How To Choose A Forex Trading System
Choosing a Forex trading system should be a careful decision for you. Choose the wrong system and you’ll be out of pocket for both the cost of the system and the cost of the trades that went wrong when you follow the trading system you’ve just bought.
Make sure that you check out the various reviews and forums that are available online.If you’re relying on a review, make sure that it comes from a site that you can trust. If the design of the site looks cheap and unprofessional and is littered with flashing adverts then it’s worth pressing the Back button fast!Forums are probably a better bet as you’ll get lots of different opinions from the regular people who post. The better forums may even have a section devoted to systems, with a number of user reviews of each one.
Take the time to seek out this kind of advice. It will cost you time but almost certainly save you money.
Tuesday, July 6, 2010
Forex Trading Styles
Forex Trading Styles
There are two main Forex trading styles that are used by a majority of Forex traders:
Technical Trading
Fundamental Trading
Each of these has its differences, so let’s look into them in some more detail.
Technical Forex trading is primarily based on one of two tools. Charting tools are, as the name suggests, charts of past currency movements. As with any chart, you can add in trend lines to help smooth out the minor fluctuations and allow you to see the bigger picture. Of course, charting is a lot more complicated than mere trend lines but there are software programs out there that will help with your chart analysis. Once you get deeper into charts, the other main technical Forex trading method is the use of Quantitative Trading Models. These use math to analyze the markets and identify opportunites for trading. Technical trading uses past data to endeavor to predict future movements in the market.
Fundamental Forex trading involves the analysis of things such as key economic data. This includes reports from governments, current event news coverage and any other data that the fundamental analyst considers useful. Fundamentalists consider that currency movements are mainly affected by economic and political conditions and events. Whilst central banks have been known to get involved in the currency markets, this has become less common in recent years. Fundamentalist Forex trading looks at interest rates, inflation figures, balance of trade figures, Gross Domestic Product, retail price indexes, producer price indexes amongst other factors.
You need to decide which of these two trading styles fits best with your own personal style as well as the amount of time you have available for analysis and any help that you can get from computer programs.
There are two main Forex trading styles that are used by a majority of Forex traders:
Technical Trading
Fundamental Trading
Each of these has its differences, so let’s look into them in some more detail.
Technical Forex trading is primarily based on one of two tools. Charting tools are, as the name suggests, charts of past currency movements. As with any chart, you can add in trend lines to help smooth out the minor fluctuations and allow you to see the bigger picture. Of course, charting is a lot more complicated than mere trend lines but there are software programs out there that will help with your chart analysis. Once you get deeper into charts, the other main technical Forex trading method is the use of Quantitative Trading Models. These use math to analyze the markets and identify opportunites for trading. Technical trading uses past data to endeavor to predict future movements in the market.
Fundamental Forex trading involves the analysis of things such as key economic data. This includes reports from governments, current event news coverage and any other data that the fundamental analyst considers useful. Fundamentalists consider that currency movements are mainly affected by economic and political conditions and events. Whilst central banks have been known to get involved in the currency markets, this has become less common in recent years. Fundamentalist Forex trading looks at interest rates, inflation figures, balance of trade figures, Gross Domestic Product, retail price indexes, producer price indexes amongst other factors.
You need to decide which of these two trading styles fits best with your own personal style as well as the amount of time you have available for analysis and any help that you can get from computer programs.
Internet Forex Business Flourishes
Internet Forex Business Flourishes
With convenience and ease of online business management, more and more forms of industries have now begun to flourish all over the internet. One of the exclusive benefits of internet marketing is that we can now reach the international market at a very low cost. Numerous online business people have gone from developing their part-time, small scale, extra income businesses to maintaining their online empires as major internet tycoons all from the comforts of their own homes, with no one but themselves to answer to as their bosses. With entrepreneurs seeing this as a major business opportunity, the forex industry boom has now made its way online, making it one of the fastest growing businesses to date.
