Forex Trading is Halal or Haram In Islam?

I am traveling to Middle East and South –East Asia in the upcoming weeks where the population is largely Muslim and before my trip all my soon to be trainees  are asking “Forex is Halal or Haram?” It's my Personal opinion, I am sorry if anyone hurts with it.

I believe that " Selling currencies is usually done without the hand to hand exchange which makes them permissible according to sharee’ah."

Forex is Halal if you are not gambling and have your end goals clearly distinguished.

1- As a Forex trader you need to have a reason to take that action (sell or buy)

2- Not gamble on the trend direction but analyze the market

3- Not trade for the sake of excitement but trade for the potential income and to make a living

4- Not to approach it as a game but as a job

5- Have a mindset to win or to protect your equity rather than telling yourself “if I win I win, if not next time”

6- You learn from your losses and move on with the decision taken by yourself rather than blaming the market or blaming the situation.

It's a bit blurry so to say. 
But if you're honest to yourself, you know whether you're trading or gambling.

Join here :  Forex trading

Comment your Number if you are interested.  

I am starting a WhatsApp Forex signal service. ~ Mike Norman Economics

I am starting a WhatsApp Forex signal service. ~ Mike Norman Economics

H4 chart of the USD/CAD Forex Pair , showing a nice falling wedge formation:

What is happening with the Loonie exchange rate? This is what we are going to tell you now! Below you will find the H4 chart of the USD/CAD Forex Pair, showing a nice falling wedge formation:

    

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As you see, in Friday the USD/CAD price broke the blue falling wedge formation in bullish direction. The breakout is visualized with the red circle on the image. Now the Loonie is probably facing a new bullish attitude.

Since we have a falling wedge chart pattern during a bearish trend, we expect an increase of the price equal to the size of the formation. This is shown with the black arrows on the image above.

The USD/CAD Forex exchange rate is currently situated around 1.4053 CAD for one USD. If the Price starts a movement after the falling wedge chart figure, we might see the price reaching  a weekly high around 1.4216.

Maybe it is time to start thinking long now?

During the overlap with the London session we expect an important inflation

New York Session

During the overlap with the London session we expect an important inflation-related release from Germany and more PMI from the USA:

1. German CPI (MoM) (Dec) | Germany
2. Manufacturing PMI (Dec) | United States
3. ISM Manufacturing Employment (Dec) | United States
4. ISM Manufacturing PMI (Dec) | United States

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‪#‎Crude_Oil‬ Tuesday :The week’s first oil-related macroeconomic release is:

‪#‎API‬ Weekly ‪#‎Crude_Oil_Stock‬
The American Petroleum Institute (API) reports inventory levels of US crude oil, gasoline and distillates stocks on a weekly basis. The figure shows how much oil and product is available in storage.The API Weekly Crude Oil Stock indicator gives an overview of US petroleum demand. Higher stock implies weaker demand or oversupply and it is bearish for crude prices, while lower stock implies higher demand and it is bullish for oil prices. While it is nearly impossible to predict the actual reading of the release, the event can be used for the timing component of a trading strategy for the instrument.
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