Today's USD/CAD: How to better determine your entry with news coming up...

Trade Review

With global data and market reactions trending towards "negativeville," I feel like if I held on to a Dollar short position I'll get burned. Check it out!

he big sentiment shifter for me, and the reason why I got out of this trade, was the price action after the Australian Employment report today. Australia added a net 7.8K jobs versus expectations of 25K, and unemployment stayed the same at 4.9%--and the Aussie got hammered for it!

It seems that traders have no sympathy for weaker-than-expected results lately (also demonstrated with US employment last week), so with expectations of 20K vs. the previous month's 58.3K jobs added in Canada, USD/CAD doesn't seem to stand a chance of staying below .9800.

Also, with the uncertainty of the issues in Europe and the US weighing down on global growth expectations, and the uncertainty of the upcoming interest rate decisions from the UK and ECB, risk aversion seems to be the market driver going forward in the short term. So, with that line of thinking I decided to close my trade earlier at .9785 (as announced on my Twitter and Facebook pages).

Total: +15 pips/ +0.30% gain

I think this was a good move as I think there is too much uncertainty in the next couple of sessions, making the probability of success a real gamble.

I will continue to stay glued to the charts, and if a new idea comes up before the end of the week, you know where to catch it! Thanks for checking out my blog...stay focused and flexible...good luck and good trading!

Trade Idea: 2011-06-08 3:25 ET

Good morning! I don't usually take trades on USD/CAD, but there are couple of recent, short-term sentiment shifters out there that makes the pair an interesting short play for the week. Check it out!

During a speech yesterday, Fed Chairman Ben Bernanke stated that until the U.S. sees "a sustained period of stronger job creation, we cannot consider the recovery to be truly established." Now, while he did not mention a plan for "QE3," he did say that accommodative monetary policies are still needed. I believe traders will take this as further reason that U.S. growth will continue to be weak (maybe even spark double dip recession debates) and continue selling the Greenback, especially against countries with relatively strong economic data like Canada.

I'm looking at trading the Loonie as Canada continues to look relatively strong to its neighbor to the south as it adds jobs and maintains a lower unemployment rate. Also, because oil is its biggest export (mainly to the U.S.) I think the pair will do well if we see oil prices continue to find support and rise from its current levels (just under $100/barrel on the NYMEX). With emerging market growth outpacing the developed world and their demand growing for the "black crack," I think $90 - $100 a barrel is the cheapest it can go and probably rise from there during 2011.

Of course, the "X" factor is the recent news that crude inventories have slipped in the U.S., sparking speculation that OPEC will raise its production today to resupply fallen inventories and missing supplies from Libya. In the short-term, this may cause oil prices (and possibly the Loonie) to fall against the Greenback, but create a better price for sellers to get in USD/CAD short.

So, if the next few days plays out as I just described, I'll look to go short on a retest of the major psychological level of .9800 before making my move. My stop will be above the strong resistance level that has held over the past few weeks (around .9820) and my target will be the bottom of this week's volatility range at the MaPs level of .9700. Here's what I am going to do:

Short USD/CAD at .9800, stop at .9850, pt at .9700

Remember to never risk more than 1% of a trading account on any single trade. Adjust position sizes accordingly.

This trade structure makes it a potential 2:1 return-on-risk and if it is triggered, I'll stay open to the idea of scaling in another position at .9750 to make it a 3:1 trade.

On the forex calendar, we do have events from both the US and Canada coming at the end of the week, most notably the Canadian jobs report this Friday. We may not see sustained moves until then, so as always, stay focused and flexible in this continually shifting environment.

FX Trade Works

In the FX market you can buy or sell one currency for another. When you buy a currency, you are said to be "long" in that currency and when you sell a currency, you are said to be "short" in that currency. As the value of one currency rises or falls relative to another, traders decide to buy or sell currencies in order to make profits - since the objective is to earn a profit from their position. Placing a trade in the foreign exchange market is simple and the mechanics of a trade are virtually identical to those found in other markets. Because of the symmetry of currency transactions, you are always simultaneously long in one currency and short in another.

An open position is one that is live and ongoing. As long as the position is open, its value will fluctuate in accordance with the exchange rate in the market. To close out your position, you conduct an equal and opposite trade in the same currency pair. For example, if you have gone long in one lot of EUR/USD you can close out that position by subsequently going short in one EUR/USD lot (at the prevailing bid price).

How an FX Trade Works

Quoting Currency Pairs
Buying / Selling
Margin / Leverage
Rollover
Getting Started
Glossary
Overview

Forex, FX, or Foreign Exchange, is the simultaneous exchange of one country's currency for that of another. FOREXYARD offers leading online trading platforms for individuals that wish to speculate on the exchange rate between two currencies. In doing so, speculators purchase or sell one currency for another with the hope of making a profit when the value of the currencies changes in favor of the speculator as a result of events that takes place across the globe. This market of exchange has more daily volume - both buyers and sellers - than any other market in the world.

The FX market is available 24-hours a day, five days a week. Furthermore, the Forex Market is the largest financial market in the world with daily reported volume of over $1.4 trillion changing hands between buyers and sellers across the globe, making it one of the most exciting markets for trading. Although currency trading is inherently governmental (central banks) and institutional (commercial and investment banks), technological innovations, like the internet, have made it easy for individuals to take part in the currency trading markets and to trade via intermediaries online.

GBP/USD now trades at 1.6460, down over 60 pips from 1.6515 before the release. It seems that there were high hopes for this number, contrary to leaks about such numbers in other cases. Note that EUR/GBP crossed the 90 cent line – the pound is weakening across the board.

Yesterday, the manufacturing sector disappointed. This sector, which pushed the economy earlier in the year, has undergone significant slowdown in the past two months, with the score diving quickly from above 60 points to 54.6 now.

BOE Governor Mervyn King, that warned against the consequences of a rate hike, has now more reasons to wait. A rate hike now will hurt the very fragile economy, as reflected by these numbers.

Earlier today, GBP/USD managed to recover, escape the lows of the 1.6430 support line and climb back above 1.6515.

Resistance is found at 1.66 and 1.67. Support is at 1.6430 and the region of 1.6280 – 1.63. For more technical analysis and upcoming events (we have another PMI tomorrow), see the GBP/USD Forecast.

In other British news: net lending to individuals, which is another gauge of economic activity, dropped to 500 million pounds, much lower than 1.7 billion that was expected, and also here, lower than last month’s 2 billion.

M4 Money Supply, which is a second-tier gauge of inflation, rose by only 0.1%. This is better than last month’s drop of 0.3%, but also here, short of expectations for a rise of 0.4%. One figure that was positive was the final read of mortgage approvals. It was unexpectedly revised to the upside, from 44K to 48K.

Osama and the Dollah!

Finally, the search is over! After a decade of playing hide-and-seek with the U.S. government, Osama bin Laden has finally fallen! Five months of spying and planning (and maybe even practicing on Call of Duty?) culminated in a 40-minute firefight that ended with the death of the world's most wanted terrorist.

Americans poured out into the streets after news broke out that the U.S.'s number one enemy had fallen. Crowds formed seas of red, white, and blue as cries of "USA! USA!" filled the night air.

Not wanting to get left behind, the markets expressed their joy as well. With the al Qaeda's leader finally out of the picture, a broad risk rally ensued and lifted other major currencies against the safe haven dollar.

