Blue Gate forex BGFX

The pound gains momentum!!!!

Pound rises for fourth successive day The Lebanese recorded an increase in value for the fourth consecutive day Friday, trading around LL7,800 against the US dollar.

Can any currency actually replace the US dollar?

Time for an international currency to replace the greenback Establishing an international currency to replace the greenback will not be easy, but it should and must be done. Only then would international economic and financial systems be stable or free from U.S. meddling and bullying.

Interesting update guys!!!!!

Import Collapse Turns Into a Boon for Philippines’ Currency (Bloomberg) -- One consequence of the Philippines’ struggling economy is turning into a boon for its currency.A collapse in imports has had a positive effect on the nation’s trade deficit, leading to lower demand for overseas currencies and helping to strengthen the peso. The Philippine currency...

Eurozone !!!

Euro-Zone Queue Shows Crisis-Plagued Currency Still Has Appeal For all its flaws, the euro zone’s gravitational pull is proving hard to resist.

USDCAD update!

USD/CAD: Monster employment figures only muster a handful of pips – TDS The Canadian economy added back 952K jobs in June, beating expectations, while the unemployment rate was in line with market consensus at 12.3%. The U

Where is the Rand retreating to?

Rand retreats as global coronavirus surge sours sentiment Bonds also weaker.

Tether mints!!!!

Tether mints 80,000,000 USDT to unknown wallets within 24 hours | The latest development is that Tether treasury minted a whopping 80 million USDT to unknown wallets in less than 24 hours,

What are these folks talking about??

Blockchain Tech Can Verify Credentials, but Beware Credentialism - CoinDesk Verifiable credentials for life, work and academic achievements can simplify our online indentities. But not everything should go on the blockchain.

Canada is gradually picking up!!!

Canada's job recovery may be slowing just as rebound starts @ Forex Factory Canada's job recovery may be slowing just as rebound starts - Canada’s jobs market recovery could be stalling already. A Bloomberg News poll taken at the end of June by Nanos Research found that only 30 per cent of Canadians who either...

China!!

How China’s wealth management scheme could work Greater clarity on oversight and movement of capital is urgently needed or the scheme could flounder like the Hong Kong-China Mutual Recognition of Funds launched in 2015.

Interesting right!!!!

ChainLink’s digital coin skyrockets 388% in 130 days, still soaring | Nairametrics ChainLink’s digital coin skyrockets 388% in 130 days, still soaring Cryptocurrency

Nice one!!!

Blockchain Changes Gaming Economics, Forte Exec Explains Forte Labs' vice president of token economics explained blockchain underpinning can affect in-game asset supply and demand economics.

Hedgefunds!!!!

Famed hedge funder Kyle Bass is betting big against the Hong Kong dollar as the US threatens to remove a key peg | Markets Insider Hedge fund veteran Kyle Bass is betting against the Hong Kong Dollar, in expectation that the US will remove a key peg against the dollar, Bloom...

BTCUSD analysis!

BTCUSD to continue downtrend | Good volumes observed! for COINBASE:BTCUSD by Mudrex Market in last 24hrs -BTCUSD saw a big downtrend -Price volatility was high. Market moved ~3.3%, between $9.1k and $9.43k Today’s Trend analysis -Downtrend to continue, expected to remain in bollinger band’s range -Price at time of publishing: $9,172 -BTC’s market cap: $169 Billion -Oscillator...

Analysis on Gold!

Gold double top formation + bearish MACD + EMA50 in favour for OANDA:XAUUSD by Asim99_ Gold is heavily overpriced at the moment and although it is fundamentally driven, I have spotted a major valid reversal pattern in the form of a double top. It is seen across multiple timeframes including the 1H but it is most clear in the 15 minute chart. I have marked out the neckline of the doubl...

This would be noticed on the charts definitely!!!

Shariah Council Permits Cryptocurrency Investing and Trading | Bitcoin News The Shariah Advisory Council of Malaysia's securities commission has advised that it is permissible to invest and trade cryptocurrencies on registered crypto exchanges. About 60% of the country's population are Muslims, many of whom have been reluctant to trade crypto in fear that it might not be Sh...

On the JPY's

JPY Weekly Review (July 6 – 10) Improving Japanese data & a late week turn in global risk sentiment helped JPY close the week in the green before the Friday close.

Updates on the GBPUSD!!!!

