Jan26

Weekly Forex Market Forecast (January 23rd – January 27th 2012)

by Owner on January 26th, 2012 at 7:34 am
Posted In: Best Forex Info

Key Fundamental Forex Events and Forecasts for the Coming Week

The following table lists the key economic data and other events that are due out during the week of January 23rd – January 27th, with release times displayed for the GMT time zone.

The list also includes the current market consensus forecast for each event and indicates what sort of deviation might affect the forex market valuation of the indicated currency positively.

Monday, January 23rd

  • 12:30am AUD PPI (0.4%, > good for currency)

Tuesday, January 24th

  • Tentative JPY Monetary Policy Statement (hawkish = good for currency)
  • Tentative JPY Overnight Call Rate (<0.10%, > good for currency)
  • Tentative JPY BOJ Press Conference (hawkish = good for currency)
  • 9:30am GBP Public Sector Net Borrowing (12.7B, < good for currency)
  • 1:30pm CAD Core Retail Sales (0.2%, > good for currency)
  • 8:00pm GBP BOE Governor King speaks (hawkish = good for currency)

Wednesday, January 25th

  • 12:30am AUD CPI (0.2%, > good for currency)
  • 9:00am EUR German Ifo Business Climate (107.7, > good for currency)
  • 9:30am GBP MPC Meeting Minutes (0-0-9, > good for currency)
  • 9:30am GBP Preliminary GDP (-0.1%, > good for currency)
  • 3:00pm USD Pending Home Sales (-0.3%, > good for currency)
  • 7:15pm USD FOMC Statement (hawkish = good for currency)
  • 8:00pm NZD Official Cash Rate (2.50%, > good for currency)
  • 8:00pm NZD RBNZ Rate Statement (hawkish = good for currency)

Thursday, January 26th

  • All Day AUD Bank Holiday
  • 1:30pm USD Core Durable Goods Orders (1.0%, > good for currency)
  • 1:30pm USD Weekly Initial Jobless Claims (371K, < good for currency)
  • 3:00pm USD New Home Sales (322K, > good for currency)

Friday, January 27th

  • 10:30am CHF KOF Economic Barometer (-0.06, > good for currency)
  • 1:30pm USD Advance GDP (3.1%, > good for currency)

Technical Forecast and Levels to Watch for the Majors This Week

EURUSD: Mildly Lower

Resistance:
Initial: 1.2946, 1.2957, 1.2968, 1.2983, 1.3000, 1.3055/76, 1.3145 and 1.3197.
Above: 1.3211, 1.3241/58, 1.3281, 1.3334, 1.3362, 1.3433/95, 1.3546/68, 1.3614 and 1.3795/98.

Support:
Initial: 1.2917, 1.2886, 1.2873/77, 1.2857, 1.2665, 1.2643, 1.2625 and 1.2586.
Below: 1.2623, 1.2484, 1.2329 and 1.1876.

USDJPY: Mildly Lower

Resistance:
Initial: 77.00/13, 77.29/33, 77.48/49, 77.61/89, 78.06/16, 78.22, 78.28, 78.66, 79.05, 79.40, 79.52, 79.96, 80.00, 80.22 and 80.82.
Above: 81.34, 81.76, 82.01/22, 82.77, 83.09 and 83.77.

Support:
Initial: 76.83, 76.41/66, 76.10, 75.94 and 75.70.
Below: 75.65, 75.56, plus 75.00 and 70.00 likely.

GBPUSD: Mildly Lower

Resistance:
Initial: 1.5557/85, 1.5624/29, 1.5668, 1.5685/91 and 1.5717.
Above: 1.5735/45, 1.5770/74, 1.5868/90, 1.6092, 1.6128 and 1.6164.

Support:
Initial: 1.5531/37, 1.5516, 1.5465/99, 1.5422, 1.5410, 1.5375, 1.5293, 1.5270/77, 1.5232, 1.5123 and 1.5000.
Below: 1.4947, 1.4782, 1.4769, 1.4474, 1.4345 and 1.4229. 

AUDUSD: Higher

Resistance:
Initial: 1.0498, 1.0608 and 1.0654.
Above: 1.0718/84, 1.1010 and 1.1079.

