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Forex and Dow Jones recommended levels 2008-03-07 18:07:00 March 07, 2008GMT 06:20EUR/USDToday’s support: - 1.5345, 1.5312 and 1.5288(main), where correction is possible.Break would give 1.5273, where correction also may be. Then 1.5256. Break of the latter would result in 1.5231. If a strong impulse, we would see 1.5213. Continuation will give 1.5192.Today’s resistance: - 1.5427(main). Break would give 1.5444, where a correction is possible. Then 1.5466. Break of the latter would result in 1.5480. If a strong impulse, we’d see 1.5501. Continuation will give 1.5510.USD/JPYToday’s support: - 102.36 and 102.09(main). Break would bring 101.70, where correction is possible. Then 101.44. If a strong impulse, we would see 101.28. Continuation would give 101.03.Today’s resistance: - 103.05 and 103.54(main), where a correction may happen. Bre Read more:Forex
, levels
, Dow Jones
Learn How to Read a Chart & Act Effectively 2008-03-07 18:05:00 IntroductionThis is a guide that tells you, in simple understandable language, how to choose the right charts, read them correctly, and act effectively in the market from what you see on them. Probably most of you have taken a course or studied the use of charts in the past. This should add to that knowledge.RecommendationThere are several good charting packages available free. Netdania is what I use.Using charts effectivelyThe default number of periods on these charts is 300. This is a good starting point; * Hourly chart that's about 12 days of data. * 15 minute chart its 3 days of data. * 5-minute chart it's slightly more than 24 hours of data. You can create multiple "tabs" or "layouts" so that it?s easy to quickly switch between charts or sets of charts.What to look at first1. Read more:Chart
, Effectively
Your Guide to Learning a Forex Trading System 2008-03-07 18:02:00 There are a great number of people in America that are interested in investing in order to make a tidy profit. There are many ways to invest and many ways to make profits by investing. One method that has been gaining in popularity is that of the Forex
trading system. If you are unsure of what this is, let me explain. Forex stands for foreign exchange. A Forex trading system is defined as the simultaneous exchange of one countries currency for another countries currency. If you would like more information, please let this be your guide to learning a Forex trading system.The Forex trading system involves trading some of the world's most major currencies. These are: the dollar, yen, British pound, Swiss franc, and the Euro. The way the exchange rates of these types of currencies change is ba Read more:Guide
, Learning
, Trading
, System
, Forex Trading
, Forex Trading System
Choosing A Forex Broker 2008-03-07 18:01:00 With currency trading becoming ever more popular, the number of brokers is growing at a rapid rate. What should one look at when deciding which broker to open an account with? These are the important points to consider.SpreadBecause currencies, unlike futures and stocks, are not traded through a central exchange, the spread can be different depending on the broker you use, so it's well worth checking a few out before you open an account. Most forex brokers publish live or delayed prices on their websites so you can compare spreads, but check if the spread is fixed or variable. A fixed spread means exactly that — it will always be the same no matter what time of day or night it is. Some brokers use a variable spread, which might appear to be nice and small when the market is quiet, but wh Read more:Forex
, Broker
Forex Forecasts — You Never Know What You Will Benefit From 2008-03-07 18:00:00 Possible risks and profits to be made can always be predicted if traders would only have more accurate Forex
forecast to base their trade and decisions upon. Forex forecasts are only one way of keeping up with the volatile Forex market. Success will depend the most in knowing what and who will affect the rate changes.The Forex market has already been through a lot of ups and downs that even fortune tellers would have difficulty guessing what will be its next movement. Making a Forex forecast can be helpful but can also be too risky. Besides, doing it is not that easy also.In Forex forecasts, nothing specific is given. The traders are not made to hope high and expect more. If you have seen or heard a Forex forecast, be sure to check on some projected rate fluctuations whenever and wherever
