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TECHNICAL ANALYSIS
Our Analytical Department prepares daily technical analysis updates for major currency pairs – USD/JPY, USD/CHF, EUR/USD, and GBP/USD – with possibility to download and apply templates to your MetaTrader 4 Forex trading platform. These updates give ready-to-use trading ideas and market commentary for the upcoming trading session. We provide instant Forex SMS Signal service to our subscribers in Pakistan. Please visit Our SMS Forex Signal Service To Get More Information Continue reading
Forex Trading Tips
The retail forex markets are certainly in a boom time. Forex dealers are popping up like rabbits. Hundreds of thousands of people like you and me are trading the markets for a nice profit everyday. Brokers are making a killing from their spreads in these deals. Forex markets are volatile and hence present great profit opportunities as well as great risks to your capital. And if you aren’t careful your capital will quickly be lost by the markets. So what is the key? What is the secret to trading the forex markets successfully? We look at some forex trading tips in the following series of reports.
Some of the facts and measures we go through may be simple to some but may be new concepts altogether for other people. All in all every piece of information is critical to your understanding and succeeding in the forex markets, and hopefully our articles about forex trading tips will help you on your way. Continue reading
Forex Technical Analysis for Week 01/28–02/01
January 26th, 2013
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.3107 | 1.3185 | 1.3322 | 1.3400 | 1.3537 | 1.3615 | 1.3752 |
| GBP/USD | 1.5590 | 1.5667 | 1.5738 | 1.5815 | 1.5886 | 1.5963 | 1.6033 |
| USD/JPY | 85.78 | 86.92 | 88.92 | 90.05 | 92.05 | 93.18 | 95.18 |
| EUR/JPY | 112.94 | 114.98 | 118.67 | 120.71 | 124.40 | 126.44 | 130.13 |
| GBP/JPY | 135.58 | 137.41 | 140.57 | 142.40 | 145.56 | 147.39 | 150.55 |
| Continue reading |
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EUR/USD Down for the First Day in Three
EUR/USD retreated today after the two-day rally. The faster-than-expected growth of US durable goods orders increased traders’ confidence in the economy and the currency of the United States. At the same time, economists are worried that the report later this week may show an increase of the eurozone unemployment rate to the record 11.9%. Such worries weakened the euro.
Durable goods orders grew as much as 4.6% in December, beating the analysts’ forecast of 1.8%. The November growth was 0.8%. (Event A on the chart.)
Pending home sales dropped 4.3% in December from November, when they went up 1.6%. Experts have promised an increase by 0.5%. Still, the sales remained in an uptrend on an annual basis. (Event B on the chart.)
On Friday, a report on new home sales was released, showing that the sales were at the seasonally adjusted annual rate of 369k, below the forecast value of 387k and the November rate of 398k (revised from 377k). (Not show on the chart.)
EUR/USD Climbs to Highest Since 2011
EUR/USD was falling today, but later rebounded and touched the highest rate since December 2011. The Forex market is in the risk-on mode and that drives the currency pair higher. The US data was mixed today as the housing market continued to show signs of strength, but consumer sentiment dropped more than was expected. As for news from Europe, the German consumer climate was stable, indicating that the economic environment in Europe is improving. (Event A on the chart.)
S&P/Case-Shiller home price index rose from 144.08 in October to 144.99 in November. The annual growth was 5.5%, matching forecasts exactly. The year-on-year increase in October was 4.2%. (Event B on the chart.)
Consumer confidence fell from 66.7 in December (revised up from 65.1) to 58.6 in January. Analysts have hoped for higher reading of 64.8. (Event C on the chart.)