Forex Trading - Like a BOSS!

Welcome back, traders and true believers of Forex Trading.

Welcome to the McDuck trading family.

In our last post, we talked about how you can make money with Forex signals if you missed it make sure to check it!

Now let's put the knowledge we gained from the last video to good use, and make some profit!

For this weeks video, we used a trading signal from a website called "Tools Trades".

Our broker was Alvexo, established in 2014, a genuinely new Forex specialist. From that point forward, this dealer professes to have more than 650,000 registrations, which is a great achievement. Alvexo offers CFD trading for more than 450 assets across five categories.

Appealing to both amateur and advanced traders, Alvexo offers a robust broking platform with an incredibly easy to navigate website that is supplemented with the aid of an amazing variety of educational and training resources.

Our Forex pair of choice was none other than the EUR/USD pair, and for good reasons.

When it comes to technical analysis, we will take into consideration the previous period. The image below shows that there was a pretty significant bullish trend involved, along with important levels of resistance.

As we were facing something similar at the moment of entering the trade, this was a good indicator of what we might be expecting in the future.

Technical analysis is important because it can help us predict the trend based on data from previous points in time. History, after all, loves circles.

Many of you who are using the economic calendar have known that today Eurogroup Meetings will be held. The Eurogroup would share opinions on the economic environment in the euro region on the basis of the publication of the European Commission 's preliminary economic outlook for the summer of 2020.

The role of the Eurogroup in organizing economic policies is especially relevant this year, considering the size of the economic difficulties resulting from the COVID-19 pandemic.

Ministers would address the financial condition of the euro region. The debate will integrate into the planning of the proposed budget plans and guidelines for the euro area in 2021.

Initial Jobless Claims measures the percentage of people who have registered for unemployment benefits for the first time over the last week. This is the earliest U.S. economic data, although the market impact ranges from week to week. As they are going to be released today, we can expect it will have a big impact on the market.

Take into consideration those factors and our fundamental analysis is pretty much pointing us in the same direction as the technical analysis.

Now it is time to obtain a signal, we choose a Short term signal for our EUR/USD pair, and if you want to know more about the whole process feel free to watch our video “How to Forex Trading with signals for beginners”.

Here you can see the results of our trade signal, in only 30 minutes we were able to make 50$ dollars without breaking a sweat. It is very important to combine your own research with the data that you receive from the trading signal provider.

If your research is overlapping with the signal then that is a pretty good indicator that you are going to have a very successful trade.

That is everything for today, feel free to check out the video below on this topic, stay safe and I will see you soon with more tips and tricks, trading signals and guidelines for Forex trading!

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