When investors want to analyze charts, they do so via the help of trend lines. Although we find the market moving in a zig-zag 
direction, we can draw points on the upper and lower portions of the peaks and troughs of price actions in a view to get lines. Although, this process have become simplified with the use of software/applications embedded on trading platforms.
If you wish to draw trendlines, there are two vital lines that are very important, while the third line would be for the confirmation of the contact point. When drawing trendlines, we must employ the peaks and the troughs. The lines have to be parallel and should be positioned on opposite sides of the channel.
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Friday afternoon saw the US economy post 200,000 new jobs in December, making that the sixth consecutive positive month according to official figures. This came much higher than the anticipated 150,000 jobs and reduces the overall unemployment rate down from 8.7% to 8.5%. The main areas of job growth were seen in retail, manufacturing, transportation and warehousing and healthcare. The news did not help the Euro’s cause as it continued its decline against the Greenback falling below under 1.27 for the first time since autumn 2010. US markets also struggled with the Dow Jones and S&P 500 indexes both closed lower as they remain concerned over the eurozone debt crisis. The report did however provide some political collateral for the Obama Administration during an election year and said the US economy was “moving in the right direction”.
Over to Europe and Mario Monti the Italian PM has asked for all his European counterparts for their full support in implementing austerity measures to stabilise the Euro. “Euro
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***Economic Data***
– (EU) ECB: €1.5B borrowed in overnight loan facility v €1.4B prior; €481.9B parked in deposit facility €463.6B prior
– (FI) Finland Oct GDP Indicator: 1.1% v 1.4%e
– (FI) Finland Nov Industrial Production M/M: +0.5% v -0.1%e; Y/Y: -3.5% v -3.4%e
– (FR) Bank of France Dec Business Sentiment: 96 v 95e
– (FR) France Nov Manufacturing Production M/M: +1.3% v -0.4%e; Y/Y: +2.2% v -0.1%e
– (FR) France Nov Industrial Production M/M: +1.1% v -0.2%e; Y/Y: +0.9% v -0.4%e
– (DK) Denmark Nov Retail Sales M/M: -0.5% v 0.0%e; Y/Y: -1.8% v -3.6% prior
– (DK) Denmark Dec CPI M/M: 0.0% v 0.0%e; Y/Y: 2.5% v 2.5%e
– (DK) Denmark Dec CPI EU Harmonized M/M: 0.0% v 0.0%e; Y/Y: 2.4% v 2.4%e
– (ES) Spain Nov House transactions Y/Y: -14.4% v -18.0% prior
– (PH) Philippines Nov Bank Lending Y/Y: 19.3% v 21.1% prior; Net of RRPs Y/Y: 22.5% v 22.2% prior
– (SE) Sweden Dec Budget Balance (SEK):-90.8B B v +5.5B prior
– (SE) Sweden Nov Industrial Production M/M: -1.9% v -0.8%e; Y/Y: 0.2% v 2.5%e
– (SE) Sweden Nov Industrial Orders M/M: -4.8% v -1.8% prior; Y/Y: -8.4% v -5.0% prior
– (NO) Norway Dec CPI M/M: 0.1% v 0.3%e; Y/Y: 0.2% v 0.5%e
– (NO) Norway Dec CPI Underlying M/M: 0.2% v 0.2%e; Y/Y: 1.0% v 1.0%e
– (NO) Norway Dec Producer Prices (incl oil) M/M: 0.2% v 0.3%e; ; Y/Y: 8.2% v 12.9%
– (ZA) South Africa Dec SACCI Business Confidence: 99.1 v 97.4 prior
– (ZA) South Africa Dec Naamsa Vehicle Sales Y/Y: 11.0% v 8.5%e
Fixed Income:
– (ZA) South Africa sold total ZAR2.1B vs. ZAR2.1B Read more…
January 6th, 2012 in
Forex News |
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USD/JPY: Daily
USD/JPY doesn’t normally move much, but when it does, you can be sure that the move will be great. In this case, we’re seeing the pair consolidate as it climbs slowly to the 79.50 level. If price manages to get up that level, we may see the bears jump in again and push the pair lower. It has happened twice in the past already, so it is likely that the third test will also result in the same thing.
AUD/USD: Daily
If you’re really bullish on the Aussie, then you’ll be very happy to know that the long-term timeframe shows that it is going up! The pair just found significant support at the rising trend line support, and from the looks of it, it still has a loooooooong way to go.
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Expert advisors are very convenient in that they trade a user’s strategy around the clock. Unfortunately, having your computer trade for you around the clock requires a system that is stable and always online.
And that’s where a virtual desktop interface (VDI) comes in: a secure connection to a server with 99.5% up-time with redundant backup power. VDI services take the traditional Forex VPS model to the next level by offering traders a dedicated virtualized machine as opposed to space on a large shared server like most standard VPS products. In
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January 2nd, 2012 in
Forex Trader |
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Fundamental Headlines
European Session Summary
Higher yielding currencies advanced slightly against the U.S. Dollar in the overnight, but data ahead of the North American trading session helped the Greenback take back some of its losses. A slew of American data at 13:30 GMT painted a cloudy picture as to where the United States’ economy is headed, weighing on risk-appetite. While labor market data beat expectations, the third quarter growth revision showed that the American economy grew at a 1.8 percent pace, versus the originally reported 2.5 percent estimate.
Today’s prints are a microcosm of the facts policymakers currently face: overall data is good, but it is not as strong as desired. As
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