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NZD/USD Technicals Bearish Below 0.83 But L/T Follow-Through Unlikely
Kiwi dollar remains firmly on the backfoot today.
EUR/USD Steady On China Slow Down
On Wednesday Euro/Dollar continued trading within 50 pip range. The European currency appreciated from 1.3534 to 1.3584 yesterday, matching the positive money flow sentiment at almost +9%, closing the day at 1.3543. This morning the Euro descended slightly, reaching 1.3529.
GBP/USD – Looks To Threaten Resistance At 1.66 Again
Over the last couple of months the GBP/USD has established and traded within a trading range roughly around the key level of 1.6450, whilst moving down to support at 1.6250 and up to 1.66.
S P 500 Uncertainty Abounds But No Immediate Bearish Threat
S P 500 closed 1.06 point higher (0.06%), however as prices were weaving in and out between gains and losses, it is more apt to say that prices are trading flat rather than mildly bullish. This flat trading was a result of uneven earnings reports, which caused market to be slightly
GOLD Weak And Vulnerable Below Trendline Resistance
GOLD The commodity remains weak and vulnerable to the downside following its Tuesday failed recovery. As long as the 1,267.75 level, its Dec 10’2013 high and its declining trendline continue to hold as resistance, risk remains lower
AUD/USD Returns To Key 0.88 Level
For the best part of the last month the Australian dollar has established and traded within a narrow range roughly between 0.88 and the recent resistance level at 0.90. However for the most part over the last week the Australian dollar has fallen sharply back down to the support level
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The Foreign Exchange market, also referred to as the “Forex” or “FX” market, is the largest financial market in the world, with a daily average turnover larger than the combined volume of all U.S. equity markets.
“Foreign Exchange” is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
The advantages of Forex trading come from the market’s unique features.
Forex 24-hours a day
Forex is a true 24-hour market, open continuously from 5:00pm ET on Sunday to 5:00 pm on Friday. With three distinct trading sessions in the US, Europe and Asia, you can trade on your own schedule and respond to breaking news.
Forex with Leverage
Leverage allows you to increase your total return on investment with less cash outlay. However, increasing leverage increases risk.
Forex – the Most Traded Market in the World
The sheer volume of Forex facilitates price stability in most market conditions. 85% of all forex transactions involve the 7 major currency pairs.