Forex Technical News

EUR/USD

After a strong rally over the last few days, the pair is finally seeing some downward correction with some room for the trend to continue. Looking at the daily chart, a breach of the upper Bollinger Band is evident with the RSI for the pair floating in the overbought territory. A bearish cross is evident on the 4 hour and 8 hour chart's Slow Stochastic. Going short with tight stops may be preferred for the day.

GBP/USD

The pair is currently range trading between 1.5630 and 1.5690 with most indicators in neutral territory. The RSI for the pair floats near the overbought territory on the 4 hour and daily chart indicating some downward movement may still be expected from the pair. Going short with tight stops for the day may be advised.

USD/JPY

After a strong downward move some correction may be expected for the pair as the RSI is floating in the oversold territory on the 4 hour and 8 hour charts and a bullish cross is evident on the 8 hour chart's Slow Stochastic. Going long for the day may be a good option.

USD/CHF

A breach of the lower Bollinger Band is evident on the daily chart with the RSI for the pair floating in the oversold territory on the 8, 4 and 2 hour charts. Furthermore, a bullish cross is evident on the 8 hour chart's Slow Stochastic. Going long with tight stops may be advised for the day.

AUD/CAD

After a long bullish run, some correction may be in store for the pair. A bearish cross is evident on the daily chart's Slow Stochastic with the RSI for the pair floating in the overbought territory on the 4 hour, 8 hour and daily charts. Moreover, a breach of the upper Bollinger Band can be seen on the daily chart, indicating an imminent downward move. Forex traders are advised to go short for the day.

Why to trade on Forex The Reason?

There are Many reasons to Trade on Forex but here below i will tell you about some of them :

1. There is no commission fee for trading at Forex.

2. There is no intermediary, you can trade directly at Forex.

3. Forex is open 24-hours a day.

4. Nobody can influence the market for a longer period.

5. High liquidity.

6. Free demo accounts, analysis and charts.

7. Small accounts that allow everyone to try out his luck.

Hope this has answered a lot of questions you were asking yourself about Forex and that you can now start trading. Also make sure that you check out other articles on this blog which can help you earn your fortune.

Good luck to everyone!

Easy Forex Trading Review

Easy Forex has a ten-year history of providing one of the best online platforms for forex trading. Easy Forex began with one objective in mind—to provide its clients a simple process of trading. From the very beginning they offered their own website to place orders rather than a trading platform that had to be downloaded to the clients’ computers. Easy Forex provided a website without clutter making it very easy to navigate.

Easy Forex has proven their reliability throughout their ten-year history. Because of their sterling record Easy Forex has been given full rights to operate in the United States, Australia, and Europe.

While competitors offer 4 or 5 base accounts, Easy Forex offers 12. They also offer several commodities such as gold, silver, gas oil, crude oil and heating oil among others. A unique feature only available through Easy Forex is the client is able to freeze the price of a trade before entering. A free demo account is offered to prospective clients.

How to do Forex Trading Online?

Even with the volatile stock market of 2009 there is still a lot of interest in forex daytrading. Many would-be investors want to learn how to trade currencies online because of the versatility of learning how to trade currency in an online course. Many want to learn forex trading to eventually pursue this business model full-time.

Online trading in the forex market is the same as trading in the stock market or in commodities. A day trader buys currency at a low price and then sells it at a higher price. For example, the Canadian dollar is worth 75 cents in US dollars. You would purchase as much Canadian dollar as you can while speculating that the Canadian dollar will increase in value. When it does, you trade your Canadian dollars for American dollars and make a profit.

After you learn the forex market by taking a course or by conducting currency trading research, you become a beginner trader. You can begin online trading with just a computer and an Internet connection.

Currency trades are conducted in pairs such as EURO/USD (Europe/US Dollar), JPY/USD (Japanese Yen/US Dollar), and many other world currency combinations.

Many beginners start their careers with the help of brokers who are well versed in trades. These brokers buy large quantities of units and break them down into smaller units to sell to individual investors. It was impossible for the individual investor to trade in forex before brokers began selling smaller units because of the amount of money a trader needed to have to enter the market. It’s now possible to start with as little as $100 to $1000.

The forex market is accessible 24 hours per day, six days per week from anywhere in the world. The market opens in Sydney, then in London, and finally in the United States each day. A trader has access to the market by a phone call to his broker, but most trade currencies online.

