FOREX ONLINE TRADING SAFE OR SCAM

The invention from the Internet has created many changes in how that we conduct us, our personal business and our solution to invest money. We can pay our bills online, shop online, bank online, and also trading online.

We could even buy/sell stocks and currencies online. Traders love with the ability to examine their accounts whenever they would like to, and brokers like to be able to take orders over the Internet, in contrast to the telephone.

Most brokers and brokerage houses now offer online trading to their clients. Another big plus with trading online is the fact that fees and commissions tend to be lower. While online trading is excellent, there are some drawbacks.

Should you be new at all to investing, with the ability to actually consult broker is often rather beneficial. When you aren’t forex market savvy, online trading can be a dangerous thing in your case. If this is the truth, ensure that you learn around you about forex currency trading before you start trading online.

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Dollar pushes higher on positive U.S. manufacturing data

The dollar pushed higher against the other major currencies on Friday, as positive U.S. manufacturing data added to speculation that the Federal Reserve could begin scaling back its bond-buying program sooner than anticipated strengthened the greenback.

During U.S. morning trade, EUR/USD was down 0.71% at 1.3488.

In a report, the Institute of Supply Management rose to 56.4 in October, from a reading of 56.2 the previous month, confounding expectations for a decline to 55.0. 

The report came a day after data showed that manufacturing activity in the Chicago region expanded at the fastest rate in 30 years in October, while a separate report showed that U.S. initial jobless claims fell in line with expectations last week. 

The data fuelled speculation that the Fed may start tapering stimulus sooner than expected, after the central bank sounded more optimistic than anticipated in its assessment of the economy on Wednesday. 

Meanwhile, the single currency remained under pressure after data on Thursday showing that euro zone inflation fell to a four year low in October sparked concerns over the risk of further rate cuts by the European Central Bank.

The greenback was also higher against the pound, with GBP/USD down 0.61% at 1.5939.

Markit research group said the U.K. manufacturing purchasing managers' index fell to 56.0 in October, from a downwardly revised reading of 56.3 the previous month. Analysts had expected the index to tick down to 56.1 last month. 

The dollar was higher against the yen and the Swiss franc, with USD/JPY up 0.48% at 98.83, and with USD/CHF gaining 0.76% at 0.9135. 

In Switzerland, data showed that the SVME PMI fell to 54.2 last month, from a reading of 55.3 in September, confounding expectations for a rise to 55.5.

The dollar was higher against its cousins in Canada, Australia and New Zealand, with USD/CAD adding 0.14% at 1.0446, AUD/USD down 0.08% at 0.9447 and NZD/USD shedding 0.32% at 0.8237. 

Official data earlier showed that producer price inflation in Australia rose 1.3% in the third quarter, exceeding expectations for a 0.7% uptick, after a 0.1% rise in the three months to June. 

In addition, the export-related currencies found support after China's official purchasing managers' index released earlier in the day rose to 51.4 in October, the highest in 18 months, from 51.1 in September. 

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.62% at 80.83.

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U.S. stocks open higher, eyes on ISM data; Dow Jones up 0.44%

U.S. stocks opened higher on Friday, supported by upbeat Chinese data, while investors eyed upcoming U.S. manufacturing data amid expectations for the Federal Reserve to begin tapering its stimulus program sooner than anticipated. 

During early U.S. trade, the Dow Jones Industrial Average gained 0.44%, the S&P 500 index rose 0.36%, while the Nasdaq Composite index climbed 0.43%. 

Equities found support after China's official purchasing managers' index released earlier in the day rose to 51.4 in Octoer, the highest in 18 months, from 51.1 in September. 

Meanwhile, recent series of positive U.S. data added to expectations for the Fed to begin tapering its stimulus program sooner than expected. 

On Thursday, data showed that manufacturing activity in the Chicago region expanded at the fastest rate in 30 years in October, while a separate report showed that U.S. initial jobless claims fell in line with expectations last week. 

Apple edged up 0.19%, as the tech giant's new iPad Air model was set to begin selling in U.S. stores on Friday. 

In the auto sector, Tesla Motors surged 3.08% even after saying it suffered its biggest one-month loss of market value in October amid concern among some investors that a fivefold stock-price surge outpaced the growth prospects for Elon Musk’s electric-car company. 

Adding to gains, Facebook rallied 3.44% as the social media giant said this week that it doesn’t plan to increase the balance of ads that it shows to users in their news feeds. 

Facebook said ads took up 5% of the posts in news feeds in the second quarter and have risen only modestly since then. 

On the downside, Chevron shares tumbled 1.71% after the oil company reported a decline in third-quarter profit, weighed by lower refining margins. 

