lowest since December 2020’s 11.1%.Majority or 51% of the … [Read more...] about Manufacturing Output Growth Drops to Seven-Month Low
American Unemployment Claims Fall to 16-Month Low
Source: US Labor Department US jobless claims fell to the lowest level since the COVID-19 pandemic first hit in March 2020. DXY is up 0.13%, Gold is down 0.18%. Seasonally adjusted claimed for the week ending July 10 fell 26,000 to 360,000. This is the lowest level since it stood at 256,000 on March 14, 2020.The previous week’s level was hiked by 13,000 to 386,000 from … [Read more...] about American Unemployment Claims Fall to 16-Month Low
China’s Economic Expansion Slows to 7.9% as Conditions Normalize
Source: WSJ China’s economy continued to rebound in the second quarter of the year, albeit at a slower rate than the three months prior. Economists expect a downtrend in the coming months. China’s economy grew by 7.9% in the second quarter, meeting economists’ expectations. This is slower than the 18.3% in the first quarter.Both retail sales and fixed-asset investments … [Read more...] about China’s Economic Expansion Slows to 7.9% as Conditions Normalize
Fly Higher Nova Review
Fly Higher Nova is a trading software that places and manages trades on autopilot. The EA was built for trading on the MetaTrader 4 platform. According to its developer, the robot has assisted more than 5000 traders to get good results and that it could assist us too should we consider using it. The vendor attempts to assure us that the system has the capability of … [Read more...] about Fly Higher Nova Review
