Forex New Strategy with professional software
//
//
Forex New Strategy with professional software
Im an professional forex trader from asia
for more information about my statement and signals and trade visit here HORAFOREX web.
We recommend you purchase our system and receive our 24hours support, live trade…
Based on our experience : At least 90% of new Forex traders lose all their money within their first 3 months of trading. This means that they have no idea what the heck they are doing! They just jump into the market blindly with only hopes and dreams and rely on the flip of a coin to determine their success. 90% of Forex traders are uneducated and lack the basic knowledge of how the Forex really works. They rely solely on luck without LEARNING ANY OF THE BASICS AT ALL! And reliable sources suggest that up to 10% of these under- informed Forex traders end up losing their entire trading account!
So do we assume that most losing traders are just ignorant? Of course not. Most losing traders are quite intelligent. In fact, most people who inquire about Forex trading have above average IQ’s. So why do they FAIL…? They simply lack the discipline required to learn about how the Forex actually works. They are initially overconfident and consider their quick 5 minute market analysis to be 100% correct. More often than not they are 100% WRONG!
Forex is the worldwide currency exchange. It is used by banks and institutions for changing Dollars to Euros or Yen, etc. You really don’t have to know much about Forex except it is huge (over $2 trillion dollars is traded EACH DAY) – it is the biggest market in the world. Bigger than the NYSE or the bond market. Forex isn’t located in any particular city or town – it is entirely electronic. That’s what makes it easy for you to get involved.:cool:
// Popularity: 4% [?]
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- Answers to the most commonly emailed questions
Here they are, all in one place. I like questions. I just think its a waste of FPA resources to se… - Reading a Forex Quote
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Daily Market Commentary for December 10, 2009 Foreclosures Foreclosures were on the fall again… - Retail Sales Trend
Daily Market Commentary for December 11, 2009 Retail Sales Trend Retail sales trends have been… - Job Market
Daily Market Commentary for December 4, 2009 Job Market Investors finally got the news they we… - LEARN HOW TO CATCH FISH IN FOREX MARKET $$$$$$$
MILLIONAIRES HAVE BEEN CREATED THROUGH FOREX THAN ANY OTHER VEHICLE IN HISTORY Wanted: Motivated … - Currency News – Wednesday, 25 November 2009
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Daily Market Commentary for November 23, 2009 Gold Prices Today Gold prices today hit yet anot… - Currency News – Friday, 20 November 2009
Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR an…
Forex New Strategy with professional software
//
//
Forex New Strategy with professional software
Im an professional forex trader from asia
for more information about my statement and signals and trade visit here HORAFOREX web.
We recommend you purchase our system and receive our 24hours support, live trade…
Based on our experience : At least 90% of new Forex traders lose all their money within their first 3 months of trading. This means that they have no idea what the heck they are doing! They just jump into the market blindly with only hopes and dreams and rely on the flip of a coin to determine their success. 90% of Forex traders are uneducated and lack the basic knowledge of how the Forex really works. They rely solely on luck without LEARNING ANY OF THE BASICS AT ALL! And reliable sources suggest that up to 10% of these under- informed Forex traders end up losing their entire trading account!
So do we assume that most losing traders are just ignorant? Of course not. Most losing traders are quite intelligent. In fact, most people who inquire about Forex trading have above average IQ’s. So why do they FAIL…? They simply lack the discipline required to learn about how the Forex actually works. They are initially overconfident and consider their quick 5 minute market analysis to be 100% correct. More often than not they are 100% WRONG!
Forex is the worldwide currency exchange. It is used by banks and institutions for changing Dollars to Euros or Yen, etc. You really don’t have to know much about Forex except it is huge (over $2 trillion dollars is traded EACH DAY) – it is the biggest market in the world. Bigger than the NYSE or the bond market. Forex isn’t located in any particular city or town – it is entirely electronic. That’s what makes it easy for you to get involved.:cool:
// Popularity: 3% [?]
forx news
- Answers to the most commonly emailed questions
Here they are, all in one place. I like questions. I just think its a waste of FPA resources to se… - Reading a Forex Quote
Total newbies to the foreign exchange market can find reading a Forex quite intimidating (even baffl… - Currency News – Friday, 18 December 2009
Economic News USD – Dollar Climbs to Three Month High Versus the EUR The Dollar once again mad… - Currency News – Friday, 11 December 2009
Economic News USD – USD Mixed Against Major Currencies The Dollar experienced a mixed trading … - Key Forex Market News
Forex traders should be aware that the news you hear or see daily in the media can be used as import… - Timing is Everything in Forex, Especially in this Environment
I just finished reading a Wall Street Journal piece (Central Banks Rattle Markets), which laid out, … - Earnings
Daily Market Commentary for December 18, 2009 Earnings Earnings reports from technology compan… - Foreclosures
Daily Market Commentary for December 10, 2009 Foreclosures Foreclosures were on the fall again… - Retail Sales Trend
Daily Market Commentary for December 11, 2009 Retail Sales Trend Retail sales trends have been… - Job Market
Daily Market Commentary for December 4, 2009 Job Market Investors finally got the news they we… - LEARN HOW TO CATCH FISH IN FOREX MARKET $$$$$$$
MILLIONAIRES HAVE BEEN CREATED THROUGH FOREX THAN ANY OTHER VEHICLE IN HISTORY Wanted: Motivated … - Currency News – Wednesday, 25 November 2009
Economic News USD – Dollar Sentiment Pressured by Fed Comments The USD held on to modest gains… - Market News
Daily Market Commentary for November 25, 2009 Market News Stocks were rising this morning afte… - Gold Prices Today
Daily Market Commentary for November 23, 2009 Gold Prices Today Gold prices today hit yet anot… - Currency News – Friday, 20 November 2009
Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR an…
Currency News – Tuesday, 17 November 2009
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Economic News
USD – Dollar Tumbles on All Fronts
The U.S. Dollar fell against all of its major currency pairs yesterday. This was in response to traders dropping the USD, as stocks climbed after U.S. Retail Sales rose more than predicted, and Asian governments pledged to uphold their economic stimulus spending. In October, Retail Sales rose 1.4 %, vs. forecasts of a 0.9 % rise. The equity market rally sent the Standard & Poor’s 500 index to a 13-month high, as it rose 1.2% to over 1,105. What is impressive is that according to the U.S. Commerce Department, Retail Sales climbed from a 2.3 % dip in September.
The Dollar fell to a 15- month low against currency pairs such as the Pound. This is as the pair rose by as much as 165 pips to the 1.6876 level. The USD/JPY cross also dropped significantly yesterday by 52 pips to the 89.04 mark. The EUR/USD pair rose by 20 pips to the 1.4985 level. In addition, the greenback lost ground against the Canadian Dollar as the trading day dragged on. The U.S. Dollar Index, which tracks the currency vs. America’s largest trading partners, fell by 0.7 % to 74.834, after reaching 74.679. This was the lowest level since August 2008.
Looking ahead to today, there is much exciting economic news that is set to be published from the U.S. The most significant of these will be the PPI and Core PPI at 13:30 GMT, the TIC Long-Term Purchases at 14:00 GMT and the Industrial Production publication at 14:15 GMT. All of these releases are set to have a very high impact on both the volatility and strength of the USD. The forex market is expected to go extremely volatile before, during and after these publications. Therefore, it is advised that you open your positions in the Dollar whilst the opportunity is available to make big returns today.
EUR – GBP Climbs as Optimism Kicks In
The British currency made significant gains during Tuesday’s trading day against its most traded currency counterparts. This was in part sparked by the optimism coming out of the British property market. Britain’s 2 largest property companies, British Land and Land Securities, are expected to announce higher than expected gains in the coming days. This helped produce much optimism in the British currency, which is very important, as the British economy is highly dependant on the British property market.
The British economy made significant gains against its major currency counterparts. The GBP/USD cross finished yesterday’s trading higher by a whopping 117 pips at the 1.6828 level. The British currency made significant inroads into the EUR, as the pair fell by 53 pips to the 0.8900 level. With regards to the EUR/USD pair, it rose by 20 pips to the 1.4985 level. Much of this behavior was due to a global stock market rally that was boosted by impressive U.S. Retail Sales figures. As was seen, riskier currencies such as the Pound were the main benefactors of this.
Today, there is scheduled to be much market moving data that will be released from both Britain and the Euro-Zone. From Britain, there will be the CPI and RPI at 09:30 GMT. From the Euro-Zone, there will be the publication of the Trade Balance figures at 10:00 GMT. Better-than-expected results are likely to boost both the GBP and EUR significantly. Also, it would be wise for traders to open large positions in GBP and EUR crosses as soon as possible. Doing so would ensure maximum market participation for Tuesday’s trading.
JPY – Yen Soars against the Dollar
The Yen soared against the Dollar in Monday’s trading, due to the GDP (Gross Domestic Product) of Japan (the second biggest economy) growing by 4.8 % in the 3rd quarter. This was the second consecutive increase since the start of the nation’s deepest postwar recession. The Yen also jumped due to Asian leaders promising to maintain the economic stimulus packages during a meeting in Singapore yesterday.
The Yen rose by 52 pips against the USD to close at the 89.04 level. The JPY also made impressive gains vs. the European currency. It seems that we are seeing evidence that the economic stimulus has helped Japan exit the recent recession. It is expected that the demand in Japan’s economy will eventually pick up. As a result, the Japanese economy and the Yen will continue to build on recent gains.
OIL – Crude Oil Rises by Most in 6 Weeks
Crude Oil rose by the most in 6-weeks on a weak USD and a stock market rally in the U.S. As a result, this boosted investor’s confidence that energy demand will increase significantly in the coming months. Crude Oil closed at $79.46 from an opening of $77.22. Crude was helped as traders bought-up the commodity as an alternative investment, due to the mass sell-off of the USD.
It seems that traders are optimistic about the U.S. and global economy. This has really helped Crude prices. However, the commodity may only rise significantly above $80, if we see more impressive data and significantly higher demand too. It seems that the Organization of Oil Petroleum Exporting Countries (OPEC) is happy with the current prices levels. They expect prices to rise in the very near future.
| EUR/USD | GBP/USD | USD/JPY | USD/CHF | AUD/USD | EUR/GBP | |
| Daily Trend |  |
 |
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 |
| Weekly Trend | |
|
|
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|
|
| Resistance | 1.5063 | 1.6920 | 89.98 | 1.0179 | 0.9405 | 0.8952 |
| 1.5031 | 1.6890 | 89.66 | 1.0148 | 0.9383 | 0.8930 | |
| 1.5000 | 1.6860 | 89.35 | 1.0114 | 0.9361 | 0.8909 | |
| Support | 1.4938 | 1.6798 | 88.04 | 1.0051 | 0.9319 | 0.8866 |
| 1.4906 | 1.6767 | 87.71 | 1.0019 | 0.9298 | 0.8842 | |
| 1.4874 | 1.6735 | 87.35 | 0.9988 | 0.9275 | 0.8819 |
Technical News
EUR/USD
The hourly chart is showing a bullish cross has formed on the pair’s Slow Stochastic Oscillator, indicating the potential for an upward price movement. As the pair fluctuates, it has been trading in the lower half of its Bollinger Bands. It appears the 20 day moving average is a significant resistance level. Traders may want to use the middle line as a level to take profits.
