January was a volatile market, giving many opportunities for Forex and Commodities traders and taking opportunities off the oil producing countries’ governments as Oil plunged further down.
In our monthly Forex analysis for February we have covered the most traded major pairs, gold and crude oil giving our outlook for each one of them.
As a part of the monthly Forex analysis live webinar, AtoZ Forex Strategy Captain Yagub Rahimov took top to bottom approach in his analysis.
Each pair was analyzed based on the following criteria:
1- Moving Averages: 50 and 200 SMAs on Weekly, daily and hourly time-frames, their slope and the price compared to the moving average directions
2- Fibonacci analysis: Real Fibonacci waves have been defined on weekly timeframe and then was applied on smaller time frames, lowest being H1 time-frame.
3- Price action: Simple price action has been taken into consideration
4- Defining support and resistance levels: Using Fibonacci waves as well as trend lines, swing support and resistance zones had been defined
5- Fundamental elements: Key fundamental events such as the all-time-high US debt was discussed during the webinar and comparisons has been made
Furthermore, each pair has been put on trend following and anti-trend pending orders looking for possible reversal points. We used TrioMarkets STP MT4 platform for this webinar.
It is highly recommended to have a pen and paper while watching this video and take notes. If you have any specific question go on AtoZ Forex Forum and ask your question there. We’ll be more than happy to answer your questions.
If you enjoyed this video, make sure to check the upcoming Forex webinars.