Posted by
BettyBoop on November 3, 2009 |
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Kiwi Declines Against USD by GoLearnForex
NZD/USD:
The Kiwi declined the most against the Greenback last week, compared to the rest of the G-10. On October 28th the RBNZ kept rates on hold. More damaging to the Kiwi were the accompanying statements from the RBNZ in which they remarked that rates would likely remain on hold through Q2 of 2010.
Six days prior to that announcement NZD struck near the prior day’s high versus the dollar at .7606. Since that day the Kiwi has been in a tail spin. The Chart below is a daily Candle chart of NZD/USD.
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In the white circled area we have a Candlestick that traders refer to as a Hangman. There is a short candle body with a wick hanging down from it. When this is seen during price appreciation it may signal a possible reversal. The candles following the Hangman are lower and that could be confirmation enough to enter a short NZD position.
This pattern appearing out in front of a rate decision may have been traders signaling caution ahead of the announcement. In the end traders were correct and price has continued to decline. One last item to always keep an eye on are the daily Moving Averages. NZD is approaching a close below its 50 day MA. A close below the 50 day MA should put further pressure on the already battered NZD.
USD/CHF:
We have discussed correlations and their importance. Aside from straight technicals and fundamentals often what drives a currency might be its correlation to another instrument, product and or commodity. The Swiss Franc historically has had a very tight correlation to Gold, as one appreciates so does the other and vice versa.
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The Chart below shows the price movement of GOLD and CHF. During Gold’s most recent depreciation (as depicted between the 2 blue lines), you observe the strong correlative effect one exerts on the other. What should grab our attention as Gold has resumed its strength is that the Franc has not. As a trader you should wonder if Gold is overbought or the CHF oversold? Of course keep in mind it is not a perfect correlation of 1, meaning some variation is normal.
US Markets finish the Day Slightly Ahead by GoLearnForex
In Asia, Equity Markets were down while in London and in the U.S markets finished the day slightly ahead. This is coming on the heels of a horrendous close on Friday in the U.S and CIT’s bankruptcy filing over the weekend. Equity Futures in Asia are pointing to a slightly higher open for Tuesday while London Futures are modestly lower.
The Dollar was slightly off against the G-10 mirroring the DJIA small advance today of 77 points. Oil closed today mostly unchanged while Gold soared again to 1,054. In the U.S the ISM Manufacturing figures printed smartly better than expected coming in at 55.7 versus expectations of 53. In addition, the Pending Home sales figures surprised to the upside at 6.1% against expectations of 0%.
This is a busy week for economic data releases. Due out tomorrow will be the RBA Rate decision. The current rate holds at 3.25% and market consensus is looking a quarter point hike to 3.5%. In the U.S, Factory Order numbers are set to print. A positive show will confirm today’s ISM numbers while a below consensus read will cast doubt on the durability of the ISM figures from today.
Upcoming Forex Events for November 3, 2009
GBP Construction PMI Forecast 47.20 Previous 46.70
USD Factory Orders (MoM) Forecast 1.00% Previous -0.80%
AUD AIG Services Index Previous 49.30
GBP Nationwide Consumer Confidence Forecast 72.00 Previous 71.00
Analysis by http://www.golearnforex.net
Tags: daily forex analysis, forex analysis
Posted by
BettyBoop on November 3, 2009 |
No comments
FOREX is the name that you mush have heard and I know you must be a little lot about it, you must have seen its being mentioned or shown on various financial channel or even you would have seen it being mentioned mostly by all the prim and proper newscasters on a very famous news channel, which is popular by the name of BBC or Bloomberg, but tell me what is the reality do you actually have an idea that what FOREX trading is all about? I know what your answer would be. And be sure your answer is a correct one, yes it is about FOREX trading with currency but tell me do you have any clue that how does a particular trading system works? How it is possible that you can make quite a lot of money from the trading system about which you don’t know anything? I am just writing this article in order to educate you, guide your way through all odds. I just want to make it a little easier for you, so that you can trade normally in FOREX market.
The FOREX market about which I am talking about is actually a market that deals really very strictly in currencies. Normally, the people who make their dealings with FOREX market purchases a very large amount of another countries currency in exchange of paying for some another currency. I know you must be really Confused with all this? But don’t I will explain you all this in a much deeper way. Yes all this is really possible. Basically it is all concerned about purchasing and selling of various forms of money. And this is actually the real way by which you make large amount of money. All this happens when one particular currency gets stronger or when the other one grows weaker. The trading market will always make an effort in order to balance itself out at that time when one currency gets weaker and weaker, so you and all the other traders can actually make heavy sum of money in both the ways. Downturn in the market of currency can actually make you a millionaire as all the other currencies will be much strong against it. In the market of trading the currency of U.S.A, which is dollar is considered as the normal benchmark but some of the people might argue on that in today’s market of trading, it is quite possible that it might be the currency of Germany, which is Euro or even the Sterling Pound of British. It is really very complicated to discuss on all this.
Being the biggest and the most liquid form of financial market in today’s genera, it visualizes the participation of all the banks, all large commercial companies, firms that are investing, trading brokers, trading firms and even many other smaller players.
Tags: forex trader, Forex Trading, fx trade, Trading Forex
Posted by
NigelGee on November 3, 2009 |
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It is true that Forex trading market is a best way of making money. Many people are there, who are doing full time Forex trading business. They can actually earn their living out of this trading business. There are a number of advantages doing Forex trading business. The great advantage of doing Forex trading is that you can start this business by making a small amount of investment. But you require powerful trading tools to assist you to get victory in your business. You also require having a good risk management plan. It will assist you in maximizing the gains and minimize the loss. You also require using trading tools to make Forex prediction. These trading tools help Forex traders easily trade and earn a lot.
You might wonder how Forex prediction can assist you in your trading. You can even verify whether your predictions are right or not. In fact, these types of prediction systems are based on statistics and logic. This type of trading system can provide you right prediction. You can even discover the Forex trends. Working according to Forex trends is the best formula to earn a lot in this business. It will certainly assist you to take the good decision for trading and getting great gains. As we discussed above, you require minimizing your loss and maximizing your gain. To his end, you also require expanding your portfolio.
It is one of wonderful ways to manage the risk involved in Forex trading business. Of course, you must also attempt to decide the degree of risk that you can take. This is the perfect way of winning in the Forex trading market. You will surely know that you need to unite forecast system with risk management plan for making profits in trading business. There are only few Forex trading tools that assist you in making the forecast. For instance, both Forex Ambush and Fap Turbo are two trading software systems that are proven to be accurate. These software systems will surely help you in your trading business easily just by automating few processes as well as procedure. Forex trading system is an essential part of trading. Perfect Forex trading system guides you to obtain great profits. Hence, you need to select a right trading system.
If you are very serous about making profits in the Forex market and want make your business gainful then you must make use of Forex trading robots to assist you in forecasting and automating the trades. Correct choice of trading software gives you great profits. Therefore before starting Forex trading, you need to purchase trading software. You need to consider certain things before purchasing trading software.
Tags: Forex Trading, fx trade, Trading Forex
