Most of us will at some point wish we could trade in our day job for something that can make us a lot of profit in a short space of time. Well with a career in forex trading you can. Like any job a career in forex trading requires a lot of research, careful planning and testing, but once you have a couple of winning strategies you are in a good position to take advantage of the fluctuations in the forex markets and earn a decent profit. However, becoming a trader is not the only career available in forex trading.
One African Currency
Posted on January 27th, 2012
African currencies are hardly considered significant when it comes to forex trading and global markets, but with a single currency being proposed by the African Union for implementation in 2023, it’s worth speculating about what it could mean for the continent.
The hypothetical names being proposed are the Afro and the Afriq. Interestingly, the suggestion of a single currency, though rejected as impractical at the time of suggestion, was originally made by Muammar Gaddafi. The unpopular warmonger also wanted a single military force and passport system, but his monetary idea obviously planted a seed that’s been steadily growing.
Forex Forecasting – How Technical Analysis Predicts Trade
Posted on January 27th, 2012
For the currency trader, forex forecasting is one of the most useful tools that he or she can have in her arsenal to be able to predict the outcomes of the market and give themselves an upper hand in the markets. In the realm fo trading forecasting in the forex markets can be used by traders to indicate to them what the changes in the trading market may become and these rest on two different types of forecasting. Firstly, and often more of a prophesising method of forecasting is the science of fundamental analysis.
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Yuan rose, weakening dollar, stronger GDP data
Posted on January 23rd, 2012
A better GDP data is been marked up than expected. The dollar is therefore weakened when compared with that of the Yuan value raised. A stronger central bank mid point is been obtained due to the Yuan value raised with that of the Gross Domestic Product rate, on Wednesday.
The central bank has set the midpoint at 6, 3205 and on Wednesday the Yuan was at 6.3120. Nevertheless it is 30 pips higher than its previous days (Tuesdays) close. Yuan earned appreciation in its recent week with that of the fear in the economy slowing down.
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Sterling hits 17 month low against dollar, high against euro
Posted on January 16th, 2012
On Friday, the sterling was high against the struggling euro. The euro for past week it was reported to be 16 month low against dollar however on Friday they said that euro has been at 17 month low. Later on a day count the sources for the euro zone government informed that the Standard & Poor cut the ratings to low grade.
Warning was made on December regarding the cuts in the rates. This lower of rating has been across several countries and even the Germany was not included in the list.
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Yuan gradually down against dollar, Chinese trade in narrow range
Posted on December 26th, 2011
PCB (People’s Bank of China) set the weaker midpoint and after that on the forex trade the Yuan has slipped or fell slightly against the dollar value. However Chinese traders have informed that they would mostly trade in a narrow range of value. Yuan seems to have some potential depreciation because the pressure of the bank has been terribly imposed on the Yuan which caused the pullback in the value of it.
Dealer from the Beijing bank reported that the trading value seems to be so volatile. There seemed a strong intention on the Yuan depreciation because when the Yuan hit the range of 6.35 and at that time the central bank intention was totally focused on bringing down the Yuan.
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An Introduction to Candlestick Charts
Posted on December 8th, 2011
Candlesticks were originally developed by Japanese traders who used it to analyze the price-movements only in RICE commodity and find the weakening trends and the potential trend reversals. Those days, candlesticks came in many colors including Blue, yellow, Green and the red but over a period of time, candlesticks have lost their colors. Now they come only in Green and Red but that doesn’t mean that they have lost the respect they command. The application of Candlesticks has got even finer now with multiple applications, chart reading patterns and trading opportunities coming out of these and thus the reason why candlesticks still continue to enjoy the patronage of the best of the traders, financial institutions and also the Banks.
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Sigh of relief on euro debt crisis, euro holds steady
Posted on December 3rd, 2011
Traders and investors on the euro debt crisis have breathed a sigh of relief as the euro holds strong against dollar and yen. The sales rate of the European bonds has raised their confidence level in the debt. Now it is $1.3456 and 104.68 yen per euro in the forex market trade in the afternoon in Tokyo.
Nevertheless on Thursday in the close on New York trade it was $1.3456 and 104.56 yen per euro. Dollar has risen for about 0.13 yen, which is 77.79 yen from 77.66 yen. The release of the US nonfarm payrolls data will make vast difference in the world’s biggest economy.
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Euro rose against dollar with euro debt crisis and pressure on ECB
Posted on November 20th, 2011
On Friday the euro has rosin against the dollar however few days back it was 5 week low against both the dollar and yen. However, the traders were not aware of its rise anyway. The fear of euro was intensifying before a week and it is not anymore. The investors who had their bet on this single currency “euro” have been unwounded and they have their profits in hands.
The thirst to sell the upticks has been increased with the debt crisis in the euro zone. Pressure is been resting upon the ECB (European Central Bank).
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Yuan ended down slightly against dollar
Posted on November 17th, 2011
On Monday forex trade the Yuan ended slightly down against the dollar after the china’s central bank has given a notification on the set of the midpoint value change. Hu Jintao, Chinese president decided that the government has planned to keep the Yuan steady for a while and so it has been slightly down.
Chinese president added that however, because of this decision neither the US trade nor their employment problem that prevail over there is not being solved even they used to have a greater appreciation in Yuan versus dollar.
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Swiss franc hovers low against dollar
Posted on November 14th, 2011
On Friday forex trade the Swiss franc lowered against dollar. However it has previously moved inch by inch down and finally reached this stage. It had hovered about one month low against the greenback dollar. Nevertheless the intensive worry is that the Europe future is more attracted towards the dollar and it tends to make this dollar more attractive in the market.
To limit on the Swiss franc’s appreciation the SNB (Swiss National Bank) set a cap for the Swiss franc against the euro on the month of September. However the hovering movement and ups and downs of the franc and dollar was closely noticed and they were highly compared with that of the euro vs dollar.
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Important Tips on Choosing a Competent and Reliable Forex Broker
Posted on November 11th, 2011
If you’re just starting out in the world of forex trading, the moment when you open your first account can really feel exciting and seems like a big deal. So it is important to make sure you get it right from the beginning. When you start looking around at all the brokers out there you will soon realise that there are thousands to choose from and that your decision will not be that easy. What do you need to look for then when picking a reliable and gifted Forex broker?
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