Recap of the Latest Global News By Cory Vi & Andrew Su on Jan 23, 2012 After rising to almost 1.3000 during the Asian session on Friday, it was one way traffic for the EUR in Asian trade. The common currency failed to hold onto gains despite the Institute of International Finance, the lobby group representing creditors negotiating with the Greek government, releasing a statement saying that “the elements of an unprecedented voluntary private-sector” accord are coming into place. An agreement will be vital and is a key milestone for Greece to receive further financing aid before it faces a EUR 14.5 billion bond payment in late March. However, the EUR is now staging a rally as European finance ministers meet in Brussels to discuss new budget rules and the Greek debt swap plan. Th
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Geopolitical tension appears to be taking over as the main catalyst for crude oil prices. Indeed, correlations with measures of risk appetite – the S&P 500 as well as the MSCI World ex US index – are substantially diminished as all eyes turn to the escalating saber-rattling between the West and Iran, with the EU now set to join the US in boycotting the country’s energy exports and setting off worries of a retaliatory shut-down of the Strait of Hormuz.
It remains unclear to what extent the parties are willing to compound the situation, leaving the WTI contract oscillating in a choppy range above support at 97.70. A break lower exposes resistance-turned-support at the top of a falling channel set from mid-November, now at 96.64.Alternatively, a push higher through immediate resistance at 101.28 initially targets the mid-November high at 103.35.
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January 19th, 2012 in
Forex News | tags:
Oil,
Oil Driven |
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Hi
I am receiving several mails each day about my market makers book.
‘How the market makers extract millions of dollars a day and how you can grab your share’
These questions all centre on how to read the book in digital format. Wel
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“To me, this is a no contest. I want to be liberated from watching the screen for hours on end on those days where the market goes nowhere. I also want to avoid psychological stresses as the market swings up and down. On good days, price moves directly to your target with barely a flicker. On other days, it gets there through a series of price gyrations. If you watch every move, your emotions are on a roller coaster as your paper profits expand and contract. The temptation to exit a trade early is sometimes huge.” David James Bennett
Hello:
On the battleground of the financial markets, this year’s battle has already begun in earnest and I’m determined to fight gallantly. Nevertheless, things don’t always go according to plan. You know
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January 17th, 2012 in
Forex News |
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Trades placed by optionFair
EUR/USD
Based on the Dailyforex analysis of the EUR/USD the trend is most certainly down, and each time the pair is heading up this gives us an opportunity to sell. The investment opportunity is on the following positions: “Low” or “Below”, “Touch Down” or “No Touch” on the EUR/USD. With optionFair™ Binary Options Trading Platform, I traded with $1,750 on the “Touch Down” instrument. This kind of option has a 77% return if the option hits the strike price prior to expiry.The market price for EUR/USD at the buying time (12:20) was 1.2662 and the target price 1.26571 for the 12:30 expiration. The option hit the strike price at 12:25 and I earned $1,342 in just 5 minutes!
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Traders and analysts have been developing market indicators for decades. Many of these indicators are simply measuring the same idea in only a slightly different way since most indicators are based on the same limited amount of market information. For any given time frame, there are only four price data points – the open, close, high and low. Indicators such as the relative strength index (RSI) and moving average convergence-divergence (MACD) use only closing prices. Moving averages generally use closing data, but can be based on any type of data. Because so many indicators are based on the same data, they tend to give similar signals. At the beginning of an up trend, many indicators will begin turning bullish and eventually any trend-following indicator will become bullish as prices rise.
In addition to providing similar signals, many indicators will fail to deliver clear signals in some cases. R Read more…