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  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 6.25% Expected: 6.25% Previous: 5.25%
  • But ,how do you really feel?
  • Central Bank of Brazil sees an additional 100 bps rate hike in October - BBG
  • Brazilian Central Bank hikes 100bps as expected. We have to split hairs for 'hawkish/dovish' in the Fed's views. Pretty straightforward here...
  • Central Bank of Brazil: - Raises Selic rate by 100 basis points to 6.25% - BBG
  • ARKK Innovation (ARKK), the EFT created by Cathie Wood that epitomizes disruptive growth investing, has trended downwards since Sept. 7 after failing to clear resistance in the 126.50 area. Get your market update from @DColmanFX here:
  • Speaking of monetary policy changes, the Brazilian central bank is due to announce its updated policies and the economist consensus is for a 100bp hike to 6.25%. Keep an eye on $USDBRL. Scenario with the most market-moving potential in my book would be a hold and USDBRL rally
  • The implied rate hikes from the Fed through the end of next year (Dec 2022 vs current Fed Fund futures contracts) jumped after today's FOMC report. Goes a long way towards explaining the $DXY Dollar jump here
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 6.25% Previous: 5.25%
  • The corrective pullback still seems to be in play but the drop below 109.00 has been in the works for too long now, which is a sign of concern for bears. Get your $USDJPY market update from @HathornSabin here:

Trading Education Archive

Avoiding Taking Profits Prematurely
2009-11-13 17:19:00
Student's Question: I chose the Head and Shoulders Pattern of the USD/JPY daily Chart which also shows interesting entry points when the Exponentional Moving Averages (EMA's) are being used. You wi...
The Importance of the Risk:Reward Ratio
2009-11-12 15:06:00
Trader A has a win percentage of 75% on all trades while trader B has a win percentage of closer to 40% on all trades.  Which trader is more profitable?  
Bullish Engulfing Candle Pattern as Trading Signal
2009-11-12 00:45:00
Student's Question: So far in my limited Forex experience, all examples are from the past (naturally). I am having a much harder time determining that one of these patterns is forming in front of y...
2009-11-11 17:05:00
The trend of the AUD/CAD is up nicely on the daily chart and we see a pullback off of the high. This is a potential buying opportunity.
The DailyFX Channel
2009-11-11 14:58:00
Do you prefer watching TV and videos rather than reading?  Then the DailyFX Channel was designed for you!
Making and Correcting Trading Mistakes
2009-11-11 13:34:00
Occasionally (hopefully not more than once) we accidentally find ourselves on the wrong side of a trade.  We meant to sell, but instead we bought.  After the few seconds of panic, we are left with ...
What are Central Bank Rates?
2009-11-09 19:00:00
On the first page of DailyFX you can find a table of Central Bank Rates.  But what are they and why are they important to FX traders?
The Use of Moving Averages
2009-11-09 18:31:00
Moving Averages may be the most popular technical indicator because they are easy to understand.  After all, a 10-day Simple Moving Average is calculated by just taking the closing prices of the la...
The Trend of the Day - USD/CHF
2009-11-06 17:38:00
Short term Swissy Rally Could Lead to Bigger Drop The greatly awaited NFP unemployment report has come and gone. Now traders are asking: Have we finally reached a bottom of USD/CHF? Is it time to b...
The New Trader and the Professional Trader
2009-11-06 16:10:00
One of the great things about being a DailyFX Course Instructor is that I get to work with people who are making a commitment to improve as traders.  One of the things they ask us is what is the di...
Drawing Support and Resistance Lines
2009-11-05 22:40:00
Student's Comment: On the topic of Support and Resistance lines, here is my NZDUSD 1Hr chart showing current levels of Support and Resistance.
A Doji Candlestick
2009-11-04 21:38:00
Student's Comment: Here is a doji on the chart, just before the change in direction.
Top Ten Reasons to Trade with a Protective Stop
2009-11-04 16:18:00
This is quite a load with ten news events being released by the end of the week.
The Trend of the Day - AUD/JPY
2009-11-04 15:18:00
After gold reached an all time high inter-day at $1,084/ounce, AUD/JPY started to move higher from the once month lows at 79.45 to 82.41 currently. Aussie Yen should be able to retake the 85.00 han...
The Trend of the Day - USD/CHF
2009-11-03 16:23:00
Though many are anticipating Dollar strength (including yours truly), we still have to trade what we see not what we think we see. The market punishes those who are too early to the party as well a...
2009-11-03 15:07:00
Let's take another look at the USD/JPY trade we talked about last week. If you remember, I was using this trade as somewhat of a "scout" to give me a clue as to the strength/weakness of the USD and...
Drawing Trendlines
2009-11-02 22:53:00
Student's Comments: Here is my assignment on candlestick charts and trendlines. Please leave your feedback.  
Buy After a Pullback to Support
2009-10-28 22:49:00
Student's Comments: Daily EUR/USD chart. Saw the uptrend. Drew the support and resistance lines. Then looked at a 30 mins chart. Placed an Entry order at 1.4758. Hopefully it touches the support fo...
Trading with Fibonacci Levels
2009-10-27 22:02:00
Student's Comment: This is from past daily chart of NZD/USD. Shows uptrend. Traced from down to up. First it breached the 38.2 level completely. So I would have waited for it to reach the 50.0 mark...
2009-10-27 13:36:00
While we wait for the USD to decide what it wants to do, the EUR/AUD has bounced up off of the low, up to support while the daily and 4-hour chart both show a downtrend. This is a selling opportunity.
Multiple Time Frame Analysis
2009-10-26 22:36:00
Student's Comment: GBP/USD 1 Day Chart The MACD crossed on 1/16 together with the shooting star candlestick the same day. Short entry, in the direction of the trend, by the 1/19 candle. In reality,...
A Solid Analysis Will Not Always Lead To A Winning Trade
2009-10-22 18:30:00
Student's Comments: Please let me know your thoughts. After placing this trade, and taking a step back, I probably would should not have done it this way (but losses are limited as you will note . ...
What do you think?
2009-10-22 12:56:00
Here is an interesting chart.  The first thing you should notice is that there are no prices, dates or any kind of description of what this market represents.  That is intentional as this exercise ...
The Trend of the Day - AUD/USD
2009-10-21 17:25:00
After reaching a low of .9180 on October 20th, AUD/USD looks ready launch an assault on the .9500 mark and possibly reach the elusive parity mark of 1.0000. Supported by record high prices in commo...
Fibonacci Guidelines
2009-10-21 16:50:00
Student's Comment: I can trade this 2 ways. I would watch the retracement as it approaches the different FIB lines. As the price either bounces or trades through the FIB lines I can trade it either...
2009-10-21 12:07:00
I mentioned yesterday that the USD/JPY was in a similar position as the EUR/GBP in that there was a corrective move on the daily chart which should offer a hint or two about the potential for a maj...
Pullback to Support Level
2009-10-20 17:58:00
Hi This is an evening star formation on the Eur/Gbp pair which took place several days back.  The evening star is preceded by an uptrend and is an indication that the uptrend momentum is slacking. ...
2009-10-20 15:13:00
Being stopped out of the USD/CAD trade means that I have two losing trades in a row.  They ended up as losing trades because of a change of direction in each market rather than poor execution and t...
The Trend of the Day - USD/CAD
2009-10-19 13:59:00
SSI says that the Loonie Should Head Lower
2009-10-19 12:52:00
The USD/CAD is showing a strong downtrend on both the daily and the 4-hour chart and a closer look at the hourly chart shows the pair has rallied up to a resistance level and started to move back d...

Economic Calendar

Interest Rate Decision ()
A: 6.25%
F: 6.25%
P: R: 5.25%
Markit Services PMI Flash (SEP)
P: R: 42.9
Markit Manufacturing PMI Flash (SEP)
P: R: 52
Markit Composite PMI Flash (SEP)
P: R: 43.3
Foreign Bond Investment (18/SEP)
P: R:
Stock Investment by Foreigners (18/SEP)
P: R: