Posted by
BettyBoop on December 9, 2009 |
No comments
Pound Range Bound Since May by GoLearn Forex
GBP/USD:
The Greenback continues to rally and we are approaching pivotal handles across the G-10. The GBP has been range bound since the end of May, so much so, that it is the worst performing currency against the Dollar amongst the G-10 since May 25th. Currently the 100 day MA is sitting above the 50 day MA which is indicative of a falling price environment.
The Pound is currently trading at 1.6276 and the 50 SMA is sitting at 1.6404. A close below the 50 SMA generates a strong Short entry signal. In addition, using the Fibonacci Retrace from the Cable’s low on March 11th at 1.3657 to the Cable’s high at 1.7043 on August 5th brings to the forefront some important levels.
INSERT CHART A
The 23.6% Retrace level sits at 1.6244 just 30 pips from the current mark. The close today likely below the 50 SMA coupled with a breach of the 23.6% level may send the GBP free falling to the next Fibo level of 38.2% or 1.5749.
There are a number of trading indicators that are used for ranging markets versus trending markets. The MACD is a common and important tool for traders as it more easily identifies momentum and changes thereto. In the Chart below the red vertical line highlights the crossover of the Average versus the MACD, representing a shift in momentum.
INSERT CHART B
Another indicative technical pattern we use are lower lows, lower highs and vice versa. As you see on the chart above we have been trending down within the range. More importantly we have reached a succession of lower high and lower lows. The more the pattern repeats itself the greater the confirmation of the move and the more likely it is to continue.
The combination of MA’s, Fibonacci’s, MACD, and technical patterns identifies potential entry points, momentum, and profit targets.
Gold Continues Sell-off by GoLearn Forex
Global Equity Markets slumped on Tuesday as a wave of poor economic news and lowered rating caught the market off guard. In Japan, GDP printed less than forecasted, coming in at 1.3%. Fitch lowered its rating on Greece. In Dubai, the main developer reported a $3.65 billion loss contributing to the market’s woes. The DJIA finished the session down 104.14 points to close at 10,287.97
The Dollar continued its rally feeding off the poor equity performance as risk aversion remained in firm control. The DXY closed at 76.31, a level not seen since early November. Gold continued its selloff as it closed the day down $30 to 1,128.40. Oil was not far behind finishing the day down $1.31 to 72.62 a barrel.
The BOC left rates unchanged at .25. In Switzerland, Unemployment printed as expected for November at 4.2%. Later today the RBZ will announce its Interest Rate decision. They are widely expected to keep rates on hold, currently at 2.5%. With no relief insight we expect the dollar rally to continue in to today.
Upcoming Forex Events for December 9, 2009
CHF Unemployment Rate Actual 4.10% Forecast 4.20% Previous 4.10%
EUR German CPI (MoM) Actual -0.10% Forecast -0.20% Previous -0.20%
NZD Interest Rate Decision Forecast 2.50% Previous 2.50%
AUD Employment Change Forecast 6.00K Previous 24.50K
Analysis by http://www.golearnforex.net
Tags: daily forex analysis, forex analysis
Posted by
BettyBoop on December 9, 2009 |
No comments
It’s very simple to earn a triple digit income with the help of the methods of forex trading. This article deals with the making of the forex trading a simple one. We may have an idea that the forex trading is the one which is hard to learn because most of the traders who step into this end up in the loss. But this idea is false. The forex trading is actually a very simple thing if understood well. We will have to make clear idea on what it is about. In this article we will see on how to learn the concepts of forex trading.
According to your desire the currency trading can be made successful. Simple tips are available and if you learn them then you can make trading a successful one. The forex traders have a basic idea that if they buy a forex robot and have a belief, then they can easily get rich. They will be given a good income for their whole life without doing any work. This idea can be great if the forex trading is brought to us in simpler terms. If this idea comes into existence, most of the traders won’t loose.
It’s actually based on how we work. We have to work with some dedication. If we work smart then we can learn quickly. Learning the tactics quickly can help us to go into peaks. We can definitely see some good profits. If our system is also made simple from complex one then the forex trading is also made simple and the work done will also be very simple. Some persons have a thought that the effort and the intelligence are the most essential things that will make us t survive for more time in the market. But we can’t expect reward for these sorts of traits. If you are right, you will obviously be rewarded. In applying the hardest part is applying with discipline and this is the place where the failure occurs. We will now start to learn to be disciplined and create our mindset to the good condition and analyze on how to do it.
The forex trading education is another important factor such that we get confidence on what we are doing and we get an idea for the discipline to the trade on our system through period of losses. All systems have to hit a long losing period. Most traders believe that we can make money without hitting it.
If we meet with a loss and if we keep it small then we will be facing a serious winners in the long run such that the winning will clear out the losses kept earlier and it will provide us with overall profit.
Tags: Forex Trading, fx trade, Trading Forex
Posted by
NigelGee on December 9, 2009 |
No comments
Does success of Forex managed account depend upon automated Forex trading software? The answer is yes, as you know how to manage the entire trading system. In the Forex trading market, there are several claims, which new pieces of Forex trading software replace you and observe your Forex trades. It is fractional, but not all. The Forex trading market is the place where the currencies of various countries are traded 24 hours a day because of their respective worth differ according to the local trading time of their countries. As Forex trading market is open for 24 hours, you can get huge profits
Before start doing Forex trading, you should take proper Forex education. On Internet, you will find many courses about Forex that are free. With the help of these online courses, you will learn Forex basics and do successful trades. Traders need to choose correct Forex trading strategy. Right choice of Forex strategy can bring huge profits in trading business. There are many sources available online through which you can get best Forex strategy. There is high frequency of purchasing as well as selling; the trading armlet is violent fluctuation. Few traders like to make an investment in the Forex trading market as it can run all the time and the trading system is actually challenging, whereas the stock exchanges have set locally closing time. Several Forex traders select automated software rather than manual trading to follow their Forex trading accounts, as several traders do not have time to devote all-time on job tracking. The skills, which track to trade on Forex market are widely open that need high mental concentration as well as calmness of mind.
Now let us have a look at how traders use automated Forex robot intelligently to conduct everyday trades? Forex robots help traders to manage their daily trades and get huge profits. Forex robots are the best guide for traders to get knowledge about Forex trading and identify market trend. Therefore, traders should purchase a Forex robot by doing a little search on net. Traders must try their best in collecting and uniting different variables from dissimilar vantage points, with all the factors focus on collecting gains. To include a varied group of sovereign variables will help in illuminating more vitality to your trading decisions and the trading results will be more trustworthy.
The significant variables are items, which locate short selling chances and long-term trades. The edge of few trading systems includes the currency trading market elements to calculate RRR and utmost single trade dollar loss. It guarantees the accretion of gains over losses and trading investors must remember to trade small and not to forsake the 2% rule- the utmost single trade size. Hence, if Forex traders do their researching and observe online, make sure they squeezed the robots in a way to pay attention to several variables and keep up high possibility.
Tags: Forex Trading, fx trade, Trading Forex
