Forex Trading Signals for 18th Feburary 2013

                                                                                
Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


BONANZA !!!   BONANZA !!!    BONANZA !!!    BONANZA !!! 

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SELL on the market: GBP/USD

SELL : 
Entry Point : 1.54867
Take Profit:   1.54500
Stop Loss:    1.55100

 2nd,,

BUY on GBP/USD : 

Entry Point : 1.55131
Take Profit:   1.55500
Stop Loss:    1.54800

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We will SELL on the market: EUR/USD
SELL: 
Entry Point : 1.33402

Take Profit:   1.33000
Stop Loss:    1.33702

2nd  Buy on the market,,,

BUY: 
Entry Point : 1.33562

Take Profit:   1.33900
Stop Loss:   1.33200

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OPEN A FOREX TRADING ACCOUNT AND WITHDRAW YOUR PROFIT INTO YOUR NIGERIAN BANK ACCOUNT (NAIRA ACCOUNT).

Wish you all a successful forex trading. Always remember to use your stop loss to avoid much loss on your trading account,,,

One Love Brothers

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HIGH RISK INVESTMENT WARNING: Trading foreign exchange, contracts for differences, or spread bets on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the forex market, you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. We provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. We recommends you seek advice from a separate financial advisor. 

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Forex: EUR/USD faces worsening technicals/fundametals

The G20 meeting turned out to be, as one would expect, uneventful on its false sense of being regarded as a potential currency shaker. The delivery of generalized statements prevailed as opposed to any aggressive rhetoric, mainly due to the diversity of self-interest policy views. Chances are that speculation about jawboning on currencies will now likely fade, with investors hopefully in search of other hopefully more meaningful drivers to set currency directions.

The G20 meeting, which had generated, in the eyes of Marc Chandler, a great deal of needless noise in the foreign exchange room - the low flow of other news is also a factor to over-emphasize what deserve little credit -, with the analyst describing the event like a librarian yelling "quiet"... "it may be more disruptive than the initial noise" he said. 

Recently, ECB's verbal interventions to downplay the 'currency war' story helped more than hurt the euro, thus if one is to follow such pattern, it is possible that the dissipation of further 'currency manipulation' comments may be a point that Euro bulls just scored on trying to reverse the short-term outlook on the pair. 

On the flip side, the outlook on the Euro zone has been hit in the eyes of speculators, and that ghost of poor fundamentals will still be very much present in the mind of FX traders. Last week's contraction in France and German economies is not something that gets easily forgotten, and there is a thin line that separates the events from Euro corrective in nature to potentially be the trigger that may constitute a structural change in the still daily EUR/USD uptrend. 

In order to trend-shift the EUR/USD in a more clear manner, large size flows should continue to enter the market to confirm that the uptrend has indeed its days numbered, and sellers are gaining not just short term control but more evidence of a structural shift. At the moment, such predictions would be only cheap speculation though, as all the good work done by Euro long plays since November last year still somehow prevails when readings the technicals. 

However, this this is a week full of Eurozone economic reports on the calendar, which argues for fundamentals playing a key role again on setting the Euro tone. The German IFO is one of those key event to keep an eye on this week, although according to Kathy Lien, co-founder at BKAM, "the most important release in our opinion will be the European Commission's economic growth forecasts." Kathy thinks that "if their forecasts for growth or inflation are revised lower, the euro could resume its slide, while unchanged forecasts would likely add fuel to the EUR/USD rally."

Another case not to overlook, which may potentially weaken the prospects for the upside in the EUR/USD, is the recent affirmation from no other than Fed's Chairman Ben Bernanke, saying that "the US economy is recovering", a statement bold enough for speculators to have taken well notice of. The 5-carefully chosen words may see higher speculation about an early QE end, an event that while still far to be even taken too serious, may have a fair number of USD bulls excited. 

Technically, Valeria Bednarik, chief analyst at FXstreet.com, notes: "The pair presents a shy bearish tone according to the hourly chart, with price right below a flat 20 SMA and indicators heading slightly lower, getting into negative territory. In the 4 hours chart technical readings are more bearish, supporting a downward move for this Monday: the daily ascendant trend line coming from 1.2660 stands today in the 1.3270 area, main bearish target. Stops below the level should be large, so any attempt to break lower may see the downside extending fast up to 1.3220 price zone."

