Wednesday, 14 September 2011

Friday, 9 September 2011 Daily FX Market Outlook

Daily FX Market Outlook by Ace

U.S. non-farm payrolls were much worse than market expectation as no new jobs were added vs street forecast of a 75k increase and July's figure was revised sharply down from 117k to 85k. Private payrolls came in at 17k vs forecast of 105k whilst the unemployment rate remained unchanged at 9.1%.     Versus the Japanese yen, the greenback edged lower from Asian higher at 76.97 to 76.75 in European session on cross buying of yen vs other currencies. Despite dollar's recovery to 76.88, the pair quickly dipped to 76.53 in NY morning after the release of the dismal U.S. jobs data but then climbed back to 76.85 ahead of NY closing on short-covering.    The single currency ratcheted lower from Asian high at 1.4287 to 1.4209 in European morning on cross-selling of...

Tuesday, 6 September 2011

Daily FX Market Outlook by AceTrader-31-8-2011

Although the single currency edged higher to 1.4533 at Asian midday following Monday's rise to a near 2-month high of 1.4550, failure to re-test this resistance caused price to retreat at European open, the pair tumbled sharply to 1.4385 due to weaker-than-expected EU data together with the widening bond yield spread (Italian/German 10-year government bond yield spread rose above 300 basis points, the highest since ECB started buying the bonds) but later pared its losses on rumours the ECB bought significant amount of Italian 10-year bonds. Euro eventually recovered to 1.4465 in NY afternoon after the release of FOMC minutes.    The single currency was pressured as Italy sold 7.7 billion euros ($11.1 billion) of debt, including 3.75 billion euros of 10-year bonds, with...

Daily FX Market Outlook by AceTrader-2-9-2011

The single currency edged lower from Asian high at 1.4381 and then tanked to 1.4263 in European morning on cross selling of euro vs other currencies (eur/jpy, eur/gbp and eur/chf tumbled from 111.00 to 109.53, from 0.8856 to 0.8797 and from 1.1603 to 1.1321 respectively). Although euro rebounded to 1.4315 after the release of better-than-expected U.S. ISM manufacturing data (50.6 vs street forecast of 48.5), the pair eventually dropped to session low at 1.4227 before staging a recovery to 1.4298 at NY midday.    Earlier in Europe, euro was pressured as German and EU Manufacturing PMI for August were reported worse than expected at 50.9 and 49.0 versus forecasts of 52.0 and 49.7 respectively.    Against the Japanese yen, the greenback rallied initially to...

Forex and Dow Jones recommended levels

Today’s support: - 1.3997 (main), where correction is possible. Break would give 1.3966, where correction also may be. Then follows 1.3928. Break of the latter would result in 1.3905. If a strong impulse, we would see 1.3872. Continuation will give 1 .3857 and 1.3826 . Today’s resistance: - 1.4136 and 1.4178 (main). Break would give 1.4197, where a correction is possible. Then goes 1.4226. Break of the latter would result in 1.4277. If a strong impulse, we’d see 1.4296. Continuation will give 1.4312. USD/JPY Today’s support: - 76.61, 76.45 and 76.27 (main). Break would bring 76.17, where correction is possible. Then 75.91, where a correction may also happen. Break of the latter will give 75.66....

Friday, 29 July 2011

Trading Types – Day Trading, Swing Trading and Position Trading

Share Market Trading can be classified into either of these categories - Day Trading, Swing Trading and Position Trading. However, the common factor among all types of traders is that Stock market traders keep up with the news. The businesses and industries react to government actions, changes in oil prices, economic forecasts and world events. The successful stock market trader stays informed about the circumstances outside a company that could cause price fluctuations for the stock. Day trading conditions the most intense approach to stock market trading. To be on top of the fluctuations in stock prices, day traders spend hours together in monitoring the market. Day traders could make dozens of trades any day, sometimes in a matter of minutes hoping to grab the wave of price change. They...

Thursday, 28 July 2011

The Discovery and Refinement of a Highly Profitable Forex Trading Method

I’m going to tell you something I’m a bit ashamed of… I’ve lost money trading. More money than I’d like to remember. How did I lose it? You name it. “Professional” advisors, tips from friends and family, computerized systems, and so on. I finally got to the point of being sick and tired of being sick and tired. You’d think that a guy with an MBA in finance would know better. I struck out on my own doing my own independent research, looking for something that would work. Countless hours were spent on dead ends. Finally things started to click and a successful technique was found. I christened this technique the “Pip Factory” since it manufactures pips day in and day out, just like a factory. This is an...

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