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Forex News by 2 Oct 2011: Pound reversal from 1.6165
Saturday, February 4th, 2012By FXNews.com: Pound reversal from 1.6165 high on Monday at 1.5890 is contained, and the pair bounced on Asian session, to consolidate around the 1.6000 psychological level in early U.S. session, ahead of the FOMC statement.
Moving upside remains limited below 1.4035/50 (highest day). Up here, the couple may find resistance at 1.6090 (November 1, high) and 1.6145/65 (200 day MA / October 31 high). On the downside, support levels lie at 1.5965/70 (intra-day level), and below here, 1.5890 (24 / 26 October low), 1.5750 (October 21 low).
In a wider perspective, however, the couple remains vulnerable to further decline as between 1.5890 and 1.6167, says Bijoy Kar, forex technical analyst at MIG Bank: “GBP / USD has received initial support at 1.5890 after attack the weakness seen from the 200-day moving average. While contained within the lower range of 1.5890 to 1.6167 swing remained viable, towards our target zone near 1.5840, whichever is lower the higher is preferred to form. “
5 Reasons Why Marketiva is ROCKS
Saturday, February 4th, 2012No Doubt a lot of peoples specially newbies traders, they love with Marketiva. So many reasons the like it. Some of best 5 can be
1. Simple streamer interface
2. $5 bonus each create new account.
3. Nice assistance / customer support, some use local country assistance / specialist / customer support to guide them.
4. Payment or Deposit in many ways start from Wire Transfer, Ebullion, Webmoney, Liberty Reserve, and Edinar. But it recommended you to use liberty reserve.
5. Free contract size and very flexible.
So, why you worry trade forex at Marketiva ..?
The Future of Marketiva in 2009
Friday, February 3rd, 2012Well, Marketiva has been established at least 3-4 years ago, many have changed with this virtual online forex trading. Specially the Streamer, it has been changed and updated to the new version many times, since it use by marketiva trader. Take a look the Streamer UI (user interface), much better and easy to use. The tab channel now more glossy than before, for noobs or newbie trader they must be have not difficulties use it
Talk the future of Marketiva, in 2009 Marketiva still give free bonus $5 for new user registered, you also can use the marketiva coupon to registered and make some deposit amount. I just predict, Marketiva will be survive on the global financial crisis storm this years, as long their capital not deposited on United State banks.
We all hope the marketiva online forex trading should be exist without make scam to their members.
China setting up new forex agency
Thursday, February 2nd, 2012China will establish an agency modeled on Singapore’s Temasek Holdings Pte to manage part of its US$1 trillion-plus in foreign-currency reserves.
“The government has decided to separate the ownership of the reserves and the management of the reserves into two agencies,” Finance Minister Jin Renqing said yesterday. Read the rest of this entry »
Nation to explore, expand use of forex reserves
Tuesday, January 31st, 2012Chinese Premier Wen Jiabao said that China would steadily push forward the foreign exchange rates reform and actively explore and expand the use of its US$1.06-trillion foreign exchange reserves.China would strengthen operation and management of foreign exchange reserves and facilitate the balance of international payment, said Wen at the two-day Third National Financial Work Conference.
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When to Stop Trading
Thursday, January 26th, 2012This article written by Brett N. Steenbarger  Â
Much of the advice given to traders concerns either what to buy or sell or when to buy or sell. This makes sense, as it is doubtful that brokerage houses and advisory services could make much of a living by telling traders not to trade. My experience with professional traders, however, suggests to me that they frequently wrestle with the question of when to stop trading. This question typically emerges in two contexts:
1. The volatility in the market is low - Does it make sense to be in the market? Is there sufficient opportunity?
2. I’m not trading well - Does it make sense for me to continue trading? Do I need to take a break?
In the first installment of this three article series, I will tackle the issue of low volatility; the second in the series will cover challenges related to trader psychology, and the third will suggest ways for traders to benefit from their times away from trading.
Read the rest of this entry »
Currency Summary 21 AUGUST 2006
Wednesday, January 25th, 2012- U.S. Dollar Trading (USD) was mixed against the majors in the overnight forex trading session as US consumer sentiment disappointed. The sentiment index fell from 84.7 to 78.7 in August below expectations of a modest fall to 83.6. In other markets, the Dow Jones index rose by 46pts while the NASDAQ gained 6pts capping the best week in 3 years for the NASDAQ. Crude oil rose as focus was again on Iran and their nuclear ambitions, with the UN deadline nearing before sanctions are imposed. Crude oil finished up USD$1.03 to USD$71.09 a barrel. Looking ahead, Redbook store sales and the Richmond Fed Survey are due out tomorrow.
- The Euro (EUR) traded within a low of 1.2780 and a high of 1.2845, before closing at 1.2820 in the New York session.
- The Japanese Yen (JPY) traded within a low of 115.45 and a high of 116.00 versus the dollar, before closing at 115.80 in the New York session.
- The Sterling (GBP) traded within a low of 1.8780 and a high of 1.8860, before closing at 1.8820 in the New York session.
