Wednesday, April 29, 2009

EURUSD support 1.3191

The 100 bar MA on the 5 minute intraday chart comes in a the 1.3219 level. The MA has been leading the price higher with one brief exception for the day (the dip in the chart where the price moves…

Saturday, April 25, 2009

EURUSD moves through intraday support

The EURUSD fell through the 100 bar moving average at 1.3256 on the 5 minute chart for the first time since 1:00 PM yesterday (broke above at 1.3041). The next level of support will come in at the 1.3230 (38.2%…

Bank Stress details released


Wednesday, April 22, 2009


The euro is trying to break above minor resistance at $1.2944, the 61.8% Fibonacci retracement of March's advance. If successful, resistance around $1.30 and at $1.3095, the 50% Fibonacci retracement, will be in focus. Minor support still comes in at $1.2865, the Mar. 11 high, and around $1.2835, the Mar. 16 low

Friday, April 17, 2009


The European Central Bank chief Friday brushed aside the view that the euro is weak, while saying that he is "very appreciative" of U.S. policymakers sticking to their strong dollar policy.

Jean-Claude Trichet also signaled that the bank may announce extraordinary measures for financial institutions at its next monetary policy meeting on May 7.

At a seminar held in Tokyo during a visit to Japan, Trichet said the view that the euro is weak "doesn't really seem to reflect the present situation."

"When we started the euro," he said, "the euro-dollar (exchange rate) was at $1.17; at the moment I'm speaking, we are at around something like $1.31."

"That being said," Trichet continued, "I am very, I would say, appreciative, of what is said by our U.S. friends Ben Bernanke, Tim Geithner and Barack Obama that indeed a strong dollar is in the interest of the United States of America."

Commenting on monetary policy, Trichet said, "Be sure that what we will decide will fully take into account the financing structure of the euro area economy and will be fully in line with our medium-term strategy."

Most observers expect the ECB, which some critics say has been insufficiently aggressive in cutting interest rates, to take its key rate down at least another quarter percentage point to 1.00% at the May meeting.

While remaining mum on interest rate inclinations, Trichet said he expects the European economy to continue struggling in the near term.

"The year of 2009 is a very difficult year, that's absolutely clear," Trichet said, adding that the continent has, like Japan, been hit by an "acceleration of phenomena."

Recovery would likely come "in the course of 2010," he said, sparked in part by the benefits of the low price level for oil and commodities, which he called both "disinflationary and expansionary."

Addressing the possibility of further non-standard monetary measures, Trichet stressed the centrality banks would continue to play in the European context.

Compared to the U.S., with its mainly "market-based financial system," Trichet said, in Europe "banks play such a dominant role (in providing credit to companies and consumers) that non-standard measures need to be implemented - first and foremost - through intervention and with the active participat

Monday, April 13, 2009


The price has stalled at the level, but the dollar is finding pressure today across the board. On a break, the next target is 1.3335 where the high from Thursday and the 50% retracement of the move down from the 1.3581 high on April 6th to the April 10th low at 1.3092.

Wednesday, April 8, 2009

Forex Beginners Guide

Forex Beginners Guide - Learn How to Trade in Forex Market from the Basics

Today’s Forex trading is well known as a lucrative way to make money online. It became an essential part for investor’s portfolio as you can simply gain thousands in minutes by trading currencies at home. For those who are new to the trade, Forex means Foreign Exchange Market where it involves buying and selling the different currencies of the world. Profits are made through the difference of selling and buying price – you earn when you buy-low sell-high while lose when buy-high sell-low.

Forex is a true 24-hour market. The trade begins each day in Sydney, and moves around the globe to Tokyo, London, and then New York. Unlike any other financial market, investors can respond to money-value fluctuations caused by economic, social and political events at the time they occur - day or night. Major currencies traded nowadays are United States dollars, Australian Dollars, Japanese Yens, British Pounds, Swiss Francs, Canadian Dollars, and the Euro Dollars.

In the past, small speculators are not allowed to trade Forex freely as it is now. The minimum required business sizes are large and the financial requirements for trading foreign currencies are strict. Only huge multi national cooperation and banks are able to fit into the business. In fact, large international banks are still the remain as the main players in currency exchange market. Deutsche Bank is one of the top currency traders; along with other major banks like UBS, Citi Group, HSBC, Barclays, J. P. Morgan Chase, Coldman Sachs, ABN Amro, Morgan Stanley, and Merril Lynch; these banks are said to be responsible for more than 70% trades in currency market. Forex trade is not open to the publics until year 1998, where big sized inter-bank units are sliced into smaller pieces and offered to individual traders.

It is simple to get started in Forex trading, an funded Forex account and a computer connected to the Internet is more than enough to get you moving. However, to start trading and to earn in the trades are different. Trading Forex is a high risks game and traders should always follow certain principals, listed below are a few of must-do’s when trading in Forex market.

1. Educate yourself before trading in Forex market

As in any trading markets, building up your trading skills and knowledge is the very first step that you must take. Forex website might be a good spot to get started for Forex beginners. To further your learning in Forex trading, seminars, workshops, video tutorials, online learning, or even books are handful to help us learn from the professional. Learn to implement technical charting into your trades; learn using indicators to determine the right time to enter/exit the market; brush up your experience by trading with a demo account… all these are effective to ensure your smooth starts and it will definitely reduce your chances of losing money.

2. Having a trading plans

A good trading plan is much needed no matter you are a beginner or an expert in Forex trading. The Forex market itself is just a vehicle, to go to your desired destination, which is to gain profit and achieve financial freedom in our case, you have to drive your vehicle with maps and navigations. How much do you want to earn from the trades? How much you can afford to lose if things go wrong? What is the amount of capital you are putting in? Answer the questions to yourself when you are setting your trading plan. If you fail to plan, you are indeed plan to fail.

3. Mature mindsets and discipline trading

Trading Forex with discipline is important. Success in Forex trading could not be achieved by only plotting out the best trading plan. It is also depends on implementing the trading plan. Be discipline, trade according to your plan and never trade with your emotion no matter you are losing money or winning. Greed will stop you from taking profit at predetermined level; while fear will stop you from making the nice kill in the market.

Without a doubt, Forex is getting more and more popular. There are less restrictions in FOREX market. No limited market access, no liquidity issues-after market hours, zero commission fees, low capital requirements, and no restrictions on short selling. However, the risks in Forex trading should not be taken for granted. As you can always trade in margin, you might lose a lot more than you can afford if you don’t plan your investment wisely. Seminars, e-Books, Internet, papers, plus video courses are all you need first before getting involved in the market.

Teddy, writer and webmaster in financial investment. Learn Forex trading from scratch in his website at