EURUSD daily outlook - Friday 03/07/2008 2008-03-07 17:55:00 The Euro extended its gains on the current strong uptrend and fresh highs have been set at 1.5430 today. Intraday support is formed now by 1.5395 and 1.5370 followed by the retracement at 1.5345 then 1.5300 and 1.5275. Resistance starts at 1.5430 followed by 1.5475 and 1.55. The 1.55 area is the next objective as there are no signs of a top formed in the 1.54 area yet. A potential short-term retracement would most likely be limited by the support in the mid 1.53 area with more barriers emerging in the 1.5270 zone. The US NFP data which will be released today is anticipated to point towards recessionary conditions in the US economy and a negative figure will push the Euro higher towards the 1.55 and 1.56 zones. The upside remains highly favored right now and any dips are providing buying op Read more:Friday
Euro drops from record highs 2008-03-07 17:53:00 The dollar fell for a fourth day in a row as the European Central Bank will probably leave interest rates at 4% to tackle inflationThe Euro surged to a record high against the dollar as the market absorbed the interest rate differential. ``The yield story is negative for the dollar,'' said Tomoko Fujii, head of Japan economics and strategy at Bank of America Corp. in Tokyo, the second-largest U.S. bank. ``The U.S. interest-rate disadvantage over Europe is widening, and its advantage is diminishing over Japan.''The dollar fell for a fourth day in a row as the European Central Bank will probably leave interest rates at 4% to tackle inflation. The central bank will release its decision at 1:45GMT. Euro gains are threatening to dampen exports just as the U.S. slowdown dims the region's growth
Daily Forex Overview 2008-03-07 17:51:00 On Friday, the euro hit a new high against the dollar Thursday for the seventh session in eight after the European Central Bank kept interest rates steady and offered no hints that it may be planning rate cuts. Record-high oil prices - a barrel of crude rose above $105 Thursday - also kept overall pressure on the greenback as rising energy prices suggested more pains for the already weak U.S. economy.Comments from ECB President Jean-Claude Trichet triggered the dollar's losses Thursday. Trichet said he was confident the ECB's current monetary policy "will contribute" to reining in inflationary risks and supporting economic growth.The British pound fell to a record low against the Euro even though it climbed close to 1 percent against the US dollar. The divergent price action of the British Read more:Forex
, Daily
, Overview
A crazy day may await the markets 2008-03-07 17:50:00 The markets seem to be building up a lot of energy as we head into the final trading day of the week and the big US employment report. All signs are that the change in nonfarm payrolls number and unemployment rate will continue to show a deterioration in the US employment number. With negative expectations built into this number, considerable downside surprise may be needed to trigger volatility on the numbers. An upside surprise is hard to imagine, but would cause a short term spike as it is the least expected of outcomes. After yesterday's continued move to risk aversion and equity sell-off, the market is bidding up EuroDollar STIRs as the idea of the 75 bp cut, or yet another intrameeting cut from the Fed gains popularity. Meanwhile, Euribor dumped on Trichet's jaw-dropping hawkishness
No title 2008-03-07 17:43:00 THE PRICE OF PHYSICAL GOLD BULLION dipped once again early in London on Friday, after recovering yet another sharp fall sparked by a forced sale of stocks, bonds and mortgage-backed assets from heavily indebted fund managers.Tokyo's Nikkei index closed the day 3.2% lower – and European stocks dropped more than 1% at the open – after Carlyle Group, the private equity giant, warned this morning that further margin calls from brokers serving its $27.4 billion Capital Corp. may "quickly deplete its liquidity and impair its capital".Crude oil prices neared $106 per barrel as the US Dollar sank to fresh record lows on the currency markets.The Gold Price in Euros rose 1.1% from Thursday's five-session low.Yesterday in New York, Carlyle Capital Corp. was served with a default notice by its cre
Daily Analysis 2008-03-07 17:42:00 Today’s US Dollar Trading • USD takes another beating• Pending Home Sales better than expected• BOE and ECB hold rates steadyOvernight Preview• Traders expect a quiet evening ahead of US data FridayLooking Ahead• 7:30 AM CST Friday Non-Farm Payrolls forecast flatSummaryAt the risk of sounding like a broken record the USD is lower again today after firming slightly overnight Asia. Initially the Greenback held to ranges seen at the New York close but once stops were elected and exporters sold the rally in USD/JPY the USD began to fall yet again. Making a run for lifetime highs against EURO the USD fell through layers of support against CHF as well and set new lows in those pairs. Cable managed a stop-driven rally initially into the 2.0000 handle in early New York and eventually d Read more:Daily