Oil prices eased briefly on this bit of news, probably because many are hoping Osama's downfall will positively affect global oil supply.

However, the dollar eventually had the last laugh on Monday as it ended the day ahead of most of its major counterparts. It seems after all was said and done, investors still believed the dollar was the best bet on that day.

So does this mean Osama bin Laden's death will have a lasting effect on the dollar? Not necessarily!

For one, its effects on global risk basically cancel out. The risk of an al Qaeda retaliation sort of counters improved risk appetite brought about by the death of the world's most wanted terrorist. Although many predict that retaliation efforts are isolated and will only have minimal impact, it does take away a bit of the safety effect of Osama's death.

The second and most important factor to consider is that while good vibes are high in the U.S. right now, the country's fundamental problems haven't changed.

Unless the Fed members have suddenly turned hawkish because of Osama's death, we have no reason to believe that the Fed will change its dovish stance from last week's FOMC meeting. Remember that since the beginning of the year, the dollar has been losing ground against its major counterparts on interest rate differentials and weak economic growth.

And while we're on the subject of economic growth, we might as well recall that the latest economic reports from the U.S. haven't exactly been attractive for dollar bulls. The latest GDP report, for instance, came in below expectations at only 1.8% in the first quarter. Of course, let's not forget that U.S. officials still haven't presented a solid, long-term plan to rid the country of its debts!

I guess what I'm trying to say is that while it's definitely a cause for celebration to be rid of the most dangerous terrorist in the world, we shouldn't trade based solely on initial price action. If you look closely, you'll see that the event really didn't do anything to change the dynamics of the dollar.

Lower UK House Prices

The Great Britain pound slipped today after the report showed that the house prices in Britain unexpectedly decreased in April, confirming the weakness of the UK economy.

The report by Nationwide showed today that the house prices in Britain dropped 0.2 percent in April, while experts hoped for an increase by 0.3 percent. That leaves the prices 1.3 percent lower than in the same period last year. The poor macroeconomic data reduces incentive for the Bank of England to increase its interest rates, erasing appeal of the sterling.

The euro advanced versus 14 of 16 most traded currencies, including the US dollar, today as euro bulls hope that the European Central Bank will increase its interest rates tomorrow.

The euro surged at the beginning of the trading session, but fell by 8:00 GMT. Yet currently the shared European currency is steadily pushing higher. The EUR/USD currency pair reached earlier this weak 1.4901, the highest level since December 2009. The ECB will announce its decision regarding the interest rates tomorrow.

EUR/USD advanced from 1.4823 to 1.4868 today as of 8:50 GMT after earlier it fell to 1.4774.

* China committed to buying Spanish debt, boosts euro

* Yen, Swiss franc big gainers as well in risk-off market

* Japan nuclear situation deteriorates (Recasts, adds quote, updates prices, changes dateline; previous LONDON and byline)

By Gertrude Chavez-Dreyfuss

NEW YORK, April 12 (Reuters) - The euro rose to a fresh 15-month high against the dollar above $1.45 on Tuesday, boosted by reported buying from China and news the world's second largest economy was willing to purchase more Spanish debt.

The euro's break above $1.45 was a bullish signal, which could open a test of $1.4550 and $1.4580. Both levels are said to be lined with option barriers.

"The euro is being supported by expectations of higher interest rates and news that China has reiterated its commitment to buy European debt," said Camilla Sutton, chief currency strategist, at Scotia Capital Markets in Toronto.

"That China news helped drive Spanish yields lower and was positive for the euro."

TOKYO (Dow Jones)--The dollar rose against the yen in Asia Wednesday as Japanese pension funds and importers bought the U.S. unit amid a lull in the flow of negative news about Japan's stricken nuclear power plant.

Japanese investors snapped up the U.S. currency after it fell in the morning session to Y83.50, close to its 200-day moving average, said Tomohiro Nishida, a senior dealer at Chuo Mitsui Trust ...

For the China news, click on [ID:nB9E7EN01X].

Spanish 10-year yields have fallen to 5.18 percent on Tuesday from a recent high of 5.55 percent on March 10.

The yen and Swiss franc were the two other big movers of the day, rising after Japan's nuclear situation worsened and Alcoa missed revenue estimates, prompting investors to sell risky assets funded by the two low-yielding currencies.

Gains in both the yen and Swiss franc, were likely to be short-lived as demand for so-called carry trades financed by those two units may pick up again should the situation in Japan improve.

The yen rose for a fourth straight session, partly retracing 10 consecutive days of losses versus the U.S. dollar. The Swiss franc also advanced for a fourth straight day.

The initial sell-off in risk was prompted by Japan's Nuclear Safety Agency raising the severity rating of the Fukushima accident to level 7 -- the highest classification and the same as the world's worst nuclear disaster at Chernobyl in 1986. [ID:nL3E7FB2TZ].

TOKYO (MarketWatch) -- The yen surged against the euro and the dollar in Asia Tuesday, as overseas investors scrambled to unwind positions in the higher-yielding single currency to lock in profits, buying back the Japanese currency as concerns resurfaced about the troubled Fukushima Daiichi nuclear power plant and further earthquakes.

"Overseas investors stopped taking risks," while purchase of the yen in the cross also pushed the dollar/yen rate down," said Yuji Saito, foreign exchange market director at Credit Agricole in Tokyo.

At 0450 GMT, the euro was at Y120.85 from Y122.15 late in New York on Monday, according to EBS via CQG. It fell as low as Y120.16 in morning trade. The dollar was at Y83.90 from Y84.61. Its low was Y83.46. The single currency was at $1.4408 from $1.4437.

Japan on Tuesday raised the crisis level of the Fukushima Daiichi nuclear power plant accident to 7, the worst on the international scale and the same level as the 1986 Chernobyl disaster in the Soviet Union. Hidehiko Nishiyama, an official with the nuclear safety agency, said Fukushima was less serious than Chernobyl, pointing out that the amount of radiation released from Fukushima thus far was about a tenth that from Chernobyl.

But an official at plant operator Tokyo Electric Power Co. (9501.TO) didn't rule out the possibility that as radiation was still being released, the amount could eventually match or exceed that from Chernobyl.

Earlier Tuesday, two earthquakes shook Japan but there were no immediate reports of damage or injuries. The levels of magnitude were smaller than recent aftershocks that have struck since the devastating March 11 quake.

The Japan Meteorological Agency said the first quake hit the Fukushima area at 8:06 a.m. (2306 GMT) with a magnitude of 4.0. The location was the same area devastated by the 9.0 magnitude March 11 quake, which caused the ongoing nuclear power plant crisis at the Fukushima Daiichi plant.

"The currency market had shrugged off various risk factors and investors had strengthened risk appetite over the past weeks," said Keiji Matsumoto, currency strategist at Nikko Cordial Securities. But such moves lost steam, he added.

The dollar had risen against the yen until the end of last week on hopes for an end to U.S. credit easing due to a slew of hawkish remarks from Fed officials. But Matsumoto said "the view that the Fed won't raise interest rates within this year is becoming a consensus among many people," even if the Fed is slated to end its $600-billion bond purchase program in June.

