Monday, October 29, 2012

EUR/USD Weekly/Monthly Pivot Points Trading Signals

EUR/USD Weekly/Monthly Pivot Points Trading Signals


EUR/USD Weekly PivotsThe EUR/USD is located below the weekly pivot point and above the Moving Average of 200 periods. Accordingly, the pivot points signify the following. The EUR/USD is trading a few pips below the weekly pivot, near this level a downward movement is likely to be seen. On the other hand, above the weekly pivot the euro can take upward force and return to the levels of 1.3150 (strong resistance). Read more

EUR/USD Weekly Technical Levels - Oct 29 - Nov 2, 2012

EUR/USD Weekly Technical Levels - Oct 29 - Nov 2, 2012

EUR/USD Technical Levels - November 2012
R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through.
Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines.
Within a strong trend the price is expected to be lower than the pivot point line and continue the movement. If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 & R3 or S2 & S3. Read more

CFTC Commitments of Traders (COT) Report - Oct 29, 2012

CFTC Commitments of Traders (COT) Report - Oct 29, 2012

Here are the essentials of the latest Commitments of Traders (COT) report, released on Friday, October 26, by the Commodity Futures Trading Commission (CFTC) for a week ended October 22.

The value of USD net short position decreased from $8.14 billion October 16 to $4.0 billion. Also note that net shorts on EUR increased. JPY net long positions turned to short, while CHF shorts switched to long. Read more

FOREX 1986 BBC Documentary: The Billion Dollar Day

Forex Majors Banks Forecasts - October 29, 2012

Forex Majors Banks Forecasts - October 29, 2012


Forex Banks Forecasts - October 29, 2012FX Majors forecasts for EUR/USD, GBP/USD, USD/JPY, USD/CHF and EUR/JPY from major banks including Bank of America Merrill Lynch, Bank of China, Bank of Montreal, Barclays Capital, BNP Paribas, Credit Agricole, CIBC, Danske Bank, Morgan Stanley and many more. Forecasts are submitted on October 26. Read more

EUR/USD Technical Analysis - October 29, 2012

EUR/USD Technical Analysis - October 29, 2012

A new week starts with a slight decrease of EUR/USD pair, as the price settled beneath the upside trend, which began on 25th of July. Currently the price is very close to the 55-day SMA at 1.2878. 

The next support level would be 1.2840, where are the Bollinger band and the weekly S1, monthly PP levels. However, currently this pair is in a very vague situation and may develop into a new triangle pattern, a down sloping channel or just in a wide flat zone. Read more

Friday, October 26, 2012

FXCM Canada Rebates - Friedberg Direct

FXCM Canada Rebates - Friedberg Direct


Receive .70 Pips Rebates per round turn lot traded at FXCM Canada Friedberg Direct. Click here to get rebates
FXCM CanadaThe relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM's suite of products, including its award-winning trading platform, No Dealing Desk forex execution and other operational services, while maintaining their accounts with a regulated Canadian firm.
All accounts are opened by and held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of theInvestment Industry Regulatory Organization of Canada (IIROC).
Friedberg is also a member of the Canadian Investor Protection Fund (CIPF), so all accounts are protected by CIPF up to $1 millionRead more

Thursday, October 25, 2012

USD/CAD Intraday Technical Analysis - October 25, 2012

USD/CAD Intraday Technical Analysis - October 25, 2012

USD/CAD Daily - 25 October 2012
The USD/CAD bullish movement managed to break above the upper limit of the depicted long-term channel (0.9725).
It was considered to be a bullish signal in the long term with a confirmed bullish 123 reversal pattern appearing on the DAILY chart. It is targeting 0.9980 as long as the pair is consolidating above 0.9880. Read more

Copytrader by eToro - How does it work?

Copytrader by eToro - How does it work?


Connect with likeminded traders and investors on the largest Social Trading Network in the world. 