Support:
Initial: 1.0444, 1.0384, 1.0303, 1.0266, 1.0224/29, 1.0216, 1.0100/16, 1.0000/52, 0.9925/83, 0.9900, 0.9861/63 and 0.9732.
Below: 0.9689, 0.9661/67, 0.9651, 0.9620/27, 0.9536/41 and 0.9500.

USDCAD: Mildly Lower

Resistance:
Initial: 1.0160, 1.0172, 1.0199, 1.0207/32, 1.0262/87, 1.0297, 1.0302, 1.0334/37, 1.0415/23, 1.0438, 1.0481, 1.0500, 1.0506 and 1.0522.
Above: 1.0646/56, 1.0669, 1.0742, 1.0756, 1.0785.1.0853, 1.0868, 1.1000 and 1.1101/23.

Support:
Initial: 1.0105/42, 1.0026/78, 0.9969 and 0.9934.
Below: 0.9891, 0.9828/77, 0.9724/96, 0.9686 and 0.9645.

NZDUSD: Higher

Resistance:
Initial: 0.8066, 0.8080, 0.80/93, and 0.8109/90.
Above: 0.8240, 0.8571 and 0.8841.

Support:
Initial: 0.7993/96, 0.7979, 0.79550.7906, 0.7855/88, 0.7827/36, 0.7804/09, 0.7795, 0.7723/73, 0.7605/72, 0.7568 and 0.7500/52.
Below: 0.7404/67, 0.7369, 0.7342, 0.73210.7189, 0.7115 and 0.7000.

 

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Jan18

Obama speach @7 expect the same old junk

by Owner on January 18th, 2012 at 11:22 am
Posted In: Uncategorized

Obama speach @7 expect the same old junk, summary of speach will be posted, STAY TUNED

Forex tips | Forex trading strategies | Forex advice

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Jan10

Gold up $52 @1867.09 Silver up $0.75 @42.31

by Owner on January 10th, 2012 at 12:46 pm
Posted In: Uncategorized

Gold up $ 52 @1867.09 Silver up $ 0.75 @42.31

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Jan06

Get proper advice and tips on forex investment to win over debt

by Owner on January 6th, 2012 at 1:51 pm
Posted In: Uncategorized

Forex trading and investment can help you make extra money. But, if you are interested in forex and if you want to make a decent income through forex trading, you will have to know all of the details of forex and how the market works. If you can make money out of forex trading, you may also be able to use the revenue from forex trading to make debt payments and get out of debt.

Forex trading and the details

Forex is the financial market where trading of different currencies takes place. The currencies are in general, traded in pairs and it can really work towards your benefit if you can get all the details of the currencies. The forex market is one of the busiest financial markets and the reason behind this perhaps is the fact that it remains open 24 hours. The amount of trade that takes place in the market far exceeds the amount of trade that takes place in stock markets taken together.

In order to trade currency in this market, you will have to be aware of the value of the currency you are going to trade. The better the value of the currency, the better will be the chances of you profiting from forex trading. The value of currencies depends on the financial status of the country.

Forex trading tips

Some of the forex trading tips that can help you make money are:

  1. Get to know forex details – In order to start trading in forex, it is important for you to know all of the details of the forex market. In addition, you will have to know the different terms that are used in forex trading and the charts which are again important in forex trading. You can also get a proper forex education as this can help you a lot towards bettering your trade strategies.
  2. Keep a check on financial news – You will always have to keep a check on the financial news both global and the country whose currency you are planning to start your trade. Depending on the financial status the value of currencies rise or drop.
  3. Talk to a forex broker – You will have to talk to the forex broker regarding the trade. The main thing is that you will have to decide as to where you would like to trade. Thus, it is also important for you to choose the right broker. The brokers can also give you the depth training programs. Different brokers even offer different kinds of trading platforms as per the needs of the trader.
  4. Get details of the market structure – In order to do forex trading, it is important for you to get all of the details of the structure of the forex market. You need to know that trading in forex market is based on the Over the Counter or OTC trading system.