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THE DAY TRADING RISKS

For traders who enjoy the excitement of the roller coaster ride then day trading can be both exciting and profitable but it is not something for the novice forex trader and should only be contemplated once you have cut your teeth in the world of currency trading and gained a fair amount of experience.

For sure day trading is a risky business and is not something which you should try unless you know exactly what you are doing as, while it can be very profitable, it can also produce very large losses very quickly.

You will be working to very short time frames during which you will need to be glued to your computer screen jumping onto the wave of a trade as it gains momentum and the jumping off as it crests in order to ride the next wave. in its truest form buying and selling with a very short investment horizon

Although we talk about investment it also needs to be understood that spotting the waves as they roll in and knowing just when to jump on and jump off requires both skill and practice.

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Most Asian stocks higher as Shanghai reopens; Nikkei up 2.29%

Most Asian stocks are spotted higher during Monday’s session as Japanese shares are surging after G20 nations refrained from overt punishment of Japan regarding the weaker yen. 

Japan’s Nikkei surged 2.29% as USD/JPY rallied G20 officials indicated they will allow the yen to continue sliding as long as Japanese officials and policymakers do not make public statements to push the currency lower. 

That opens the door for Japan to continue stimulating its economy, the world’s third-largest, and perhaps engage in asset-buying sooner-than-expected. Earlier this year, the Bank of Japan said it would engage in open-ended asset-buying, but the central bank disappointed markets by delaying the start of that effort until 2014. 

Regarding BoJ, Prime Minister Shinzo Abe is in the process of selecting a new governor to lead the central bank to replace Masaaki Shirakaw who steps down next month. Earlier today, at least one media outlet reported that Toshiro Muto is the leading candidate to be the next BoJ governor and that Abe could make an announcement to that effect as early as this week. 

Hong Kong’s Hang Seng fell 0.37% while the Shanghai Composite rose 0.61% after being closed all of last week due to Chinese Lunar New Year festivities. The Shanghai Composite was boosted by reported that a record number of Chinese traveled during the Lunar New Year, helping lift travel and leisure shares. 

Elsewhere, South Korea’s Kospi fell 0.23% as the weaker yen is again seen as an issue for South Korean exporter to contend with. Additionally, a report released earlier today showed producer prices there fell by the most in three years. The won fell today, but surged 1.6% last week, the currency’s best weekly performance since late 2011.

Australia’s S&P/ASX 200 Index added 0.5% ahead of Tuesday’s release of minutes from Reserve Bank of Australia’s most recent meeting. 

Meanwhile, New Zealand’s NZSE 50 climbed 0.40% while Singapore’s Straits Times Index was higher by 0.01%. S&P 500 futures are up 0.04%, but U.S. markets are close today for a public holiday.

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Forex - GBP/USD weekly outlook: February 18 - 22

The pound fell to six-and-a-half month lows against the dollar on Friday after official data showed that U.K. retail sales fell more-than-expected in January adding to fears over the economic outlook.

GBP/USD hit a low of 1.5461 on Friday, the pair’s lowest since July 25, before settling back at 1.5516, 0.16% higher for the day but down 0.90% for the week.

Cable is likely to find support at 1.5371 and resistance at 1.5549, Friday’s high.

The pound fell sharply after the Office for National Statistics said U.K. retail sales dropped 0.6% in January as a result of heavy snow, confounding expectations for a 0.4% increase.

The data fuelled concerns over the faltering U.K. economy, which contracted by 0.3% in the three months to December.

On Wednesday, the Bank of England cut its outlook for growth in its quarterly inflation report and said inflation would remain above target until early 2016.

The BoE said inflation is likely to be at around 2.3% in two years’ time, sharply higher than the 1.8% forecast in November, before falling back below the bank’s 2% target in the first quarter of 2016.

The central bank said the economy will experience a "slow but sustained recovery" over the next three years, saying economic growth was likely to remain below its pre-crisis levels until 2015 and that it stood ready to provide more stimulus as needed.

In the U.S. data on Friday indicated that the economic recovery remains uneven.

The New York Federal Reserve reported manufacturing in New York state expanded in February, while a survey showed a surprisingly strong rise in U.S. consumer sentiment.

The Empire State manufacturing index rebounded to 10.0 in February, from minus 7.8 in January, outstripping expectations for a reading of minus 2.

The University of Michigan said its index of consumer confidence rose to 76.3 from 73.8 in January, better than expectations for a reading of 74.8.

However, a separate report showed that industrial production in the U.S. slipped 0.1% in December after a revised 0.4% gain in December. Economists had been expecting an uptick of 0.2%.