Everyone loves to shop. The desire to purchase exotic items, explore foreign products, and buy from various cultures is all due to the overwhelming urge to enjoy. With international trade transactions increasing by a large percentage every year, forex has grown to be a major economic factor in numerous countries all over the globe. Forex has developed into a widely accepted form of world business activity. This development in forex has made the currency trading business one of the largest online industries to thrive in its wake.
Regardless of the competition against billion-dollar transnational trading companies the world over, small-scale private forex traders have started to mushroom all over the internet, slowly giving these large-scale multinational companies a run for their money since most entrepreneurs managing their own forex trades get their kin and friends to do business with them instead of with major trading companies. Colleagues and family members are only too eager to help out a friend or relative with their businesses, especially since cost and quality from both big and small traders rarely vary anyway. There’s also the optional chance that friends and next-of-kin may avail themselves of trading MLM business oportunities when procuring services from someone they know.
These data are the foundation on which most internet businesses are based on. The concept of a steady income from loyal customers is sufficient reason to startup a stable business. And with how an online forex business is easy enough to start due to the comparatively low cost of founding an internet enterprise, more and more of them are created by the day. The international market reach of a website is also generally appealing to entrepreneurs everywhere, since there are billions of potential customers online who may be seeking cheap, wholesale trading rates, so trading professionals are not just restricted to catering to just the people in their surroundings.
Trading entrepreneurs are also treated to a number of privileges such as financial freedom, time management to enjoy their own private affairs with friends, family, and private leisure, being their own bosses, trading profits, and the ability to manage their businesses from the comforts of their own home – or anywhere else, for that matter. It’s these privileges that most online professionals generally find appealing, giving everyone a great home-based business opportunity to provide their services to an international market, all with a fair and convenient setup.
With convenience and ease of online business management, more and more forms of industries have now begun to flourish all over the internet. One of the exclusive benefits of internet marketing is that we can now reach the international market at a very low cost. Numerous online business people have gone from developing their part-time, small scale, extra income businesses to maintaining their online empires as major internet tycoons all from the comforts of their own homes, with no one but themselves to answer to as their bosses. With entrepreneurs seeing this as a major business opportunity, the forex industry boom has now made its way online, making it one of the fastest growing businesses to date.
Everyone loves to shop. The desire to purchase exotic items, explore foreign products, and buy from various cultures is all due to the overwhelming urge to enjoy. With international trade transactions increasing by a large percentage every year, forex has grown to be a major economic factor in numerous countries all over the globe. Forex has developed into a widely accepted form of world business activity. This development in forex has made the currency trading business one of the largest online industries to thrive in its wake.
Regardless of the competition against billion-dollar transnational trading companies the world over, small-scale private forex traders have started to mushroom all over the internet, slowly giving these large-scale multinational companies a run for their money since most entrepreneurs managing their own forex trades get their kin and friends to do business with them instead of with major trading companies. Colleagues and family members are only too eager to help out a friend or relative with their businesses, especially since cost and quality from both big and small traders rarely vary anyway. There’s also the optional chance that friends and next-of-kin may avail themselves of trading MLM business oportunities when procuring services from someone they know.
These data are the foundation on which most internet businesses are based on. The concept of a steady income from loyal customers is sufficient reason to startup a stable business. And with how an online forex business is easy enough to start due to the comparatively low cost of founding an internet enterprise, more and more of them are created by the day. The international market reach of a website is also generally appealing to entrepreneurs everywhere, since there are billions of potential customers online who may be seeking cheap, wholesale trading rates, so trading professionals are not just restricted to catering to just the people in their surroundings.
Trading entrepreneurs are also treated to a number of privileges such as financial freedom, time management to enjoy their own private affairs with friends, family, and private leisure, being their own bosses, trading profits, and the ability to manage their businesses from the comforts of their own home – or anywhere else, for that matter. It’s these privileges that most online professionals generally find appealing, giving everyone a great home-based business opportunity to provide their services to an international market, all with a fair and convenient setup.