American International Group dove 6.39% after naming Brian Schreiber and Geoffrey Cornell deputy chief investment officers. 

Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 edged up 0.06%, France’s CAC 40 slipped 0.10%, Germany's DAX dipped 0.05%, while Britain's FTSE 100 added 0.15%. 

During the Asian trading session, Hong Kong's Hang Seng Index added 0.19%, while Japan’s Nikkei 225 Index dropped 0.88%. 

Later in the day, the U.S. was to release a report from the Institute of Supply Management on manufacturing activity.

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U.S. futures edge higher ahead of ISM report; Dow Jones up 0.26%

U.S. stock futures pointed to a higher open on Friday, as markets eyed the release of U.S. manufacturing data later in the day, amid speculation the Federal Reserve could begin scaling back its stimulus program sooner than anticipated. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.26% rise, S&P 500 futures signaled a 0.15% gain, while the Nasdaq 100 futures indicated a 0.26% increase. 

A recent series of positive U.S. data added to expectations for the Fed to begin tapering its stimulus program sooner than expected. 

On Thursday, data showed that manufacturing activity in the Chicago region expanded at the fastest rate in 30 years in October, while a separate report showed that U.S. initial jobless claims fell in line with expectations last week.

Separately, equities found support after China's official purchasing managers' index released earlier in the day rose to 51.4 in Octoer, the highest in 18 months, from 51.1 in September. 

Apple was expected to be active, as the tech giant's new iPad Air model was set to begin selling in U.S. stores on Friday. Shares in the company were down 0.18% in pre-market trade. 

The auto sector was also likely to be in focus, after Tesla Motors said it suffered its biggest one-month loss of market value in October amid concern among some investors that a fivefold stock-price surge outpaced the growth prospects for Elon Musk’s electric-car company. 

Tesla shares climbed 0.82% in early trading. 

Meanwhile, Facebook advanced 0.59% in extended trade, as the social media giant said this week that it doesn’t plan to increase the balance of ads that it shows to users in their news feeds. 

Facebook said ads took up 5% of the posts in news feeds in the second quarter and have risen only modestly since then. 

Among insurers, American International Group plumged 3.58% pre-market after naming Brian Schreiber and Geoffrey Cornell deputy chief investment officers. 

Other stocks likely to be in focus included Chevron, scheduled to report quarterly earnings later in the day. 

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.13%, France’s CAC 40 declined 0.35%, Germany's DAX edged down 0.14%, while Britain's FTSE 100 fell 0.10%. 

During the Asian trading session, Hong Kong's Hang Seng Index added 0.19%, while Japan’s Nikkei 225 Index dropped 0.88%. 

Later in the day, the U.S. was to release a report from the Institute of Supply Management on manufacturing activity.

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Dollar broadly higher vs. rivals on Fed taper speculation

The dollar was broadly higher against the other major currencies on Friday, as fresh speculation that the Federal Reserve could begin scaling back its bond-buying program sooner than anticipated strengthened the greenback.

During European morning trade, EUR/USD was down 0.49% at 1.3517.

The euro remained under pressure after on Thursday data showing that euro zone inflation fell to a four year low in October sparked concerns over the risk of further rate cuts by the ECB.

Eurostat said consumer price inflation in the currency bloc rose 0.7% in October, the slowest pace since November 2009, after rising 1.1% in September. 

A separate report showed that the euro zone unemployment rate was at a record high 12.2% in September. 

Meanwhile, the greenback remained supported as a recent series of positive U.S. data added to expectations for the Federal Reserve to begin tapering its stimulus program sooner than expected. 

On Thursday, data showed that manufacturing activity in the Chicago region expanded at the fastest rate in 30 years in October, while a separate report showed that U.S. initial jobless claims fell in line with expectations last week.

The greenback was also higher against the pound, with GBP/USD down 0.27% at 1.5993.

Markit research group said the U.K. manufacturing purchasing managers' index fell to 56.0 in October, from a downwardly revised reading of 56.3 the previous month. Analysts had expected the index to tick down to 56.1 last month. 

The dollar was steady against the yen, with USD/JPY down 0.06% at 98.30, and up against the Swiss franc, with USD/CHF rising 0.37% at 0.9099. 

In Switzerland, data showed that the SVME PMI fell to 54.2 last month, from a reading of 55.3 in September, confounding expectations for a rise to 55.5.

The dollar was steady to lower against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.13% at 1.0417, AUD/USD up 0.12% at 0.9465 and NZD/USD inching down 0.01% at 0.8264. 

