Some more about volume (it was the question about it on one thread today:
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2014.01.24 08:51
Forex Market Size (based on this article)
According to the Bank for International Settlements, foreign-exchange
trading increased to an average of $5.3 trillion a day. To put this into
perspective, this averages out to be $220 billion per hour. The foreign
exchange market is largely made up of institutional investors,
corporations, governments, banks, as well as currency speculators.
Roughly 90% of this volume is generated by currency speculators
capitalizing on intraday price movements.
Unlike the stock and futures market that are housed in central physical exchanges, the Foreign exchange market
is an over-the-counter market, decentralized market completely housed
electronically. Banks from Hong Kong to Zurich and from London to New
York. Though most investors are familiar with the stock market, they are
unaware how small in volume it is in relation to the Forex market.
As the most traded currency, the US dollar makes up 85% of Forex trading
volume. At nearly 40% of trading volume, the euro is ahead of the third
place Japanese yen that takes almost 20%. With volume concentrated
mainly in the US Dollar, Euro and Yen, Forex traders can focus their
attention on just a handful of major pairs. In addition, the greater
liquidity found in the Forex market is conducive to long, well-defined
trends that respond well to technical analysis and charting methods.
Gold - weekly ranging within the cloud; 1295 level is the key (based on the article)
Weekly price is on ranging within Ichimoku cloud within 1295/1214 levels waiting for the direction of the bullish reversal to bestarted or to the bearish trend to be resumed.
Weekly Outlook: 2017, May 28 - June 04 (based on the article)
The US dollar managed to recover in the last full week of May. As the page turns into June, we have a buildup to the Non-Farm Payrolls, consumer confidence, and the Fed’s favorite inflation figure. Here are the highlights for the upcoming week.
Weekly EUR/USD Outlook: 2017, May 28 - June 04 (based on the article)
EUR/USD had a positive week in general, rising as prospects continue looking better in the euro-zone in comparison to the US. The upcoming week features preliminary inflation figures and PMIs.
Weekly GBP/USD Outlook: 2017, May 28 - June 04 (based on the article)
GBP/USD dropped sharply last week, dropping 230 points. The pair closed at 1.2781, its lowest weekly close in four weeks. This week’s key events are Manufacturing and Construction PMIs.
Weekly AUD/USD Outlook: 2017, May 28 - June 04 (based on the article)
AUD/USD was unchanged last week, closing at 0.7439. This week’s key events are Private Capital Expenditures and Retail Sales.
Weekly USD/CAD Outlook: 2017, May 28 - June 04 (based on the article)
The Canadian posted gains for a second straight week, as USD/CAD lost 80 points. The pair closed the week at 1.3440. This week’s key event is GDP.
AUD/USD Intra-Day Fundamentals: Australian Building Approvals and range price movement
2017-05-30 02:30 GMT | [AUD - Building Approvals]
if actual > forecast (or previous one) = good for currency (for AUD in our case)
[AUD - Building Approvals] = Change in the number of new building approvals issued.
From official report:
AUD/USD M5: range price movement by Australian Building Approvals news event
MetaTrader Trading Platform Screenshots
AUDUSD, M5, 2017.05.30
MetaQuotes Software Corp., MetaTrader 5, Demo
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