Why Forex Business Is Perfect For You ??
Why Forex Business Is Perfect For You ??
Are you looking for a business opportunity that will perfectly suit you? Consider this: you need to earn money but you need to give quality time to your family. You just find your job unsuitable for your interest and lifestyle. You may actually know it by now but you have not realized it yet-there is a very good business opportunity waiting for you! This opportunity comes in a package where no one cannot resist.
This business has a daily volume of two trillion dollars. And you can take part of it. You can definitely earn a lot of extra money in forex business. To succeed in this kind of business is very simple. You should know the ropes in forex business and you can make money in no time.
An optional affiliate-enhanced forex business definitely works if you have a big network of people meaning, your family, friends, neighbors, and acquaintances. This optional kind of scheme is much similar with MLM (multi-level marketing) or network marketing. As you generate sales from every forex service purchased, you are getting your forex networking commissions. This is very easy as you have many services such as placing trades, financial portfolio modeling, a debt reduction plan, MLM and much more. You can really earn at this when you get profitable trades and a booming network of associates!
Just by telling your immediate contacts about your forex business, they can bring the news to their other friends, extending your network of contacts. If you give them satisfactory services and trading training, you will undoubtedly hit those forex MLM commissions every time they opt in to any forex services provided.
Forex business is a home-based business where you can get free from:
A nagging boss you can actually be your own boss. You get to manage your own time, your own task, and your own business!
A time constraining work no time pressure when you engage in this kind of home-based business.
No time for kids you can definitely have bonding time with your kids as you can attend to their needs when you are at home.
Job insecurity with forex business, you are guaranteed availability to a proven system that has worked successfully for thousands of ordinary people, giving you the prospect of earning extra cash to help you pay those bills!
and a lot more…
Start earning extra, extra cash now just by using these powerful tools to succeed fast and easy:
1. Internet. You can connect with your customers faster with the use of internet. Internet is there to make life easier so take advantage of it!
2. Forex. Everyone needs to purchase foreign procucts from time to time and that is why currency trading is indispensable to the world economy. If you are giving them good forex trading services, then you will be the one they will definitely contact whenever they need forex services!
3. Home-based business. This kind of business is perfect for you as you get a lot of advantages when working at home.
Are you looking for a business opportunity that will perfectly suit you? Consider this: you need to earn money but you need to give quality time to your family. You just find your job unsuitable for your interest and lifestyle. You may actually know it by now but you have not realized it yet-there is a very good business opportunity waiting for you! This opportunity comes in a package where no one cannot resist.
This business has a daily volume of two trillion dollars. And you can take part of it. You can definitely earn a lot of extra money in forex business. To succeed in this kind of business is very simple. You should know the ropes in forex business and you can make money in no time.
An optional affiliate-enhanced forex business definitely works if you have a big network of people meaning, your family, friends, neighbors, and acquaintances. This optional kind of scheme is much similar with MLM (multi-level marketing) or network marketing. As you generate sales from every forex service purchased, you are getting your forex networking commissions. This is very easy as you have many services such as placing trades, financial portfolio modeling, a debt reduction plan, MLM and much more. You can really earn at this when you get profitable trades and a booming network of associates!
Just by telling your immediate contacts about your forex business, they can bring the news to their other friends, extending your network of contacts. If you give them satisfactory services and trading training, you will undoubtedly hit those forex MLM commissions every time they opt in to any forex services provided.
Forex business is a home-based business where you can get free from:
A nagging boss you can actually be your own boss. You get to manage your own time, your own task, and your own business!
A time constraining work no time pressure when you engage in this kind of home-based business.
No time for kids you can definitely have bonding time with your kids as you can attend to their needs when you are at home.