Still, Credit Agricole's Saito said he was keeping a close eye on remarks by Fed officials and U.S. economic indicators due this week to find a cue for the timing of the end of U.S. crediting easing and a possible interest rate hike by the Fed. The ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 75.129 against 75.031.

As any forex trader will tell you, staying on top of your finances is crucial to turning in a profit. But quite often this doesn’t happen and many traders will, at some point in time, find themselves in debt. Sometimes getting in debt is the result of circumstances beyond our control such as losing a job… but often it is as a result of being over-ambitious with forex trading or chasing a loss. Sometimes it is because we have not properly understood the long term implications of trading beyond our means; or enjoying a lifestyle that really we can’t afford.

But what ever the reason we have for finding that we owe too many people or organisations more money than we can find a way to repay, please understand that you are not alone. There are a great many people who are in precisely the same situation as you and thankfully there are people whom you can approach who will help you find your way through the nightmare of debt that currently you are enduring.

In order to take control of your debts you need to find a way of managing them. So where do you go for debt management help?

Debt managers’ day job is managing debt, so it makes sense that they are they people to whom you should talk.

Yes, it is difficult to pick up that phone and talk to a stranger about your current situation of which you might feel ashamed. Even when people find themselves in debt due to matters entirely out of their control, events such as losing a job, the most common emotion is one of shame and embarrassment.

Being in unaffordable debt is extremely painful. At least nowadays you do not get arrested and carted off to some hell hole of a dungeon, though emotionally it can feel like that. All you need to do in order to get some debt management help is pick up the phone and speak to a specialist

NEW YORK (Dow Jones)--The euro struggled Friday as traders reassessed the euro zone's simmering debt problems, after all but ignoring this risk for months.

The previously buoyant currency may be at a crossroads, with coming weeks revealing whether the recent meteoric rise based on the currency's favorable yield differential is sustainable. Moody's Investors Service downgraded Ireland's government debt by two notches Friday and kept its outlook negative on the troubled sovereign.

"That kind of started the drive lower for the euro," said Greg Salvaggio, vice president of capital markets at Tempus Consulting in Washington.

For now, traders remain unsure how ...

"If foreign exchange is the "wild west" of trading, then forex traders are the cowboys. Forex traders are typically comfortable with a high degree of risk, lots of sleepless nights, caffeine, and constantly-blinking computer screens - but what other substantive qualities do they have in common?"

I think this is a very interesting look at our community. This also tells me that most forex traders are not necessarily interested in other markets and are rather focused which puts me in a quandary regarding much of what I teach and encourage traders to do regarding my Forex Market Pulse futures contracts. Is it important? I believe it is. But is the message being heard? Perhaps not.

What's another great stat here is just how many traders are home-based! The mobile trading lifestyle and the tools that allow it (iPhones, netbooks, iPads, etc.) are even more important and it drives home one idea I have always believed: Trading is as much about the lifestyle and freedom as it is about making a living!

Another important stat is regarding education. And with BabyPips leading the charge with not only the best course - but the best free forex educational course online, there is all the more reason to see this 54% increase. Forums and Blogs account for 38% and 33% respectively and explains why BabyPips is such a popular destination for the new and experience forex trader. Our attitude here is not only entertaining but fun-loving but the information is all business.

Good morning! We saw USD/JPY spike lower after another earthquake hit Japan yesterday morning. The pair dropped enough to trigger my long trade and then we saw the market rally back higher within the same hour. As the weekend was quickly coming to a close, I decided to close my trade to avoid weekend risk.

Closed manually at 85.25

Total: +55 pips/ +0.61% gain

So, a nice and quick swing trade for the week. The pair is dipping lower as we approach the end of the European trading session, so that'll be it for me this week. But I will keep a watch on USD/JPY and if it breaks higher next week, or finds support in the same area, look out for me to jump in this bad boy long again. Until then, thanks for checking out my blog and have a great weekend!

Trade Idea: 2011-04-06 3:42 ET

The Japanese Yen has been getting beat like as rented mule on sentiment it'll be the last to exit out of stimulus. With divergence signals indicating a pullback may be around the corner, will there be another chance to jump in the trend?

Quotable

Who can take a sunrise
Sprinkle it in dew
Cover it in chocolate
and a miracle or two?

The candyman
The candyman can
The candyman can cause he mixes it with love and makes the world taste good

Commentary & Analysis
The Candy Man Can...

As you likely know, the euro spiked (is still spiking) to a fresh intermediate-term high today, as the dollar is generally being whacked across the board--but there have been worse days for Mr. Greenie--many of them in fact. The euro is the lead dog today and getting all the press. It's acting quite well in the wake of Mr. Trichet's press conference yesterday after announcing a 25 basis point rate hike as you can see in the chart below:

EURUSD Dailyd made a decision which was likely extremely politically unpalatable. A sign of strength it is perceived; though the not so dirty little reality is the ECB is the central bank for Germany, just as the eurozone is the captive market for Germany. In case you have forgotten, one size fits all in the zone!

Now contrast this to the central banker role being played by Mr. Bernanke on this side of the pond. Ben wants to be everybody's best friend. Heck, he even makes an appearance on the 60-minutes television show to prove to those who have never starred into a Reuters or Bloomberg screen, but don't need to know their houses are unsellable, that yes, he truly is the Candy Man (and remember that remark I made awhile back, about there not being a housing bubble in the US, well, I was only trying to help you). We all know the Candy Man can!

The Candy Man can make risk asset dreams come true. With the right dose of sugar he can turn a barbaric relic into gold and make real wealth and purchasing power vanish in a blink of an eye....

Gold vs. US Dollar Index Weekly:

In July 21, 2010, President Barack Obama signed the "Dodd-Frank Wall Street Reform and Consumer Protection Act" into law in response to the widespread clamor for changes in the financial system. It was a historic event as it called for extensive reforms not seen since the Great Depression.

According to the act, its main goal is:

To promote financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail," to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.

In response, financial institutions are preparing for the worst. They're doing all that they can so that the way they operate things will be in accordance to the new rules. So over the next year or two, don't be surprised when you see some game-altering changes in the Forex market as well.

I won't scare you and say that the CFTC will go all Steve Jobs-strict on retail Forex trading. However, I have to warn you that there are a few suggested rules that may ruffle your feathers.

The act is primarily aimed at regulating over-the-counter derivatives such as forwards, futures, and options. In order to do this, lawmakers have proposed to set up clearing houses to promote transparency and ensure that trade transactions run smooth. A downside to this is that it will most probably mean that banks will have to spend extra for these middlemen. Consequently, additional expenses may be passed on to consumers and translate to retail traders paying higher spreads!

Another proposal that I have mentioned in the past is the idea that leverage should be capped to 50:1 for the major currency pairs and 20:1 for non-majors. What this means is that you will not be able to take advantage of 200:1 or 100:1 leverage limits, which could hinder your potential profitability.

On top of that, hotshots at the U.S. Congress also think that brokers should have capital requirements. This may cause some brokers to close or merge with other under-funded brokers. If your account happens to be under one of those brokers, you may have to go through the tedious process of signing paperwork, making sure you can withdraw funds, or worse, having to switch to a new broker.

The most important question to ask though is, will these changes be good or not for the Forex market?

