Daily Shot Of Forex News From Our Experts

Easy Forex Daily Outlook ... Posted: 24 Apr 2008 07:53 AM CDT FOREX Daily Outlook by Easy-Forex.com Euro breaks the key 1.60 level following hawkish outlook for the Euro Zone. Aussie CPI due out today. CURRENCY TRADING SUMMARY – 23 APRIL 2008 (00:30GMT) · U.S. Dollar Trading (USD) weakened yesterday as hawkish comments coming from the Euro Zone pushed the Euro to a record high of 1.6018 against the greenback. Traders are now adding

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GBP continues to slide. BoJ unanimous in holding rates
From EASYFOREX...

CURRENCY TRADING SUMMARY – 21 DECEMBER 2007 (00:30GMT)

· U.S. Dollar Trading (USD) was range bound on Thursday, supported by sturdy GDP data, released above expectations at 4.9% fort the third quarter. In other news Core PCE was released at 2% (Forecast: 1.8%), whilst the Philly Fed survey was seen at -5.7 for the month of December. In U.S. share markets the NASDAQ was up 39.85 points (+1.53%) whilst the Dow Jones was also up 38.37 points (+0.29%). Crude oil rose by US$0.49 a barrel to US$91.73 following an incident involving two oil tankers in the Suez Canal.
Looking ahead, the Michigan sentiment survey will round up a data filled week for the US economy.


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Forex Trading News

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Here is the latest stuff from the markets...
USD continues its rally on mixed data. Focus on US Housing Starts and UK CPI.

CURRENCY TRADING SUMMARY – 18 DECEMBER 2007 (00:30GMT)

U.S. Dollar Trading (USD) rose to seven week high against the Euro and was able to rally against a number of other majors, all but the sterling pound.

The moves were attributed to easing concerns that the worst housing slump in 16 years would cause an economic recession, hence also reducing the likelihood of the Federal Reserve cutting rates as early as next month.

In data specific news, TIC flows for the month of October were well above expectations coming in at 97.8 bln (previous was revised lower to -32.8 bln), whilst the currency was also boosted by the Current Account (Q3) coming well above of consensus at 178.5 bln (Forecast: -183 bln; Prior: -189R).

Any further moves were capped with NY Fed Manufacturing coming lower than expectations.

In U.S. share markets the NASDAQ was down by -169.70 (-1.75%) whilst the Dow Jones was also down by -172.65 (-1.29%).

Crude oil was lower by US$0.60 a barrel to US$90.67.

Housing starts appears to be key data release out of the US on Tuesday as the housing sector continues to be the hottest topic in 2007.

(Keep an eye on the housing data to show the way forward...)

Predictions Of Forex Trading

FOMC minutes confirms a “close call” and a projected slow down in economic growth for 2008

CURRENCY TRADING SUMMARY – 21 NOVEMBER 2007 (00:30GMT)

U.S. Dollar Trading (USD) eased against a basket of majors and traded at a record low versus the Euro and Swiss Franc on concerns that ongoing credit losses may prompt the Federal Reserve to lower interest rates again this year. Surprisingly the FOMC minutes of the October 31 meeting was contradictory to the view describing the most recent rate cut a “close call” whilst the reduction had provided assurance against “an unexpectedly severe weakening in economic activity”. Yet the minutes did confirm that GDP for 2008 was expected to slow. In U.S. share markets the NASDAQ was down +3.43 (0.13%) Dow Jones 51.70 (0.4%). Crude oil prices finished the session up by US$0.44 a barrel to US$98.47


In my last post, I predicted this record low!
Read about it below...

Forex ... How To..

This is my take on How to extract the (possible) market moves from the daily summary feed...

This article provides insight into the two major methods of analysis used to forecast the behavior of the Forex market...

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Let's get started...

Here is a snippet of the latest currency trading news
19th November 2007

>>>>>>

USD weaker as Fed warns on future rate cuts. Rebounding stocks reignite carries.

CURRENCY TRADING SUMMARY – 19 NOVEMBER 2007 (00:30GMT)

· U.S. Dollar Trading (USD) was volatile once again on Friday triggered by comments made from the Central bank. (1)

Federal Reserve Governor Kroszner warned markets that policy makers may not look to lower borrowing costs further from the current 4.5% levels in order to weather a “rough patch” in the upcoming 12 months, despite major financial institutions having announced more than $50 billion worth of write downs in relation to sub-prime mortgages. (2)

In data news, Capital Net Flows failed to give the greenback any added support coming in well below expectations for the month of September at 26.4 billion, forecasts were at 70 billion. (3)

Production contracted over the month of October with Industrial output falling from 0.2% for the previous month (revised) to -0.5% (Forecasts: 0.1%) pushing the currency lower by 0.3% versus the Euro. (4)

(1) The central bank made comments.. And the dollar was then more volatile...
(2) Lenders trying to attract more borrowers by lowering rates?
The Reserve bank governer said don't try it..
(3) No support for the greenback...
(4) Production contraction

This all means to keep your bets on the US dollar to drop...

ps..
This weekend the Australian Government elections are on.
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I'll put the technical details into Forex Killer and see...
I'll keep you posted...

pps...
Many profitable trades are made moments prior to or shortly after major economic announcements.

