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Wednesday, 20 November 2013

Forex Trading Signal for 21st 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: 1.34729
T/P: 1.34300
S/L: 1.35100

 

GBP/USD
Down Trend:

(1) SELL
E/P: 1.61100
T/P: 1.60700

S/L: 1.61500

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.

To subcribe: click here

Forex - Yen weakens after BoJ keeps rates and JGB buying policy steady


The yen weakened against the dollar after the Bank of Japan unanimously on Thursday kept its benchmark interest rate at 0.10% as expected and said the domestic economy continues to recover moderately, though the global outlook remains uncertain.

USD/JPY traded at USD/JPY traded at 100.46, up 0.42%, after the announcement, which also pledged to keep the rate of Japan Government Bond purchases at JPY50 trillion annually, with BoJ Governor Haruhiko Kuroda scheduled to hold a news conference at 1530 local time (0630 GMT).

The BoJ aims to help Japan reach 2% sustained inflation in 2015 in combination with fiscal efforts.

The BoJ decision follows HSBC's closely watched November flash manufacturing purchasing managers index for China clocked in at 50.4, below a forecast of 50.8, and easing from 50.9 for the final in October, according to a release.

"China's growth momentum softened a little in November, as the HSBC Flash China Manufacturing PMI moderated due to the weak new export orders and slowing pace of restocking activities," said HSBC chief China economist Qu Hongbin. "That said, this is still the second-highest PMI reading in seven months. The muted inflationary pressures should enable Beijing to keep policy relatively accommodative to support growth."

Reserve Bank of Australia Governor Glenn Stevens will also speak in Sydney on Thursday at 2005 local time (0905 GMT) with the bank closely watched for any signals on its bias to ease the cash rate further from a record low 2.5%.

AUD/USD traded at 0.9304, down 0.34%. China is a top export destination for Australian commodities such as iron ore.

Overnight, the dollar rose against most major currencies after the Federal Reserve said a decision to taper its monthly asset purchases could come in a few months, while reports the European Central Bank is considering negative interest rates also firmed demand for the greenback.

A decision to taper the pace of assets will come when economic indicators point to an economy that is clearly gaining steam, and although monetary authorities did not suggest when that month may arrive, markets felt it will come soon.

"During this general discussion of policy strategy and tactics, participants reviewed issues specific to the Committee's asset purchase program. They generally expected that the data would prove consistent with the Committee's outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months," the minutes read.

Data released earlier supported the greenback as well.

The U.S. Commerce Department reported that retail sales expanded 0.4% in October, blowing past expectations for a 0.1% gain after coming in flat the month earlier.

Elsewhere, the Commerce Department reported that wholesale business inventories inched up by 0.6% in September compared to expectations for a 0.3% gain.

Weak data out of the housing sector failed to cap the dollar's advance.

The National Association of Realtors reported earlier that existing home sales declined 3.2% to a seasonally adjusted 5.12 million units in October from 5.29 million in September.

Analysts had expected U.S. existing home sales to fall 2.6% to 5.13 million units last month.

Consumer price inflation figures largely met expectations.

U.S. Department of Labor said the country's consumer price index fell by a seasonally adjusted 0.1% in October, defying expectations for a 0.1% increase after rising by 0.2% in September.

Year-over-year, the U.S. consumer price index rose at an annualized rate of 1.0% last month, in line with estimates and slowing from 1.2% in September.

The core consumer price index, which is stripped of volatile food and energy costs, inched up 0.1% in October, in line with forecasts. Core consumer prices rose 0.1% in September.

The U.S. core CPI increased at annualized rate of 1.7% last month, unchanged from September and in line with expectations.

Across the Atlantic, the euro weakened after Bloomberg reported that sources close to the ECB said the bank is to weigh a -0.1% deposit rate if more easing is required.

The ECB surprised investors after it unexpectedly cut rates to a record low 0.25% earlier this month amid concerns over mounting deflationary pressures in the euro area.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was at 81.19, up 0.12%.

On Thursday, the U.S. is release data on producer price inflation, as well as the weekly report on initial jobless claims. The U.S. is also to release data manufacturing activity from the Philly Fed.

Fed Minutes: Tapering asset purchases possible in coming months

The Federal Reserve in its Oct. 29-30 monetary policy meeting said conditions warranting the need to taper the pace of its monthly asset purchases should arrive in the coming months, a sign the U.S. central bank saw more robust recovery around the corner though still far enough away to keep ultra-loose policies in place.

The Federal Reserve is currently purchasing USD85 billion in Treasury holdings and mortgage debt a month to spur recovery, a monetary policy tool known as quantitative easing that drives down long-term interest rates, thus weakening the dollar.

A decision to taper the pace of assets will come when economic indicators point to an economy that is clearly gaining steam, though monetary authorities did not suggest when that time may arrive.

"During this general discussion of policy strategy and tactics, participants reviewed issues specific to the Committee's asset purchase program. They generally expected that the data would prove consistent with the Committee's outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months," the minutes read.