GBP/USD Price Analysis: Keeps break of 200-day EMA above 1.2600 GBP/USD remains on the front foot around 1.2613 during the early Asian session on Thursday. In doing so, the Cable keeps the previous day’s break abov

This Will definitely be seen on the charts!!!!

BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin - CoinDesk The Romanian programmer pleaded guilty to wire fraud and the offering and sale of unregistered securities.

The BTC whales!!!

BTC whale moves 19,630 BTC valued at $185,000,000 | Nairametrics BTC whale moves 19,630 BTC valued at $185,000,000 Cryptocurrency

Some trades on some of our accounts!!!

Interesting news!!!!

US bond markets hint at negative risk bias, equities falter but forex consolidates - Hantec Markets There is a cautious look to major markets this morning. Wall Street markets fell away late into yesterday’s close and this is leaving a bitter taste in the

AUDUSD analysis from babypips!

Daily U.S. Session Watchlist: AUD/USD With risk sentiment in positive territory & potential catalysts from Australia & China ahead, the uptrend in AUD/USD is one to watch for the next session.

Some of today's trades on different accounts, I told you that we are the best!

More updates on crypto!!!

Tech Mahindra Employs IBM Blockchain in New Platform to Combat Digital Piracy Indian IT giant Tech Mahindra has launched a new blockchain-based digital contracts and rights platform for the media and entertainment industry

Some wise sayings from the master himself!!!

Tutorial on the RSI

Beginner Guide to the RSI Indicator The Relative Strength Index is arguably the most popular technical indicator when it comes to trading. But being popular doesn’t always make you right or eas...

RELATIVE STRENGTH INDEX
Relative Strength Index, or RSI, is one of the most popular technical indicators among traders. It was developed by J. Welles Wilder in 1978 to measure the speed and the change of price movements. The indicator also helps to determine the overbought/oversold state of the market in order to buy low and sell high.

HOW TO IMPLEMENT RSI
To add the RSI to a chart, click “Insert” – “Indicators” – “Oscillators” – and you will see the "Relative Strength Index".

By default, MetaTrader will offer you to have “14” as the number of periods. You can change this parameter if you want to. Short-term traders normally use 9-period RSI, while those who prefer longer-term trades choose 25-period RSI. All in all, the smaller the period, the more fluctuations the indicator will make.

HOW TO INTERPRET RELATIVE STRENGTH INDEX
The readings of the indicator fluctuate between 0 and 100. You can also add a middle line at 50. If the RSI is above this point, momentum is considered up and there’s more sense to look for opportunities to buy. When the RSI drops below 50, it’s a sign of a new bearish market trend, so consider opening sell trades.

THE MARKET IS OVERBOUGHT OR OVERSOLD
Like other oscillators, the RSI helps to tell when the asset is overbought or oversold. For the RSI, you need to watch the levels of 70 and 30. If the RSI rises above 70 bound, it means that the market is overbought and may correct down. If the RSI falls below the 30 line – the asset is oversold and may retrace to higher levels.

Notice, however, that this approach is not suitable for trading in strong trends when the RSI may stay overbought or oversold for long periods of time. If you have evidence that there’s a strong trend in the market, consider selling when RSI is oversold in a downtrend, and buying when RSI is overbought in an uptrend.

All in all, the quality of RSI signals increases when you follow only those signals that are in the direction of the trend when the indicator leaves critical levels. For example, you can buy during an uptrend when RSI gets above 30.

THE MARKET REVERSAL
Moreover, the divergence between RSI and price may warn of the market reversal. When the new high of the price is not confirmed by the new high in the RSI, it’s a bearish divergence, which is a negative signal. When the price forms a lower low but the minimum of RSI is higher than the previous one, it’s a divergence in favor of bulls.
The RSI is often used in combination with another oscillator, the MACD. While the RSI measures price change in relation to recent price highs and lows, the MACD measures the relationship between two EMAs. Together the RSI and the MACD represent a powerful combo.

Conclusion;
A competent trader should know what the RSI is and how to use it. Make sure that your analysis isn’t built solely on RSI but comprises the study of price action as well as other technical indicators. Remember that the signals of the Relative Strength Index are most reliable when they conform to the long-term trend.

More videos on oscillators!!!

Oscillator Indicators: Beginner Tips Oscillators are among the most popular technical indicators used by traders. Here to talk about them is trading expert David Jones and he walks us through th...