GBP/USD
The GBP/USD is displaying bearish signals. The 4-hour chart has a bearish cross which has formed on the Slow Stochastic Oscillator, indicating the potential for a downward price movement. This is supported by the Relative Strength Index, floating in the overbought zone, lending further support for potential price depreciation. Traders may want to be short on this pair today.
USD/JPY
The long term downward sloping trend continues today as the pair has fallen for the last 3 consecutive trading days. Per the hourly chart, the pair has been experiencing range trading between the price levels of 89.15 and 89.00. For the traders that recognize this established zone, significant profits can be made by placing stops and limits at these price levels.
USD/CHF
The hourly chart shows the pair has crossed back into its upper Bollinger Band after an earlier breakout. A bearish cross has formed on the Slow Stochastic Oscillator, indicating the potential for a downward price movement. Traders may want to catch the downward fluctuation that is in the same direction as the long term trend.
The Wild Card
Crude Oil
Crude Oil is displaying significant bearish signals after yesterday’s failed breach of the $80 price level. The 4-hour chart has the pair trading in the overbought zone on the pair’s Relative Strength Index, indicating a possible move lower. The chart also shows a bearish cross has formed on the Slow Stochastic Oscillator that may support this downward move. Forex and commodity traders may want to be short on Crude Oil today as a significant price move may be in the making.
// Popularity: 9% [?]
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How to use the Stochastics indicator to invest in Forex?
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What is the stochastics indicator?
Stichastics is an oscilating indicator very commonly used in technical analysis. George Lane, the developer of this indicator, applied it for the first time late in the year 1950s and early 1960s.
This indicator is measured on a scale from 0% to 100% and determines the deviation of the closing price on the market, compared with normal levels of a period set by the trader. It is important that you know that this indicator is not recommended to be used in trending markets, since it is less effective.
Using the stochastics indicator
The main idea of how the stochastics indicator works is that you need to see clearly how this indicator determines what’s going to happen in the market; an upward or downward trend, by looking specifically at the cross of the two indicator lines.
You can use this metric to calculate the levels of overbought / oversold levels (using the RSI indicator), also for finding points of entry at the intersection of lines and moving averages of the market direction and to identify points of divergence, with the aim of providing some weakness in the market.
This indicator is composed of two lines:
1. The main line is called: % K
In the main fluctuation line (% K) tends to be more distinguished than the secondary line (% D), because it is more sensible. It is represented in the graphs as a compact line.
2. The secondary line is called: % D
%D is the moving average line of % K line. It is represented in the graphs as a dotted line.
There are 3 types of stochastics: Slow, fast and full.
1. Fast Stochastics: Line % K is not uniform, so it will not show any moving average. This type tends to provide an early indication of a turnaround in the market.
2. Slow Stochastics: Contrary to the fast % K line it is a bit more uniform, using three periods moving averages of the values of the line % K, so it is called a Fast Stochastics derivative. This type of stochastics provides more reliable trading signals.
3. Full stochastics: Allows you to use the two lines: % K and % D.
As in other indicators, it is suggested that you make reference to the two lines between 20 and 80. These lines will serve to highlight potential overbought levels (above 80%) and oversold levels (below 20%).
The stochastics indicator provides 3 types of signals for trading in the Forex market:
1. Overbought/ Oversold: This signal occurs if the line passes over stochastics line of 80% and then the indicator goes back to the middle zone; the market should move in the same direction, which means a movement downwards. The same occur when the stochastics line passes below the line of 20% and then the indicator goes back to the middle zone; the market should move in the same direction which is an upward movement.
What to do? You must wait until the crossing is given between the lines to confirm the signal.
2. Crosses: This signal occurs if the two lines cross the upper zone (above 80% mark) and then, the indicator goes back to the middle zone; the market should move in the same direction, which means a movement downwards. The same thing happens when two lines crosses the lower zone (below 20% mark) and then the indicator goes back to the middle zone; the market should move in the same direction which is an upward movement. These moments are regarded as the strongest signals.
What to do? In this case you should sell at the intersection of the lines % K and % D when they are above the mark of 80% and buy at the intersection of the lines % K and % D, when it is below the line of 20%.
3. Divergences: It is considered the most important signal because it can be useful for confirming signals.
It is divided into:
• Bearish Divergence: This signal occurs when new high levels or new maxim levels appear and tend to go higher in the market and their corresponding peaks are progressively smaller. This is a potential sell signal. I.e. Price continues to move up but stochastic indicator fails to do so
• Bullish Divergence: The bullish divergence occurs when the market shows new consecutive and new low levels, and the corresponding minima are progressively larger. This is a possible buy signal. I.e. Price continues to move lower, but stochastics indicator fails to do so.
What to do? In this case, you sell a bearish divergence and you buy if it is a bullish divergence.
What you should NEVER do?
• Never buy or sell unless both lines cross.
• Never buy or sell, if you find crosses in the boundary lines marked or in the middle of the two limits.
• Do not use this indicator in markets with heavy trends.
Remember that no investment is risk free and a stochastics indicator in Forex will help you most effectively when it is used in conjunction with other tools and indicators.
// Popularity: 8% [?]
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Using the Bollinger Band indicator to invest in Forex
What are Bollinger bands? It is a technical analysis indicator used in the financial markets, which are used to determine market volatility and relative prices in a period of time determined by the trader.
This technique was developed by John Bollinger in the early 80’s. Bollinger was based on mathematical formulas commonly used by statisticians to determine the standard deviations of the data series and adapted for use in the Forex Market. Bollinger bands are used to determine over-bought and over-sold levels.
The use of Bollinger bands is more effective in markets without trend (ranging markets) and it is suggested that it should be applied in periods of 20 days but it may also be used even in periods of 50 days.
Bollinger bands consist of three lines drawn in relation to price action. These three lines are:
• The middle or central band: it is as a rule; a simple moving average and provides information on market trends. From the middle band it is calculated upper and lower bands by one standard deviation.
• The upper band: is equal to a moving average of 20 periods and 2 standard deviations above the moving average.
• The bottom band: is equal to a moving average of 20 periods and 2 standard deviations below the moving average.
How to use Bollinger bands to invest in Forex?
You can use this indicator to determine market volatility and relative prices. You must start tracing the 3 lines in the graphs, which provide you with the indications of when you should buy and sell.
In Markets without trends the strategy is to sell in higher bands and compared in the lower bands. The interval between the upper and lower band will provide you with information on the volatility or market activity. This means that the higher the volatility in the market is, the higher the standard deviation and because of that the bands are a little broader. If on the contrary, it happens that there is less volatility in the market, the lower the standard deviation and thus the bands will be narrower.
On the other hand, if you notice that prices will break through the upper band, in the band that is contrary, we must expect a continuation of current trends.
Calculate the moving average (MA) using the following formula:
MA = (P1+ … + Pn)/n
Pn = Price at an interval n
n = Number of periods
• Subtract the moving average (MA) of each data point (p) used in calculating the moving average. This will give you a list of deviations (d) of the mean:
• Finally, calculate the three Bollinger Bands using the following formulas:
Superior Band = MA + 2?
Media Band = MA
Lower Band = MA-2?
It is not recommend using this indicator in trending markets. But if you do, you should buy right on the break above the upper band and sell right on the break below the lower band. This is important if you notice that the bands shrink too fast (consolidation), it is likely to occur a violent break, a moment you can use to buy or sell.
Bollinger Bands provide you with 3 types of signals:
• Contractions (squeeze) means that there is less volatility in the market.
• Expansion (expansion) means that there is greater market volatility.
• 2.0 STDV close : Breakouts
What you should NEVER do?
• Never buy or sell without observing the candlestick patterns.
• Do not buy or sell if it has not detected a clear breakout of the market.
• Do not use this indicator in periods longer than 100 days.
• If prices touch the band alone, it does not mean that you should buy or sell. Never trade without a preliminary analysis.
Remember that no investment is risk free and the Bollinger Band indicator in Forex will help you most effectively when it is used in conjunction with other tools.
// Popularity: 12% [?]
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Currency News – Thursday, 10 December 2009 December 20th, 2009
Economic News
USD – Dollar Slides Amid Increased Investor Risk Taking
Following an upbeat trading day Wednesday on the U.S. stock market, the Dollar slid against its major counterparts for the first time since last Friday’s unemployment figures. The Dollar Index dropped to 76.043 from 76.236 as investors began to speculate whether rumors of an impending hike in U.S. interest rates may have been slightly premature. The increase in stocks led to significant gains for the Euro, which was trading above the 1.4730 mark earlier. While the Dollar may have had a rough day in trading, there are several news events on Thursday that promise to create some volatility in the market.
Set to be released at 13:30 GMT, the weekly U.S. unemployment claims report will be a telling statistic as to whether last weeks report was merely a fluke, or the American job market is really improving. If the number comes in at or around the forecasted 463K, the Dollar may make some gains, as the number is roughly the same as last weeks’. If the figure comes in at a significantly higher number, the Dollar could be pushed further down as this would signal the American economy is still not on stable ground.
EUR – EUR Makes Gains Following Positive ECB Rate Outlook
Amid speculation that a report being released on Thursday will show an increase in production in Italy and France, the Euro made impressive gains against both the Dollar and Yen in early morning trading. This is leading to speculation that the European Central Bank (ECB) may be able to abandon its policy of accommodating its banks in the near future.
Traders may want to pay attention to any news coming out of the ECB. Positive economic data could signal that Europe is recovering faster then America and Japan, and could lead to further gains for the EUR. At the same time, if the U.S. unemployment figures come in as expected, the Euro could lose ground on the dollar. A stable U.S. jobs market will likely lead to gains for the Dollar and could result in a repeat of this past week’s EUR losses.
Against the Yen, the EUR made gains after a strong Australian jobs report brought back investors to risk taking. It would appear that the positive news from Australia has halted the gains the Yen had made in the last few days. With the European production figures set to be released today, the Euro could emerge even stronger in afternoon trading.
JPY – Yen Falls Following Australian Jobs Report
Following yesterday’s gains against the Dollar and EUR, the Yen took steep losses after a very good Australian jobs report on Thursday morning. Investors appeared to be abandoning their safe haven positions with the Yen in favor of riskier currencies like the Aussie and Kiwi. Consequently the Yen fell to below 130.00 against the Euro in early morning trading.
Looking ahead, traders may want to pay attention to the news coming out of Europe and America. Any negative European news would increase the Yen’s appeal as a safe haven currency and could lead to serious gains. At the same time, positive news from Europe may lead to a prolonged drop in the Yen against its major counterparts.
Crude Oil – Crude Prices Fall Following Inventories Report
Following a U.S. inventories report showing an increase in distillate oil stockpiles, crude prices fell as there appears to be a glut of the commodity in the American market. While crude oil inventories actually fell, investors largely seemed to ignore this, instead choosing to pay attention to oil overall. Consequently the price of crude fell to just above $70.00 a barrel.