, Analysis
Avantage Financial - Forex Daily Report 5th of Mar 2008-03-05 07:38:00 EuroTechnically bullish above former overhead resistance now support which comes in at 1.5094 today. More support at the former all time high of 1.4967 (break out level). How far this move will extend is difficult to estimate as we are basically in unchartered territory, so I remain bullish until a clear reversal pattern develops. Have short term rising support down at 1.5024 as well today.Support: 1.5094 (former overhead res), 1.4967(former high), 1.5024 (rising sup), 1.4750 (break out level), 1.4737 (rising support), 1.453, 1.4360, 1.4336 (key swing level) Resistance: 1.5274 (Monday’s high)240 min – Rising support at 1.5024 and 1.4813. CableBreaking below the rising support at 1.9823 overnight and thereby also halting the recent uptrend and opens for a pullback towards 1.9650 sup Read more:Forex
, Daily
, Financial
USD/JPY - Prices appear to be heading towards the middle Bollinger band 2008-03-05 07:34:00 Market strategy is to sell a failure to break 103.86RSI levels have been trending along the 30% line. MACD 12 & 26 have had a slightly bullish cross but since flattened out. Pricesappear
to be heading towards the middle
Bollinger band. Market strategy is to sell a failure to break 103.86.Finotec
Euro drops from record highs 2008-03-05 07:33:00 European finance officials said they are ``increasingly concerned'' the euro's advance to a record high against the dollar risks deepening an economic slowdown, stepping up their rhetoric in an effort to stem the currency's gainsEuro dollar retreated from record highs of $1.5275 yesterday over ECB President Trichet’s concerns on greenback weakness. Euro gains were threatening to dampen exports just as the U.S. slowdown dims the region's growth outlook. The euro's advance complicates the work of the European Central Bank, which meets on interest rates this week. European finance officials said they are ``increasingly concerned'' the euro's advance to a record high against the dollar risks deepening an economic slowdown, stepping up their rhetoric in an effort to stem the currency's gains.
Gold Sits Tight as "Only Thing that Sparkles" Ahead of US Data Deluge, European Rate Decision 2008-03-05 07:31:00 THE SPOT PRICE OF GOLD held in a tight $6 range early in London on Wednesday, trading 0.8% above last night's three-session low as Asian stock markets closed lower for the fifth day running and US bond prices rose ahead of a raft of economic data.Economists expect the ADP Employment Report for February to show the slowest growth in private-sector jobs since 2003, a survey by Bloomberg News shows.The data-fest then continues with Mortgage Applications for the week-ending Feb. 29th (last seen 19.2% lower), non-farm Productivity, unit labor costs, January factory orders and finally the Federal Reserve's Beige Book of economic stats and analysis at 14:00 EST."Gold is, in principle, the Dollar's counterpart," writes Arne Lohmann Rasmussen, senior analyst in Copenhagen for Danske Bank in the gro Read more:Thing
, Deluge
, European
Daily Analysis 2008-03-05 07:29:00 Today’s US Dollar Trading • USD softer, on support• No data but lots of rhetoric• Technical trade dominatesOvernight Preview• Look for continued consolidation by the majors• Book squaring likely ahead of US data in the morningLooking Ahead• 7:15 AM CST Wednesday ADP private payrolls• 9:00 AM CST Wednesday ISM Services forecast 48.5SummaryThe USD continued to soften against the majors today in quieter subdued trade that saw the greenback fall to support. Although there was not a lot of news today, rhetoric by both US Fed governors and overseas VIP’s kept the majors looking for clues to further action against the USD. Fed Governor Mishkin sounded a bit on the hawkish side while Fisher complained of how the Fed Funds rate is being used to narrow market rates. Overseas the ar Read more:Daily
, Analysis
ECB: At 1.50+, Is the Euro Too Strong? 2008-03-05 07:28:00 While it is not uncommon for European officials to try to talk down strength in their national currency, policy makers in the Euro-zone have started to show more significant discomfort with the Euro’s rapid appreciation above the 1.50 level, especially as the ECB’s hawkish rhetoric has only aided the currency’s rise. Nevertheless, with the Governing Council members of the ECB still focused on price stability, they are highly unlikely to back down from their battle against inflation in the near-term. Furthermore, European officials have been some of the toughest critics when it comes to the lack of currency flexibility in emerging markets like China, which nearly eliminates the chance of official FX intervention.Yield Spread Analysis 02/26 – 03/04Risk aversion is back in a big way a Read more:Strong
