Since 1996, when retail forex trading was introduced, several brokers who lacked the sufficient tools developed their own trading platforms tailored specifically to their needs. These platforms were good enough at the time but required constant investments in R&D and its development cost too much. This was the first wave.
The second wave was in the early 2000s: several software companies entered the retail forex trading market by launching their own versions of trading platforms. Typically these versions were cumbersome for both front-end users (retail traders) and back-end users (retail brokers) due to the misunderstanding of the developers about the forex market and also because of the insufficient programming tools/languages at the time. Simultaneously most of the retail brokers kept using and developing their own systems as they waited for better platforms which were yet to be developed.
There are currently few to no brokers which were part of the first wave trading systems. By now most of the first wave brokers have either vanished, merged or progressed to the second wave trading platforms – the most common example of which is Metaquotes.
Tuesday, November 17, 2009
Forex Banks
Forex Bank
Forex AB is a Swedish financial services company. The company was started in 1927 as a currency exchange service for travellers, at the Central Station in Stockholm. The owner of Gyllenspet's Barber Shop, according to the legend, discovered that most of his customers were tourists in need of currency for their trips. The owner began keeping the major currencies on hand.
The company was subsequently acquired by Statens Järnvägar (now SJ AB), the Swedish State Railways, which expanded the operations until it was sold off to one of the managers, Rolf Friberg, in 1965. The company was the only one apart from the banks that was licensed to conduct currency exchange in Sweden.
The company, which is still wholly owned by the Friberg family, has expanded into Denmark, Finland, Norway and Iceland and has over 60 shops, usually located at train stations or airports. The decrease in the business brought on by introduction of the euro has made the company look for alternative sources of revenue, like applying for a banking licence and attempting to move into more regular transaction services, earlier handled by Svensk Kassaservice, a subsidiary of the state owned Swedish postal company
Forex AB is a Swedish financial services company. The company was started in 1927 as a currency exchange service for travellers, at the Central Station in Stockholm. The owner of Gyllenspet's Barber Shop, according to the legend, discovered that most of his customers were tourists in need of currency for their trips. The owner began keeping the major currencies on hand.
The company was subsequently acquired by Statens Järnvägar (now SJ AB), the Swedish State Railways, which expanded the operations until it was sold off to one of the managers, Rolf Friberg, in 1965. The company was the only one apart from the banks that was licensed to conduct currency exchange in Sweden.
The company, which is still wholly owned by the Friberg family, has expanded into Denmark, Finland, Norway and Iceland and has over 60 shops, usually located at train stations or airports. The decrease in the business brought on by introduction of the euro has made the company look for alternative sources of revenue, like applying for a banking licence and attempting to move into more regular transaction services, earlier handled by Svensk Kassaservice, a subsidiary of the state owned Swedish postal company
Exchange rate regime
Exchange rate regime
The exchange rate regime is the way a country manages its currency in respect to foreign currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors.
The basic types are a floating exchange rate, where the market dictates the movements of the exchange rate, a pegged float, where the central bank keeps the rate from deviating too far from a target band or value, and the fixed exchange rate, which ties the currency to another currency, mostly more widespread currencies such as the U.S. dollar or the euro.
The exchange rate regime is the way a country manages its currency in respect to foreign currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors.
The basic types are a floating exchange rate, where the market dictates the movements of the exchange rate, a pegged float, where the central bank keeps the rate from deviating too far from a target band or value, and the fixed exchange rate, which ties the currency to another currency, mostly more widespread currencies such as the U.S. dollar or the euro.
foreign exchange market
foreign exchange market (currency, forex, or FX) trades currencies. It lets banks and other institutions easily buy and sell currencies. [1]
The purpose of the foreign exchange market is to help international trade and investment. A foreign exchange market helps businesses convert one currency to another. For example, it permits a U.S. business to import European goods and pay Euros, even though the business's income is in U.S. dollars.
In a typical foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market started forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
The purpose of the foreign exchange market is to help international trade and investment. A foreign exchange market helps businesses convert one currency to another. For example, it permits a U.S. business to import European goods and pay Euros, even though the business's income is in U.S. dollars.