Official data earlier showed that producer price inflation in Australia rose 1.3% in the third quarter, exceeding expectations for a 0.7% uptick, after a 0.1% rise in the three months to June. 

In addition, the export-related currencies found support after China's official purchasing managers' index released earlier in the day rose to 51.4 in October, the highest in 18 months, from 51.1 in September. 

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.26% at 80.55. 

Later in the day, the U.S. was to release a report from the Institute of Supply Management on manufacturing activity.

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Forex - EUR/USD near 2-1/2 week lows on ECB speculation

The euro was trading near two-and-a-half week lows against the U.S. dollar on Friday, weighed by fresh expectations for the European Central Bank to implement fresh stimulus measures in order to bolster growth. 

EUR/USD hit 1.3540 during late Asian trade, the pair's lowest since October 17; the pair subsequently consolidated at 1.3560, slipping 0.17%. 

The pair was likely to find support at 1.3480, the low of October 15 and resistance at 1.3682, the high of October 17. 

The euro remained under pressure after on Thursday data showing that euro zone inflation fell to a four year low in October sparked concerns over the risk of further rate cuts by the ECB.

Eurostat said consumer price inflation in the currency bloc rose 0.7% in October, the slowest pace since November 2009, after rising 1.1% in September. 

A separate report showed that the euro zone unemployment rate was at a record high 12.2% in September. 

Meanwhile, a string of positive U.S. data supported demand for the dollar. On Thursday, data showed that manufacturing activity in the Chicago region expanded at the fastest rate in 30 years in October, while a separate report showed that U.S. initial jobless claims fell in line with expectations last week.

The euro was fractionally lower against the pound with EUR/GBP edging down 0.08%, to hit 0.8462. 

Later in the day, the U.S. was to release a report from the Institute of Supply Management on manufacturing activity.

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Asian stocks mixed after China data; Nikkei down 1.09%

Asian stocks were mixed Friday as investors mulled the fate of the Federal Reserve’s quantitative easing program and following key data out of China. 

In Asian trading Friday, Japan’s Nikkei 225 slipped 1.09%. Japanese stocks came under pressure after electronics giant Sony slid by double-digits after paring its full-year profit forecast by 40%. Rival Panasonic actually traded higher, but the broader Topix was down 0.80%. 

Hong Kong’s Hang Seng inched down 0.06% while the Shanghai Composite rose 0.12% after China’s National Bureau of Statistics said the country’s PMI was 51.4 in October, beating the consensus estimate of 51.2 and the September reading of 51.1. 

The preliminary reading of a manufacturing purchasing managers’ index from HSBC Holdings and Markit Economics released Oct. 24 was a higher-than-estimated 50.9, according to Bloomberg. Readings above 50 indicate expansion. 

The new orders index rose to 51.3 from an initial reading of 50.8. Domestic new orders also surged, a positive sign for the world’s second-largest economy, which is trying to transition to more domestic consumption away from a dependence on exports. 

Australia’s S&P/ASX 200 Index fell 0.1% after the Australian Bureau of Statistics said that country’s producer price inflation was 1.3% in the third quarter after checking in at just 0.1% in the second quarter. Analysts expected a third-quarter reading of 0.7%. 

New Zealand’s NZSE 50 nudged up 0.07%. In U.S. economic news out Thursday, the Chicago manufacturing purchasing managers’ index jumped to 65.9 in October from 55.7 in September. Analysts had expected the index to decline to 55.0.

The new orders component of the index jumped to a nine-year high of 74.3 from 58.9 in September. 

Meanwhile, the Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 25 declined by 10,000 to a seasonally adjusted 340,000, in line with market expectations. The U.S. is the world’s largest oil consumer. 

South Korea’s Kospi rose 0.26% after the Korea National Statistical Office said that South Korean consumer price inflation fell to negative 0.3% last month from 0.2% in September. Analysts expected an October reading of 0.1%. 

Separately, the statistics office said South Korea’s trade surplus advanced to USD4.89 billion last month, topping estimates of USD4.32 billion. Exports rose 7.3% to USD50.51 billion while imports gained 6.1% to USD45.61 billion. 

Singapore’s Straits Times Index fell 0.44% while S&P 500 rose 0.07%. 

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Forex Trading Signal for 1st November 2013

                                                                                


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

For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

 Down Trend :

 (1) SELL

E/P: 1.36292

T/P: 1.35900

S/L: 1.37000

 

GBP/USD

Up Trend:

(1) BUY

E/P: 1.60401

T/P: 1.60601

S/L: 1.60000

NOTE: The above posted Signals are delayed 2 - 4 hours after it has been  generated.
Daily forex signals are sent ontime to only our subcribers.

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