Yen Crosses Struggling to Recover 2008-03-05 07:26:00 With the US stock market falling 450 points since last Thursday and as much as 650 points intraday, carry trades continued to struggle. CHF/JPY is the only yen cross that closed in positive territory while AUD/JPY is the day’s biggest percentage loser. Finance Minister Nukaga believes that the economy is still on the path to recovery and recent data appears to suggest this possibility.DailyFX Read more:Crosses
British Pound: Ready for a Big Breakout 2008-03-05 07:25:00 The British
pound has been consolidating for the past week and the contracting range signals that the currency is prime for a big breakout. Our technical analyst believes that the breakout will be to the upside which aligns well with today’s sharp reversal in US stocks. Having been down over 200 points intraday, we may now see another 200 point rally in stocks. Over the medium term however, UK rates are still headed lower and we believe that fundamentally, weakness should still be the dominant trend in the British pound. UK economic data has been mixed with construction sector PMI falling short of expectations and manufacturing sector PMI beating them. Service sector PMI is due for release tomorrow which could be the catalyst for a break in the pound.DailyFX Read more:Pound
, Breakout
Euro Holds Near Record Highs 2008-03-05 07:24:00 The Euro is holding up well near its all time record highs as comments from ECB officials suggest that intervention risk is minimal. Although Eurogroup Junker believes that the euro is overvalued, he feels that this is more a problem with the US dollar than the euro itself. Most European officials recognize the fact that a strong currency is needed to contain inflation. With corn prices at a record high and rice prices at 20 year highs, it may just be a matter of time before we see a big jump in consumer prices. At this point, the ECB needs their currency to be strong and growth to slow in order to have any chance of bringing inflation back below their target. Eurozone PPI and GDP were right in line with expectations so there was no major reaction in the Euro. Service sector PMI and retail Read more:Record
US Dollar: Time to Shift Focus to Non-Farm Payrolls 2008-03-05 07:24:00 The US dollar extended its weakness against the Euro, British pound and Japanese Yen as traders begin to shift their focus to Friday’s non-farm payrolls report. Tomorrow we are expecting a number of leading indicators for non-farm payrolls including the Challenger Layoff report, the ADP employment survey and service sector ISM, which should be a big market mover. If service sector ISM fails to recover, there is a decent chance that we will see a particularly horrid non-farm payrolls number on Friday. Fed officials are also dueling it out on inflation which suggests that the Beige Book report, which will also be released tomorrow could focus primary on growth. Federal Reserve Governor Mishkin believes that the US economy faces grave risks and inflation pressures would abate because of tha Read more:Dollar
, Shift
, Focus
, Payrolls
Interest Rates: Where are they Headed? 2008-03-05 07:22:00 There are six central banks announcing interest rate decisions this week and two out of the six have already made their decisions official, with the Reserve Bank of Australia raising rates by 25bp and the Bank of Canada lowering rates by 50bp. In the currency market, it is not about what you have done but what you plan on doing in the future that matters, which is why both the Australian and Canadian dollars sold off after the monetary policy meeting. Interest
rates in Australia are now at a 12 year high, but that did not prevent the Aussie from falling over 1 percent against the US dollar, Euro and Japanese Yen. After raising interest rates by 100bp over the past 8 months, the RBA is pressing on the breaks while the BoC is pushing on the gas pedal. According to the statement given by Gove Read more:Rates
, Interest Rates
Day Trading Tips for Dummies 2008-03-04 10:23:00 When primitive people have invented money, all they have in mind is to find some means to solidly show the actual exchange of goods or services between two persons or groups. Since then, any exchanges of goods have been centered on money, bearing the most tangible form of trade.As time pass by, trading has significantly evolved in different industries where money is not the primary agent. Trading
becomes a profitable venture; and had created a remarkable spot in the economy.Today, there are many kinds of trading. Every type of trading depends on the kind of exchange that will take place. For instance, Forex or foreign exchange trading focused on foreign currencies.Among the many trading types, day trading has slowly etched a name in the industry. With its remarkable turn of profits, day tr Read more:Dummies