Most analysts are predicting that crude oil prices will stay low for sometime, as a weak economy is forcing many Americans to cut down on fuel consumption. That being said, any positive employment news coming from the U.S. could lead to an increase in prices. Economic gains made in the U.S. will likely lead to an increase in consumption, especially as the weather gets continuously colder.
| EUR/USD | GBP/USD | USD/JPY | USD/CHF | AUD/USD | EUR/GBP | |
| Daily Trend | |
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| Weekly Trend | |
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| Resistance | 1.4790 | 1.6325 | 88.50 | 1.0355 | 0.9205 | 0.9130 |
| 1.4770 | 1.6305 | 88.30 | 1.0335 | 0.9185 | 0.9110 | |
| 1.4740 | 1.6275 | 88.00 | 1.0305 | 0.9155 | 0.9080 | |
| Support | 1.4680 | 1.6215 | 87.40 | 1.0245 | 0.9095 | 0.9020 |
| 1.4650 | 1.6185 | 87.10 | 1.0215 | 0.9065 | 0.8990 | |
| 1.4630 | 1.6165 | 86.90 | 1.0195 | 0.9045 | 0.8970 |
Technical News
EUR/USD
The cross has been dropping for the past week now, as it now stands at the 1.4710 level. The Slow Stochastic of the daily chart shows a bullish cross has recently formed, indicating that an upward correction is imminent. This view is also supported by the RSI of the 4-hour chart. Going long might be a wise choice.
GBP/USD
The hourly chart is showing mixed signals with its RSI fluctuating at the neutral territory. However, the 4-hour Chart’s RSI is already floating in the oversold territory indicating that a bullish correction might take place in the nearest future. Going long with tight stops may turn out to pay off today.
USD/JPY
The typical range trading on the hourly chart continues. The daily chart RSI is floating in neutral territory. However, the pair currently sits near the bottom border of the 4-hour chart’s RSI, suggesting an upward correction may be imminent. When the upwards breach occurs, going long with tight stops appears to be preferable strategy.
USD/CHF
The bullish trend is loosing its steam and the pair seems to consolidate around the 1.0280 level. The 4-hour Chart’s RSI is already floating in the overbought territory indicating that downwards correction might take place in the nearest time frame. When the downwards breach occurs, going short with tight stops appears to be preferable strategy.
The Wild Card
Crude Oil
Oil prices are once again dropping, and it is currently traded around $70.50 per barrel. And now, the daily chart’s Slow Stochastic is giving bullish signals, indicating that Oil prices might go up. This might give forex traders a great opportunity to enter a very popular trend.
// Popularity: 3% [?]
forx news
- November 21, 2009 — Currency News – Thursday, 12 November 2009 (0)
Economic News USD – Unemployment Claims Report on Tap – Will USD Weakness Continue? The Dollar hit a 15-month low against major currencies on Wednesday on the view that U.S. Interest Rates… - November 21, 2009 — Currency News – Tuesday, 10 November 2009 (0)
Economic News USD – Dollar Falls on Higher Risk Appetite The Dollar fell dramatically on Monday against a basket of currencies on higher risk appetite. This included slipping to a 3-month low vs… - November 29, 2009 — Currency News – Friday, 27 November 2009 (0)
Economic News USD – Dollar Rebounds From 14-year Low vs. Yen The U.S. Dollar rebounded versus most major rivals Thursday, benefiting from safe-haven flows amid fears of a potential sovereign … - December 20, 2009 — Currency News – Wednesday, 16 December 2009 (0)
Economic News USD – Dollar Trades Higher vs. EUR on Rate Outlook The U.S dollar held near a 2-? month high on the EUR and kept a firmer footing against the Japanese yen on Wednesday as the marke… - November 26, 2009 — Currency News – Thursday, 26 November 2009 (0)
Economic News USD – Dollar Falls to a 15 Month Low The dollar dropped to a 15-month low against most of its major currency pairs yesterday, as generally upbeat U.S. economic data and gains in… - November 26, 2009 — Currency News – Tuesday, 24 November 2009 (0)
Economic News USD – USD Falls Amid Gains In The Stock Market Following Monday’s announcement that existing U.S. home sales in November were better then forecasted, Wall Street had an impre… - November 21, 2009 — Currency News – Friday, 20 November 2009 (0)
Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR and other higher yielding currencies on Thursday following the release of weak U.S. economic data and … - November 21, 2009 — Currency News – Thursday, 19 November 2009 (0)
Economic News USD – Dollar Retreats after 3 Week’s Rally The U.S dollar advanced against the EUR Thursday on speculation U.S. investors are bringing back overseas funds toward year-end and… - November 21, 2009 — Currency News – Wednesday, 18 November 2009 (0)
Economic News USD – Bernanke Statements Diminish USD in Short-Term; Strength Ahead? Following the USD’s minor slide in yesterday’s trading, it appears the greenback has started to re… - November 21, 2009 — Currency News – Friday, 13 November 2009 (0)
Economic News USD – Dollar Rises on Geithner Comments The Dollar broke its recent trend yesterday, as the greenback strengthened against the EUR. Calls by Pacific nations for the Dollar to appre… - December 20, 2009 — Currency News – Friday, 18 December 2009 (0)
Economic News USD – Dollar Climbs to Three Month High Versus the EUR The Dollar once again made large gains against a basket of currencies during Thursday’s trading, climbing to a new thre… - December 20, 2009 — Currency News – Friday, 11 December 2009 (0)
Economic News USD – USD Mixed Against Major Currencies The Dollar experienced a mixed trading day yesterday, advancing on the Yen but staying little changed against the EUR and U.K. pound. The d… - November 26, 2009 — Currency News – Wednesday, 25 November 2009 (0)
Economic News USD – Dollar Sentiment Pressured by Fed Comments The USD held on to modest gains Tuesday as equities and commodities declined. However, pressure on Dollar sentiment came following … - November 26, 2009 — Currency News – Monday, 23 November 2009 (0)
Economic News USD – Is the Dollar Recovering? The Dollar corrected some of its losses against the Euro and the Pound during last week’s trading session. The Dollar gained about 200 pips a… - November 21, 2009 — Currency News – Tuesday, 17 November 2009 (0)
Economic News USD – Dollar Tumbles on All Fronts The U.S. Dollar fell against all of its major currency pairs yesterday. This was in response to traders dropping the USD, as stocks climbed after… - November 21, 2009 — Currency News – Wednesday, 11 November 2009 (0)
Economic News USD – Dollar Recovers modestly off 15-mth Lows The U.S Dollar edged up on Tuesday, reversing some of its recent losses but staying close to a 15-month low against a currency basket… - December 20, 2009 — Currency News – Thursday, 17 December 2009 (0)
Economic News USD – Dollar Makes Big Gains Following FED Statement The USD got another boost Wednesday evening after the Federal Reserve Bank (FED) issued a statement saying that there are defin… - December 20, 2009 — Currency News – Tuesday, 15 December 2009 (0)
Economic News USD – Dollar Falls on Dubai Bailout The dollar slipped slightly against most of its major counterparts on Monday after Dubai’s announcement it had received help from Abu Dhab… - December 20, 2009 — Currency News – Monday, 14 December 2009 (0)
Economic News USD – Dollar Continues to Strengthen The Dollar continued to rise on all fronts last week. The Dollar climbed about 300 pips against the Euro, as the EUR/USD pair dropped below the… - November 21, 2009 — Currency News – Monday, 16 November 2009 (0)
Economic News USD – Dollar Continues to Weaken Following Disappointing Data The Dollar continued to weaken during last week’s trading session. The Dollar extends its slow yet steady slide … - December 25, 2009 — Currency News – Thursday, 24 December 2009 (0)
Economic News USD – Dollar Take Losses Following Home Sales Report According to a new report released yesterday, new home sales in the U.S. have fallen to a 7-month low. Despite the numerous po… - December 23, 2009 — Currency News – Wednesday, 23 December 2009 (0)
Economic News USD – Dollar Moves Higher on Positive Economic Data Yesterday’s trading had the dollar climbing higher against a basket of currencies after data released from the States sug… - December 12, 2009 — Dollar Gains As The Markets Become Cautious (0)
By Mercaforex USD: With little in the way of economic data from the U.S. on Tuesday, the USD continued to get stronger against both the EUR and GBP. The greenback continued to get stronger as Wall… - December 23, 2009 — Currency News – Tuesday, 22 December 2009 (0)
Economic News USD – Dollar Continue to Strengthen Against Rivals The Dollar was up again most major rivals Monday on expectations of continuing improvement in the U.S economy ahead of this week… - December 23, 2009 — Currency News – Monday, 21 December 2009 (0)
Economic News USD – Dollar’s Rally Continues The Dollar continued its rally last week. The Dollar strengthened against all the major currencies during last week’s session. The EUR/U… - December 2, 2009 — The Dubai ‘Spill’ Alters Landscape (0)
By Mercaforex USD: Dubai’s sudden and rather amazing entry into the mix of bad economic news on Friday shook the broad marketplaces to its core on Friday, including the USD. Currency markets becam… - November 26, 2009 — Market News (0)
Daily Market Commentary for November 25, 2009 Market News Stocks were rising this morning after market news and a better than expected report on weekly jobless claims. (Read more at Millennium-T… - November 24, 2009 — Daily Review 24/11/2009 (0)
USD Dollar (USD) The rally in Europe and Wall Street put pressure on the Dollar that fell across the board and rose only against the Yen. The existing home sales data that came at 6.1M, better th… - November 24, 2009 — USD Volcano Erupted On Friday (0)
By Mercaforex Analysis is subjective at best and there is no scientific absolute one can bring forth through quantitative mathematical formulas to show why markets moved in any particular fashion. … - November 22, 2009 — Joblessness Hampers Recovery Hope (0)
By Mercaforex USD: The life of the USD was given another breath of oxygen on Wednesday as the U.S. stock indexes went south. After three days of gains from Wall Street, share values dropped yester… - November 15, 2009 — Wal-Mart (0)
Daily Market Commentary for November 12, 2009 Wal-Mart Retail giant Wal-Mart reported its earnings for the third-quarter rose by over 3%, however the company issued disappointing forecasts for … - December 25, 2009 — U.S. Personal Spending (0)
Daily Market Commentary for December 23, 2009 U.S. Personal Spending U.S. personal spending rose in November at the fastest growing pace in six months. (Read more at Millennium-Traders.Com) E… - December 20, 2009 — EUR/USD tests 3-month lows at 1.4300 again, but it could rise back to 1.50 – Danske Bank (0)
FXstreet.com (Barcelona) – The recent Dollar’s straightening against the Euro during the last three weeks has continued today’s Friday session. Since December 3, the EUR/USD has fallen from 16-month h… - December 20, 2009 — Earnings (0)
Daily Market Commentary for December 18, 2009 Earnings Earnings reports from technology companies sparked trader’s attention, sending stocks soaring. (Read more at Millennium-Traders.Com) Eco… - December 12, 2009 — Foreclosures (0)
Daily Market Commentary for December 10, 2009 Foreclosures Foreclosures were on the fall again this month, making it the fourth straight monthly decline. (Read more at Millennium-Traders.Com) … - December 12, 2009 — Retail Sales Trend (0)
Daily Market Commentary for December 11, 2009 Retail Sales Trend Retail sales trends have been better than expected for two straight months, leading analysts to believe sales will be up in Decem… - December 12, 2009 — Daily Review 11/12/2009 (0)
USD Dollar (USD) The Dollar traded with a narrow range versus most majors as mixed data was released in the US. The initial Jobless claims rose by 17K coming at 474K but the trade balance deficit… - December 6, 2009 — Job Market (0)
Daily Market Commentary for December 4, 2009 Job Market Investors finally got the news they were looking for this morning when the Labor Department released it’s highly anticipated report on the… - November 26, 2009 — Investors Attention Questioned (0)
By Mercaforex USD: A classic pre-holiday trading session took place in the U.S. markets on Tuesday. There was plenty of economic data to examine for investors but little in the way of direction on… - November 24, 2009 — Gold Prices Today (0)
Daily Market Commentary for November 23, 2009 Gold Prices Today Gold prices today hit yet another new record high; analysts don’t expect to see it stop anytime soon. (Read more at Millennium-Tra…
Currency News – Friday, 11 December 2009 December 20th, 2009
Economic News
USD – USD Mixed Against Major Currencies
The Dollar experienced a mixed trading day yesterday, advancing on the Yen but staying little changed against the EUR and U.K. pound. The dollar rose above 76 earlier and lately bought 75.996 and compared to 75.987 on Wednesday. The USD dropped as much as 1.3% versus the New Zealand while the Australian Dollar rose 1.1% against the greenback.
