Welcome to Part 3 of our essential 5-part Forex trading education series! I'm Nathan Bray, Senior Account Manager at ACY Securities and in this module, we dive deep into using Fibonacci retracement zones to identify potential reversal points during market pullbacks. You'll learn how to combine trend analysis with support and resistance to pinpoint optimal trading zones with high confluence, allowing you to plan trades in advance.
What you'll learn
Fibonacci Retracement Zones: Discover how to use this powerful tool to spot potential market reversals.
Trend Analysis: Build on your knowledge from Parts 1 and 2, focusing on identifying and leveraging market trends.
Support and Resistance: Integrate major support and resistance levels with Fibonacci retracement to enhance your trading strategy.
High Confluence Trading Zones: Learn to identify key market levels with multiple confirmations for higher probability trades.
Why this matters
Combining these three elements—trend, support and resistance, and Fibonacci retracement—provides a robust framework for identifying key levels in the market. This approach increases the likelihood of successful trades by offering multiple confirmations of potential price movements.
Dive into the charts and learn how to apply Fibonacci retracement levels effectively. By the end of this module, you'll be equipped with the knowledge to identify and trade off key levels in the market confidently.
RISK WARNING: Foreign exchange and derivatives trading carry a high level of risk. Before you decide to trade foreign exchange, we encourage you to consider your investment objectives, your risk tolerance and trading experience. It is possible to lose more than your initial investment, so do not invest money you cannot afford to lose。 ACY Securities Pty Ltd (ABN: 80 150 565 781 AFSL: 403863) provides general advice that does not consider your objectives, financial situation or needs. The content of this website must not be construed as personal advice; please seek advice from an independent financial or tax advisor if you have any questions. The FSG and PDS are available upon request or registration. If there is any advice on this site, it is general advice only. ACY Securities Pty Ltd (“ACY AU”) is authorised and regulated by the Australian Securities and Investments Commission (ASIC AFSL:403863). Registered address: Level 18, 799 Pacific Hwy, Chatswood NSW 2067. AFSL is authorised us to provide our services to Australian Residents or Businesses.
Editors’ Picks
EUR/USD stays below 1.1750 ahead of US PMI data
EUR/USD trades marginally lower on the day below 1.1750 but clings to strong weekly gains. The data from Germany and the Eurozone showed that the business activity in private sector expanded at a modest pace in January, helping the Euro hold its ground. In the second half of the day, US PMI data will be watched closely.
GBP/USD climbs above 1.3500 on upbeat UK data
GBP/USD gains traction and trades in positive territory above 1.3500 on Friday following an earlier decline. Upbeat Retail Sales and January PMI data from the UK help Pound Sterling stay resilient against its rivals as market focus shifts to US data.
USD/JPY falls sharply following a jump above 159.00 after BoJ
USD/JPY declins sharply toward 158.00 after rising above 159.00 in the European session on Friday. The Bank of Japan left its monetary policy settings unchanged following the first policy meeting of the year, as expected, but Governor Ueda noted a weak Japanese Yen could lead to a rise in import costs and be passed on to domestic prices.
Editors’ Picks
EUR/USD stays below 1.1750 ahead of US PMI data
EUR/USD trades marginally lower on the day below 1.1750 but clings to strong weekly gains. The data from Germany and the Eurozone showed that the business activity in private sector expanded at a modest pace in January, helping the Euro hold its ground. In the second half of the day, US PMI data will be watched closely.
Gold pulls away from record-high, holds above $4,900
Gold loses its traction and declines toward $4,900 after touching a new record-high near $4,970 earlier in the day. The modest US Dollar recovery ahead of US PMI data causes XAU/USD to stretch lower, while investors keep a close eye on geopolitics.
GBP/USD climbs above 1.3500 on upbeat UK data
GBP/USD gains traction and trades in positive territory above 1.3500 on Friday following an earlier decline. Upbeat Retail Sales and January PMI data from the UK help Pound Sterling stay resilient against its rivals as market focus shifts to US data.
Bitcoin shows mild signs of recovery, Ethereum and Ripple remain under pressure
Bitcoin, Ethereum and Ripple show mixed signals at the time of writing on Friday as the broader crypto market attempts to stabilize after this week’s sell-off. BTC extends its recovery after finding support around a key level.
A tough road ahead for the Bank of Japan
The BoJ paused rates at 0.75%, expressing greater confidence in growth and reaching the 2% inflation goal. The challenge is balancing rate hikes to support JPY without slowing growth.
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