, Day Trading
Forex Trading: The Fear Factor 2008-03-04 10:23:00 Market knowledge and ability to understand analysis will only get you so far in forex trading, but without the nerve to actively compete risking your own money in the process you can never become a successful trader.Wagering huge volumes of money in a market as susceptible to change is liable to cause a whole range of opposing emotions; fear, excitement and anxiety just to name a few. Battling against your emotions in order to complete a successful deal is one of the major hurdles, which must be overcome if you are to become a trader able to close huge deals and earn vast sums of money. If you can overcome or even use these emotions to make trades on the Forex
then a successful career may be beckoning, but failure to do so will almost certainly cost you a substantial amount of money and en Read more:Trading
, Forex Trading
EUR/USD - MACD 12 & 26 are headed downwards 2008-03-04 10:20:00 Technical analysis shows buy bounce levels near $1.5075Prices are testing the middle band of the standard error channel and flirting with the upper Bollinger band. MACD 12 & 26 are headed downwards after a bearish cross although not with the strongest momentum. RSI remains relatively strong. Technical analysis shows buy bounce levels near $1.5075.Finotec
The 6 Advantages Forex Trading Has Over Other Investments 2008-03-12 10:27:00 There are many different advantages to trading forex instead of futures or stocks, such as: 1. Lower Margin Just like futures and stock speculation, a forex trader has the ability to control a large amount of the currency basically by putting up a small amount of margin. However, the margin requirements that are needed for trading futures are usually around 5% of the full value of the holding, or 50% of the total value of the stocks, the margin requirements for forex is about 1%. For example, margin required to trade foreign exchange is $1000 for every $100,000. What this means is that trading forex, a currency trader's money can play with 5-times as much value of product as a futures trader's, or 50 times more than a stock trader's. When you are trading on margin, this can be a ver Read more:Advantages
, Forex
, Trading
, Investments
Learn Currency Trade — Intro to The FOREX Market 2008-03-12 10:26:00 The Foreign Exchange Market
— better known as Forex — is a world wide market for buying and selling currencies. It handles a huge volume of transactions 24 hours a day, 5 days a week. Daily exchanges are worth approximately $1.5 trillion (US dollars). In comparison, the United States Treasury Bond market averages $300 billion a day and American stock markets exchange about $100 billion a day. The Foreign Exchange Market was established in 1971 with the abolishment of fixed currency exchanges. Currencies became valued at 'floating' rates determined by supply and demand. The Forex grew steadily throughout the 1970's, but with the technological advances of the 80's Forex grew from trading levels of $70 billion a day to the current level of $1.5 trillion. The Forex is made up of abou Read more:Currency
, Trade
USD/JPY - MACD 12 & 26 had a bullish cross well below the zero line 2008-03-12 10:23:00 Market strategy is to sell a failure to break 103.42 whilst covering a bounce near 102.45Momentum has lost some steam as it makes a small dive towards the 0 line. MACD 12 & 26 had a bullish cross well below the zero line. Prices trended along the lower Bollinger band as it made a break for the upper band, although has now rebounded down towards the middle section without touching the upper band. Market strategy is to sell a failure to break 103.42 whilst covering a bounce near 102.45.Finotec
GBP/USD - MACD 12 & 26 had a bearish cross above the zero line 2008-03-12 10:21:00 Market strategy is to cover a bounce near 1.9995Sterling’s momentum is recovering towards the zero line. MACD 12 & 26 had a bearish cross above
the zero line. Prices have made a break past the middle Bollinger band but rebounded downwards without touching the upper band. Market strategy is to cover a bounce near 1.9995.Finotec
EUR/USD - Momentum is recovering after dipping below the zero line 2008-03-12 10:18:00 Market strategy is to buy a bounce near 1.5334Momentum is recovering after dipping
below the zero line. The upper Bollinger band provided some resistance for prices but we just had a breakthrough. The Bollinger band is slowly opening up. Market strategy is to buy a bounce near 1.5334.Market strategy is to buy a bounce near 1.5334Finotec
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