The number of people in the U.S. receiving unemployment insurance continues to decline, dropping to the lowest level since February. The US trade Deficit also declined unexpectedly as a weak Dollar boosted exports oversees.
Looking ahead for today, the US Retail Sales is expected to be released at 13:30 GMT and the Prelim UoM Consumer Sentiment at 14:55 GMT. With mostly better than expected economic data seen lately from the U.S., worse than expected results might prove quite volatile for the USD pairs.
EUR – EUR under Pressure over Ratings Concerns
The EUR was under pressure Thursday over concerns of high debt levels of some of its member countries. Greece had its rating downgraded and Spain had its outlook lowered to negative. Portugal was also warned of a possible downgrade. Late Thursday the EUR was unchanged at $1.4730 and at 129.94 Yen from 129.41 Yen. The Pound was at $1.6274 from $1.6270.
The currency posted little reaction to Thursday’s decision by the Bank of England to leave its key lending rate unchanged at a record low 0.5%. The Bank of England also maintained its asset-buying program at 200 billion pounds ($326 billion), in line with the economists’ forecasts.
While positive economic data continues to come from Germany, Euro-Zone’s largest economy concerns about sovereign ratings in the Euro-Zone’s smaller countries and the potential for choppy economic growth seem to be putting downward pressure on the EUR at the moment, possibly pushing it even lower against the USD.
JPY – Yen Declines as Risk Appetite Returns
As the stream of positive economic data from the U.S continues, the Yen continues to decline against the Dollar as well as riskier currencies as demand for higher-yielding assets returns. The Yen traded at 129.97 per EUR in today’s early trading, after weakening 0.4% yesterday and was at 88.43 against the Dollar. With a return to risk appetite, the JPY returns to be the primary funding currency.
OIL – Oil Prices Decline for 7th Day
Crude levels declined for a seventh straight day, ending at a two month low Thursday as concerns of oversupply and low demand persist. Light, sweet Crude Oil for January delivery on the New York Mercantile Exchange settled down 13 cents at $70.54, the lowest level since Oct. 7th.
With renewed attention to supply and demand, confidence that demand in the world’s biggest energy-consuming country is recovering is deteriorating. With gasoline supplies at the highest level since April and a stronger Dollar, investors’ appetite for commodities continues to decline. With few fundamentals supporting high Oil prices, there is room for Oil level to decline further.
| EUR/USD | GBP/USD | USD/JPY | USD/CHF | AUD/USD | EUR/GBP | |
| Daily Trend | |
|
|
|
|
|
| Weekly Trend | |
|
|
|
|
|
| Resistance | 1.4890 | 1.6525 | 90.10 | 1.0360 | 0.9245 | 0.9096 |
| 1.4825 | 1.6425 | 89.75 | 1.0335 | 0.9225 | 0.9075 | |
| 1.4775 | 1.6380 | 89.25 | 1.0300 | 0.9190 | 0.9055 | |
| Support | 1.4665 | 1.6225 | 88.25 | 1.0235 | 0.9115 | 0.9020 |
| 1.4610 | 1.6160 | 87.75 | 1.0195 | 0.9075 | 0.9008 | |
| 1.4530 | 1.6075 | 87.40 | 1.0165 | 0.9255 | 0.8990 |
Technical News
EUR/USD
There is a fresh bullish cross forming on the daily chart’s Slow Stochastic indicating a bullish correction might take place in the nearest future. The upward direction on the hourly chart’s Momentum oscillator also supports this notion. When the upward breach occurs, going long with tight stops appears to be preferable strategy
GBP/USD
The daily chart is showing mixed signals with its RSI fluctuating at the neutral territory. However, the 1 hour Chart’s RSI is already floating in the overbought territory indicating that a bearish correction might take place in the nearest future. When the downwards breach occurs, going short with tight stops appears to be preferable strategy.
USD/JPY
The pair’s bullish momentum continues with full steam, as it crossed the 88.80 level yesterday, and seems ready to test the 89.25 level. Should a breach occur, another bullish move might take place.
USD/CHF
The typical range trading on the hourly chart continues. Both the RSI and Slow Stochastic are floating in neutral territory. The hourlies are also providing mixed signals with no specific direction. Good strategy might be to wait for a clearer signal before entering the market in this pair.
The Wild Card
Silver
Silver prices are testing new lows on a daily basis now as a breach through $17.75 was made yesterday. The daily chart shows that the price has lowered beneath the Bollinger Bands, indicating that the downtrend has more room to go. This could give forex traders a great opportunity to enter a very promising trend.
// Popularity: 3% [?]
forx news
- November 21, 2009 — Currency News – Friday, 20 November 2009 (0)
Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR and other higher yielding currencies on Thursday following the release of weak U.S. economic data and … - November 29, 2009 — Currency News – Friday, 27 November 2009 (0)
Economic News USD – Dollar Rebounds From 14-year Low vs. Yen The U.S. Dollar rebounded versus most major rivals Thursday, benefiting from safe-haven flows amid fears of a potential sovereign … - November 26, 2009 — Currency News – Thursday, 26 November 2009 (0)
Economic News USD – Dollar Falls to a 15 Month Low The dollar dropped to a 15-month low against most of its major currency pairs yesterday, as generally upbeat U.S. economic data and gains in… - November 26, 2009 — Currency News – Wednesday, 25 November 2009 (0)
Economic News USD – Dollar Sentiment Pressured by Fed Comments The USD held on to modest gains Tuesday as equities and commodities declined. However, pressure on Dollar sentiment came following … - November 21, 2009 — Currency News – Thursday, 19 November 2009 (0)
Economic News USD – Dollar Retreats after 3 Week’s Rally The U.S dollar advanced against the EUR Thursday on speculation U.S. investors are bringing back overseas funds toward year-end and… - November 21, 2009 — Currency News – Thursday, 12 November 2009 (0)
Economic News USD – Unemployment Claims Report on Tap – Will USD Weakness Continue? The Dollar hit a 15-month low against major currencies on Wednesday on the view that U.S. Interest Rates… - November 21, 2009 — Currency News – Tuesday, 10 November 2009 (0)
Economic News USD – Dollar Falls on Higher Risk Appetite The Dollar fell dramatically on Monday against a basket of currencies on higher risk appetite. This included slipping to a 3-month low vs… - December 20, 2009 — Currency News – Friday, 18 December 2009 (0)
Economic News USD – Dollar Climbs to Three Month High Versus the EUR The Dollar once again made large gains against a basket of currencies during Thursday’s trading, climbing to a new thre… - December 20, 2009 — Currency News – Wednesday, 16 December 2009 (0)
Economic News USD – Dollar Trades Higher vs. EUR on Rate Outlook The U.S dollar held near a 2-? month high on the EUR and kept a firmer footing against the Japanese yen on Wednesday as the marke… - November 21, 2009 — Currency News – Wednesday, 11 November 2009 (0)
Economic News USD – Dollar Recovers modestly off 15-mth Lows The U.S Dollar edged up on Tuesday, reversing some of its recent losses but staying close to a 15-month low against a currency basket… - November 26, 2009 — Currency News – Tuesday, 24 November 2009 (0)
Economic News USD – USD Falls Amid Gains In The Stock Market Following Monday’s announcement that existing U.S. home sales in November were better then forecasted, Wall Street had an impre… - November 26, 2009 — Currency News – Monday, 23 November 2009 (0)
Economic News USD – Is the Dollar Recovering? The Dollar corrected some of its losses against the Euro and the Pound during last week’s trading session. The Dollar gained about 200 pips a… - December 20, 2009 — Currency News – Thursday, 17 December 2009 (0)
Economic News USD – Dollar Makes Big Gains Following FED Statement The USD got another boost Wednesday evening after the Federal Reserve Bank (FED) issued a statement saying that there are defin… - December 20, 2009 — Currency News – Monday, 14 December 2009 (0)
Economic News USD – Dollar Continues to Strengthen The Dollar continued to rise on all fronts last week. The Dollar climbed about 300 pips against the Euro, as the EUR/USD pair dropped below the… - December 20, 2009 — Currency News – Thursday, 10 December 2009 (0)
Economic News USD – Dollar Slides Amid Increased Investor Risk Taking Following an upbeat trading day Wednesday on the U.S. stock market, the Dollar slid against its major counterparts for the f… - November 21, 2009 — Currency News – Wednesday, 18 November 2009 (0)
Economic News USD – Bernanke Statements Diminish USD in Short-Term; Strength Ahead? Following the USD’s minor slide in yesterday’s trading, it appears the greenback has started to re… - November 21, 2009 — Currency News – Friday, 13 November 2009 (0)
Economic News USD – Dollar Rises on Geithner Comments The Dollar broke its recent trend yesterday, as the greenback strengthened against the EUR. Calls by Pacific nations for the Dollar to appre… - December 20, 2009 — Currency News – Tuesday, 15 December 2009 (0)
Economic News USD – Dollar Falls on Dubai Bailout The dollar slipped slightly against most of its major counterparts on Monday after Dubai’s announcement it had received help from Abu Dhab… - November 21, 2009 — Currency News – Tuesday, 17 November 2009 (0)
Economic News USD – Dollar Tumbles on All Fronts The U.S. Dollar fell against all of its major currency pairs yesterday. This was in response to traders dropping the USD, as stocks climbed after… - November 21, 2009 — Currency News – Monday, 16 November 2009 (0)
Economic News USD – Dollar Continues to Weaken Following Disappointing Data The Dollar continued to weaken during last week’s trading session. The Dollar extends its slow yet steady slide … - December 12, 2009 — Dollar Gains As The Markets Become Cautious (0)
By Mercaforex USD: With little in the way of economic data from the U.S. on Tuesday, the USD continued to get stronger against both the EUR and GBP. The greenback continued to get stronger as Wall… - December 25, 2009 — Currency News – Thursday, 24 December 2009 (0)
Economic News USD – Dollar Take Losses Following Home Sales Report According to a new report released yesterday, new home sales in the U.S. have fallen to a 7-month low. Despite the numerous po… - December 23, 2009 — Currency News – Wednesday, 23 December 2009 (0)