Job insecurity with forex business, you are guaranteed availability to a proven system that has worked successfully for thousands of ordinary people, giving you the prospect of earning extra cash to help you pay those bills!
and a lot more…
Start earning extra, extra cash now just by using these powerful tools to succeed fast and easy:
1. Internet. You can connect with your customers faster with the use of internet. Internet is there to make life easier so take advantage of it!
2. Forex. Everyone needs to purchase foreign procucts from time to time and that is why currency trading is indispensable to the world economy. If you are giving them good forex trading services, then you will be the one they will definitely contact whenever they need forex services!
3. Home-based business. This kind of business is perfect for you as you get a lot of advantages when working at home.
Forex Business School Partner
Forex Business School Partner
The Forex Business School, an online learning service, provides currency traders with the essential know-how to become successful in their foreign exchange ventures.
Merrimac, MA: For currency traders, the road to riches runs through the Forex Business School, which equips them with the skills they need to strike it big in the foreign-exchange markets.
“Foreign exchange is a highly volatile field, and without the right techniques and strategies, traders can get seriously burned,” says Joel Jeannite of Forex Business School. “At FBS, we not only ensure that you don’t get burned but also that you walk away smiling, with a profit in your pocket.” Each lesson is divided into easy-to-learn modules that are specific to particular learning objectives. Students have direct access to reference and communication materials, help and support, and sections for private folders, notes, transcripts, and certificates of completion. For experienced traders, supplemental resources offer advanced topics and more in-depth coverage of all concepts presented in the core course.
“Whether we are assisting beginner traders with essential foundation-level knowledge or providing valuable review courses for the more experienced, FBS helps our students achieve their goals,” says Jeannite. “We make the best use of emerging e-learning technologies that will enhance and enrich all aspects of the academic environment at Forex Business School.”
The Forex Business School, an online learning service, provides currency traders with the essential know-how to become successful in their foreign exchange ventures.
Merrimac, MA: For currency traders, the road to riches runs through the Forex Business School, which equips them with the skills they need to strike it big in the foreign-exchange markets.
“Foreign exchange is a highly volatile field, and without the right techniques and strategies, traders can get seriously burned,” says Joel Jeannite of Forex Business School. “At FBS, we not only ensure that you don’t get burned but also that you walk away smiling, with a profit in your pocket.” Each lesson is divided into easy-to-learn modules that are specific to particular learning objectives. Students have direct access to reference and communication materials, help and support, and sections for private folders, notes, transcripts, and certificates of completion. For experienced traders, supplemental resources offer advanced topics and more in-depth coverage of all concepts presented in the core course.
“Whether we are assisting beginner traders with essential foundation-level knowledge or providing valuable review courses for the more experienced, FBS helps our students achieve their goals,” says Jeannite. “We make the best use of emerging e-learning technologies that will enhance and enrich all aspects of the academic environment at Forex Business School.”
The Scope Of Forex Trading
The Scope Of Forex Trading
There are a lot of advantages in Forex Trading as compared to many other financial tradings, like futures or stock trading. The forex market is open 24 hour a day.
Being the market available 24 hours a day, this gives the investors freedom to choose which time they would like to trade. It only requires minimum beginning capital to start Forex day trading than beginning a trade in stocks.
This can help novice investors to begin their trading business in small amount of currency. First, beginning investors only need to focus on a few main currencies, rather than on many thousands of stocks.
Furthermore, Forex day trading has outstanding liquidity. We can say, today, that the Forex exchange market is the biggest financial market in the world of trading. It lends itself to an outcome of narrow spreads and fair prices.
The stock liquidity is cut after the regular hours of trading. But the Forex exchange market does not have this kind of problem, since Forex market never closes. Not only is the Forex market always accessible, it is also coupled with global trading, because of the instant exit, and entries being done electronically.
In doing Forex day trading, the investors have the liberty of choosing their most feasible time to do the trade, as the Forex market is open round the clock. The greatest liquidity of the Forex market is combined with a 24 hour market that is traded about 5 � days a week. You can do Forex trading whenever you want to.
