Develop a habit of reviewing and analyzing
Develop a habit of reviewing and analyzing your good and bad trades. Then you will have a much better sense of what will work best in your future trades.
Trading is always full of emotions
Because trading is always full of emotions, you must have a trading strategy which includes a set of rules you stick to. This will help protect you from yourself.
software which aims at predicting future trends
While there are a lot of companies who make money by selling software which aims at predicting future trends, the reality is that if this software really worked, these companies would not be giving the secret away.
Trade wisely
There are many beginners who make trades in any direction. While there is a possibility to make profits both on the upside and downside of a trade, trading in the direction of the trend will give you the best chances for success
Invest in a good Forex trading education
The market is always changing and it may be hard to understand and keep up with these changes unless you invest in a good Forex trading education
Tuesday, 16 April 2013
Forex Daily Outlook April 17 2013
Forex Trading Signals for 17th April 2013
Japan (Tokyo) United Kingdon (London) USA (New York)
For more easy access,,,,,,Download our mobile application on your mobile : Click Fxsignals
Dollar turns broadly lower vs. rivals after U.S. data
During U.S. morning trade, the dollar was lower against the euro, withEUR/USD advancing 0.80% to 1.3141.
The euro came under pressure earlier, after data showed that the German ZEW economic sentiment index dropped to 36.3 in April, from a reading of 48.5 the previous month, compared to expectations for a fall to 42.0.
The euro zone ZEW economic sentiment index declined to 24.9 this month, from 33.4, compared to expectations for a reading of 31.5.
A separate report showed that euro zone consumer price inflation remained unchanged at an annualized rate of 1.7% in March, in line with expectations, while core CPI rose to an annualized rate of 1.5% last month, from 1.3% in February, beating expectations for a rise to 1.4%.
The greenback was also higher against the pound, with GBP/USDadding 0.17% to 1.5312.
Official data earlier showed that U.K. CPI remained unchanged at an annualized rate of 2.8% in March, in line with expectations.
A separate report showed that producer price inflation input fell 0.1% last month, less than the expected 0.2% decline, after a 2.8% increase.
Elsewhere, the greenback was higher against the yen, with USD/JPYjumping 1.15% to trade at 97.92, but lower against the Swiss franc, withUSD/CHF dropping 0.57% to 0.9257.
The greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD slipping 0.28% to 1.0223,AUD/USD gaining 0.43% to 1.0358 and NZD/USD rallying 0.95% to 0.8485.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.39% to 82.17.
In the U.S., the Census Bureau said building permits rose by 0.902 million in March, less than the expected 0.940 million increase, after a 0.968 million rise the previous month.
The report added that housing starts in the U.S. rose by 1.036 million units last month, beating expectations for an increase of 0.930 million, after a 0.986 million rise in February.
Separately, official data showed that core CPI in the U.S. rose 0.1% in March, disappointing expectations for a 0.2% increase, after a 0.2% rise the previous month
CPI, including food and energy, fell 0.2% last month after a 0.7% rise in February, compared to expectations for a 0.1% gain.
In addition, the Federal Reserve said industrial production in the U.S. rose 0.4% in March, beating expectations for a 0.2% gain, after a 1.1% increase the previous month.
Forex - GBP/USD edges higher but gains capped
GBP/USD hit 1.5330 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.5308, adding 0.15%.
Cable was likely to find support at 1.5199, the low of April 5 and resistance at 1.5410, the high of April 12.
In the U.S., the Census Bureau said building permits rose by 0.902 million in March, less than the expected 0.940 million increase, after a 0.968 million rise the previous month.
The report added that housing starts in the U.S. rose by 1.036 million units last month, beating expectations for an increase of 0.930 million, after a 0.986 million rise in February.
Separately, official data showed that core CPI in the U.S. rose 0.1% in March, disappointing expectations for a 0.2% increase, after a 0.2% rise the previous month.
CPI, including food and energy, fell 0.2% last month after a 0.7% rise in February, compared to expectations for a 0.1% gain.
In addition, the Federal Reserve said industrial production in the U.S. rose 0.4% in March, beating expectations for a 0.2% gain, after a 1.1% increase the previous month.