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This incredible training gives new and experienced traders alike all the necessary tools to start buying and selling currencies in the foreign exchange market.

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* No additional collateral required for trading (no "maintenance margin");

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* No hidden costs;

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* Full transparency, full control, highest data security and privacy;

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Easy-Forex offers you a first-rate Forex trading platform and an unmatched degree of service.

Real-time dealers available for You, 24/7

Finally, trading foreign exchange is exciting and potentially very profitable, but there are also significant risk factors.
It is crucially important that you fully understand the implications of margin trading and the particular pitfalls and opportunities that foreign exchange trading offers.
However, if you are ever in doubt about any aspects of a trade, you can always discuss the matter in-depth with one of our dealers.

They are available 24 hours a day.

Easy-Forex offers:

• 24-hr commission-free trading in 14+ currency pairs.
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Forex Mini Trading Killer Tips

The Foreign Exchange market...

Also referred to as the "FOREX" or "Forex" or "Retail forex" or FX or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of about $2 trillion a day.

If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is.
What is traded on the Foreign Exchange?

The simple answer is money. Get your share here...

It actually equates to more than three times the total amount of the stocks and futures markets combined!

Forex trading is the simultaneous buying of one currency and the selling of another.

How is that done? Using Killer Software?

Currencies are traded through a broker or dealer, and are traded in pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).

Because you're not buying anything physical, this kind of trading can be confusing.
Think of buying a currency as buying a share in a particular country.

When you buy, say, Japanese Yen, you are in effect buying a share in the Japanese economy, as the price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.

In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to the other countries' economies.

Unlike other financial markets like the New York Stock Exchange, the Forex spot market has neither a physical location nor a central exchange.

When selling, the exchange rate tells you how many units of the quote currency you get for selling one unit of the base currency.
In the example above, you will receive 1.7500 U.S. dollars when you sell 1 British pound.
The base currency is the basis for the buy or the sell.
If you buy EUR/USD this simply means that you are buying the base currency and simultaneously selling the quote currency.
You would buy the pair if you believe the base currency will appreciate (go up) relative to the quote currency.
You would sell the pair if you think the base currency will depreciate (go down) relative to the quote currency.

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Forex Profit And Forex Trading

Last Week’s Currency Trading Review

The Dollar had relatively mixed data throughout the week yet managed to weaken further across the board, as the G7 meeting loomed.

With so much emphasis placed on the Housing sector, Housing Starts recorded it’s lowest level in 14 years, prompting investors to price in further rate cuts out of the Federal Reserve, even as early as Oct 31.

The G7 summit failed to address the recent weakness in the USD, with most emphasis being placed on accelerating strength on the Chinese Yuan.

The Euro continued to gain in momentum trading at a record high of 1.4317 in the latter part of the week.

Much of the moves came on the back of a broadly weaker USD, as the housing downturn continued.

The Euro closed last week at 1.4286 having opened at 1.4175.

The Japanese was one of the biggest gainers versus the USD, in a highly volatile market.

With little data out of Japan, The Yen traded on the back of other currencies, buoyed by the unwinding of carry trades, triggered by a revision lower of global growth, and a plunge in stock prices.

The Japanese Yen closed last week at 114.87 having opened at 117.48.

The GBP touched fresh high since July reaching 2.0522 on Friday, supported by sturdy reading in GDP and Retail Sales, reducing expectation of near term rate cuts by the BoE.

The Pound closed last week at 2.0492 having opened at 2.0343.

The AUD was one of the worst performed currencies despite a weaker dollar.

In market led by risk aversion, the AUD suffered as a high yielding currency.

The Aussie Dollar closed last week at 0.8900 having opened at 0.8971.

Current Rates

Euro 1.4330

Initial support at 1.4203 (38.2% retracement of the 1.4015 to 1.4319 advance) followed by 1.4131 (61.8% retracement of the 1.4015 to 1.4319 advance).
Initial resistance is now located at 1.4319 (Oct 19 trend high) followed by 1.4369 (1.0410 plus 1.3360 – 1.3719)

· Yen 113.75

Initial support is located at 114.65 (61.8% ret of 112.61 to 117.95 adv) followed by 113.67 (76.4% retracement of the 112.61 to 117.95 advance).
Initial resistance is now at 115.72 (Oct 19 high) followed by 116.64 (Oct 18 high).