Currency traders spend most of their time looking for economic and other indicators in order to evaluate currency pairs and buy or trade to make a profit. The most serious traders use software to help in their analysis. Software has been developed to make accurate reports to the investor on fluctuations in currency pairs. The software can even indicate which pairs to buy or sell based on past performance and current indicators. The traders making the most money would not be without their software.

It is a good idea to learn how to read forex quotes. A forex quote gives the value of a currency in relation to another currency. For example, if you are trading the Japanese yen (JPY) and the US dollar (USD) and you want to know the value of the Japanese yen, the quote would be:

USD/JPY=119.50

The US dollar is the base currency and left of the slash while the Japanese yen is after the slash and called the quote. The base currency is always one unit or $1.00. That means it takes 119.50 yen to equal $1.00. Learning to read quotes is a good tool even when using software.

Please be sure to visit our Best Forex Broker tab to learn more about forex trading and online forex

The Future of Forex Trading

The profits of forex over currency futures trading are significant. The difference between the two instruments range from truth-seeking realities such as the history of each, their objective viewers, and their importance in the modern forex markets, to more concrete issues such as transactions fees, margin necessities, access to liquidity, easiness of use and the technical and educational support obtainable by sources of each service. These dissimilarities sketched below:
More Volume = Improved Liquidity. Daily money futures volume on the CME is now above 2% of the volume seen each day in the forex markets. Incomparable liquidity is one of many advantages that forex markets clutch more currency futures. The truth told this is old news. Any currency professional can tell you that cash has been king since daybreak of the modern currency markets in the early 1970's. The actual news is that individual dealers from every forex risk profile now have full right to use to the opportunities offered in the forex markets.
Forex markets give tighter bid to offer increases than currency futures markets. By reversing the futures cost to evaluate it to cash, you can willingly see that in the USD/CHF example over, inverting the futures selling price of .5894 - .5897 results in a currency price of 1.6958 - 1.6966, 8 pips vs. the 5-pip increase available in the forex currency markets.
Forex markets offer higher advantage and lower margin charge than those found in currency futures trading. When trading currency futures, buyers have one margin charge for "day" buy and sells and another for "overnight" situations. These forex margin rates can differ depending on business size. When trading cash markets, you have admission to the same margin rates day and night. Certainly, trading on margin enlarges equally your fx profits AND your losses.
Forex markets make use of easily understood and across the world used terms and cost quotes. Currency futures quotes are inversions of the cash value. For instance, if the cash price for USD/CHF is 1.7100/1.7105, the future corresponding is .5894/ .5897; a method followed only in the limits of futures trading.
Currency futures charges have the added difficulty of with an advance forex part that takes into account a time factor, interest rates and the interest disparities flanked by different currencies. The forex markets need no such changes, mathematical manipulation or thought for the interest rate factor of futures agreements.
Forex trades performed through FOREX.com are charge free*. Currency futures have the extra baggage of trading commissions, trade fees and defrayal fees.

What is Technical Forex Trading?

Just as you would expect with anyone trading in equities, investors in the Forex market employ strategies to help them invest more successfully. Metlife variable annuity All of these strategies ultimately boil down to one thing: trying to predict which way the currency exchange rates will fluctuate. Predict correctly, up or down, and make a profit while we all know what happens when we are incorrect.
When deciding whether or not to enter or exit a position in the Forex market, there are two basic types of analysis from which to choose: fundamental or technical. Investors who base decisions on fundamental analysis will look at interest rates and the overall economic performance of the nations in the currency pair when deciding when to sell and buy positions. Technical Forex investors will look to trade based on price performance and chart patterns—so which is best?
Use of fundamental analysis such as the latest GDP figures may seem like a very logical approach when deciding when to buy or sell a position in the Forex market. After all, we all know that stock prices are affected by economic data so it would stand to reason that the same would hold true for the Forex. However, the Forex market has no central exchange with set hours so trading continues 24 hours per day except when shut down between Friday and Sunday and this makes a big difference between profitability and loss for small investors.
The small investor is a very, very, very small fish in a gigantic ocean full of larger investors. By the time economic data and current events filter down to the small investor, all of the big players have already moved their currency and taken advantage of the information. Day trading is a very dangerous game in the Forex because the market is so fluid and investors are highly leveraged so using fundamental analysis is a very dangerous strategy.
Technical Forex trading, however, involves the use of historical data to interpret present pricing trends and predict the future. The moving average (MA) is the most common technical statistic used by Forex investors. Presented in a graph or chart format, the moving average helps investors see the price movements of a currency pair for a given period of time. A 10-day MA, for instance, will show an investor the daily open, daily close, high, low, and overall direction of a currency pair for a 10-day period of time. It is called a moving average and favored by investors because it helps smooth out the noise of the price movements so an overall trend can be determined.
Technical trading involves entering or exiting a position based upon predetermined points by the investor. For instance, some investors may favor a 50-day moving average (the larger the sample, the smoother the lines and the easier it will be to see a pattern) and will only buy once the price moves above a certain point on the chart. Other variations on this statistic include:
• Simple Moving Average (SMA)—is based upon the closing price
• Exponential Moving Average (EMA)—assigns more weight to recent prices while lowering the importance of days further in the past
In the end, the technical Forex traders are trying to identify trends and then capitalize upon them. The goal is to find the currency pair with the greatest pip movement and lowest volatility. Technical analysis helps investors determine the emergence of new trends in currency pairs so that they can profit from them but no strategy will work with 100% accuracy because at the end of the day—the market is always right even when we believe our analysis is perfect!

