Here are the details of the economic calendar for Sept 21:
Yesterday, the US construction sector statistics were published, where traders saw solid gains.
Details: 12:30 Universal time
– The number of construction permits issued in August rose by 6.0%, with a forecast decline of 1.8%.
– The volume of construction of new homes in August rose by 3.9%, with a growth forecast of 2.0%.
* Construction permits are the absolute number of permits for the construction of new residential buildings issued by state bodies in the reporting month. The U.S. Census Bureau collects this data by sending requests to permitting agencies across the country. The monthly survey sample covers 9,000 permit-issuing points across the country.
The volume of construction of new houses is the absolute number of new housing construction projects that began in the reporting month.
Analysis of trading charts from September 21:
The Euro managed to slightly strengthen its position against the US dollar, pulling back the quote from the level of 1.1700 by about 40 points. The downward interest still takes place among market participants for this very reason, but the pullback was replaced by stagnation. In this case, traders consider the 1.1700 level as a temporary pivot point when forming a decline.
The trading plan on September 21 considered the possibility of a further downward movement, but the signal for action should have come after the price had kept below the level of 1.1700.
The GBP/USD pair slowed down the decline in the area of 1.3640, where a pullback occurred at the beginning, after stagnation at 1.3640/1.3690. Despite the pound’s high level of oversold, market participants are still focused on the decline. This is indicated by a number of technical factors: the absence of correction, the process of deceleration, and an increase in the volume of short positions.
Short positions or Short means sell positions.
September 22 economic calendar:
Today, everyone is focused on the results of the meeting of the Federal Open Market Committee (FOMC), where the regulator will certainly leave the key interest rate unchanged at the level of 0-0.25%.
The most important point is the fate of the quantitative easing program, where if it is announced, a wave of speculation will arise in all markets. In simple words, the US stock market will sharply decline, and the US dollar will strengthen.
A number of events are particularly important ones, so speculation is expected at the time of the press conference. Be cautious. FOMC meeting results – 18:00 Universal time FOMC press conference – 18:30
Universal time Trading plan for EUR/USD on September 22:
Market participants regarded the price movement within the level of 1.1700 as stagnation. Most likely, the information and news background will provoke speculators to new leaps. In this situation, the coordinates 1.1700 and 1.1750 are considered signal levels. T
he price being kept outside a certain level may indicate a local movement. To simply put it, trading is carried out on a breakdown of one level or another.
Trading plan for GBP/USD on September 22:
The oversold level may be ignored by market participants. If the price is kept below the level of 1.3640, a path will open towards the range of 1.3600-1.3571.
What is reflected in the trading charts?
A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices. Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market. Circles and rectangles are highlighted examples where the price of the story unfolded.
This color selection indicates horizontal lines that may put pressure on the quote in the future. The up/down arrows are the reference points of the possible price direction in the future.
Golden Rule:
It is necessary to figure out what you are dealing with before starting to trade with real money. Learning to trade is so important for a novice trader because the market is constantly dynamic and it is important to understand what is happening.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services to individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