Meanwhile, investors remained cautious after the IMF cut its 2013 forecast for global growth to 3.3%, down from its January projection of 3.5%. It also trimmed its 2014 forecast to 4.0% from 4.1%.
Sterling was lower against the euro with EUR/GBP climbing 0.57%, to hit 0.8578.
Also Tuesday, official data showed that U.K. consumer price inflation remained unchanged at an annualized rate of 2.8% in March, in line with expectations.
A separate report showed that producer price inflation input fell 0.1% last month, less than the expected 0.2% decline, after a 2.8% increase.
Retail price inflation rose to an annualized rate of 3.3% in March from 3.2% the previous month, in line with expectations.
European stocks remain lower after weak data; Dax down 0.50%
During European afternoon trade, the EURO STOXX 50 retreated 0.68%, France’s CAC 40 slid 0.61%, while Germany’s DAX 30 shed 0.50%.
Data earlier showed that the German ZEW economic sentiment index dropped to 36.3 in April, from a reading of 48.5 the previous month, compared to expectations for a fall to 42.0.
The euro zone ZEW economic sentiment index declined to 24.9 this month, from 33.4, compared to expectations for a reading of 31.5.
Meanwhile, investors remained cautious after official data on Monday showed that the Chinese economy expanded by 7.7% year-on-year in the three months to March, down from 7.9% in the fourth quarter and undershooting expectations for 8.0% growth.
Separate reports showed that Chinese industrial production also came in below expectations, while retail sales rose slightly more than forecast.
Financial stocks remained broadly lower, as shares in French lenders BNP Paribas and Societe Generale declined 0.42% and 0.50%, while Germany's Deutsche Bank dipped 0.03%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander edged down 0.19% and 0.29%, while Italy's Intesa Sanpaolo and Unicredit slipped 0.08% and 0.12% respectively.
Elsewhere, LVMH plummeted 3.39% even as the luxury goods company said revenue climbed 6% to EUR6.95 billion in the three months through March.
On the upside, Paris-based Danone surged 3.73% after reporting first-quarter sales growth that beat estimates.
In London, FTSE 100 slid 0.52%, as U.K. lenders continued to track their European counterparts lower.
Shares in Barclays fell 0.22% and Lloyds Banking declined 0.51%, while HSBC Holdings retreated 0.74%. The Royal Bank of Scotland overperformed on the other hand, climbing 0.54%.
Meanwhile, mining stocks continued to trend higher. BHP Billiton gained 0.93% and Rio Tinto rallied 1.25%, while Rangold Resources rallied 5.48% on higher gold prices.
Copper producers Xstrata and Kazakhmys also remained on the upside, surging 5.22% and 2.47% respectively.
Among earnings, Michael Page plunged 5.97% after the recruitment company reported a 6.7% decline in first-quarter gross profit and forecast the second quarter will be "challenging".
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.51% gain, S&P 500 futures signaled a 0.55% increase, while the Nasdaq 100 futures indicated a 0.58% advance.
Later in the day, the U.S. was to publish official data on building permits and on housing starts, followed by reports on consumer inflation, industrial production and the capacity utilization rate.
Forex - EUR/USD edges higher but remains under pressure
EUR/USD hit 1.3114 during late Asian trade, the session high; the pair subsequently consolidated at 1.3075, adding 0.30%.
The pair was likely to find support at 1.3006, the low of April 9 and resistance at 1.3127, the high of April 12.
Sentiment remained under pressure after official data showed that the Chinese economy expanded by 7.7% year-on-year in the three months to March, down from 7.9% in the fourth quarter and undershooting expectations for 8.0% growth.
Separate reports showed that Chinese industrial production also came in below expectations, while retail sales rose slightly more than forecast.
The data reinforced concerns over the outlook for global growth after data on Friday showed that U.S. retail sales fell 0.4% in March, the largest decline in nine months, while a report on Monday showed that the Empire State manufacturing index fell to 3.1 in April, from a reading of 9.2 the previous month.
The euro was higher against the pound with EUR/GBP edging up 0.15%, to hit 0.8542.
Later in the day, the euro zone was to publish official data on consumer inflation, while the ZEW Institute was to release its closely watched report on German economic sentiment.
The U.S. was to publish official data on building permits and on housing starts, followed by reports on consumer inflation, industrial production and the capacity utilization rate.