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Gold and silver are heading into the European open higher. Gold has now consolidated above the psychological $1800/oz level with a strong move on Sunday night. Elsewhere in the commodities complex, copper is 0.23% higher and spot WTI is 1% in the black. In terms of risk sentiment, the Nikkei 225 (-0.35%) and ASX (-0.06%) struggled but the Shanghai Composite traded well moving 0.20% higher. Futures heading into the European open as flat.

Success comes from knowledge – this is true for most things in life and especially Forex trading. To become successful, a trader needs to learn technical analysis. Technical indicators are a big part of technical analysis. What is forex indicators? Forex indicators are one way of examining market data. By examining historical data, such as currency price, volume and market performance, indicators seek to predict how the market will behave in the future and which patterns are likely to be repeated. Once traders have this information, they are able to make more informed trading decisions and may make higher returns as a result. You need to join a forex forum for learn more about forex indicators. How do Forex indicators work? The best indicators for Forex work on the assumption that past patterns are likely to repeat themselves, providing similar circumstances arise. Rather than viewing the FX market as a random series of events, Forex indicators look for patterns in specific market behaviour. Some Best Indicators, should know every traders: 1. Awesome Oscillator (AO) This forex prediction indicator MT4 is one of the best to be used in the forex indicator strategy. This oscillator is designed to deliver trading signals of the divergence which is the strongest sign of a soon trend reversal and trend pivot level in technical analysis. Well, let us start spotting divergence and make profits! 2. The Moving Average The moving average indicator is, of course, one of the most widely used FX indicators for identifying trends. While there are different types of moving averages, they all follow the same principle; to plot the average price for a specific duration over the price itself. 3. Exponential moving average (EMA) EMA is another form of moving average. Unlike the SMA, it places a greater weight on recent data points, making data more responsive to new information. When used with other indicators, EMAs can help traders confirm significant market moves and gauge their legitimacy. 4. BOLLINGER BANDS – AN INDICATOR TO MEASURE VOLATILITY Bollinger Bands helps to measure market volatility. Technical principle: Bollinger Bands consist of 3 lines. Each line (band) is an MA. The middle band is usually a 20-period SMA. It identifies trend direction – just like the MAs described above do. Upper and lower bands (or “volatility” bands) are shifted by two standard deviations above and below the middle band. 5. Trend Indicators Forex trend indicators are just what they sound like – data that can help you analyze market trends and patterns. While that may seem simple at first glance, there is much more that goes into it. You must carefully review these indicators, as you can always be swayed by what you believe the patterns to be. 6. Relative strength index (RSI) RSI is mostly used to help traders identify momentum, market conditions and warning signals for dangerous price movements. RSI is expressed as a figure between 0 and 100. An asset around the 70 level is often considered overbought, while an asset at or near 30 is often considered oversold. You can learn more about forex trading at forum.forex https://www.forum.forex

Investors bought the British pound again, and the GBP/USD moved towards the 1.3607 resistance level yesterday before settling around 1.3550 as of this writing. Sterling's move in the Forex market came as rapid re-quotes of future interest rate hikes in the Bank of England are nearing completion and current exchange rates are more in line with expectations of a rate hike in February.

Western Texas Intermediate (WTI) crude oil is climbing for the fourth day in a row, surging almost 1%, trading at $73.86 at the time of writing. The market sentiment is downbeat. Major global equity indices closed with losses, except for the Japanese Nikkei and Topix, which reported gains of 2.06% and 2.31%. Meanwhile, as the New York session advances, the S&P 500, the Dow Jones, and the Nasdaq record losses between 0.01% and 0.25%. Meanwhile, the US Dollar Index, which influences the price in commodities stills up some 0.17%, at 93.25.

Financial authorities in the United Arab Emirates have agreed to legalize and promote cryptocurrency trading explicitly in Dubai’s economic-free zone. The Dubai World Trade Center Authority (DWTCA) said on Wednesday it has inked a contract to promote the regulation and trading of crypto-assets inside the Free DWTCA area with the UAES Securities and Commodities Authority (SCA). The latest initiative sets a structure for DWTCA to provide required permits and licenses for cryptocurrency financial operations. Under the deal, SCA is also responsible for overseeing key crypto-linked operations, including as issuance, listing, trading and licensing. On the other hand, Bitcoin raced to $44,000 on Thursday on a day of recovery for the crypto markets. The world’s biggest cryptocurrency had a boost on Wednesday when the U.S. Federal Reserve announced it would be keeping interest rates near zero for the time being. However, central bank officials are increasingly predicting that interest rates will rise next year — earlier than first thought. A huge stimulus program that was launched in light of the coronavirus pandemic is also expected to be tapered down in the coming months. Shares in Evergrande also surged ahead of Thursday’s deadline to pay $83.5 million in interest payments. You can learn more new updates at forum.forex forum.forex - Online Forex Forum for Forex Traders, Forex Brokers, Forex Signal Providers, Forex Trading News and Forex Traders Education Resources Discuss the Forex Market, Currency Trading Strategies and Forex Leverage. Share tips, Ideas and Market-Moving Data