The most glaring and obvious effect are the restrictions it will place on Forex traders. As we point out in the School of Pipsology, high liquidity, high leverage, and relatively looser regulation are part of the many reasons why traders choose to dive into the Forex markets. While the suggested restrictions are aimed to "protect consumers from themselves," it severely hampers those who actually know what they're doing and can handle the fast pace and know how to properly take advantage of high leverage available in the Forex market.

On the other hand, we have to take into account the bigger picture here. More regulation leads to a more transparent industry, which is good for newbies and the uninformed. We don't want people getting scammed and talking smack about our beloved Forex community now, do we?

Lastly, the new rules are being implemented in hopes that they will lessen the chance of a financial crisis later down the road. There will always be people who are greedy and who will try to find loopholes to "beat" the system, but with tighter regulations in place, the damage that their actions may cause on the financial markets as a whole will be limited.

The whole previous week trading was mainly influenced by the outcome of the devastating earthquake in Japan, major problems with the Fukusima NPP and the growing tension in the Northern African region and the Middle East. As a result, during most of the week the demand for the save-heaven assets was increasing.

In the beginning of the week the Euro-zone leaders carried out the additional $600B in quantitative easing program. This announcement was unexpected by the market participants. The European credit rate for Greece was reduced, but the credit rate for Ireland was increased. As a result, the euro started the previous trading week with growth. The EUR/USD pair traded at the maximum level of $1,3960.

On Monday the Bank of Japan left the principal rate unchanged at the previous level of 0.10%. As a save-heaven asset, the yen rate grew and the USD/JPY pair showed minimums at Y80,50. The Bank of Japan injected Y15 trillion into Japanese capital markets and expanded its asset purchase program to Y40 trillion. This decision managed to limit the yen growth. As a result, the USD/JPY pair showed maximums at Y82.47.

Speculations regarding the possibility that Japanese demand for oil after the devastating earthquake on Friday would decrease, pressured the oil rate. The oil prices dropped below the $100 mark per barrel. At the same time the gold rate increased and reached the $1,426.70 level per ounce.

On Tuesday the euro received additional pressure after the publication of the Euro-zone fundamentals. The German ZEW survey (Economic sentiment) for March decreased and turned out to be below forecasts: 14.1 against the expected 16.0. The current situation index was below the forecast as well: 85.4 against 86.0. As a result, the EUR/USD pair dropped to the minimums of $1.3852. At the same time the US dollar was supported as a result of the forecasts of the FRS statement, which was expected to announce the improvement of the US labor market. Greenback was also supported as a save-heaven currency after the announcement of the possible radiation contamination risk as a result of the earthquake in Japan. Explosions at the nuclear power plant in Japan, as a result of the devastating earthquake, supported the yen as a save-heaven currency. Bank of Japan continued to support national finances of the country. Additional 5 trillion yen were injected into the financial system.

Swiss Frank received considerable support as a save-heaven currency and reached historical maximum against the greenback at the level of 0,9137 on Tuesday.

Trading dynamics changed during the American session after the release of the FOMC meeting results. The interest rate was left at the previous level of 0.25% and will be kept at this level unchanged for a “considerable period of time”. The QE2 program was left at the volume of $600B. As a result, the US dollar has lost its attractiveness and the EUR/USD pair grew to the $1.4012 level.

On Wednesday the euro showed decrease after the release of the Moody’s credit rating for Portugal, which was reduced from A1 to A3 with the negative forecast. Concerns over the European budget crises reinforced again. The EUR/USD pair dropped to the minimums of $1.3925. On the same day the USD/JPY pair set a 16-year minimum today at the level of Y76,73 due to the growing concerns regarding the risks of radiation leaks in Japan.

On Thursday the EUR/USD pair showed minimums at the level of $1.3870 during the Asian trading session. Maximums were reached at the level of $1.4054 due to the announcement that Spain sold bonds for 3219 billion euro of the year 2021 and for 911 billion euro of the year 2041. At the same time the GBP/USD pair demonstrated maximum at the $1.6120 mark. European session brought sterling to maximums of $1.6170. The speculations over the possibility that Britain could start an air attack on Libya supported the growth of the pound. Market participants were monitoring the development of the situation at the Fukusima NPP. After the released confirmation that the situation showed some stabilization, the yen dropped from the reached maximums.

According to the released information on Thursday, the Initial jobless claims volume decreased below expectations. Industrial production showed unexpected decrease for 0.1% against the forecasted growth of 0.6%. The Philadelphia Federal index turned out to be above expectations and above the previous month’s level. Nevertheless, the release of the US data did not have any impact on the market dynamics, since investors were mostly influenced by the situation in Japan.

After the conference of the Ministers of Finances and heads of the National banks of the G7 countries, it has been decided to perform a mutual intervention aimed to decrease the rate of the yen. As a result , the USD/JPY reached the Y81,47 level. The EUR/USD increased and closed the trading week at the $1.4183 mark.

TOKYO (MNI) – Japan’s trade surplus in February is expected to have
totaled about Y890.4 billion, up 37.6%% from a year earlier, following a
deficit in January, according to the median forecast of analysts
surveyed by Market News International.

The Ministry of Finance will release the data at 0850 JST on
Thursday, March 24 (2350 GMT Wednesday).

The trade balance in January posted a deficit of a revised Y475
billion, the first deficit in 22 months. It followed a surplus of
Y725.85 billion in December, which was up 33.8% from a year before.

The deficit was caused by a surge in imported energy prices and a
temporary slowdown in exports to China and other Asian economies.

Economists said the export slowdown in January was temporary, which
was caused by the Lunar New Year holidays in the region, adding that
both exports and imports are expected to have returned to normal in
February.

They forecast exports will show a 8.5% rise y/y, improving sharply
from +1.4% in January while imports will post a 4.3% gain, slowing from
revised +12.5%.

According to data released previously by the MOF, exports rose 8.6%
y/y in the first 20 days of February while imports fell 2.2% in the
same period.

The MOF said iron and steel, automobiles and metal processing
machinery boosted exports in the first 20 days of February, while slower
purchases of clothing, computers as well as scientific and optical
instruments lowered imports.

During the same period, prices of imported crude oil averaged $95.6
a barrel, up around 21% from the whole month of February 2010, posting
the highest level since $102.7 marked in October 2008.

INTRA-DAY EUR/USD OUTLOOK

Last Update At 22 Mar 2011 06:25 GMT
Rate : 1.4230

Although euro has edged higher ahead of European
opening after meeting renewed buying earlier at
1.4203 (AUS), abv y'day's 4-1/2 mth high at 1.4241
needed to extend marginal gain, near term 'loss of
momentum' shud cap price below prev. top at 1.4283.

Buy on dips for 1.4240 or sell if euro climbs to
1.4260 1st for subsequent retracement to 1.4220.

Range Forecast
1.4210 / 1.4240

Resistance/Support
R: 1.4241/1.4260/1.4283
S: 1.4185/1.4138/1.4095

Linguists within our midst will recognize the word “no” in several languages. I of course headed straight to the internet for clarification. Thus, we have no written in English, Spanish, Finish, Portuguese, Dutch, and German—not necessarily in that order. What sparked this little lesson in “no” today was a casual reading of the Financial Times; it appears the lack of a common political culture may be about to finally catch-up to that little experiment in centralizing control of people’s lives that is often referred to as the single currency. The serfs seem to be rising up against the all powerful politicos. How sweet it is!