Developing Your Skills For Consistent Profits in Forex Trade

There are several Forex Trading Tools available to a trader. Yet with the multitude of such tools, the number of traders that make it to consistent profits are still so few. So the question that begs to be asked is:Metlife variable annuity

If it's not the forex trading tools that make a successful trader, then what does?

Some of the tools required to trade the forex currencies are obvious and basic. At the same time, there are quite a few others that aren't. Yet it is these less obvious tools, while not having a direct impact on your trading results, influence your forex trading success in very subtle and important ways.

One of the reasons why forex traders find it so difficult to find success is not having the ability to see how everything works together in the forex markets. This ability to see the bigger picture is crucial to find success as a trader, because it influences the way you would use your trading tools to pull profits out of the markets.

The difference between novice traders and season traders is this:

Most novice traders only think about the minimum things required to start trading, while the experienced, seasoned traders often strive to utilize the maximum of the tools available to them.

In the game of forex trading, retail traders are usually the least informed and hold the weakest power to determine how the forex currencies. On the other hand, while the banks and large financial institutions have access to sophisticated forex trading tools, it doesn't mean as a retail trader, you require all these tools for forex trading success. But you DO need to have all the trading tools required for forex trading success.

So what do you need to start your forex trading career?

The Basic Forex Trading Tools to Start Trading

These are the basic forex trading tools that you obviously need in order to trade the forex currencies, but these aren't the only tools required for forex trading success:

1. Your Forex Trading Account 2. Your Forex Trading Platform 3. Your Forex Trading System 4. Your Forex Trading Risk Capital

In most cases, novice forex traders tend to think that this is all they need to become hugely profitable in the forex markets. It's so simple and easy, right? It's true, this is all you need to start trading. But what is not so obvious is that while this is what you need to START trading, it's not necessarily what's needed to be trading profitably!

Forex Trading Success is a journey where you, as a trader, are on a path of learning and growth. It's a journey from point A to point B, where point B is consistent forex trading profits.

To think that a novice trader can become wildly successful with just these four trading tools alone is thinking a towering 100 story building can be constructed with only a pencil, a piece of paper, and 4 bricks. Other elements and tools are used to build your forex trading business but because they are in the background of what's going on, they can be easily missed or dismissed in terms of their importance.

If these four tools are what is required for trading success, then we would have a lot more traders being profitable and rich, wouldn't we? 

Developing Your Skill To Use The Basic Forex Trading Tools

Developing your skill as a forex trader is necessary to become successful. The quality of the product is due to the quality of the craftsman. The more highly skilled you are, the more you are able to understand and utilize the nuances of forex trading tools.

On the surface, it may seem the skills required to use these forex trading tools would be the technical knowledge. Knowledge of how your trading platform works, how technical indicators are constructed, what they mean, and what would be the best ways of putting them together to create a forex trading system.

However, forex trading success isn't a two dimensional thing consisting only of your trading account and a trading system. In reality, it's a multi-dimensional thing that encompasses you not just as a trader but as a complete person. You have to learn a forex trading system suitable to you, the appropriate type of risk and money management strategies, developing a daily forex trading routine that matches what you want to accomplish in congruence with your actual life, maintaining your records and other supporting skills.

And these skills as a trader can't be bought with money. It takes time, effort and discipline to develop your trading skills. Not only that, it does require actual trading experience to understand what emotions you go through and how to manage them in your forex trading business.

