Identifying a forex trend is hard, we know. TradeProofer has previously sought to only provide trade execution analysis rather than trade ideas, however the demand we’ve had to add tools to traders arsenals has been overwhelming! Over the coming weeks and months TradeProofer will be publishing a series of unique expert advisors and indicators! WE …
TradeProofer’s NZDJPY sentiment has swung bullish, and the daily bullish structure is still in tact. This is despite the recent sell off having strong momentum. NZD/JPY has traded into the previous resistance trendline which may act as a support. Price has been extremely bearish over the last few trading days, as traders look to hedge …
Currently TradeProofer’s best execution broker is Fusion Markets on their Zero account. Fusion Markets is an ASIC regulated forex broker that offers multi-asset trading across 170+ different products. TradeProofer data shows that Fusion Markets has executed an outstanding 95% of trades inline with their spreads. This means that only 5% of trades executed had slippage …
The Melbourne cup takes place in Australia today, a world renowned horse race event. The RBA has decided to get in on todays excitement, and will be announcing their Interest Rate Decision at 15:30 AEST today. The Commonwealth Bank of Australia has forecasted that the RBA will hike rates in November 2022. Despite this, the …
Brokers have been busy cutting spreads over the last year across forex major symbols. Gold has been no exception to this, with gold spreads getting progressively lower. We have now entered a new era of gold spreads however. Only one year ago brokers spread averages on XAUUSD were around a 20 cent spread. Now TradeProofer …
TradeProofer’s retail sentiment is sell the Greenback, sell gold. Both market bias’s seem to be correct at the moment, as multi-year highs on oil spur USDCAD downside, and gold has rebounded again out of a significant resistance. USDCAD is back below the 1.2400 significant level, and has closed 4 weeks in a row bearish. It …
It’s easy to lose track of the bigger picture when looking at short term spread changes. Let’s have a look at the Month Over Month spread averages for TradeProofer’s Industry index across major forex symbols. In Q4 last year we saw FX Brokers drastically cutting spreads M.o.M. In the last few months spreads have stabilised …
TradeProofer’s NZDJPY sentiment has turned bearish despite the NZDJPY having a bullish seasonal tendency in Sep, Oct, Nov & December. Between 2002 to 2020 the Kiwi-Yen has only had 5 bearish Septembers, 6 bearish Octobers, 4 bearish Novembers, and 4 bearish Decembers. If we exclude the anomaly of the 2008 GFC, downside on NZDJPY has …
TradeProofer’s community sentiment for AUDUSD has turned bullish today, however the kiwi counterpart remains bearish. AUDUSD sentiment is 63% bullish, whereas NZDUSD sentiment holds 76% bearish! On the AUDUSD 1h Chart I currently hold a buy position with a tight stop. Price has broken the descending trendline, and the RSI is attempting to point higher. …
Any forex trader knows that the performance of a strategy changes depending upon the symbol traded. Less commonly known is the fact that your slippage amounts can be significantly impacted by the symbol traded. To get to the bottom of what symbol you have the best trade execution simply join TradeProofer’s community and run free …