Economic News USD – Dollar Moves Higher on Positive Economic Data Yesterday’s trading had the dollar climbing higher against a basket of currencies after data released from the States sug… - December 23, 2009 — Currency News – Monday, 21 December 2009 (0)
Economic News USD – Dollar’s Rally Continues The Dollar continued its rally last week. The Dollar strengthened against all the major currencies during last week’s session. The EUR/U… - December 23, 2009 — Currency News – Tuesday, 22 December 2009 (0)
Economic News USD – Dollar Continue to Strengthen Against Rivals The Dollar was up again most major rivals Monday on expectations of continuing improvement in the U.S economy ahead of this week… - November 21, 2009 — The Most Traded Forex pairs (0)
As you know, the Forex currency market is based on the buying and selling of currencies of certain countries. It is based on the exchange rate; This means the purchase of one currency in exchange for… - November 15, 2009 — Reading a Forex Quote (0)
Total newbies to the foreign exchange market can find reading a Forex quite intimidating (even baffling) at first. In fact, this is the most common initial hurdle. The quote is brief, but it packs in … - November 26, 2009 — Market News (0)
Daily Market Commentary for November 25, 2009 Market News Stocks were rising this morning after market news and a better than expected report on weekly jobless claims. (Read more at Millennium-T… - November 22, 2009 — Joblessness Hampers Recovery Hope (0)
By Mercaforex USD: The life of the USD was given another breath of oxygen on Wednesday as the U.S. stock indexes went south. After three days of gains from Wall Street, share values dropped yester… - November 15, 2009 — Wal-Mart (0)
Daily Market Commentary for November 12, 2009 Wal-Mart Retail giant Wal-Mart reported its earnings for the third-quarter rose by over 3%, however the company issued disappointing forecasts for … - December 20, 2009 — Earnings (0)
Daily Market Commentary for December 18, 2009 Earnings Earnings reports from technology companies sparked trader’s attention, sending stocks soaring. (Read more at Millennium-Traders.Com) Eco… - December 12, 2009 — Foreclosures (0)
Daily Market Commentary for December 10, 2009 Foreclosures Foreclosures were on the fall again this month, making it the fourth straight monthly decline. (Read more at Millennium-Traders.Com) … - December 12, 2009 — Retail Sales Trend (0)
Daily Market Commentary for December 11, 2009 Retail Sales Trend Retail sales trends have been better than expected for two straight months, leading analysts to believe sales will be up in Decem… - December 6, 2009 — Job Market (0)
Daily Market Commentary for December 4, 2009 Job Market Investors finally got the news they were looking for this morning when the Labor Department released it’s highly anticipated report on the… - November 25, 2009 — Forexpros.com Daily Analysis – 25/11/2009 (0)
Forexpros Daily Analysis Nov 25, 2009 Free webinar – Strategic & Tactical FOREX Trading Expert: Wayne McDonell When: Thu, Dec 3, 2009, 11:00 EST In this educational presentation you wi… - November 24, 2009 — Gold Prices Today (0)
Daily Market Commentary for November 23, 2009 Gold Prices Today Gold prices today hit yet another new record high; analysts don’t expect to see it stop anytime soon. (Read more at Millennium-Tra… - November 24, 2009 — USD Volcano Erupted On Friday (0)
By Mercaforex Analysis is subjective at best and there is no scientific absolute one can bring forth through quantitative mathematical formulas to show why markets moved in any particular fashion. … - November 21, 2009 — Top 10 Favorites on DailyFX.com (0)
DailyFX.com (www.dailyfx.com) FXCM’s free news Web site, had a complete site overhaul and the new fresh, easier to navigate layout was launched last week. DailyFX is constantly expanding and improving… - November 21, 2009 — Bear Market (0)
Daily Market Commentary for November 20, 2009 Bear Market Stocks opened lower today extending the two-day bear market; investors focused their attention towards the technology sector, they showe… - November 15, 2009 — Trade Deficit (0)
Daily Market Commentary for November 13, 2009 Trade Deficit Stocks rose slightly today as the Commerce department reported a larger-than-expected increase in the trade deficit, topping analysts…
Currency News – Wednesday, 16 December 2009 December 20th, 2009
Economic News
USD – Dollar Trades Higher vs. EUR on Rate Outlook
The U.S dollar held near a 2-? month high on the EUR and kept a firmer footing against the Japanese yen on Wednesday as the market waited to see if the U.S. Federal Reserve would give any signal on when Interest Rates might begin to rise.
The greenback was near a 1-week high against the Yen before reports forecast to show U.S. housing starts rebounded and consumer prices gained. Traders increased bets that the Fed will raise its policy rate by June as the Federal Open Market Committee (FOMC) began a 2 day rate-setting meeting.
The U.S dollar traded at $1.4542 per EUR from $1.4538 yesterday when it reached $1.4504, the strongest level since Oct. 2nd. The U.S. currency was at 89.58 yen from 89.61 yesterday after reaching 89.95, the strongest level since Dec. 7th.
Fed policy makers are expected to keep benchmark rates steady and retain the vast majority of the forward-looking portions of its statement on the economy due this afternoon. With data pointing to the upside in the U.S. economy, there is a growing speculation that there will be a change in rhetoric on monetary easing. Analysts said investors were keen to close short positions built up in the Dollar all year before 2009 book closings and that this may support the USD for the rest of the week and into next.
EUR – EUR Falls Broadly on Bank Concerns
The EUR was under pressure amid worries about the health of Austria’s financial institutions after a report that the country’s fourth-largest financial institution was facing capital problems. The single currency fell on Tuesday on Euro-Zone bank concerns and data suggesting growth in the region remained weak, while a slip in German economic sentiment also prompted traders to dump the single currency. The Austrian news added to worries over debt in Greece and Dubai, putting more pressure on the European currency.
The EUR held steady at $1.4525 in early Asian trade, after falling nearly 1% the previous day and hitting $1.4503; its lowest since early October. Against the British Pound, the EUR traded at 89.35 pence from 89.36 yesterday when it dropped 0.6%. The European currency may fall for a 5th day versus the Pound as Greece struggles to address concerns that it isn’t doing enough to reduce its debt, and as Austria has nationalized Hypo Alpe-Adria Bank International AG.
Demand for the EUR broadly weakened after a European Central Bank (ECB) council member said he sees no need to raise Interest Rates in the first half of 2010 as inflation pressures stay muted. A report by Austria’s Die Presse which said monetary authorities had put Oesterreichische Volksbanken, the nation’s No. 4 bank, on a watch list also knocked the EUR. The bank said the report was inaccurate. Still, risk-averse traders sold the currency following the report, which came a day after Vienna said it would nationalize one of its banks to avoid a collapse.
JPY – JPY Falls on Dubai Default Concerns
The Japanese yen fell against 12 of its 16 major counterparts as easing concern of a default in Dubai curbed demand for the Japanese currency. Abu Dhabi yesterday pledged $10 billion of aid to Dubai, allowing Dubai World’s real-estate unit to avoid default on $4.1 billion of bond payments.
With a vast majority of economic news today focusing on Europe and the United States, the Japanese Yen may take a backseat to today’s other major currencies. If the USD can hold its recent strength, and if the EUR continues to fall amid international concerns such as Greece and Dubai’s recent woes, then the JPY may also continue its recent trends.
Crude Oil – Crude Advances on U.S. Industrial Output
Oil prices were near $71 a barrel Wednesday, after rising for the first time in 10 days, on a report that U.S. factories churned out more goods in November than anticipated, a signal that fuel demand will increase.
Crude Oil traded at $70.78 a barrel, up 9 cents. Yesterday, the commodity rose $1.18, or 1.7%, to settle at $70.69. Oil gains were pared after the American Petroleum Institute reported yesterday that crude inventories rose by 924,000 barrels last week.
Crude Oil posted a 1.7% gain, ending a 9-session losing streak, as the Organization of Petroleum Exporting Countries (OPEC) lifted its global demand forecast. Traders also bet on a drop in U.S. inventories but the API estimated these rose by 924,000 barrels last week. The Energy Information Administration will release its more closely followed report Wednesday at 15:30 GMT.
| EUR/USD | GBP/USD | USD/JPY | USD/CHF | AUD/USD | EUR/GBP | |
| Daily Trend | |
|
|
|
|
|
| Weekly Trend | |
|
|
|
|
|
| Resistance | 1.4643 | 1.6334 | 90.36 | 1.0508 | 0.9037 | 0.9009 |
| 1.4611 | 1.6302 | 90.03 | 1.0476 | 0.9016 | 0.8988 | |
| 1.4580 | 1.6271 | 89.72 | 1.0445 | 0.8995 | 0.8967 | |
| Support | 1.4498 | 1.6208 | 89.11 | 1.0384 | 0.8954 | 0.8925 |
| 1.4466 | 1.6177 | 88.80 | 1.0352 | 0.8931 | 0.8903 | |
| 1.4432 | 1.6146 | 88.48 | 1.0321 | 0.8910 | 0.88.81 |
Technical News
EUR/USD
This pair is giving off mixed signals between the hourly and 4-hour charts. On the hourly side there appears to be a bearish cross on the Stochastic (slow) while the RSI has also entered the over-bought territory. However, the 4-hour chart shows the RSI in the over-sold territory and a fresh bullish cross on the Stochastic (slow). This pair is definitely awaiting a volatile movement with tightening Bollinger Bands on the hourly chart, but the direction is uncertain. Waiting for a clearer signal may be a wise choice.
GBP/USD
With many indicators floating in the neutral territory, and as this pair continues to float inside a flat trading range, it may also be wise to wait for a more clear indication of direction. However, there do appear to be bullish crosses on both the hourly and 4-hour MACDs, which suggest an impending upward movement. Going long may not be a bad tactic for the next few hours.
USD/JPY
There appear to be fresh bearish crosses on the hourly and 4-hour MACD indicators, suggesting an impending bearish move. Another bearish cross has been completed on the 4-hour Stochastic (slow) and the price is now slowly cascading downward. Going short today may be the best strategy.