While it may seem to be a lot of work and study, it's definitely possible to become a successful forex trader. Just don't expect it to happen overnight, or you will be sorely disappointed. Even the best of traders are constantly learning new things about the markets, the subtleties of trading and of themselves as traders and persons. Although with the right forex trading education and mentorship you can reduce the time taken, in most cases you'll still have to go through the experience of learning what it takes to be a successful forex trader.

Forex Trading Education for What You Need From It somebody

If you're absorbed to advance your money in the more good banking bazaar in the apple (AKA the forex market), the safest way to alpha is strengthen your foundation aboriginal with assisting forex Metlife variable annuity. The added avenue that you can accept is application an automatic trading system, but at atomic you charge accept the basal first, so leave that advantage for later.

The problems that best amateur traders accept in afterward assertive apprenticeship is the acquaint are accommodate too abundant detail. Contrary to what bodies (or the trainer) frequently believe, casting a agglomeration of theories on their acceptance won't accomplish them apprentice faster. Of course, you'll charge to apperceive how it works first, but there is no charge to advise Fibonacci action to a apprentice who almost accept the abstraction of advantage and allowance trading.

When you chase assertive education/course that do annihilation but abash you, it may be more good to bead the advance and attending for article more good and easier to understand. Here are what you should be attractive for:

1. Keep it Simple

To be a acknowledged trader, there is no charge to abstraction all strategies and trading systems accepted to men back the forex trading system bazaar exist. The advance should accept one or two accurate strategies to cull acceptable trades from the forex bazaar and those are what you charge to master; bethink that acquirements too abundant strategies will alone acquired "analysis paralysis", a accompaniment area you're ashore because the strategies are belie anniversary other. So, accustom yourself with the fundamental, adept the accurate strategies, and analysis it appropriate away. It is that simple.

The best way to analysis it is accessible a audience annual in an online forex broker. They are broadcast throughout the internet and you apparently accept apparent the massive advertisement in the anatomy of banner, argument ads, and so on. Some of them are betray brokerages and some added don't alike adapted by official banking authority, but for now it doesn't matter. Just accessible a audience annual and analysis your strategies there. I advance you accept a agent that use MetaTrader4 (MT4) trading platform.

2. Real Action is a allotment of the action

If all that you do in your forex trading apprenticeship are alone eat theories afterwards theories day in day out, again you're apprenticed to abort from apathy and advice overflow. The appropriate way to do it is convenance afterwards anniversary theories; this is area the audience annual will be useful. Everything that you charge in trading forex is provided in your trading platform, appropriately you can use it to analysis and convenance abounding things.

Forex Trading eBooks Download free

We have collected a number of Free E-Books collection on Forex Trading System for you from all over the internet. So, you can easily do know forex trading about. The link to the forex trading  e-books are given below:

Free ebooks on Forex Trading Collection

Do you know Forex trading?

An small introduction to Forex trading

The keyword "What is Forex Trading System?" is so Common these days, daily Means of People searching this long tail keyword from various countries.

So, actually forex trading is trading currencies to all over the world from various countries against each other. the word "Forex" is acronym of foreign Exchange currencies. 

Lets take an Example just for further briefing you, in europe the currency in circulation is called the Euro [EUR] and in the United States the currency they use is the US Dollar [USD]. So as a example of forex trade is to buy the Euro Spontaneously selling US Dollar$.  This process is known as Going Long on the EUR or USD.

Now, most of you will thinking of the word "going on" used in above paragraph.  its means Short position  finance.

The process of forex trading is basically done by the help of a market maker or something like that broker. As if you'r a forex trader you can choose a currency pair for forex trading that you might think to change in value and place a trade accordingly. Let's have an example, if you had purchased 2,000 Euros in January of 2010, it would have the lumsum cost you around $2,400 USD. Throughout 2010 the Euro’s value vs. the U.S. Dollar’s value increased. At the end of the year 2,000 Euros was worth $2,500 U.S. Dollars. If you had chosen to end your trade at that point, you would have a alot of gain of dollars.

Forex trades can be placed through a market maker or broker and the Orders can be placed with just a few number of clicks and the market maker then passes the order along to a partner in the Interbank Market to fill your position. When you are near to close your forex trade, the market maker closes the position on the Interbank Market and credits your account with the loss or gain on your luck. This can all happen literally within a few seconds. So at last i will just say forex trading is a business of Dream rich or Dream poor.

If you like this article please comment on it without putting links.