The Forex market goes with the sun as it goes around the world. It jumps from one major bank to another major financial center, first from the United States it will go to Australia, to New Zealand and to the Far East and then it will travel to Europe and back to the United States again.
There is no doubt that Forex day trading is the biggest financial market there is today. There are no limitations to sell short currencies, unlike in stocks and bonds. This can simply means that you can make easy money from the rising and falling of currencies in markets.
From all the points that are mentioned above, and the benefits that Forex Day trading offers (in regard to flexibility), it is indeed one of the most moneymaking business mediums available to us, in this day and age.
After familiarizing yourself with how the Forex market works, you will be able to cope with the trading business. Nevertheless, having learned the Forex market does not guarantee that you won't go broke. All business has its downside.
To avoid falling off the Forex day trading wagon, there are Forex brokers that can aid new investors, and a 24-Hour hotline for your trading assistance.
There are a lot of advantages in Forex Trading as compared to many other financial tradings, like futures or stock trading. The forex market is open 24 hour a day.
Being the market available 24 hours a day, this gives the investors freedom to choose which time they would like to trade. It only requires minimum beginning capital to start Forex day trading than beginning a trade in stocks.
This can help novice investors to begin their trading business in small amount of currency. First, beginning investors only need to focus on a few main currencies, rather than on many thousands of stocks.
Furthermore, Forex day trading has outstanding liquidity. We can say, today, that the Forex exchange market is the biggest financial market in the world of trading. It lends itself to an outcome of narrow spreads and fair prices.
The stock liquidity is cut after the regular hours of trading. But the Forex exchange market does not have this kind of problem, since Forex market never closes. Not only is the Forex market always accessible, it is also coupled with global trading, because of the instant exit, and entries being done electronically.
In doing Forex day trading, the investors have the liberty of choosing their most feasible time to do the trade, as the Forex market is open round the clock. The greatest liquidity of the Forex market is combined with a 24 hour market that is traded about 5 � days a week. You can do Forex trading whenever you want to.
The Forex market goes with the sun as it goes around the world. It jumps from one major bank to another major financial center, first from the United States it will go to Australia, to New Zealand and to the Far East and then it will travel to Europe and back to the United States again.
There is no doubt that Forex day trading is the biggest financial market there is today. There are no limitations to sell short currencies, unlike in stocks and bonds. This can simply means that you can make easy money from the rising and falling of currencies in markets.
From all the points that are mentioned above, and the benefits that Forex Day trading offers (in regard to flexibility), it is indeed one of the most moneymaking business mediums available to us, in this day and age.
After familiarizing yourself with how the Forex market works, you will be able to cope with the trading business. Nevertheless, having learned the Forex market does not guarantee that you won't go broke. All business has its downside.
To avoid falling off the Forex day trading wagon, there are Forex brokers that can aid new investors, and a 24-Hour hotline for your trading assistance.
Range & Scope of Forex Trading
The Range and Scope of Forex Day Trading
Forex day trading is attributed with many benefits compared to stocks or futures trading. The investment in currency trading offers so much more advantages. The fact that it has no specific physical location enables investors to hook up with the market at any time of the day wherever they may be. It is open 24 hours a day and about five days a week. You are given the option when to transact your trading business. In addition, foreign exchange day trading does not demand extremely high capital. A few thousands will do the job. Compared to the stock market which is inundated by countless stocks to choose from, the forex market only has a couple major currencies to deal with.
You can truly experience and feel how independent you are of other inessential aspects in trading. You don't have to worry about other unnecessary issues so you can concentrate on trading itself. You are your own boss. Notwithstanding the volatility of its nature, most outcomes still depend on you and the decisions you make.
