The trader deals in Foreign Exchange [Forex] at the most appropriate time to profit from the transaction. Good ability to forecast plays a vital role here. One may wonder how Forex trading can be such a lucrative earning opportunity ...
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The Greenback Awaits the Release of the Nonfarm Payrolls
Today’s U.S. NonFarm Employment Change data release is set to dominate the trading between the Dollar and its major currency pairs. A number of other factors are also likely to impact the forex market today, such as European Central Bank Chairman Jean-Claude Trichet’s speech at 7:50...
USD/JPY easing toward trendline support
USD/JPY is pressured by a wave of dollar weakness that has come out of left field this afternoon, fueled by a surprisingly large short-covering rally in cable. Trendline resistance broken on the daily charts last week during USD/JPY’s big rally on Friday is now being tested from the topside...
Yen cross selling sees USDJPY back under 98.00
Selling of Yen crooses has weighed on the USDJPY sending it back below 98.00 and towards the first line of support at 97.80. There are some range traders on the bid here at 97.80. However Japanese traders are looking at 97.50 as the pivot point with the base of the ichimoku cloud coming in at...
GBPUSD stays in a rising price channel
GBPUSD stays in a rising price channel and remains in uptrend from 1.5296. The price action from 1.6017 is more likely consolidation of uptrend....
EUR/USD extends sell off, but buy orders noted
EUR/USD has extended it’s early sell-off, presently at 1.3925 having just posted a 1.3917 session low. Risk sentiment doesn’t seem to be in very good shape; stocks oil down. Sources do however note some buy orders lined up at 1.3900 and then again quickly at 1.3885/90, which should at...