We have been telling our clients for some time the fate of the euro rests as much or more now on politics, as it does on economics. But because of the monolithic singularity with which the political elites approach the future of the single currency experiment (SCE for short), the core political will and opposition to this multi-headed beast based in Brussels by the average sovereign citizen residing in Europe. The elites would have us believe there is no such thing as a sovereign citizen; we are all one big happy collective European family; or at least that be their dream. But there are such individuals out there—real rugged independent individualists alive and well in Europe; we know because we receive emails from them when they decide to leave bunkers now and then; seems now many are emerging from their bunkers at the same time and rising to the surface to be heard.

Ms Merkel is hearing their voices. According to the Financial Times, a recent poll in January showed that 68 percent of Germans lacked trust in the euro. Already, some within her own party have taken action to tie her hands on any proposed bailout. Her sovereign citizens seem to be making it quite clear for a political animal like Angela to hear: Feel free to continue to lead the eurozone, but that’s your goal, you won’t be leading Germany much longer.

It is not just Germany, a block seems to be forming among the three rich northern states of Europe—Germany, Netherlands, and Finland. The taxpayers in these countries have had enough and are making that clear. We often think about Germany’s views, but interestingly the Financial Times reported it this way today in a great piece written by Peter Spiegel and Quentin Peel [our emphasis]:

As nervous as Ms Merkel may be, her standing is relatively safe compared with that of her Dutch and Finnish counterparts, whom officials say have occasionally become even more strident than Germany in closed-door negotiations as their political fortunes have waned.

“The Finns and the Dutch have become terrible bedfellows,” says one person involved in the negotiations.

So, the guys that are funding this little experiment are becoming weary.

The Greeks—those left and unable to sail off scot free into the sunset—are in high dudgeon. To use the vernacular—they are really pissed off! Already they are sick of austerity, which looks to be the state of things as far as the eye can see. But they aren’t taking it sitting down, as you well know if you watch the news. Many Greek citizens are refusing to pay the exorbitant increase in fees levied upon them, effectively by the European Union and the IMF.

Soaring fees hit the Greek sovereign citizen just as average income there has plunged by around 20% and inflation has doubled since the recession started, as reported by the Financial Times. The big push not to pay highway tolls is now weaving its way into boycotting rising electricity bills. “Damn you Greeks’ tighten your belts and stop whining,” is the effective response from the Eurozone and IMF. Likely a prescription we all need to heed to a greater or lesser degree no matter where we live. But, that dog won’t hunt in Greece as evidenced by daily violent and powerful protest that show the country is very close to becoming ungovernable. Can you say anarchy? Commitments to contractual obligations and creepy anarchy don’t usually make for good bedfellows.

Ireland…Holy smoke! Is there any better example in history of how badly and rapidly a government (added by financial alchemy) can screw the pooch? Well maybe, if we think of the Darien scheme initiated in the 1690s next door in Scotland; a place where part of my ancestry flowed from. The scheme so weakened the country it allowed the stinking Redcoats (apologies given) to effectively pave it over, crushed the peeps, so taxes could be extracted on the world’s truly precious commodity—scotch.

Given the other part to my gene pool came from Ireland, I have some inkling about how they might feel. My Irish side is what leaks out into these pages each day—fight first and ask questions later. It has gotten me into much trouble over the years, as you can imagine, but as they say: “You can run from my gene pool but you cannot hide.” The average Irish citizen has to be spitting mad and likely searching continuously to find a banker that he can punch in the mouth. I know I would. This isn’t normally the breed that likes to be told what to do by the EU given the scorched earth policy left for them to deal with. Those left are likely regretting that “no” vote that Brussels so insidiously turned into a “yes.” Common culture? Yeah—sure!

[Note: Black Swan Capital will soon be conducting its distillery tour in Scotland and penning our daily tasting notes, sending a bottle of scotch each day to a lucky reader, and thinking about such minor things as economics along the way; if we can clear our heads of the wee drams we might imbibe. If there are any readers in the area, we would be more than happy to organize a small conference to meet you and discuss some of global macro views going forward; let us know. It would be great to meet you.]

Added to this nasty elixir of austerity pain, we wake to the downgrade of Spanish debt this morning. Just yesterday it seemed analysts far and wide were high on Spain as they were taking to ingesting the tough austerity medicine. Maybe so, but does it matter?

This Spain downgrade comes on the heels of Portugal’s effective announcement yesterday it will need a bailout in order to keep the game of musical chairs in play.

Two of the most prominent forex brokers took advantage of the currency market's growing popularity and tried their charm on investors by debuting at the New York Stock Exchange. But three months after going public, it seems like these hotshot broker's stocks have still been unable to impress!

You may know them from the article I wrote late last year.But enough with the suspense, I'm talking about none other than FXCM and Gain!

The New York-based broker FXCM, a.k.a. Forex Capital Markets, is regarded by some market junkies as the biggest retail FX broker in the biz. It went public in December of 2010, raising around 211 million USD in its initial public offering when it sold 15,060,000 shares at 14.00 USD each. However, when I looked up FXCM during the middle of the week, I saw that its price has slumped to 12.12 USD per share!

As for Gain, well it also hasn't err... gained. It went public about the same time that FXCM did, raising about 81 million USD for the 9,000,000 shares it offered. The company wasn't off to a good start though as GCAP opened at 9.00 USD per share, below what the market had initially expected. As of this writing, GCAP is at 7.72 USD per share, a fall of more than 12% from its IPO price.

Part of the reason why Gain and FXCM have struggled lately is because of bad publicity.

Both firms have been subject to lawsuits and complaints from both the general public and regulatory agencies like the NFA. FXCM is being investigated on whether or not they issued misleading statements to shareholders. Meanwhile, Gain is facing a complaint accusing that the firm included a plug-in its trading platform that provided unfavorable execution to its clients.

This is one of the challenges for private firms that go public. Because they are now publicly owned, they are put under heavy scrutiny not only by government agencies, but by shareholders and the general investing public as well.

Furthermore, new regulations have also hampered the forex brokering business. Brokers are now required to have higher capital reserves in case of substantial trading losses or investors pulling out their money. Lower leverage limits have also been put in place. This reduces their clients trading volume, which in turn reduces a broker's revenue.

Violations of such rules can lead to fines from the NFA that hurts the bottom line net profit. This can be perceived as poor performance, which translates to lower share prices.

The news may seem bad for the retail forex industry, but being the optimist that I am, I see these as positive. The thing is, the forex market is riddled with shady brokers that it's so difficult to tell the legit ones from the scammers!

Stricter regulations, even if they hamper growth, are NECESSARY to protect customers. You may not like or agree with them, but regulations encourage transparency, which force brokers to avoid questionable practices and operate as fairly as possible.

Besides, if you look at my State of the Forex Industry Address, you'd actually see that the forex market has actually grown a massive 20% since 2007, despite the financial crisis. Numbers and facts don't lie my friends, numbers and facts don't lie!

This is why we've come up with the New School of Pipsology. More lessons, more content, and more corny jokes to satisfy your hunger for forex education.

The New School of Pipsology is designed to help you acquire the skills, knowledge, and special abilities to become a successful trader in the foreign exchange market.