In a typical foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market started forming during the 1970s when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
Sunday, November 1, 2009
What are the benefits of forex trading
What are the benefits of forex trading
Two way opportunities, that means you can earn profit from upward or downward price movement. For example if you buy (go long) and the price moving upward, you will be in profit. and the otherway, if you if you sell (go short) and the price moving downward, you will be in profit Extreme liquidity of the market. Forex is the most liquid market in the world, and that means you can buy or sell anytime you want Long trading hours, Forex allows you to trade 24 hours a day and 5 days a week (except on weekends). Leverage to amplify your profit, you can use a relative small quantity to trade bigger amount (usually from 1:50 up to 1:500) for example you have $100, without leverage your profit is only $0.01 but with 1:100 leverage your profit will be $1. (leverage makes your profit 100 times bigger, this also applies to loss). Free of comission, Relative Low Spread Cost, usually online forex brokers offer you comission free trading, no brokerage fee, no exchange fee, and smaller trading transaction cost. Flexible Trading Lots, you can trade rather standard lot (100K), mini lot (10K), or even micro lot (1K)
Two way opportunities, that means you can earn profit from upward or downward price movement. For example if you buy (go long) and the price moving upward, you will be in profit. and the otherway, if you if you sell (go short) and the price moving downward, you will be in profit Extreme liquidity of the market. Forex is the most liquid market in the world, and that means you can buy or sell anytime you want Long trading hours, Forex allows you to trade 24 hours a day and 5 days a week (except on weekends). Leverage to amplify your profit, you can use a relative small quantity to trade bigger amount (usually from 1:50 up to 1:500) for example you have $100, without leverage your profit is only $0.01 but with 1:100 leverage your profit will be $1. (leverage makes your profit 100 times bigger, this also applies to loss). Free of comission, Relative Low Spread Cost, usually online forex brokers offer you comission free trading, no brokerage fee, no exchange fee, and smaller trading transaction cost. Flexible Trading Lots, you can trade rather standard lot (100K), mini lot (10K), or even micro lot (1K)
When is the time to trade forex ?
When is the time to trade forex ?
Forex can be traded 24 hours a day and 5 days a week. The main trading centers are in London, New York, Tokyo, and Singapore, but banks throughout the world participate. The biggest foreign exchange trading centre is London, followed by New York and Tokyo. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the US session and then back to the Asian session, excluding weekends
Forex can be traded 24 hours a day and 5 days a week. The main trading centers are in London, New York, Tokyo, and Singapore, but banks throughout the world participate. The biggest foreign exchange trading centre is London, followed by New York and Tokyo. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the US session and then back to the Asian session, excluding weekends
What is Forex Trading
What is Forex Trading
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex markets currently exceeds US$ 2 trillion. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks What is traded in Forex Trading ? The answer is Currency. Currencies are always traded in pairs, such as EUR/USD, GBP/USD, etc. Why ? Because when you trade forex, you are exchanging 1 currency to another currency simultaneously (buying 1 currency and selling the other at the same instance). You will gain from differences of traded currency price rates.
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex markets currently exceeds US$ 2 trillion. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks What is traded in Forex Trading ? The answer is Currency. Currencies are always traded in pairs, such as EUR/USD, GBP/USD, etc. Why ? Because when you trade forex, you are exchanging 1 currency to another currency simultaneously (buying 1 currency and selling the other at the same instance). You will gain from differences of traded currency price rates.
Forex Confidante Review
Forex Confidante Review
Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante Review Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante Review Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
Forex Market
Forex Market
Foreign exchange is the trading of currencies on the forex markets around the world. Most people may be familiar with the other financial markets in the world: The stock market, the bond market maybe even The Commodities Market, but fewer people actually know that these markets are dwarfed by the ...
This article will look at the foreign exchange currency trading basics. Forex is an abbreviation of Foreign Exchange and foreign exchange currency trading is the act of trading currencies on the forex market. As there is no physical market for forex, akin to the stock exchange, the forex market only ...
Foreign exchange is the trading of currencies on the forex markets around the world. Most people may be familiar with the other financial markets in the world: The stock market, the bond market maybe even The Commodities Market, but fewer people actually know that these markets are dwarfed by the ...
This article will look at the foreign exchange currency trading basics. Forex is an abbreviation of Foreign Exchange and foreign exchange currency trading is the act of trading currencies on the forex market. As there is no physical market for forex, akin to the stock exchange, the forex market only ...
Forex Confidante Review
Forex Confidante Review
Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante Review Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante Review Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ... Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
The History of the Forex Market
The History of the Forex Market
An overview into the historical evolution of the fo reign exchange market This article will follow the historical roots of the international currency trading from the days of the gold exchange, through the Bretton Woods Agreement, to its current setting. Forex, FX, or Foreign Exchange, is the simultaneous exchange of one country's currency for that of another. FOREXYARD offers leading online trading platforms for individuals that wish to speculate on the exchange rate between two currencies. In doing so, speculators purchase or sell one currency for another with the hope of making a profit when the value of the currencies changes in favor of the speculator as a result of events that takes place across the globe. This market of exchange has more daily volume - both buyers and sellers - than any other market in the world.
An overview into the historical evolution of the fo reign exchange market This article will follow the historical roots of the international currency trading from the days of the gold exchange, through the Bretton Woods Agreement, to its current setting. Forex, FX, or Foreign Exchange, is the simultaneous exchange of one country's currency for that of another. FOREXYARD offers leading online trading platforms for individuals that wish to speculate on the exchange rate between two currencies. In doing so, speculators purchase or sell one currency for another with the hope of making a profit when the value of the currencies changes in favor of the speculator as a result of events that takes place across the globe. This market of exchange has more daily volume - both buyers and sellers - than any other market in the world.