Some participants considered scenarios in which the Fed should consider tapering asset purchases before the labor market's outlook improved. 

Overall, monetary authorities wanted to track economic indicators for a little longer to be sure the U.S. economy can stand on its own two feet before winding down stimulus programs.

"A couple of participants thought it premature to focus on this latter eventuality, observing that the purchase program had been effective and that more time was needed to assess the outlook for the labor market and inflation; moreover, international comparisons suggested that the Federal Reserve's balance sheet retained ample capacity relative to the scale of the U.S. economy."

Past and present rounds of quantitative easing have swelled the Fed's balance sheet to around USD4 trillion.

The dollar took the news in stride and maintained earlier highs, as the minutes fanned ongoing sentiments that the Federal Reserve will wait until early 2014 before tapering asset purchases

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.56% at 81.16.

Forex - EUR/USD drops on advancing U.S. retail sales data, ECB news


The euro dropped against the dollar on Wednesday after official data revealed U.S. retail sales came in stronger than expected in October, which fueled optimism for a more robust holiday shopping season.

In U.S. trading on Wednesday, EUR/USD was down 0.61% at 1.3456, up from a session low of 1.3446 and off from a high of 1.3578.

The pair was likely to find support at 1.3298, the low from Nov. 7, and resistance at 1.357, Tuesday's high.

The U.S. Commerce Department reported earlier that retail sales expanded 0.4% in October, blowing past expectations for a 0.1% gain after coming in flat the month earlier.

The data fueled optimism that the consumer-driven U.S. economy is on the mend and may keep the Federal Reserve on track to begin winding down stimulus measures in early 2014.

Stimulus programs such as the Fed's USD85 billion in monthly bond purchases aim to spur recovery by driving down long-term interest rates, weakening the dollar in the process.

Elsewhere, the Commerce Department reported that wholesale business inventories inched up by 0.6% in September compared to expectations for a 0.3% gain.

Weak data out of the housing sector failed to cap the dollar's advance in late-morning U.S. trading.

The National Association of Realtors reported earlier that existing home sales declined 3.2% to a seasonally adjusted 5.12 million units in October from 5.29 million in September.

Analysts had expected U.S. existing home sales to fall 2.6% to 5.13 million units last month.

Consumer price inflation figures largely met expectations, though they did take a backseat to U.S. retail sales data.

U.S. Department of Labor said the country's consumer price index fell by a seasonally adjusted 0.1% in October, defying expectations for a 0.1% increase after rising by 0.2% in September. 

Year-over-year, the U.S. consumer price index rose at an annualized rate of 1.0% last month, in line with estimates and slowing from 1.2% in September.

The core consumer price index, which is stripped of volatile food and energy costs, inched up 0.1% in October, in line with forecasts. Core consumer prices rose 0.1% in September.

The U.S. core CPI increased at annualized rate of 1.7% last month, unchanged from September and in line with expectations.

Investors were eagerly awaiting the release of the minutes from the Fed's October policy meeting later in the day.

Fed Chairman Ben Bernanke on Tuesday reiterated the bank’s commitment to highly accommodative monetary policy on Tuesday and said the Fed would only taper its USD85 billion-a-month asset purchase program when it was assured of a sustained recovery in the labor market.

Interest rates will probably remain near zero for a “considerable time” after the bank winds up the stimulus program, he added.

Across the Atlantic, the euro weakened after Bloomberg reported that sources close to the ECB said the bank is to weigh a -0.1% deposit rate if more easing is required.

The ECB surprised investors after it unexpectedly cut rates to a record low 0.25% earlier this month amid concerns over mounting deflationary pressures in the euro area.

The single currency was down against the pound and down against the yen, with EUR/GBP trading down 0.75% at 0.8335 and EUR/JPY trading down 0.70% at 134.61.

On Thursday, the euro zone is to release preliminary data on manufacturing and service-sector activity.

The U.S. is release data on producer price inflation, as well as the weekly report on initial jobless claims. The U.S. is also to release data manufacturing activity from the Philly Fed.

Forex Trading Signal for 20th 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
 Up Trend :

 (1) BUY
E/P: 1.35264
T/P: 1.35500
S/L: 1.34900

 

GBP/USD
Up Trend:

(1) BUY
E/P: 1.61067
T/P: 1.61300

S/L: 1.60800

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.

To subcribe: click here

Forex Trading Signal for 19th 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: 1.35032
T/P: 1.34800
S/L: 1.35400

 

GBP/USD
Down Trend:

(1) SELL
E/P: 1.61109
T/P: 1.60900

S/L: 1.61500


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.

To subcribe: click here

Forex Trading Signal for 18th 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
 Up Trend :

 (1) BUY
E/P: 1.34807
T/P: 1.35100
S/L: 1.34400

 

GBP/USD
Up Trend:

(1) BUY
E/P: 1.61031
T/P: 1.61300

S/L: 1.62700


Forex Trading Signal for 15th 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
 Up Trend :

 (1) BUY
E/P: 1.34584
T/P: 1.34800
S/L: 1.34200

 

GBP/USD
Up Trend:

(1) BUY
E/P: 1.60544
T/P: 1.60800

S/L: 1.60200


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.