USD/CHF
The price of this pair appears to be floating in the over-bought territory on the 4-hour RSI, suggesting downward pressure. With bearish crosses on the hourly and 4-hour MACD, as well as on the 4-hour Stochastic (slow), a downward movement seems imminent. Going short may be a good choice.
The Wild Card
GBP/CHF
The Bollinger Bands on the hourly chart have begun to tighten which suggests a volatile movement is impending. There appear to be fresh bearish crosses on the 4-hour and daily charts’ Stochastic (slow) and the price is also floating in the over-bought territory on the daily RSI, all suggesting a strong bearish expectation. Forex traders won’t want to miss out on what appears to be an imminent downward movement on this pair.
// Popularity: 4% [?]
forx news
- November 21, 2009 — Currency News – Wednesday, 11 November 2009 (0)
Economic News USD – Dollar Recovers modestly off 15-mth Lows The U.S Dollar edged up on Tuesday, reversing some of its recent losses but staying close to a 15-month low against a currency basket… - November 21, 2009 — Currency News – Tuesday, 10 November 2009 (0)
Economic News USD – Dollar Falls on Higher Risk Appetite The Dollar fell dramatically on Monday against a basket of currencies on higher risk appetite. This included slipping to a 3-month low vs… - November 21, 2009 — Currency News – Friday, 20 November 2009 (0)
Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR and other higher yielding currencies on Thursday following the release of weak U.S. economic data and … - November 26, 2009 — Currency News – Thursday, 26 November 2009 (0)
Economic News USD – Dollar Falls to a 15 Month Low The dollar dropped to a 15-month low against most of its major currency pairs yesterday, as generally upbeat U.S. economic data and gains in… - November 21, 2009 — Currency News – Thursday, 19 November 2009 (0)
Economic News USD – Dollar Retreats after 3 Week’s Rally The U.S dollar advanced against the EUR Thursday on speculation U.S. investors are bringing back overseas funds toward year-end and… - November 21, 2009 — Currency News – Thursday, 12 November 2009 (0)
Economic News USD – Unemployment Claims Report on Tap – Will USD Weakness Continue? The Dollar hit a 15-month low against major currencies on Wednesday on the view that U.S. Interest Rates… - December 20, 2009 — Currency News – Monday, 14 December 2009 (0)
Economic News USD – Dollar Continues to Strengthen The Dollar continued to rise on all fronts last week. The Dollar climbed about 300 pips against the Euro, as the EUR/USD pair dropped below the… - November 29, 2009 — Currency News – Friday, 27 November 2009 (0)
Economic News USD – Dollar Rebounds From 14-year Low vs. Yen The U.S. Dollar rebounded versus most major rivals Thursday, benefiting from safe-haven flows amid fears of a potential sovereign … - November 26, 2009 — Currency News – Monday, 23 November 2009 (0)
Economic News USD – Is the Dollar Recovering? The Dollar corrected some of its losses against the Euro and the Pound during last week’s trading session. The Dollar gained about 200 pips a… - November 21, 2009 — Currency News – Wednesday, 18 November 2009 (0)
Economic News USD – Bernanke Statements Diminish USD in Short-Term; Strength Ahead? Following the USD’s minor slide in yesterday’s trading, it appears the greenback has started to re… - December 20, 2009 — Currency News – Thursday, 17 December 2009 (0)
Economic News USD – Dollar Makes Big Gains Following FED Statement The USD got another boost Wednesday evening after the Federal Reserve Bank (FED) issued a statement saying that there are defin… - December 20, 2009 — Currency News – Friday, 18 December 2009 (0)
Economic News USD – Dollar Climbs to Three Month High Versus the EUR The Dollar once again made large gains against a basket of currencies during Thursday’s trading, climbing to a new thre… - December 20, 2009 — Currency News – Thursday, 10 December 2009 (0)
Economic News USD – Dollar Slides Amid Increased Investor Risk Taking Following an upbeat trading day Wednesday on the U.S. stock market, the Dollar slid against its major counterparts for the f… - December 20, 2009 — Currency News – Friday, 11 December 2009 (0)
Economic News USD – USD Mixed Against Major Currencies The Dollar experienced a mixed trading day yesterday, advancing on the Yen but staying little changed against the EUR and U.K. pound. The d… - November 26, 2009 — Currency News – Tuesday, 24 November 2009 (0)
Economic News USD – USD Falls Amid Gains In The Stock Market Following Monday’s announcement that existing U.S. home sales in November were better then forecasted, Wall Street had an impre… - November 26, 2009 — Currency News – Wednesday, 25 November 2009 (0)
Economic News USD – Dollar Sentiment Pressured by Fed Comments The USD held on to modest gains Tuesday as equities and commodities declined. However, pressure on Dollar sentiment came following … - November 21, 2009 — Currency News – Friday, 13 November 2009 (0)
Economic News USD – Dollar Rises on Geithner Comments The Dollar broke its recent trend yesterday, as the greenback strengthened against the EUR. Calls by Pacific nations for the Dollar to appre… - November 21, 2009 — Currency News – Monday, 16 November 2009 (0)
Economic News USD – Dollar Continues to Weaken Following Disappointing Data The Dollar continued to weaken during last week’s trading session. The Dollar extends its slow yet steady slide … - December 20, 2009 — Currency News – Tuesday, 15 December 2009 (0)
Economic News USD – Dollar Falls on Dubai Bailout The dollar slipped slightly against most of its major counterparts on Monday after Dubai’s announcement it had received help from Abu Dhab… - December 12, 2009 — Dollar Gains As The Markets Become Cautious (0)
By Mercaforex USD: With little in the way of economic data from the U.S. on Tuesday, the USD continued to get stronger against both the EUR and GBP. The greenback continued to get stronger as Wall… - December 25, 2009 — Currency News – Thursday, 24 December 2009 (0)
Economic News USD – Dollar Take Losses Following Home Sales Report According to a new report released yesterday, new home sales in the U.S. have fallen to a 7-month low. Despite the numerous po… - November 21, 2009 — Currency News – Tuesday, 17 November 2009 (0)
Economic News USD – Dollar Tumbles on All Fronts The U.S. Dollar fell against all of its major currency pairs yesterday. This was in response to traders dropping the USD, as stocks climbed after… - November 26, 2009 — Market News (0)
Daily Market Commentary for November 25, 2009 Market News Stocks were rising this morning after market news and a better than expected report on weekly jobless claims. (Read more at Millennium-T… - November 15, 2009 — Wal-Mart (0)
Daily Market Commentary for November 12, 2009 Wal-Mart Retail giant Wal-Mart reported its earnings for the third-quarter rose by over 3%, however the company issued disappointing forecasts for … - December 23, 2009 — Currency News – Wednesday, 23 December 2009 (0)
Economic News USD – Dollar Moves Higher on Positive Economic Data Yesterday’s trading had the dollar climbing higher against a basket of currencies after data released from the States sug… - December 23, 2009 — Currency News – Monday, 21 December 2009 (0)
Economic News USD – Dollar’s Rally Continues The Dollar continued its rally last week. The Dollar strengthened against all the major currencies during last week’s session. The EUR/U… - December 20, 2009 — Earnings (0)
Daily Market Commentary for December 18, 2009 Earnings Earnings reports from technology companies sparked trader’s attention, sending stocks soaring. (Read more at Millennium-Traders.Com) Eco… - December 12, 2009 — Foreclosures (0)
Daily Market Commentary for December 10, 2009 Foreclosures Foreclosures were on the fall again this month, making it the fourth straight monthly decline. (Read more at Millennium-Traders.Com) … - December 12, 2009 — Retail Sales Trend (0)
Daily Market Commentary for December 11, 2009 Retail Sales Trend Retail sales trends have been better than expected for two straight months, leading analysts to believe sales will be up in Decem… - December 6, 2009 — Job Market (0)
Daily Market Commentary for December 4, 2009 Job Market Investors finally got the news they were looking for this morning when the Labor Department released it’s highly anticipated report on the… - November 24, 2009 — Gold Prices Today (0)
Daily Market Commentary for November 23, 2009 Gold Prices Today Gold prices today hit yet another new record high; analysts don’t expect to see it stop anytime soon. (Read more at Millennium-Tra… - November 21, 2009 — Bear Market (0)
Daily Market Commentary for November 20, 2009 Bear Market Stocks opened lower today extending the two-day bear market; investors focused their attention towards the technology sector, they showe… - November 15, 2009 — Trade Deficit (0)
Daily Market Commentary for November 13, 2009 Trade Deficit Stocks rose slightly today as the Commerce department reported a larger-than-expected increase in the trade deficit, topping analysts… - November 24, 2009 — Daily Review 24/11/2009 (0)
USD Dollar (USD) The rally in Europe and Wall Street put pressure on the Dollar that fell across the board and rose only against the Yen. The existing home sales data that came at 6.1M, better th… - November 21, 2009 — The Most Traded Forex pairs (0)
As you know, the Forex currency market is based on the buying and selling of currencies of certain countries. It is based on the exchange rate; This means the purchase of one currency in exchange for… - December 23, 2009 — Currency News – Tuesday, 22 December 2009 (0)
Economic News USD – Dollar Continue to Strengthen Against Rivals The Dollar was up again most major rivals Monday on expectations of continuing improvement in the U.S economy ahead of this week… - November 21, 2009 — Top 10 Favorites on DailyFX.com (0)
DailyFX.com (www.dailyfx.com) FXCM’s free news Web site, had a complete site overhaul and the new fresh, easier to navigate layout was launched last week. DailyFX is constantly expanding and improving… - December 25, 2009 — U.S. Personal Spending (0)
Daily Market Commentary for December 23, 2009 U.S. Personal Spending U.S. personal spending rose in November at the fastest growing pace in six months. (Read more at Millennium-Traders.Com) E… - December 12, 2009 — Daily Review 11/12/2009 (0)
USD Dollar (USD) The Dollar traded with a narrow range versus most majors as mixed data was released in the US. The initial Jobless claims rose by 17K coming at 474K but the trade balance deficit… - December 2, 2009 — The Dubai ‘Spill’ Alters Landscape (0)
By Mercaforex USD: Dubai’s sudden and rather amazing entry into the mix of bad economic news on Friday shook the broad marketplaces to its core on Friday, including the USD. Currency markets becam…
Currency News – Friday, 18 December 2009 December 20th, 2009
Economic News
USD – Dollar Climbs to Three Month High Versus the EUR
The Dollar once again made large gains against a basket of currencies during Thursday’s trading, climbing to a new three month high. Fueling the appreciation of the dollar were fears of Greece defaulting on their sovereign debt as traders looked to avoid the euro. Analysts are also forecasting just when the Fed will initiate its tightening of U.S. monetary policy.
Today the dollar rose by more than 0.9% versus the euro to close at 1.4389, up from an opening price of 1.4522. Driving the change in the exchange rate was the downgrade of Greek sovereign debt by the rating agency, S&P. The firm also warned of potential future downgrades unless major changes to the fiscal status of the nation are undertaken. The downgrade of Greece is weighing on the EUR as traders are now looking at the U.S. economy in a better light relative to the European economy. This is also causing traders to reexamine the potential of the Federal Reserve to increase interest rates. No change was made at the conclusion of the FOMC meeting on Wednesday; however, with the rally of the U.S. dollar, the Fed may reevaluate its decision at it next meeting.