In the week ahead investors will be awaiting Wednesday’s minutes of the Federal Reserve’s January meeting, while the BoE is to release the minutes from its latest policy meetings on Wednesday.

Meanwhile, U.K. jobs data will also be closely watched.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Tuesday and Friday as there are no relevant events on this day.

Monday, February 18

Markets in the U.S. are to remain closed for the President’s Day holiday.

Wednesday, February 20

The U.K. is to publish official data on the change in the number of people claiming unemployment benefits and the unemployment rate. Meanwhile, the BoE is to publish its monetary policy meeting minutes.

The U.S. is to release official data on building permits, a strong indicator of future construction activity, as well as data on housing starts. The U.S. is also to publish official data on producer prices, while the Federal Reserve is to release the minutes of its most recent policy meeting.

Thursday, February 21

The U.K. is to release official data on public sector net borrowing as well as a report on industrial order expectations.

The U.S. is to release official data on consumer price inflation as well as the weekly government report on initial jobless claims. The U.S. is also to publish industry data on existing home sales, a report on manufacturing activity in Philadelphia and official data on crude oil stockpiles.

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Forex - EUR/USD weekly outlook: February 18 - 22

The euro was almost unchanged against the dollar on Friday as the single currency remained under pressure following worse-than-expected data on euro zone fourth quarter growth on Thursday.

EUR/USD hit a session low of 1.3307 before settling at 1.3362 by close of trade, dipping 0.01% on the day and 0.30% lower for the week.

The pair is likely to find support at 1.3263, the low of January 23 and resistance at 1.5434, Thursday’s high.

Data on Thursday showed that euro zone gross domestic product contracted by 0.6% in the three months to December, compared to expectations for a 0.4% decline.

It was the fastest rate of decline since 2009 and marked a third consecutive quarter of contraction.

Germany’s economy, the euro zone’s largest, contracted by 0.6% in the in the fourth quarter, more than expectations for a 0.5% drop on declining exports and investment.

Meanwhile, data on Friday showed that the euro zone posted a larger-than-expected trade surplus in December as imports fell faster than exports.

Eurostat said the unadjusted trade surplus was EUR11.7 billion in December, higher than the EUR8 billion a year earlier, but lower than forecasts for a rise to EUR13.1 billion.

The report said euro zone exports were down 1.8% in December month-on-month, while imports dropped 3.0%.

In the U.S. data on Friday indicated that the economic recovery remains uneven.

The New York Federal Reserve reported manufacturing in New York state expanded in February, while a survey showed a surprisingly strong rise in U.S. consumer sentiment.

The Empire State manufacturing index rebounded to 10.0 in February, from minus 7.8 in January, outstripping expectations for a reading of minus 2.

The University of Michigan said its index of consumer confidence rose to 76.3 from 73.8 in January, better than expectations for a reading of 74.8.

However, a separate report showed that industrial production in the U.S. slipped 0.1% in December after a revised 0.4% gain in December. Economists had been expecting an uptick of 0.2%.

In the week ahead investors will be awaiting Wednesday’s minutes of the Federal Reserve’s January meeting, while euro zone manufacturing activity and Germany’s Ifo business climate index will be closely watched.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, February 18

The euro zone is to release official data on the current account.

Markets in the U.S. are to remain closed for the President’s Day holiday.

Tuesday, February 19

In the euro zone, the ZEW Institute is to release its closely watched index of German economic sentiment, a leading indicator of economic health.

Wednesday, February 20

In the euro zone, Germany is to produce official data on producer price inflation, while both Germany and France are to hold auctions of 10-year governments bonds.

The U.S. is to release official data on building permits, a strong indicator of future construction activity, as well as data on housing starts. The U.S. is also to publish official data on producer prices, while the Federal Reserve is to release the minutes of its most recent policy meeting.

Thursday, February 21

The euro zone is to release closely watched preliminary data on manufacturing and service sector activity, while Germany and France are also to publish individual reports. In addition, Spain’s Treasury is to auction 10-year government bonds.

The U.S. is to release official data on consumer price inflation as well as the weekly government report on initial jobless claims. The U.S. is also to publish industry data on existing home sales, a report on manufacturing activity in Philadelphia and official data on crude oil stockpiles.

Friday, February 22

In the euro zone, the Ifo Institute is to publish a report on German business climate, a leading indicator of economic health.

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