EUR/USD opens Asia quiet after Belgium downgrade
Wednesday, January 25th, 2012Forex: EUR/USD opens Asia quiet after Belgium downgrade
FXstreet.com (California) - The European single currency ended the week to past Friday with losses across the board; EUR/USD managed to close New York at 1.3035, posting the lowest weekly close since January.
At the weekly open, EUR/USD is hovering around 1.3040 in early Asia after news late Friday that Moody’s downgraded Belgium two notches., but the pair only trades with a slight bid tone after Reuters reported that the German Finance Minister Schaeuble said Germany was considering paying their full contribution in 2012. The deadline for EU countries to come to an agreement about how much they can lend to the IMS was set for today.
Last quoted in the 1.3035 area, there is immediate resistance at 1.3050 and, above there, 1.3083 (Friday’s high) and 1.3140 (4 Oct low). To the downside, support lies at 1.3015, 1.2990 and 1.2958.
FOREX: Ringgit Close Higher Against Greenback
Tuesday, January 24th, 2012KUALA LUMPUR, Aug 10 (Bernama) — The ringgit ended higher against the U.S. dollar Thursday supported by active buying on the local unit, dealers said.
At 5 pm, the local currency was traded at 3.6590/6620 against the U.S. dollar compared with 3.6610/6660 Wednesday.
Read the rest of this entry »
Trends Terms:
ForeX Trading for Maximum Profit
Monday, January 23rd, 2012Read the rest of this entry »
Who said ” you can’t teach an old dog a new trick? ” I have read many many books over the years on markets of various types. Though I have not traded the 24 hours Forex market, I have traded the currency markets as well as the futures, stocks and options. I have been student of all kinds of systems, Fibonacci and Elliot Wave, Gann - have used dozens of indicators, yet I am always looking for something more to learn. I figure that if I can learn just a bit more I may become a better trader.
Trends Terms:
Dec 16 2001 : Forex - EUR/USD up in Asian trade
Monday, January 23rd, 2012Forexpros - The Euro was higher against the U.S. Dollar on Friday.
EUR/USD was trading at 1.3039, up 0.18% at time of writing.
The pair was likely to find support at 1.2947, Wednesday’s low, and resistance at 1.3377, Monday’s high.
Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.06% to hit 0.8395 and EUR/JPY rising 0.17% to hit 101.51.
FX Trading Market Hours
Sunday, January 22nd, 2012
The spot FX market is unique to any other market in the world, as trading is available 24-hours a day. Somewhere around the world, a financial center is open for business, and banks and other institutions exchange currencies, every hour of the day and night with generally only minor gaps on the weekend. Essentially foreign exchange markets follow the sun around the world, giving traders the flexibility of determining their trading day.
EUR/USD News: Trading the German ZEW Economic Sentiment Index
Friday, January 20th, 2012The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts regarding their views on the outlook for the German economy. A reading that is higher than the market forecast is bullish for the Euro.
Here are all the details, and 5 possible outcomes for EUR/USD.
Published on Tuesday at 10:00 GMT.
Indicator Background
The German ZEW Economic Sentiment surveys financial experts for their assessment of the direction of economy in the next six months, based on economic data including inflation, exchange rates and the stock market. This makes the index an important indicator of the medium-term future of the German economy.
The indicator has been on a steady downward trend since February 2011, marking sixteen consecutive months of lower readings. Last month, the indicator hit an alarming -55.2, and there seems to be no end in sight to this gloomy picture. The markets are predicting a further drop for December, albeit very slight, to -55.7.
Sentiments and levels
Europeans leaders seem unable or unwilling to implement badly need measures to resolve the eurozone debt crisis, which, of course, will not simply disappear on its own. The Euro will continue to be affected by the crisis, and recent interest cuts by the ECB makes the Euro less attractive against other currencies.
Technical levels, from top to bottom: 1.3650, 1.3550, 1.3480, 1.3420, 1.3380, 1.3280, 1.3212, 1.3145, and 1.3080.
5 Scenarios
1. Within expectations: -61 to -49: In such a case, the Euro is likely to rise within range, with a small chance of breaking higher.
2. Above expectations: -48.9.9 to -44: An unexpected higher reading can send EUR/USD well above one resistance line.
3. Well above expectations: Above -44: This would indicate more confidence in the German economy. A second resistance line might be broken on such an outcome.
4. Below expectations: -66 to -61.1: A sharper decrease than forecast could push EUR/USD below one support level.
5. Well below expectations: Below -66: This scnenario is unlikely, due to relatively stable economic German indicators. In this scenario, the Euro will drop, and could break two or more support levels.
Source: forexcrunch.com
EUR/USD down at the end of U.S. session - Dec 7, 2011
Thursday, January 19th, 2012Forexpros - The Euro was lower against the U.S. Dollar on Tuesday.
EUR/USD was trading at 1.3399, down 0.02% at time of writing.
The pair was likely to find support at 1.3334, today’s low, and resistance at 1.3550, Friday’s high.
Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.30% to hit 0.8590 and EUR/JPY falling 0.13% to hit 104.16.
Forex Asian market open - Update Dec 7, 2011
Wednesday, January 18th, 2012Once again we open in Asia with EUR/USD at 1.3400. Looks like we will have another very quiet session with only Australian data to liven things up. Good luck today.
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