Our definition of a successful trader is having the ability to do three things:
Make pips
Keep pips
Repeat

If you can repeatedly do these three things, then you're on your way to being a superstar forex trader! But we warn you, it's no cakewalk.

Remember when you were but a little teeny weeny bopper attending grade school?

No?

Well, according to our memories, here's how it worked.

You start schooling by rolling into pre-school with your chocolate milk and snack pack. The next year, you bring your kiddie backpack to kindergarten. If you pass, you'll join the big boys and girls in elementary school. But don't worry, we still have nap time in Grade 1. If you pass Grade 1, the next year you'll enter Grade 2, and so on, all the way up to Grade 12.

It basically went like this:
Kiddie School: Pre-school and Kindergarten
Elementary School: Grade 1 to Grade 5
Middle School: Grade 6 to Grade 8
Summer School
High School: Grade 9 to 12

This is how our lessons are broken apart, so you can relive the past and also be able to learn and study forex trading techniques at your own pace.

You might have noticed that there's summer school right before high school.

Wait. What's that?

Summer school?

Yep. Summer school.

We think that high school is one of the most important times of your life. It's when you get potty trained and stop using diapers, learn to read and write, and get your very first hugs and kisses from your mom and dad.

Oh wait...that was Forex Gump. Our mistake.

But for you more normal folks, to make sure you are fully prepared for high school and the awkward challenges you will face, we've added summer school classes to at least help ease your academic transition.

As for trying to get a date for the prom, we can't help you there. Even Dr. Pipslow is still looking for one. And he's 600 years old. Too bad he's forgotten that his prom already happened 583 years ago but we feel bad breaking the news to him.

So....shhhhhhhh. It'll be our little secret.

Aside from dating drama, try not to get senioritis in Grade 12.

Why?

Because our high school goes up to Grade 14!

But there's more!

Just like in real life, learning doesn't end in the high school!

If you've done well throughout grade school and high school, you get a full scholarship to our college! All expenses paid!

We won't even require you to fill out any applications or write essays. That's right....we like to hand out scholarships just as much as we like to hand out cute bunnies to Cyclopip for him to eat.

Hey now, don't judge Cyclopip. He's already given up eating soft cuddly cute kittens. He's trying okay?

Let's get back on track...

Our curriculum here at the New School of Pipsology will make a bold attempt to cover all aspects of forex trading.

Yes we are crazy, but that's how we roll yo.

That's also how much we believe in having a solid forex education.

You will learn how to identify trading opportunities, how to time the market (aka smart guessing), and when to take profits or close a trade.

But that's still not all folks. There's more!

You will also learn how to predict the future and never have a losing trade.

Yeah right. In your dreams pal.

Forex trading isn't easy, but with a lot of studying and hard work, you can become a successful trader.

So grab your security blanket and favorite teddy bear and let's head over to Pre-School!

AUD/USD broke up from its symmetrical triangle! What's more, it only went a few pips above my stop loss before it went back down! Is a tight stop loss my only problem, or am I doing something else wrong? Help!
A few days ago I shorted this pair because of the symmetrical triangle on the 4-hour chart, as well as the grim reports from both New Zealand and Australia. Too bad that markets weren't dancing to the same beat!

Market sentiment began to turn around just as I entered the trade, with mixed reports in the U.S. sparking crazy waves of anti-dollar vibes. While U.S jobless claims improved to 391,000 last week,GDP in the U.S. also dropped to 2.8% in the fourth quarter. The dollar bears were practically raising their glasses! Oh wait, that was Pink's song...

I read a great piece by HSBC Chief Economist guru Stephen King that appeared in the Financial Times this morning, "Trigger-happy central bankers risk wrecking the recovery," *Note: We often consider things great when they are aligned with one's own world view; which is the case here; as I too think developed world central banks have gotten ahead of themselves.]
Here are some excerpts that I think make great sense:
 Standard economic upswings end with inflation. This one is beginning with inflation.

Central banks typically raise interest rates to prevent inflation from picking up. They’re now thinking of raising interest rates to bring inflation down.
Higher interest rates are associated with rapid economic growth. Yet the west’s economic recovery so far has been arthritic, at best.
There are few, if any, domestic inflationary drivers.
Wage growth is modest.
Money supply growth is insipid.
On any conventional measure, there’s plenty of spare capacity.
The emerging nations’ success has, in turn, imposed a tax on western economies.
This “tax” is being paid via an increase in prices relative to wages. Hawkish central bankers would rather the tax be paid via higher interest rates.
Yet, raising rates may simply squeeze western demand without chocking off “eastern” inflation.

Current Trend

The trend was up until 3am EST. From 11pm - 3am EST, a new trend change candle formed and changed the trend from up to DOWN. After 3am EST, the trend remained down the rest of the day.
Today I only looked for long trades until 3am EST. After 3am EST, I only looked for short trades.

Today's Surf

5:45am EST- There was a valid signal here but because it was right before a news event I did not enter.
10:00am EST- There was a valid signal here but because it was a news candle I did not enter.

Today's USD/CAD: How to better determine your entry with news coming up...

Fundamentally there two broad points of consideration. The first requires only a glance at the economic calendar to see that the Bank of Canada (BOC) Rate Statement and Overnight Rate release is at 9:00am EST. The Overnight Rate is expected to remain at 1.00% so that places heavy emphasis on the Statement. The second point is more nuanced and this is where the discounting and expectations come in. This is far more difficult to ascertain because there is no "measurement" other than to observe price leading into the event. Will it be hawkish or dovish? How much of an impact does the recent rally in crude oil have on the loonie? Does the BOC see a quicker recovery with the global demand for crude and commodities in general? Is the current geopolitical landscape only a near-term boost to commodities? This is an important consideration since crude oil and metals account for nearly half of Canada's exports!

Based upon price action, even if rates are left unchanged and there is no suggestion of any hikes coming soon, the Directional Bias of the USD/CAD is down and I believe this must be considered when taking positions after the event. The downtrend on the daily chart would remove the 60 and 240-minute from any buy entries. In other words, getting long in this environment would be counter-trend and I will consider that only on five, 15, and 30-minute time frames. The 60 and 240-minute though are exactly where my attention is focused this morning. Both are in downtrends and therefore the BOC bounce that is currently pushing prices higher could set up a swing short at the 0.9747/0.9750 major psychological level or the 34 period EMA low on the 240-minute chart.
Realize that the data offers the volatility - in this case bullish momentum within an overall downtrend - that I seek for the swing shorts entries. The strategy is pure trend following. My requirement before the trend follow is a correction higher. The correction higher is not a reversal of the overall (daily) trend and a move to 0.9750 is basically a 23.6% Retracement of the decline from February 23 high to the today's 0.9684 low.

Will the EUR/USD Double Top Reverse the Longer-Term Intraday Trend?

The EUR/USD has traveled to the upper limits of the current range as the euro continues to benefit from hawkish expectations of a future rate hike. The strong data out of Europe has propelled the euro past the sinking dollar and pushed prices to 1.3854 and a second consecutive session of a rally to the 1.3850 major psychological level. There is a double top on the daily chart at the recent highs at 1.3861 and 1.3856.
There is also a double top that can be seen on the intraday time frames. The 240-minute chart however is the most interesting at the moment since the trend is still up on this time frame as opposed to the downtrends on the 15 and 30-minute charts and the sideways congestion of the 60-minute.