Post messages and interact with the best traders right on their wall, copy their trades and learn from their experience - tap into the wisdom of the crowds and see what social trading can do for you. The social trading revolution has begun; you’re not going to want to miss out. Learn more 

EUR/USD Intraday Technical Analysis - October 25, 2012

EUR/USD Intraday Technical Analysis - October 25, 2012

EUR/USD Daily - 25 October 2012
The EUR/USD pair attempted to push lower yesterday, but found a good support at the lower limit of the bullish channel depicted on the DAILY chart above and traded higher earlier today hitting 1.3012.
The bias is bullish in the short term, especially if price is able to make a clear break above 78.6% Fibonacci Level around price level of 1.3015 allowing the pair to reach 1.3070 initially. Read more

Wednesday, October 24, 2012

100% Deposit Bonus Up to $1000

100% Deposit Bonus Up to $1000

Paxforex Website
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US elections: what about the dollar?

US elections: what about the dollar?


There are different view concerning this issue, but the most common view is presented below.
If Obama wins, US dollar might weaken. The reelection of President Barack Obama is generally seen as a better outcome for the market’s sentiment and could be good for stocks and risk-sensitive currencies and, consequently, negative for the greenback. Read more

EUR/USD Technical Analysis - October 24, 2012

EUR/USD Technical Analysis - October 24, 2012

EUR/USD pair experienced a strong downside impetus during yesterday trading session. The previous support level at 1.3024 was unable to maintain an impulse power and currently the price is around a 1.2970 level. 

Also, the exchange rate is breaching uptrend line, which was started on July 24. If the price settles below this line, it is very likely to see EUR/USD depreciation in the short run. Read more

Forex - Economic News & Data Outlook - October 24, 2012

Forex - Economic News & Data Outlook - October 24, 2012


EUR/USD consolidates below $1.3000. The single currency remains under pressure ahead of today’s important economic releases.
Reports today are forecasted to show manufacturing and services industries in the euro area contracted for nine months in a row (figures remain below 50). Note that only the German services PMI is expected to register a 50 reading for the first time in three months. German Ifo business confidence in October is forecasted to remain close to the lowest level since February 2010 (cons.: 101.5; prev.: 101.4). Read more

Tuesday, October 23, 2012

Pause in Monetary Policy Gold Drop Below $1710

Pause in Monetary Policy Gold Drop Below $1710

Gold
WHOLESALE PRICES for gold bullion dropped below $1710 an ounce ahead of Tuesday's US session, its lowest level in over six weeks, as stocks and commodities also fell and the Dollar rallied, with two weeks to go until the US presidential election.
Silver bullion fell through $32 an ounce to hits its lowest level since the first week of September.
"You've had QE priced in and what we're seeing now is a bit of a retracement following that," says Daniel Brebner, analyst at Deutsche Bank, referring to last month's Federal Reserve announcement of open-ended quantitative easing. Read more

EUR/USD Technical Analysis - October 23, 2012

EUR/USD Technical Analysis - October 23, 2012

EUR/USD pair, after rebounding to 1.3024 support level, slowly moves up towards 1.3115 resistance zone and forms a triangle pattern with an uptrend line since October 1st and the horizontal upper line at 1.315/35. 

The triangle pattern usually brakes through the upper horizontal line with a strong impulse. This idea is also supported by the daily and weekly technical indicators and RSI, which holds a value of 56 and still not indicates about an overbought situation. Read more

Monday, October 22, 2012

The Three Phases of a Trader's Education

The Three Phases of a Trader Education


Aspiring traders typically go through three phases in this order:
  1. Methodology -- The first phase is that all-too-familiar quest for the Holy Grail -- a trading system that never fails. After spending thousands of dollars on books, seminars and trading systems, the aspiring trader eventually realizes that no such system exists.
  2. Money Management -- So, after getting frustrated with wasting time and money, the up-and-coming trader begins to understand the need for money management, risking only a small percentage of a portfolio on a given trade versus too large a bet.
  3. Psychology -- The third phase is realizing how important psychology is -- not only personal psychology but also the psychology of crowds. Read more