Forex day trading is attributed with many benefits compared to stocks or futures trading. The investment in currency trading offers so much more advantages. The fact that it has no specific physical location enables investors to hook up with the market at any time of the day wherever they may be. It is open 24 hours a day and about five days a week. You are given the option when to transact your trading business. In addition, foreign exchange day trading does not demand extremely high capital. A few thousands will do the job. Compared to the stock market which is inundated by countless stocks to choose from, the forex market only has a couple major currencies to deal with.
You can truly experience and feel how independent you are of other inessential aspects in trading. You don't have to worry about other unnecessary issues so you can concentrate on trading itself. You are your own boss. Notwithstanding the volatility of its nature, most outcomes still depend on you and the decisions you make.
Forex Trading
Forex Trading
Forex trading or foreign exchange currency trading involves selling one currency to buy another. Some of the most commonly traded currency pairs are USD-CHF (US Dollar / Swiss Franc), EUR-USD (Euro / US Dollar), USD-JPY (US Dollar / Japan Yen), and GBP-USD (British Pound / US Dollar).
trade are New York, London, Frankfurt, Tokyo, and Sydney. They are located in different time zones due to which the forex trade functions 24 hours a day.
There is no central exchange or location where the trading is conducted, and most trades are executed between two interested parties who use the phone or other electronic means to communicate.
The main market for forex currency trading is the inter-bank market, in which banks, insurance companies, corporations and other large institutions trade to manage the risks associated with fluctuations in foreign exchange rates.
The forex market is by far the safest trading market in the world. There are no corporate board rooms, CEO's, company directors or any one else that can take sensitive corporate information and pass it on to someone who could take part in Insider Trading. There is no way for that to happen in the Forex Markets.
Individual forex traders can trade in the over-the-counter (OTC) market, which does not have any exchange or clearing house, and has limited regulation. Individuals can also trade in forex futures and options at a regulated exchange like the Chicago Mercantile Exchange.
Currency traders are no longer the preserve of large institutions. Anyone can learn how to trade forex, and do it from anywhere. Individuals can trade in the forex market from their homes by means of a high speed Internet connection.
To be successful, it is essential to have access to up to date information about the latest changes and trends in the forex market. You can sign up to get a forex trade signal via e-mail, SMS, or through software installed on your desktop.
Learn Forex Candlestick Charts
Learn Forex Candlestick Charts
Candlestick charts are one of those charts which are categorized as oldest types. Candlestick charts are used for price predictions in history. In 1700s, these candle stick charts were used for rice price prediction.
The forex candlestick charts are similar to the bar chart. While learning of forex candlestick charts is not as easy as bar charts, they give you more concise and detailed information about what is actually going on. It does not only provide highs and lows for an entry, but the opening and closing prices as well.
Candlesticks are usually consisting of the body (white/green or black/red), an upper and a lower shadow. These shadows indicate the highest and lowest currency traded prices. Colors of the body show the bullish or downfall trends.
If the body is green, it means closing price is higher than opening price. On the other side, if the body is red, it means closing price is lower than opening price.
If you detect a red candlestick, it can be considered to be taken as a warning about the way the currency price is going on. The very peak of a candles stick is the highest price for that specific candle while the bottom of the stick is the lowest price for that particular candle.
Biggest advantage that learning of Forex candlestick charts may provide is when you only take a quick view; you will notice a lot of information about the movements in an online Forex currency. You become aware of the difference between the open and close prices of the online Forex.
Once you have learned forex candle stick charts, you would be able to save a lot of your time that you used to consume in reading news papers for the details of trends of prices.
Candlestick charts are one of those charts which are categorized as oldest types. Candlestick charts are used for price predictions in history. In 1700s, these candle stick charts were used for rice price prediction.
The forex candlestick charts are similar to the bar chart. While learning of forex candlestick charts is not as easy as bar charts, they give you more concise and detailed information about what is actually going on. It does not only provide highs and lows for an entry, but the opening and closing prices as well.