The 240-minute chart has formed a Rising Wedge which is no surprise since the trend as of the February 14 bounce from 1.3426 has been up. The break of the uptrend line support of the pattern indicates a near-term weakness which could be partially the daily chart double top creating selling pressure on the pair as prices could not attract buyers above 1.3800. The question is now whether the 240-minute move lower is merely a correction or a reversal. The pattern breakdown could be seen as an aggressive reversal entry however the area between 20 period simple moving average and 34 period exponential moving average could offer a cushion of buying support. This area overlaps with the Forecast area (shaded gray) on the chart which is between 1.3719 and 1.3650.

Day trading with the foreign exchange market is in some ways vastly different to that in other markets, in addition to which, day trading in the currencies market does not suffer from the unpleasant connotation that may spring to mind when one thinks of such things with relation to the stock market.
That said, if you have previously traded in other markets, then many items styles utilized in forex such as forwards,features, options, spread betting, contracts for difference and also the spotmarket are very similar to those used in the equity markets, and often maintain a minimum trade sizes for the base currencies.
It is worth noting however that day trading, being a fast moving, highly challenging trading style may not be for everyone. Should decide that day trading is for you, then there are also many different styles and variations of day trading with the currency market that you may wish to sample before choosing the form that feels right for you, or maybe you will prefer to utilize a series of styles.
The best way to learn the day trading styles with regards to forex markets is the same as in learning and perfecting any other trading style, or indeed other skill; by practice.
Talking to you forex trading mentor and other experienced day traders to see what styles have worked best for them over the years, ask for any hints, tips and techniques that may be of benefit and try them out before making the definitive choice of which style will be right for you.

I've been wondering - have you ever met anyone personally who actually made money of forex? And I mean someone real and impartial. I do NOT mean some random guy over the internet or a blogger, and also not a broker with an interest in your funds or a guy who wants you to buy his book. I mean someone you know personally and can verify he's not full of it (bs of course, not money).
My broker who also taught me to trade always tells me of some client of his that got the hang of it or some junior broker in his firm that knows the business, yet I keep asking myself - if he personally or his junior broker knows how to make money from forex, why oh why is he still working at an office job? I mean, give me a system that works just 40% of the time and I'll be a millionaire in a year and a half, I'll quit my job and start developing hobbies. But here's something I will NOT be doing - sitting at an office wasting energy and nerves trying to convince potential clientele how they can make money if they are well educated, disciplined and careful, etc. etc..
I enjoy cruising the demo but risking my real hard earned money? Not sure 'bout that at all.

Now personally I met someone who became a millionaire from a 3000$ account in less than two years, but he was trading stocks and he was a genius (a lucky one at that). As for forex, everyone likes to talk big and mention strategies that work 70% of the time, but it just smells like bigfoot sightings to me - everyone knows someone who saw one, heck, there are even self proclaimed bigfoot experts, but no one actually saw a bigfoot himself.

Americans are feeling better about their personal finances this month than they were a year ago.
The Country Financial Security Index increased to 63.7 in August, up from 62.8 in August 2009, according to Country Financial, Bloomington, Ill.
The index is based on a national telephone survey of about 3,000 Americans.
Country Financial began publishing index figures in February 2007.
Confidence in ability to set aside money for savings or investments fell to 54%, from 57%, even though the percentage of participants who described their financial security as good or excellent rose to 39%, from 35%.
Confidence in ability to pay off debt held steady at 76%.

Forex brokers detested this trading software as it is factually sucking all of their money down the drain. Forex Megadroid can perform as a genuine trader with the help of the artificial intelligence. Fifteen years before, when the first trading software was released in the market, it was a whole hit for all of the traders. In the upcoming years, might be some way better trading systems will come into sight and will demolish the repute of Megadroid. What this does is helps the robot make trades in the present by quickly working out years of similar looking market conditions in the past.

Now the indicator of Forex Mega Droid and why it is making such hype is the proven fact that the programme is the 1st Forex robot to have AI ( AI ). Before jumping in I suggest learning a bit more about the programme. This, for me, is the best question worth asking if you're about to get something, you actually need to know whether it has the ability to return your investment and will provide a stable flow of income. Megadroid offers a 60-day refund guarantee that gives you a right to demand for a repayment whenever you are not satisfied with its performance. Forex MegaDroid is an automatic trading system developed by two foreign exchange veterans, Albert Perrie & John Grace.

RCTPA is an incredible algorithm that enables you to make very rewarding trading choices. Mega Droid is an exception to this rule, because RCTPA enables it to stay worthwhile just about indefinitely. No matter how effective or reliable Mega Droid is, to be on the safe side it'd be a good idea to test it on a demo account first. This allows the robot to literally "see" the future of the market trend, and so be ready to make accurate decisions and execute effective methods. They have also added that MegaDroid gave them 95% profitable trades and 800% return of investment. The whole system of trading is beginning to become more of an automatic process and doesn't need trading talents any more. There is a number of Forex software which work all alone and does not need the supervision of trader.

Unlike any other Forex androids, it is able to work and perform well in changing market conditions as well . Forex Megadroid only takes 2-4 hours to perform analysis on the market patterns and forecast the future market trends with great accuracy. When you have this robot it your hand, you can trade without trouble and win trading sessions confidently. Before it was released by John Grace and Albert Perrie in the market, it was first evaluated by them personally for eight years. With its wish to deliver results with great precision the Megadroid will never enter big scale trades without your authorization. Always remember that your trading robot should match your trading style, because if not, you'll never be pleased with its performance.

You will be able to determine the efficacy of your intention and then put it into action. Any freshly introduced technology mainly in terms of business is expected to get gloomy reply in its initial stage of signifying its worth. Since it began live trading, they have expected 2000% rise in profits before the year comes to a conclusion. RCTPA performs its execution consent on figuring out previous market executions and plans its self using preceding data collected to trade more accurately at the present market trend condition. Megadroid is the 1st trading robot to use the RCTPA or the Reverse Correlated Time and Price research. According to most users, this feature is also answerable for the capability of Megadroid to supply results with an excellent precision of 95%. Reading all of these data needs time, but rest assured that it's going to be the best call a trading robot can make.

The inventors of this automaton are 2 experienced traders, Albert Perrie and John Grace, having 42 years of mixed knowledge in the foreign exchange market. An added virtue of this system is that it suggests a list of brokers that allow you to open a live account with only one buck, so Forex Megadroid can turn out to be a handy asset. It was realized by two trade geniuses that the past market information, trends and patterns can be employed to predict future trends. They thought to use this as the foundation theme and concept to develop a Forex robot which they named Forex Megadroid. The majority of the traders in the Forex market do not which Forex robot best suits their wants and what should they decide for? The intelligence system of Forex Megadroid, which can be called as the brain of any robot, was designed and developed by John Grace and Albert Perrie. Many individuals get disillusioned at the things they needed to discover first, since a large amount of this comprises analytical judgments.

Our World Forex services include the following:

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Our competitive foreign exchange rates and charges allow you to save between 0.5% and 1.0% on your foreign exchange turnover.
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World Forex provides detailed quotations for foreign exchange payments online
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All foreign exchange transactions are processed within 2 working days.
World Forex collects and delivers your import/export documentation wherever you are in South Africa, saving you time and money.