In addition to this, you will have to keep in mind some other factors too. For example, if you are a new trader, you should always try to follow the market trend rather than trying to trade against the market trend. Then, you should not ever, risk more than 2 to 3% of your forex trading account. Other than this, you can also consider practicing with a demo forex account rather than directly starting off with a real account. Furthermore, you can also talk to your friend or relative who are experienced in forex trading. This can help you a lot towards getting the right view of the market.

Forex tips | Forex trading strategies | Forex advice

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Jan02

Weekly Forex Market Followup (December 26th – December 30th 2011)

by Owner on January 2nd, 2012 at 5:45 pm
Posted In: Best Forex Info

Key Fundamental Forex Events for the Week of December 26th through December 30th

The following table lists the key economic data and other events that came out during the week of December 26th through December 30th, with release times displayed for the GMT time zone.

The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events.

Monday, December 26th

  • 11:50pm JPY Monetary Policy Meeting Minutes noted that, “At the unscheduled Monetary Policy Meeting held today, the Bank of Japan, in cooperation with the aforementioned central banks, decided to take measures to address recent pressures in global money markets. Specifically, interest rates on the fixed-rate U.S. Dollar funds-supplying operations currently conducted by the Bank of Japan will be reduced by 0.5 percentage points, for operations conducted from December 5.” The JPY rose slightly.

Tuesday, December 27th

  • 7:00am CHF UBS Consumption Indicator 0.81 versus last 0.91. The CHF rose slightly.
  • 2:00pm USD S&P/CS Composite-20 HPI -3.4% versus -3.2% expected.
  • 3:00pm USD CB Consumer Confidence 64.5 versus 58.5 expected. The USD fell overall.
  • 11:30pm JPY Household Spending -3.2% versus -1.1% expected.
  • 11:30pm JPY Tokyo Core CPI -0.3% versus -0.4% expected.
  • 11:50pm JPY Preliminary Industrial Production -2.6% versus -0.7% expected.
  • 11:50pm JPY Retail Sales -2.3% versus 0.1% expected. The JPY rose.

Wednesday, December 28th

  • 1:30am JPY Average Cash Earnings -1.0% versus 0.1% expected. The JPY fell.
  • 10:30am CHF KOF Economic Barometer 0.01 versus 0.25 expected. The CHF fell.
  • Tentative USD Treasury Currency Report noted that, “China’s long-standing pattern of reserve accumulation, the persistence of its current account surplus and the incomplete appreciation, especially given rapid productivity growth in the traded goods sector, indicate that the real exchange rate of the renminbi is persistently misaligned and remains substantially undervalued.” The USD rose.

Thursday, December 29th

  • All Day EUR German Preliminary CPI 0.7% versus 0.8% expected.
  • 9:00am EUR M3 Money Supply 2.0% versus 2.5% expected. The EUR rose.
  • 1:30pm USD Unemployment Claims 381K versus 370K expected.
  • 2:45pm USD Chicago PMI 62.5 versus 60.4 expected.
  • 3:00pm USD Pending Home Sales 7.3% versus 1.4% expected.
  • 4:00pm USD Crude Oil Inventories 3.9M versus last -10.6M. The USD was mixed.

Friday, December 30th

  • 12:30am AUD Private Sector Credit 0.3%, as expected. The AUD rose.
  • 2:30am CNY HSBC Final Manufacturing PMI 48.7 versus last 49.0.
  • 7:00am GBP Nationwide HPI -0.2% versus 0.3% expected. The GBP rose.

Technical Recap for the Majors This Week

EURUSD:

Forecast: Lower
Actual: Mildly lower from a 1.3046 open to a 1.2981 close.

USDJPY:

Forecast: Mildly Higher
Actual: Mildly lower from a 77.99 open to a 77.07 close.

GBPUSD:

Forecast: Mildly Lower
Actual: Mildly lower from a 1.5596 open to a 1.5540 close.

AUDUSD:

Forecast: Higher
Actual: Mildly higher from a 1.0158 open to a 1.0209 close.

USDCAD:

Forecast: Mildly Lower
Actual: Mildly lower from a 1.0210 open to a 1.0161 close.

NZDUSD:

Forecast: Higher
Actual: Mildly higher from a 0.7734 open to a 0.7805 close.

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