Candlesticks are usually consisting of the body (white/green or black/red), an upper and a lower shadow. These shadows indicate the highest and lowest currency traded prices. Colors of the body show the bullish or downfall trends.
If the body is green, it means closing price is higher than opening price. On the other side, if the body is red, it means closing price is lower than opening price.
If you detect a red candlestick, it can be considered to be taken as a warning about the way the currency price is going on. The very peak of a candles stick is the highest price for that specific candle while the bottom of the stick is the lowest price for that particular candle.
Biggest advantage that learning of Forex candlestick charts may provide is when you only take a quick view; you will notice a lot of information about the movements in an online Forex currency. You become aware of the difference between the open and close prices of the online Forex.
Once you have learned forex candle stick charts, you would be able to save a lot of your time that you used to consume in reading news papers for the details of trends of prices.
Monday, July 5, 2010
The overbought September euro fell in the Far East after climbing to a one ½-month high on Friday. The short-term outlook is bearish. The medium-term outlook is sideways. My model is long.
CME Group’s CoT: The short EUR positions increased by -2,696 contracts to -73,670 contracts.
Immediate support is at 1.2477. Further support is seen at 1.2402. The 21-day moving average follows at 1.2356.
Initial resistance is 1.2555. Further resistance is at 1.2585 from the 55-day moving average. A pivot high is at 1.2684.
INDICATORS
Fast stochastics: Bullish
MACD: Bullish
Ichimoku: Bearish
OUTLOOK
NEAR-TERM: Bearish
MEDIUM-TERM: Slightly bullish?
LONG-TERM: Bearish
The financial markets are in full mode of adversity to risk
The financial markets are in full mode of adversity to risk, with the European and commodity currencies down and the yen up, and with the Asia/Pacific stock markets down and the gold/oil spread up. Of course, the DJI is in a head-and-shoulders, failing during the second half of last week to bounce on profit taking. The US non-arm payrolls came as bad as expected during the last month of fake growth from the temporary Census jobs.
The short-term outlook is slightly bullish for the European and commodity currencies and slightly bearish for the yen. The medium-term outlook is sideways for most of the foreign currencies futures. My model is short the commodity currencies and long the European currencies and the yen.
This analysis is based on my books, as follows:
“Trading in the Global Currency Markets” - Prentice Hall Press, 3rd edition 2007
“Technical Analysis Applications” - McGraw-Hill, 2004
Overnight:
- US: Non-farm payrolls employment fell by 125,000 jobs in June following an upwardly revised increase of 433,000 jobs in May. The unemployment rate fell to 9.5% in June from 9.7% in May, as people gave up looking for work and left the labor force.
- US: Factory orders fell by 1.4% in May following a downwardly revised 1.0% increase in April.
- Australia: AiG Performance of Service Index rose to 48.8 in June from 47.5 in May.
- Australia: The Reserve Bank of Australia will conclude its monetary policy meeting and hold at the current level of 4.50%.
- Japan: The Nomura services PMI fell to 47.1 in June from 47.5 in May.
- China: The capital account balance was revised to show a surplus of US$64.2 billion in the first quarter from US$55 billion.
- Eurozone: PMI composite fell to a three-month low of 56 in June from 56.4 in May. The services PMI fell to a three-month low of 55.5 in June from 56.2 in May.
- Eurozone: Retail sales rose 0.2% in May following the revised April's decline of 0.9% from -1.2% initially reported.
- Switzerland: Retail sales grew 1.3% in May following a 1.5% rise in April.
- UK: The CIPS services PMI fell to a seasonally adjusted 54.4 in June from 55.4 in May.
- US: No data
- Canada: No data
:: Forex Charts
Forex charts assist the investor by providing a visual representation of exchange rate fluctuations. Many variables affect currency exchange rates, such as interest rates, bank policies, geopolitics, and even the time of day may affect exchange rates.
In order to help the investor attempt to predict when or in what direction a rate may change, advisors provide forex charts. Quality forex websites provide subscribers with a daily newsletter that includes a forex chart, forex signals and a forex forecast.