Candlesticks Made Easy:

If you want to increase your forex trading, and profitability in the market, then this article will definitely help you. This article is very constructive for discouraged forex traders. This article is very helpful if you want to earn profit in less than half an hour with almost no effort. This will be very helpful for expert as well as new forex traders. I assure you that you will not find such a useful product any where else.

The market conditions never remain stable. There are ups and downs all the time in the market shares. In order to overcome this problem, you need to remain disciplined, and follow our tips and use our product called Forex Candlesticks.
Entering and exiting the market at the exact time is necessary. The traders usually wait for the right time to enter the market in order to earn more profit e.g they want to sell their products at the time when the market rates touchÃ© the sky. The forex traders who use Forex Candlesticks know how to tackle and overcome business problems, and to improve their business and earn more profit. Most traders do not know when to enter the market, the Forex Candlesticks will guide you in getting you out of this dilemma.

Greetings!

I enjoy watching/listening to all the late night infomercials regardless of the topic. I am usually trying to review or solve some business challenge and like a little noise in the background. Having watched so many of these shows I always figured I wouldn't waste my time going to seminars etc. Well you know eventually even the smartest fish eventually gets hooked. I found a hole in my schedule and my wife and I went to a St Louis hotel to check out 4x Made Easy. It all sounded swell - boatloads of cash to be made. Sure there was risk but you have to risk a little to get a lot--right? Really I didn't think the base cost of the software was all that out of line. I have developed and sold software and didn't think it was outrageous. I got a little skeptical though when I saw the costs and fees structures of "those little extras." Come on, $1500 for a couple of DVD's, one day of free training, then $1000+ after that? The local "made it big time" success story wove a heartrenching tale of rags to riches. He had a nice job in aerospace, got laid off, sunk his last $3000 and in a few weeks could buy the aerospace company three times over. That's what did it for me. Afterwards I made idle chat with him and got him to open up a little. He admitted that it is more than a few minutes a day, that the success rate is based on the amount of knowledge and time you put in. I asked him if anyone else from the "area club" was available to speak to with. Well, he'd have to have them get back to me because he wasn't comfortable giving out personal info--fair enough. By the way, I never heard from anyone. I understand the forex market and looked at the software as a tool rather than an automaton that just generates cash. In my research I find many nebulous testimonials, etc. but no one to really come forward en masse--read more than (2) people with legitmate names and addresses (usually Bill P., Trenton, NJ or Miriam D., Scottsdale, AZ). I saw a thread from back in June from someone asking about anyone's experience and would like to ask it again--does anyone have real documented success or failure with this system? I tracked down a FOX 31 Newscast archive segment that showed that the people and State Attorney General of Colorado don't think much of Global Tech the parent company of the software. The name seems kind of sinister and I had to laugh becuase I think these guys actually developed the WYSE software which is a respectable oft used stock analyzer. Anyway if anyone has thoughts I'd love to hear from you. ;)

PS These guys have their spiel down pat. I think every psychology/sociology student ought to go to one of these seminars. They know how to hit every button to get you to buy. If you go in and pay attention it is really very interesting how they can appeal to several socio-economic and cultural backgrounds in three sentences or less.

Hi There!
I have set up this website to help forex traders (or prospective forex traders) choose the best strategies to make consistent profits by having a look through our forex trading reviews.
If you are like me you already trade or want to trade forex because you know there is good money to be made. The problem is that there are so many strategies available on the internet, and I reckon probably only 10% of them are truly profitable. The rest are scams.
Maybe you have been burnt by "too good to be true" fairytale strategies. I know I have!
I buy 4-5 new forex trading strategies every month, but will only review the "real" ones on this site. So if it is reviewed here, you know you can get it if it suits your trading style.
Suits your trading style? What am I talking about?
I would generally break down forex strategies into 3 main categories:

Automatic hands-off trading strategies, mostly through using Metatrader expert advisors.
Manual strategies with help from a specific set of indicators.
Purely price driven manual strategies (no indicators).

Now each of these categories can then be broken down into:

Daily Trading - making one or more trades at the end of each day, based on daily candles.
Day Trading - shorter term trading, with trades usually lasting 1 hour to 1 day.
Scalping - very short term trades, with trades lasting from a couple of minutes to 2 hours.

There are more categories like swing trading for instance, but these are the ones I use.
Here is an excellent Daily strategy taking only a few minutes a day, one that I am currently trading (the website looks ugly, but the strategy guide is excellent!):

Fidelity Finances is a rapidly expanding Forex Broker who is making its presence felt globally through its vast number of clients enabling wider range of online forex trading. Utilizing the latest technologies, Fidelity Finances enables its clients to trade currencies online and provides them with the best tools available in the online trading market. Fidelity had eased forex trading through Fidelity’s online trading platform Fidelity Trader.

Fidelity Finance Corporation is made up of highly qualified team of investment professionals who have put years of experience with the leading financial and investment firms hailing from different parts of the world, to manage the day to day affairs, in order to maintain its work culture

Forex Trading is relatively new to India. Onlien currency Trading or Online Forex Trading is a big business around the globe with millions of people and instituitions trading more than 3 Trillion Dollars a day! Indian Governement allowed resident Indians and institutions to trade in Forex in 2009. since then thousands of investors all over india especially stock market traders from Mumbai, New Delhi, Chennai, Hyderabad, Kolkata, Ahmedabad, Surat, Rajkot, Baroda, Bangalore and other cities have been actively involved in Online Forex Trading. SEBI regulated forex brokers offer trading in Indian Rupee against USD, JPY, Euro and GBP.
Forexveda India Limited was set up to service online forex traders around the globe much before Indians learnt about Forex Trading. Till 2009 company was giving advisory service and Fund management service to forex traders in other countries and since 2010 we are servicing Indian clients too. CEO of Forexveda is perhaps the most expereinced forex trader in India with more than 13 years of experience in Currency Trading to his credit.

For traders interested in utilizing an automated trading system or developing their own black box strategy, FOREX.com supports fully automated trade execution via a proprietary API.
The API provides users with the ability to receive a real-time rate feed, submit trade requests, set and modify orders, and receive automated confirmations of trade activity.
For qualified users, we provide a testing environment that enables developers to "paper trade" and test their systems in real time before using the API in a production environment with actual funds.

FOREX.com's API is a true standards-based XML interface that can be programmed in any network accessible language, from Perl-script to C++, Excel Macro to VB.NET managed code. The API is comprised of two separate technologies:

Rate Data Interface

Rate data represents the tradable prices published to the client. For this role we use a direct TCP/IP socket interface to the price publication system. To assist with programming in Visual Studio.NET and JAVA, we provide native components that handle the connection and link management. Each component creates events through delegates or call backs as appropriate.

Trading Functions

The trading functions are initiated by the client in the form of a request. This logic is implemented using Web Services; an XML based SOAP interface that uses HTTP as its transport. Web Services have become the de-facto B2B protocol of choice through their ease of use and cross-platform portability.

For those clients looking to automate their strategy signals generated from scripting languages such as eSignal's Formula Script or TradeStation's EasyLanguage®, please click here.
The API is available free-of-charge to FOREX.com live trading clients. We allow interested parties to register and access our API User Forum. Qualified developers have the ability to test the API with no up front monetary investment.

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