Pound – 2.0500

Initial support at 2.0384 (Oct 18 low) followed by 2.0288 (Oct 17 low).
Initial resistance is now at 2.0525 (Oct 19 high) followed by 2.0562 (Jul 26 high)

Australian Dollar – 0.8860

Initial support a 0.8817 (Oct 17 low) followed by 0.8795 (Oct 4 reaction low).
Initial resistance is now at 0.8994 (Oct 19 high) followed by 0.9013 (Oct 16 high).

Gold – 757.40
Initial support at 752.05 (Oct 17 low) followed by 748.05 (Oct 15 low). Initial resistance is now at 771.50 (Oct 19 trend high) followed by 774.90 (This weeks open + (last weeks range * 0.618)

Forex trading involves substantial risk of loss, and may not be suitable for everyone.


Click here to visit Easy-Forex.com

Easy-Forex™ offers the simplest and quickest registration process, no obligation;

Deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex™;

This can be as little as $25 USD, then, Start Trading.

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Easy-Forex™ offers real people service, live, in your own language.

@ Easy Forex .. Forex Trading Made Easy

You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit.

It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa - buy dollar and sell Euro.

You don't have to physically possess certain currencies in order to perform "buy" or "sell" with them.

How do I start?

Register

Easy-Forex™ offers the simplest and quickest registration process, no obligation; deposit your first trading "margin" amount and credit cards are welcome, only by Easy-Forex™;

Start Trading.



It can't be simpler or easier than that.

Need help? We'll provide you with 1-on-1 training and service, as much as necessary
Easy-Forex™ offers real people service, live, in your own language.



How do I trade Forex?



You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the "margin" (collateral needed to facilitate the deal. Usually - only a very small portion of the whole deal, say: 1% or 1:100).



Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The "freeze" feature is a unique service by Easy-Forex™.



When your Forex deal is running (you hold an "open position"), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover, Easy-Forex™ lets you determine a "take-profit" rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions.



Want to know more? Want to get on-line training?
Register here (simple, quick, no obligation) We'll be glad to guide you, every step of the way.



Good luck!



DISCLAIMER

Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Forex Trading Explained

Forex ? FX ? or 4X ?
What is it, anyway?

The currency trading or foreign exchange (FOREX) market is the biggest and fastest growing market on earth.

Its daily turnover is more than 2.5 trillion dollars.

The participants in this market are banks, organizations, investors and private individuals, just like you. (click here to read full market background by Easy-Forex™).

The goods (merchandise) Markets are places to trade goods, and the same goes with FOREX.

The Forex goods are the currencies of various countries.

You buy Euro, paying with US dollars, or you sell Japanese Yen for Canadian dollars.

That's all there is to it.

How does one profit in Forex?

Simply put, buy cheap and sell for more!

The profit potential comes from the fluctuations (changes) in the currency exchange market.

The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex™ offers trading ratios from 1:50 to 1:200).
How risky is Forex trading? You cannot lose more than your "margin" (your initial investment)!

You may profit unlimited amounts, but you never lose more than what you initially risked.

However, risk only what you can afford, an amount that is not vital for your well-being.

How do I start trading? Register (Easy-Forex™ offers the simplest and quickest registration process, no obligation);

Deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex™); Start trading. How do I monitor my Forex trading?

Online, from anywhere, anytime.
You have full control to monitor status, check scenarios, change some terms in the deal, or close it.

Want to know more?
Want to get on-line training? Register here (quick, no obligation),

We'll be glad to guide you, every step of the way. Good luck!

Forex trading involves substantial risk of loss, and may not be suitable for everyone.


A Major Factor in the internet Forex trade, is selecting the best TRADING PLATFORM, the one that would generate a high income, this platform is the world leading Easy-Forex™ Trading Platform.

As for Forex traders (the users), here are some of the reasons why they prefer Easy-Forex™
* Free and simple registration, start in 5 minutes;
* 24x7 online from any computer, anywhere, no download;
* Regulated (USA; UK; Australia; EU);
* Instant deposits and profit withdrawals with credit cards or PayPal;
* Start trading from as little as $50;
* No additional collateral required for trading (no "maintenance margin");
* Unique "Freeze rate" trading feature (accept or regret);
* No hidden costs;
* Working with reputable business partners and world leading banks;
* Full transparency, full control, highest data security and privacy;
* Special tailor-made terms to individuals traders;
* Free 1-on-1 live training by experts;
* Personal service by real people with real names and addresses;
* Special incentives to frequent traders;
* Portfolio manager programs;

* More ...

Momentum Trend Trader

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