There are a variety of forex charts available for the investor to use and study. Some are very simple using only a couple of forex signals or indicators and are ideal for beginners. Others include 30 or 40 forex signals or indicators and live on-line streaming data so that the investor may analyze trades quickly and accurately.
In order to make an accurate forex forecast, it would seem that the more indicators, the better, but some analysts prefer a simpler system.
The idea behind studying forex charts is that history repeats itself. Instead of trying to “see the future”, a forex forecast evaluates the past. That is to say that the analyst who is responsible for attempting to predict future currency moves analyzes what happened to an exchange rate yesterday, last week, last month or last year and uses this knowledge to the best degree he knows how.
Some people trade short term, some intermediate term, and some long term. All three types of traders may benefit from the use of forex charts, just adapted to their own trading time frame.
Investors also create their own forex charts to evaluate their own performance. Creating a forex strategy for oneself is the goal of many investors. Instead of looking to a professional to analyze forex signals, these investors choose to create their own forex forecast.
Others, however, create their own strategy but also follow the opinions of professional currency traders at the same time. It all depends on your personal preferences.
There are other forex charts that deal with known correlations between two currency pairs, that is, how they move in relation to each other. Some exchange rates are known to affect other exchange rates, either by moving in the same or the opposite direction depending on the correlation.
Charts are available that explain these correlations in detail and show which pairs have strong correlations or strong negative correlations, so that an investor can use the movement of the exchange rate of one currency as a signal to trade another currency. These correlations are also the basis for some forex forecasts.
It can be difficult and overwhelming to enter the world of forex trading alone. Experts recommend education, practice with a demo account and advice from a reputable broker who is backed by a quality institution. Learning to read forex charts and evaluate forex signals is a skill that comes with time, skills that are essential when an accurate forex forecast is the the goal.
In order to help the investor attempt to predict when or in what direction a rate may change, advisors provide forex charts. Quality forex websites provide subscribers with a daily newsletter that includes a forex chart, forex signals and a forex forecast.
There are a variety of forex charts available for the investor to use and study. Some are very simple using only a couple of forex signals or indicators and are ideal for beginners. Others include 30 or 40 forex signals or indicators and live on-line streaming data so that the investor may analyze trades quickly and accurately.
In order to make an accurate forex forecast, it would seem that the more indicators, the better, but some analysts prefer a simpler system.
The idea behind studying forex charts is that history repeats itself. Instead of trying to “see the future”, a forex forecast evaluates the past. That is to say that the analyst who is responsible for attempting to predict future currency moves analyzes what happened to an exchange rate yesterday, last week, last month or last year and uses this knowledge to the best degree he knows how.
Some people trade short term, some intermediate term, and some long term. All three types of traders may benefit from the use of forex charts, just adapted to their own trading time frame.
Investors also create their own forex charts to evaluate their own performance. Creating a forex strategy for oneself is the goal of many investors. Instead of looking to a professional to analyze forex signals, these investors choose to create their own forex forecast.
Others, however, create their own strategy but also follow the opinions of professional currency traders at the same time. It all depends on your personal preferences.
There are other forex charts that deal with known correlations between two currency pairs, that is, how they move in relation to each other. Some exchange rates are known to affect other exchange rates, either by moving in the same or the opposite direction depending on the correlation.
Charts are available that explain these correlations in detail and show which pairs have strong correlations or strong negative correlations, so that an investor can use the movement of the exchange rate of one currency as a signal to trade another currency. These correlations are also the basis for some forex forecasts.
It can be difficult and overwhelming to enter the world of forex trading alone. Experts recommend education, practice with a demo account and advice from a reputable broker who is backed by a quality institution. Learning to read forex charts and evaluate forex signals is a skill that comes with time, skills that are essential when an accurate forex forecast is the the goal.
Subscribe to:
Posts (Atom)