Friday’s trading will be highlighted with a glut of news events and economic data releases from the Euro-zone. The prime market mover will be the German Ifo Business Climate. The survey from manufactures, builders, and retailers is highly respected and shows a high correlation with the German economy. The indicator is s scheduled to be released at 4:00am GMT. The trend of the strengthening dollar may continue into today’s trading day with the EUR/USD seeing a significant support level at 1.4270.
EUR – Greek Sovereign Debt Sinks the EUR
Traders and economists alike are taking a hard second look at the European economy after S&P downgraded the sovereign debt of Greece yesterday. This is causing a shift of opinion on which economy is recovering from the recent recession faster; the U.S. or Europe?
As the debate rages, currency traders are showing their true colors. Some feel the EUR’s run may have extended too far as the EUR/USD climbed to a height of 1.5143 in late November. Since then the pair has fallen and is now trading below the 1.4350 level. Causes of this have been an improvement in U.S. economic sentiment, a potential tightening of U.S. monetary policy and rising interest rates, and the view of overall weakness in the EU economy.
While the stronger economies of Germany and France seem to be pulling out of the economic recession due to large government stimulus packages and previous EUR weakness, the smaller, less fiscally responsible nations of Greece, Spain, and Austria may hold the Euro-zone economy back in its recovery when compared to U.S. One advantage the United States has over the European Union, when it comes to fiscal responsibility national cohesion with only one decision making body in the federal government.
JPY – Yen Rises Against Dollar Where Others Fail
Despite the dollar’s appreciation yesterday against most major currencies, the Yen showed significant strength as the USD/JPY dropped 0.7% and is now trading at 89.5656. In earlier trading, the pair failed to break the significant 89.00 support line.
Japanese officials worry that a strong Yen may have an adverse affect on the Japanese economy. Yesterday, comments were made from deputy Prime Minister Kan, noting he supports a weak yen. A weakening yen could be a blessing to Japan. A falling yen would make Japanese exports cheaper on the world markets, thereby boosting the economic recovery of the island nation and avoiding a second recession.
Crude Oil – Dollar Strength may be putting a Dent in Crude Prices
Crude oil prices were seen falling yesterday but were able to regroup and finish the day even as the dollar rose against the EUR. Prices fell to a low of $72.87 from $74.79 yesterday as the dollar rose against the EUR 0.9%. Crude prices have typically moved in the opposite direction of the dollar’s movement. While this proved to be a positive for crude oil prices during times of dollar weakening, the dollar’s recent bullish run could put a dent in crude oil’s price appreciation.
As economic sentiment improves in the U.S., crude traders may feel the pinch of a stronger dollar. This is natural as the price of crude oil is denominated in U.S. dollars. A rising dollar makes crude prices more expensive and less attractive. A rise in U.S. interest rates would also be a negative for crude oil. With these factors, we could see crude oil drop back down to a fair value of $70.
| EUR/USD | GBP/USD | USD/JPY | USD/CHF | AUD/USD | EUR/GBP | |
| Daily Trend | |
|
|
|
|
|
| Weekly Trend | |
|
|
|
|
|
| Resistance | 1.4460 | 1.6250 | 90.55 | 1.0500 | 0.8960 | 0.8970 |
| 1.4440 | 1.6230 | 90.35 | 1.0480 | 0.8940 | 0.8950 | |
| 1.4410 | 1.6200 | 90.05 | 1.0450 | 0.8910 | 0.8920 | |
| Support | 1.4350 | 1.6140 | 89.45 | 1.0390 | 0.8850 | 0.8860 |
| 1.4320 | 1.6110 | 89.15 | 1.0360 | 0.8820 | 0.8830 | |
| 1.4300 | 1.6090 | 88.95 | 1.0340 | 0.8800 | 0.8810 |
Technical News
EUR/USD
The price of this pair appears to be floating in the over-sold territory on the daily chart’s RSI indicating an upward correction may be imminent. The upward direction on the hourly chart’s Momentum oscillator also supports this notion. When the upwards breach occurs, going long with tight stops appears to be preferable strategy.
GBP/USD
The 4-hour chart is showing mixed signals with its RSI fluctuating at the neutral territory. However, the daily Chart’s RSI is already floating in the oversold territory indicating that a bullish correction might take place in the nearest future. Going long with tight stops might be the right strategy today.
USD/JPY
The pair has been range-trading for a while now, with no specific direction. The Daily chart’s Slow Stochastic providing us with mixed signals. All oscillators on the 4 hour chart do not provide a clear direction as well. Waiting for a clearer sign on the hourlies might be a good strategy today.
USD/CHF
The pair has recorded much bullish behavior in the past several days. However, the technical data indicates that this trend may reverse anytime soon. For example, the daily chart’s Stochastic Slow signals that a bearish reversal is imminent. . Going short with tight stops might be a wise choice.
The Wild Card
Gold
Gold prices are once again dropping, and it is currently traded around $1105.40 per ounce. And now, the daily chart’s RSI is giving bullish signals, indicating that gold prices might go up. This might give forex traders a great opportunity to enter a very popular trend.
// Popularity: 4% [?]
forx news
- November 21, 2009 — Currency News – Friday, 20 November 2009 (0)
Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR and other higher yielding currencies on Thursday following the release of weak U.S. economic data and … - December 20, 2009 — Currency News – Wednesday, 16 December 2009 (0)
Economic News USD – Dollar Trades Higher vs. EUR on Rate Outlook The U.S dollar held near a 2-? month high on the EUR and kept a firmer footing against the Japanese yen on Wednesday as the marke… - December 20, 2009 — Currency News – Friday, 11 December 2009 (0)
Economic News USD – USD Mixed Against Major Currencies The Dollar experienced a mixed trading day yesterday, advancing on the Yen but staying little changed against the EUR and U.K. pound. The d… - November 29, 2009 — Currency News – Friday, 27 November 2009 (0)
Economic News USD – Dollar Rebounds From 14-year Low vs. Yen The U.S. Dollar rebounded versus most major rivals Thursday, benefiting from safe-haven flows amid fears of a potential sovereign … - November 26, 2009 — Currency News – Thursday, 26 November 2009 (0)
Economic News USD – Dollar Falls to a 15 Month Low The dollar dropped to a 15-month low against most of its major currency pairs yesterday, as generally upbeat U.S. economic data and gains in… - November 26, 2009 — Currency News – Wednesday, 25 November 2009 (0)
Economic News USD – Dollar Sentiment Pressured by Fed Comments The USD held on to modest gains Tuesday as equities and commodities declined. However, pressure on Dollar sentiment came following … - November 21, 2009 — Currency News – Wednesday, 11 November 2009 (0)
Economic News USD – Dollar Recovers modestly off 15-mth Lows The U.S Dollar edged up on Tuesday, reversing some of its recent losses but staying close to a 15-month low against a currency basket… - December 20, 2009 — Currency News – Thursday, 17 December 2009 (0)
Economic News USD – Dollar Makes Big Gains Following FED Statement The USD got another boost Wednesday evening after the Federal Reserve Bank (FED) issued a statement saying that there are defin… - November 26, 2009 — Currency News – Tuesday, 24 November 2009 (0)
Economic News USD – USD Falls Amid Gains In The Stock Market Following Monday’s announcement that existing U.S. home sales in November were better then forecasted, Wall Street had an impre… - November 26, 2009 — Currency News – Monday, 23 November 2009 (0)
Economic News USD – Is the Dollar Recovering? The Dollar corrected some of its losses against the Euro and the Pound during last week’s trading session. The Dollar gained about 200 pips a… - November 21, 2009 — Currency News – Thursday, 19 November 2009 (0)
Economic News USD – Dollar Retreats after 3 Week’s Rally The U.S dollar advanced against the EUR Thursday on speculation U.S. investors are bringing back overseas funds toward year-end and… - November 21, 2009 — Currency News – Wednesday, 18 November 2009 (0)
Economic News USD – Bernanke Statements Diminish USD in Short-Term; Strength Ahead? Following the USD’s minor slide in yesterday’s trading, it appears the greenback has started to re… - November 21, 2009 — Currency News – Friday, 13 November 2009 (0)
Economic News USD – Dollar Rises on Geithner Comments The Dollar broke its recent trend yesterday, as the greenback strengthened against the EUR. Calls by Pacific nations for the Dollar to appre… - November 21, 2009 — Currency News – Thursday, 12 November 2009 (0)
Economic News USD – Unemployment Claims Report on Tap – Will USD Weakness Continue? The Dollar hit a 15-month low against major currencies on Wednesday on the view that U.S. Interest Rates… - November 21, 2009 — Currency News – Tuesday, 10 November 2009 (0)
Economic News USD – Dollar Falls on Higher Risk Appetite The Dollar fell dramatically on Monday against a basket of currencies on higher risk appetite. This included slipping to a 3-month low vs… - December 20, 2009 — Currency News – Monday, 14 December 2009 (0)
Economic News USD – Dollar Continues to Strengthen The Dollar continued to rise on all fronts last week. The Dollar climbed about 300 pips against the Euro, as the EUR/USD pair dropped below the… - December 20, 2009 — Currency News – Thursday, 10 December 2009 (0)
Economic News USD – Dollar Slides Amid Increased Investor Risk Taking Following an upbeat trading day Wednesday on the U.S. stock market, the Dollar slid against its major counterparts for the f… - December 20, 2009 — Currency News – Tuesday, 15 December 2009 (0)
Economic News USD – Dollar Falls on Dubai Bailout The dollar slipped slightly against most of its major counterparts on Monday after Dubai’s announcement it had received help from Abu Dhab… - December 25, 2009 — Currency News – Thursday, 24 December 2009 (0)
Economic News USD – Dollar Take Losses Following Home Sales Report According to a new report released yesterday, new home sales in the U.S. have fallen to a 7-month low. Despite the numerous po… - December 23, 2009 — Currency News – Wednesday, 23 December 2009 (0)
Economic News USD – Dollar Moves Higher on Positive Economic Data Yesterday’s trading had the dollar climbing higher against a basket of currencies after data released from the States sug… - December 12, 2009 — Dollar Gains As The Markets Become Cautious (0)
By Mercaforex USD: With little in the way of economic data from the U.S. on Tuesday, the USD continued to get stronger against both the EUR and GBP. The greenback continued to get stronger as Wall… - November 21, 2009 — Currency News – Tuesday, 17 November 2009 (0)
Economic News USD – Dollar Tumbles on All Fronts The U.S. Dollar fell against all of its major currency pairs yesterday. This was in response to traders dropping the USD, as stocks climbed after… - November 21, 2009 — Currency News – Monday, 16 November 2009 (0)
Economic News USD – Dollar Continues to Weaken Following Disappointing Data The Dollar continued to weaken during last week’s trading session. The Dollar extends its slow yet steady slide … - December 23, 2009 — Currency News – Monday, 21 December 2009 (0)
Economic News USD – Dollar’s Rally Continues The Dollar continued its rally last week. The Dollar strengthened against all the major currencies during last week’s session. The EUR/U… - December 23, 2009 — Currency News – Tuesday, 22 December 2009 (0)
Economic News USD – Dollar Continue to Strengthen Against Rivals The Dollar was up again most major rivals Monday on expectations of continuing improvement in the U.S economy ahead of this week… - November 21, 2009 — The Most Traded Forex pairs (0)
As you know, the Forex currency market is based on the buying and selling of currencies of certain countries. It is based on the exchange rate; This means the purchase of one currency in exchange for… - November 26, 2009 — Market News (0)
Daily Market Commentary for November 25, 2009 Market News Stocks were rising this morning after market news and a better than expected report on weekly jobless claims. (Read more at Millennium-T… - November 24, 2009 — USD Volcano Erupted On Friday (0)