What are the benefits of forex trading
What are the benefits of forex trading
Two way opportunities, that means you can earn profit from upward or downward price movement. For example if you buy (go long) and the price moving upward, you will be in profit. and the otherway, if you if you sell (go short) and the price moving downward, you will be in profit Extreme liquidity of the market. Forex is the most liquid market in the world, and that means you can buy or sell anytime you want Long trading hours, Forex allows you to trade 24 hours a day and 5 days a week (except on weekends). Leverage to amplify your profit, you can use a relative small quantity to trade bigger amount (usually from 1:50 up to 1:500) for example you have $100, without leverage your profit is only $0.01 but with 1:100 leverage your profit will be $1. (leverage makes your profit 100 times bigger, this also applies to loss). Free of comission, Relative Low Spread Cost, usually online forex brokers offer you comission free trading, no brokerage fee, no exchange fee, and smaller trading transaction cost. Flexible Trading Lots, you can trade rather standard lot (100K), mini lot (10K), or even micro lot (1K)
Two way opportunities, that means you can earn profit from upward or downward price movement. For example if you buy (go long) and the price moving upward, you will be in profit. and the otherway, if you if you sell (go short) and the price moving downward, you will be in profit Extreme liquidity of the market. Forex is the most liquid market in the world, and that means you can buy or sell anytime you want Long trading hours, Forex allows you to trade 24 hours a day and 5 days a week (except on weekends). Leverage to amplify your profit, you can use a relative small quantity to trade bigger amount (usually from 1:50 up to 1:500) for example you have $100, without leverage your profit is only $0.01 but with 1:100 leverage your profit will be $1. (leverage makes your profit 100 times bigger, this also applies to loss). Free of comission, Relative Low Spread Cost, usually online forex brokers offer you comission free trading, no brokerage fee, no exchange fee, and smaller trading transaction cost. Flexible Trading Lots, you can trade rather standard lot (100K), mini lot (10K), or even micro lot (1K)
Forex Option Trading
Forex Option Trading
When most people think of trading currency they think of trading forex spots or currency pairs traded directly on the market. Not many people trade forex options, but they can actually be a very good method of either hedging your investment or outright speculating in them. An options is ...
Forex trading charts
Forex trading charts are an invaluable tool used by forex traders. The first thing you are going to notice when you fire up your trading platform will be those flashing numbers and graphs. These graphs are the bread and butter of forex trading. They will show you everything you need ...
When most people think of trading currency they think of trading forex spots or currency pairs traded directly on the market. Not many people trade forex options, but they can actually be a very good method of either hedging your investment or outright speculating in them. An options is ...
Forex trading charts
Forex trading charts are an invaluable tool used by forex traders. The first thing you are going to notice when you fire up your trading platform will be those flashing numbers and graphs. These graphs are the bread and butter of forex trading. They will show you everything you need ...
uk forex trading
uk forex trading
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
Todays Forex Trading
Todays Forex Trading
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
The euro trading off its highs of 1.4648/50 at 1.4620 at time of writing, the German ZEW figures lowering the single currency. Should Eurodollar drop below and hold 1.4580, expect a move back to 1.4560/65 ahead of the 38.2% fib ret level for the week at 1.4520. Resistance at 1.4620/25 ahead of 1.4650/60 (having now had three attempts over the last 24 hours). Favoring further downside pressure in early US trading, however, the US retail figures out later this afternoon the key for today’s direction.
The Yen is still being sold off against the dollar and the euro, however higher against the pound. Chinas trade war with the US the major influencing factor to Yen weakness over the last 24 hours. A plateauing seen at time of writing, now looking for direction at the US open. Support at 91 ahead of 90.90. Resistance at 91.30 (38.2% fib level) ahead of the 50% at 91.65 for the weeks trading.
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
The euro trading off its highs of 1.4648/50 at 1.4620 at time of writing, the German ZEW figures lowering the single currency. Should Eurodollar drop below and hold 1.4580, expect a move back to 1.4560/65 ahead of the 38.2% fib ret level for the week at 1.4520. Resistance at 1.4620/25 ahead of 1.4650/60 (having now had three attempts over the last 24 hours). Favoring further downside pressure in early US trading, however, the US retail figures out later this afternoon the key for today’s direction.
The Yen is still being sold off against the dollar and the euro, however higher against the pound. Chinas trade war with the US the major influencing factor to Yen weakness over the last 24 hours. A plateauing seen at time of writing, now looking for direction at the US open. Support at 91 ahead of 90.90. Resistance at 91.30 (38.2% fib level) ahead of the 50% at 91.65 for the weeks trading.
How to make money from forex trading
How to make money from forex trading?
When you do a forex trade, it means you buy a currency in exchange for another, hoping that the currency you bought will increase in value
When you do a forex trade, it means you buy a currency in exchange for another, hoping that the currency you bought will increase in value
When you do a forex trade, it means you buy a currency in exchange for another, hoping that the currency you bought will increase in value
When you do a forex trade, it means you buy a currency in exchange for another, hoping that the currency you bought will increase in value
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