History of Trading the Forex Market

Share This: …bandwagon and attempt to increase their profit margins through brave yet profitable currency exchange decisions. Forex Currency Trading Online Online Forex Trading Advances Of course when Forex first began the Internet was a distant dream and therefore trading was carried out exclusively by the cash rich worldwide organizations. These were companies who could afford to throw a few million in to the mix in an attempt to make some big money trading currencies. Trading was carried out over the

Forex Trading Offers Huge Earning Potential

Share This: …potential? Well firstly the currency exchange market operates through brokers who offer some significant leverage ratios to their traders. For example, you decide to purchase 10,000 US Dollars against Japanese Yen at 125.00. Next day you sell 10,000 US dollars and buy Yen at 126.00 making a profit of approximately $79. To fund this position you need a deposit of $100 not $10,000 since the rest of the amount is leveraged to you by your Forex broker. If you were to try and trade without any

US DOLLAR Technical Analysis: The Dollar Bull Dilemma

Share This: …in expectations for a rate hike and the potential for the European Central Bank to follow the BoJ in March, the Dollar dominance could continue throughout Q1 2016. However, if support fails to hold at 12,200, a deeper retracement could be afoot. To see how FXCM traders are positioned, click here. T.Y. original sourceDailyFX.com – Interested In our Analyst’s Longer-Term Dollar Outlook? Be sure to sign up for our free dollar guide here. Talking Points: US Dollar

Silver and Platinum Price Action Not Supporting Gold Fervor

Share This: …through there then we can start talking more seriously about a bona fide reversal, but even if that occurs I still think spot needs to overcome the October highs around 1190 to signal any real sort of true behavioral change. I say that because the bear market in Gold since 2011 has been littered with plenty of rally attempts that never seem to muster enough strength to overcome a prior important swing point high. If Gold can manage that then it will probably be enough evidence that the winds are

USD/CAD Technical Analysis: CAD Bulls Likely In Charge below 1.4325 (Levels)

Share This: DailyFX.com – Interested In our Analyst’s Longer-Term Oil Outlook, be sure to sign up for our free oil guide here. Talking Points: USD/CAD Technical Strategy: Break through 1.4325 Would Encourage CAD Buying CAD Has Moved To Strongest Currency in G10, Was Weakest 2 Weeks Ago Oil Direction Increasingly Volatile As Trader’s Question if Jan. 20 Was Low The Story in USDCAD – Is the CAD Drop Done? The Canadian Dollar currently sits atop a strength index of

NZD/USD Tight Consolidation

Share This: DailyFX.com – Daily Chart Prepared by Jamie Saettele, CMT Automate trades with Mirror Trader and see ideas on other USD crosses -Since breaking the September-November trendline, NZD/USD triggered a double top with weakness below the November low. However, the 1/20 reversal and subsequent follow through casts double on the validity of the downside…at least in the near term. With price continuing to hold the November low, beware of a run on .6615 or so (support from

EURUSD Consolidation Break Imminent- Levels To Know

Share This: …Non-Farm Payrolls release likely to fuel volatility in the dollar crosses. For updates on these setups and more trades throughout the week, subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount! Relevant Data Releases Other Setups in Play: Webinar: Aussie Crosses at Key Inflection Points Ahead of RBA EURAUD Approaches Critical Support- Longs Favored Above 1.5300 AUDJPY Following 2016 Trade Plan- Time to Reload AUDUSD Rally Accelerates into

Buy or Sell: Gold Prices Trade at Highest Level in 2 Months

Share This: …three wave move. Therefore, the full five waves of the ending diagonal will look like 3-3-3-3-3. Upon closer inspection of wave (5), you’ll see that it is not obvious there is a 3 wave move in there. As a result, we’re inclined to label the Oct-Dec 2015 down trend as simply wave A of (5). That means this recent up trend through today would be labeled wave B of (5). The critical level to this wave labeling is the wave (4) high of $1191. We would also anticipate resistance in the

USD/JPY Reverses From False Breakout

Share This: …near range resistance, which is found at the R3 Camarilla Pivot point at a price of 118.47. It should be noted, that if today’s bullish momentum continues through the US session open, breakouts for the USD/JPY begin over the R4 pivot point at a price of 118.66. In this scenario, traders may utilize a 1-X extension of today 37-pip range to place initial pricing targets near 119.03. It should be noted that if prices return inside of today’s range, it might represent a return to

EUR/USD Weakness Resuming as ECB Signals Next Move

Share This: …about it: the prospect of unexpected looser ECB policy due to deteriorating fundamentals provoked a significant shift in technical across the EUR-spectrum (especially in EUR/AUD, EUR/GBP, and EUR/USD). Considering what the ECB may have signaled through President Mario Draghi’s press conference, the break in prices this week may be just the beginning of the next leg of broad Euro weakness (at least through the end of the year). There are two big takeaways from the ECB meeting. First,