By Mercaforex Analysis is subjective at best and there is no scientific absolute one can bring forth through quantitative mathematical formulas to show why markets moved in any particular fashion. … - November 15, 2009 — Wal-Mart (0)
Daily Market Commentary for November 12, 2009 Wal-Mart Retail giant Wal-Mart reported its earnings for the third-quarter rose by over 3%, however the company issued disappointing forecasts for … - November 15, 2009 — Reading a Forex Quote (0)
Total newbies to the foreign exchange market can find reading a Forex quite intimidating (even baffling) at first. In fact, this is the most common initial hurdle. The quote is brief, but it packs in … - December 20, 2009 — Earnings (0)
Daily Market Commentary for December 18, 2009 Earnings Earnings reports from technology companies sparked trader’s attention, sending stocks soaring. (Read more at Millennium-Traders.Com) Eco… - December 12, 2009 — Foreclosures (0)
Daily Market Commentary for December 10, 2009 Foreclosures Foreclosures were on the fall again this month, making it the fourth straight monthly decline. (Read more at Millennium-Traders.Com) … - December 12, 2009 — Retail Sales Trend (0)
Daily Market Commentary for December 11, 2009 Retail Sales Trend Retail sales trends have been better than expected for two straight months, leading analysts to believe sales will be up in Decem… - December 6, 2009 — Job Market (0)
Daily Market Commentary for December 4, 2009 Job Market Investors finally got the news they were looking for this morning when the Labor Department released it’s highly anticipated report on the… - November 24, 2009 — Gold Prices Today (0)
Daily Market Commentary for November 23, 2009 Gold Prices Today Gold prices today hit yet another new record high; analysts don’t expect to see it stop anytime soon. (Read more at Millennium-Tra… - November 22, 2009 — Joblessness Hampers Recovery Hope (0)
By Mercaforex USD: The life of the USD was given another breath of oxygen on Wednesday as the U.S. stock indexes went south. After three days of gains from Wall Street, share values dropped yester… - November 21, 2009 — Top 10 Favorites on DailyFX.com (0)
DailyFX.com (www.dailyfx.com) FXCM’s free news Web site, had a complete site overhaul and the new fresh, easier to navigate layout was launched last week. DailyFX is constantly expanding and improving… - November 21, 2009 — Bear Market (0)
Daily Market Commentary for November 20, 2009 Bear Market Stocks opened lower today extending the two-day bear market; investors focused their attention towards the technology sector, they showe… - November 15, 2009 — Trade Deficit (0)
Daily Market Commentary for November 13, 2009 Trade Deficit Stocks rose slightly today as the Commerce department reported a larger-than-expected increase in the trade deficit, topping analysts… - December 6, 2009 — United World Capital – uwcfx.com (0)
http://www.uwcfx.com United World Capital Limited Ioanni Prodromou 31, Yioupis Tower 3rd Floor, Mesa Geitonia Postal Code: 4002 – Limassol, Cyprus Why Choose UWC Our clients demand best prac…
Answers to the most commonly emailed questions December 20th, 2009
SPAM will not be tolerated
I’m putting this first. Banned spammers keep writing in claiming that they didn’t think there were any rules against spamming.
I like it when people use the forums, but please try to follow the rules. I don’t care if you have a forex product that will make me a trillion dollars overnight, DO NOT SPAM ABOUT IT! The forums have an area called the Commerce Zone. It has places where you can post ads for free, like the FPA’s Classified Ads Section. If you decided to post your ads elsewhere in the forums without special advanced permission from me or one of the other admins, your account will be banned. If you spam with your ClickBank affiliate ID, I’ll report that too. I’ve had about 5 of those shut down in the last few months.
Spend a little time looking around the forums. There are special folders for many different purposes. As long as you aren’t spamming, I don’t mind a few items out of place.
If you have something you want to post that’s borderline, then use the “Contact Us” link at the bottom of the page to ask first.
Password and Signup Issues
If you just signed up, you probably don’t have the password to the Daily Trading Signals yet. Be patient. Signals are sent out the day before news events. If you sign up on Thursday afternoon you probably won’t get your first Signals mailing until Sunday. The password is always in the Signals mailing.
That leads me to the next common item. The signals password is usually a 4 digit number. It is NOT your forum account password and your forum account password is NOT the key to the signals folder. Your forum account password lets you post in the forums, view attachments, and do other things inside the forums. The signals password just lets you get into the current signals folder. If you want to post a reply to something in that folder, you need both passwords.
Both passwords require cookies to be accepted to work. Some users report that they can’t access with Internet Explorer, but can get in using FireFox. Some report the opposite. So far, no one here has heard any complaints about Opera or Google Chrome, yet.
Another common problem. You’ve been on the mailing list for a long time, have forgotten your forum password and get an “email address not recognized error” when you ask to have your password reset. Either you changed your email address or you never had a forum account. If you remember your old email address, use that. If not, or if you’ve never had a forum account, just use the “Join Now” link again. If you are on the mailing list, it will take you to the forum signup page.
Hey dude, where’s my review?
Be patient. The review moderation queue can get backed up. Every time you post a review, there’s a note about reviews taking from 3-5 business days to be processed. The time spent answering this question over and over again every day from people who left reviews less than 48 hours before adds at least 1 day to the moderation process.
Please don’t lie about your location. You don’t have to give your city, but if you lie about what country you are in, your review will probably be deleted. The bulk of reviews with fake countries are fake reviews. There’s an idiot in Latvia who spent more than 6 months leaving hundreds of reviews claiming to be from all over the world. He thought he could rearrange the top rated brokers. He failed. The FPA’s reviews don’t require you to give your real name, so your privacy is protected. If you are in a country with fewer people, you can give your region instead if you really are worried about your broker coming to get you for trashing them in the reviews.
Is your review really a review? “I need contact info for the company or a reviewer.” Or “Hello person who left a review long ago, how’s it going?” aren’t reviews. People go to the reviews to read about experiences dealing with companies. If you want to argue about best settings or chat with other users, all but the most recently listed companies have a discussion thread linked to the review page. “Has anyone used this product?” is only appropriate if you are submitting a new site. It won’t make users come to the review page and share their experiences.
If you do write in about a review, please say what company you reviewed and what name you used. Without that information, there’s no way to check.
Please see some of the other threads in this folder for more advice about good vs. bad reviews.
Tech Support for the Universe
All performance tests hosted by the FPA use default settings unless otherwise noted.. Any version upgrades beyond the basic package that was purchased/donated to us are noted on the Performance Test Page. If you buy something and then it offers you the “Special Version” for more money, the FPA test is on the basic version unless noted.
Your results with an EA may be different. This can be because you have different settings, have a different broker, or are on a different server at the same broker. Most Performance Tests are on demo accounts. That’s different than live. Your internet connection speed can make a difference. No one here knows any secret settings.
For seller hosted tests, the FPA has no access to any information beyond what the company tells the Performance Testers. All known info is put on the performance test page. For any question not answered on the performance test page, contact the seller.
People email and ask if the FPA takes credit card deposits. People ask how much for the software. The FPA isn’t a broker and doesn’t have anything for sale. I think they are using the “Contact Us” link at the bottom of review pages. That link always goes to the main FPA email, not to the company being reviewed.
What (fill in the blank) is best?
About once a year, Felix might say that he thinks a product is cool or interesting. Other than that, the FPA does not endorse brokers or products.
There are two reasons for this. The first is that not every product or broker will meet everyone’s needs. Pharaoh wrote a couple of articles that should help you find things that are best for you. You can read those here…
http://www.forexpeacearmy.com/forex-…ex-broker.html
http://www.forexpeacearmy.com/forex-…-products.html
The second reason is that good companies can go bad. I’ve seen trading rooms go from dozens of 5 star reviews to dozens of 1 star reviews. I’ve seen profitable signals services do the same. I’ve seen EAs that did pretty well for awhile fail as marker conditions changed. I’ve seen well rated brokerages liquidated because of accounting irregularities. You need to be on guard against getting scammed, even by companies that you’ve dealt with for years.
No one who answers the email at FPA HQ is going to recommend a broker or a forex product for you. You need to do your own research and be ready to switch brokers or products of one stops working as expected. The FPA is a great resource for research.
Can you tell me about (fill in the blank)?
Before asking this, go to the FPA homepage. There’s a Google Custom Search there. Once you run the search, you can chose if you want only forum or only review links. That’s the fastest way to search through all the companies the FPA has any info on.
If it’s not the FPA’s reviews, the chances are that no one at FPA HQ has info on it. There’s a Has anyone heard of? folder in the Commerce Zone of the forums where you can ask all of the FPA’s members about it.
This company scammed me. Declare them to be a scam.
The FPA has a procedure for this. First, you need to leave a review and to start a new thread about the company in the Scam Alerts Folder. Unless you have a very good reason for keeping it secret, you need to do this before anything else. If you have a good reason, put it at the beginning of your message.
Some people write in saying that they know a company is a scam or is another company owned by people who are already listed as scammers. If you have proof, please give it. The FPA can’t call a company a scam based on a rumor.
One guy wanted a company declared a scam only because the product was expensive. He’d never tried the product. There are some products with consistent 5 star ratings over time that cost over $5000. There are products that cost under $100 with 1 star ratings. People should be careful with money, but the price tag alone doesn’t tell you if a product is a scam.
Signals and News Trading Questions
The new format has an after spike strategy linked to almost every news event. There’s also a general set of instructions for newstrading if you click here.
The FPA has one of the fastest calendars on the web here. At this time, you have to hit the refresh button manually. The programmers are looking at several options to improve this. When any upgrades happen, there will be an announcement and it will be mentioned in the forex trading signals also.
If you really want to spike trade, you’ll need a broker that permits it and a commercial service to get the news faster.
Other useful resources
These will answer a lot of your questions.
The folder this message is in. I’ve got everything you need to know about how to write a good review here. I’m hoping to add some more articles soon.
Pharaoh’s Education Articles. He’s written a lot of stuff, but his education articles are all gathered in one place.
The FPA Glossary. This isn’t another recycled glossary that talks about the Euro as being a future currency in Europe. These definitions were written by forex traders, for forex traders.
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