Make Money Forex Trading Currencies from all over the World!
Tuesday, April 28, 2009
Open Source Investing: What Can We Learn from Other People?
After reading a wonderful post on Happiness is Better, I was really inspired. The post documents the blog author’s experience in Forex trading. What’s really interesting is that he is just learning how to trade Forex, and is not yet an expert. It’s like he’s sharing his experiences of the learning process, and we can learn at the same time.
It seems that this is really a significant paradigm shift. In the old world, information was a business’s most precious resource. Patents, technology secrets, and copyrights protected a business and individuals against people trying to steal from them. But the Internet and the blog phenomenon has created a new way of thinking. Now, it’s all about,
Automated Trading and Forex
Recently, the Forex market has really become popular among small investors. Before the internet, Forex trading was available only to large institutional traders. But, like so many other things, the internet has changed the way the game is played.
It’s interesting to note that one of the most popular assets traded these days is currencies. Before, it was mostly stocks. But now there is massive interest in the Forex market. Perhaps it is because people percieve the world as being much smaller, and they understand that each country’s economies and currencies are closely linked.
There is also a certain thrill provided by Forex trading. Typically, you can get 100:1 leverage. So that means you can buy $10,000 of a certain currency for $100. It also means that if the price of a currency that you buy increases by just 1%, you have just doubled your money.
Wednesday, April 22, 2009
US Dollar Report; International
| Dollar falls vs yen as data shows big job losses in March |
| NEW YORK- The dollar fell against the yen on Wednesday after data showed private U.S. employers cut another 742,000 jobs in March, more than economists were expecting. The March job losses reported by ADP Employment Services marked the biggest since the firm's survey began in 2001. The dollar fell to 98.60 yen The dollar and yen tend to outperform on bad economic news because they attract safe-haven flows from higher-yielding currencies and assets. |
| Source: Reuters |
EURUSD Outlook
The EURUSD made indecisive movement yesterday. The pair attempted to make higher correction, topped at 1.2992 but closed lower at 1.2945. From the bearish scenario point of view since the downside momentum from 1.3734, as long as the pair stay below 1.3100, any upside corrective movement is “normal”. The bias is neutral in nearest term and I think we are now in no trading zone. On daily chart we had symmetrical triangle formation indicating a consolidation. The “double bottom” at 1.2890 (April 20 and 21 low) area should be the key support level at this phase. Break below that area could trigger further bearish scenario towards 1.2725 area. CCI in neutral area on both hourly and h4 chart.
EURUSD Daily Supports and Resistances:
- S1= 1.2896
- S2= 1.2847
- S3= 1.2799
- R1= 1.2993
- R2= 1.3041
- R3= 1.3090
History
Forex Rates
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