EUR/USD Technical Analysis - Oct 22, 2012

EUR/USD Technical Analysis - Oct 22, 2012


EUR/USD has pulled-back to support from an old support line (the former boundary of a wedge pattern) and will probably rise.
A break above the 1.3065 highs would provide added confirmation and perhaps lead to a rally back up to re-touch the 1.3135 recent highs and the weekly pivot. Read more

Gold Wave Technical Analysis - October 22, 2012

Gold Wave Technical Analysis - October 22, 2012


Gold Elliott Wave: Last Friday Gold was trading in a downward move like we expected; final (C) wave (coloured green) of the bigger wave (4) (coloured orange) is developing.
During the European session we could observe descending movement from 1,742.66 towards the 1,730.72 level. Therefore, during the early New York session Gold continued trading in a strong bearish mood and price reached 1,712.98 level.
We can consider this move as the end of the corrective wave (4) (coloured orange).  Read more

Forex Majors Banks Forecasts - October 12, 2012

Forex Majors Banks Forecasts - October 12, 2012

FX Majors forecasts for EUR/USD, GBP/USD, USD/JPY, USD/CHF and EUR/JPY from major banks including Bank of America Merrill Lynch, Bank of China, Bank of Montreal, Barclays Capital, BNP Paribas, Credit Agricole, CIBC, Danske Bank, Morgan Stanley and many more. Read more

EUR/USD Technical Analysis - October 22, 2012

EUR/USD Technical Analysis - October 22, 2012

EUR/USD pair retreated from the last week's high on Friday trading session and indicated about a strong resistance level around 1.3115/35, but this morning the price has found the resistance at 1.3024 and appreciates from it on early trading session. 

As most of indicators tempt about a possibility to open a long position and RSI has not reached a value of 70, it is very likely that we will see a new high in the near future. Read more

Friday, October 19, 2012

Bernanke Bigger Bubble: QE3 and the Coming Economic Crash

Bernanke Bigger Bubble: QE3 and the Coming Economic Crash


Federal Reserve Chairman Ben Bernanke really means it this time. He will rescue the economy.
Ben S. Bernanke for the first time pledged that the Federal Reserve will buy bonds until the economy gets closer to his goals ... . The central bank yesterday announced its third round of large-scale asset purchases since 2008, with the difference that it didn't set any limit on the ultimate amount it would buy or the duration of the program. ... Bernanke is "going to fight and fight until he sees a real improvement in the economy," said a co-head of global economics research at [a major bank]." He believes quantitative easing can help the economy, so he'll just keep at it until there's a real turn in the economy." Read more

Forex - Economic News & Data Outlook - October 19, 2012

Forex - Economic News & Data Outlook - October 19, 2012


The first day of the EU summit was rather quite. European leaders agreed on a legal roadmap to establish a single bank supervisor, expected to enter into force in 2013, but this was no news to the market. Spanish Prime Minister Mariano Rajoy said that the potential Spanish bailout wasn’t mentioned yesterday.
US dollar strengthened on Thursday during American session versus its riskier counterparts as Google’s shares slumped by 10% after its earnings report was leaked too early and showed that the company earned less than expected. Read more

AUD/USD Look to the 1.05 Area (VIDEO)

AUD/USD Look to the 1.05 Area (VIDEO)


8-minute video by EWI's Currency Specialty Service editor shows you how the Elliott wave concept of "waves within waves" allows you to find both the short- AND long-term trends
In mid-July, AUD/USD, the exchange rate between the U.S. and Australian dollar (and a popular forex pair) was trading near 1.0100.
But Elliott wave analysis told EWI's Currency Specialty Service editor, Jim Martens, to expect a big rally: all the way to 1.05, at least.
Three weeks later, AUD/USD indeed rose to that target -- and then some. On August 7, AUD/USD hit a high of 1.0600 -- a 400-pip rally. There is a lot more to this story.