To subcribe: click here

Forex Trading Signal for 14th 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
 Up Trend :

 (1) BUY
E/P: 1.34604
T/P: 1.34850
S/L: 1.34204

 

GBP/USD
Up Trend:

(1) BUY
E/P: 1.59981
T/P: 1.60200

S/L: 1.59600


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.

To subcribe: click here

Global equities unmoved by Bernanke’s “no taper” speech

Global equities failed to register gains overnight despiteBernanke’s speech at the annual Dinner of the National  Economists Club affirming that the Federal Reserve will not taper until such time when fundamental data – predominately, the labor market – improves on a sustained basis and interest rates will continue to remain near zero for a “considerable time” after quantitative easing ends, “perhaps well after” unemployment falls below the Federal Reserve target of 6.5%.  Bernanke reiterated that the central bank will remain transparent and will clearly communicate the framework for its future policy decisions to ensure that market expectations and the Fed are aligned.
The dollar came under renewed selling pressure as Bernanke’s comments echoed that of Yellen’s testimony last week, ahead of FOMC minutes due for release later in the day where traders will peruse for clues as to the central banks’ fiscal outlook, its assessment on the labor market and its perspective on inflation.  Data released this morning showed that inflation contracted for the month of October at -0.1% while remaining stable at 1% on an annualized basis, in line with market consensus.  Retail sales climbed 0.4%, its largest gain in three months, and higher than the expected 0.1%, giving hope to American retailers as they gear up for the upcoming holiday season.  Other data on tap this morning include September business inventories and existing home sales for October.
North of the border, the Canadian dollar is up a modest 0.18% against the greenback, but continue to trade within a tight range.  Supporting the loonie includes Bernanke’s dovish commentary, and a decline in the US-CDN 2 year interest rate spread.   Domestic highlight today will be Bank of Canada Governor Poloz’s and Senior Deputy Governor Macklem’s testimony before the Senate Standing Committee on Banking, Trade and Commerce.  Analysts expect Poloz to maintain a dovish bias which will limit further CAD strength.  For the pair of USD/CAD, support is located at 1.0415 while resistance is found at 1.0485.
Across the Atlantic, the pound remained strong despite the release of dovish Bank of England minutes, revealing that it will not be raising the cost of borrowing until such time when the jobless rate have fallen to 7% and when the Monetary Policy Committee is confident about the durability of the recovery, easing of credit supply constraints, a strong housing expansion and the extent to which the British economy returns to full capacity.  Cable is currently trading at 1.6170 levels, where a daily close above 1.6168 will bring forth resistance at 1.6209 and 1.6249.  On the downside, support is seen at 1.6093, 1.6042 and 1.6012.
The upside momentum for the euro in the short term seems to be intact as it touched a 13 session high of 1.3580 in the Asian session and have retraced all of its losses following the European Central Bank’s  decision to cut interest rates on November 7th.  Fundamental data from Germany has weighed on the currency with German PPIcontracted 0.2% month-on-month and -0.7% on an annualized basis.  Near term euro drivers include PMI releases and commentary from ECB officials. The euro would need to close above 1.3538 to test resistance at 1.3623.  Support, on the other hand is placed at 1.3501, 1.3464 and 1.3440.

Forex - EUR/JPY drops on report ECB mulling negative rates

The euro fell from 4-year highs against the yen on Wednesday amid reports the European Central Bank is mulling the use of negative interest rates to ward off possible deflationary pressures.

In U.S. trading on Wednesday, EUR/JPY was down 0.73% at 134.57, up from a low of 134.42 and off a high of 135.94.

The pair sought to test support at 132.21, the low from Nov. 11, and resistance at 135.94,  the earlier high.

The euro weakened after Bloomberg reported that sources close to the ECB said the bank is to weigh a -0.1% deposit rate if more easing is required.

The ECB surprised investors after it unexpectedly cut rates to a record low 0.25% earlier this month amid concerns over mounting deflationary pressures in the euro area.

The euro firmed to 4-year highs on Tuesday after European Central Bank board member Joerg Asmussen warned that monetary authorities must be “very careful” when considering the use of negative interest rates to steer the economy away from low inflation rates.

The euro also softened against the yen and other safe-haven assets as investors eagerly awaited the release of the minutes from the Fed's October policy meeting later in the day.

Fed Chairman Ben Bernanke on Tuesday reiterated the bank’s commitment to highly accommodative monetary policy on Tuesday and said the Fed would only taper its USD85 billion-a-month asset purchase program when it was assured of a sustained recovery in the labor market.

Interest rates will probably remain near zero for a “considerable time” after the bank winds up the stimulus program, he added.

The euro, meanwhile, was down against the pound and down against the U.S. dollar, with EUR/GBP trading down 0.78% at 0.8332 andEUR/USD trading down 0.74% at 1.3438.

On Thursday, the euro zone is to release preliminary data on manufacturing and service-sector activity.