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Last week’s Foreign Currency Trading Review

The Dollar managed to stall the recent losses against the Euro but lost more ground against riskier currencies as stock markets tested highs around the world. The break above 10000 on the Nikkei helped most Yen crosses to test fresh year highs. US retail sales were at expectations of 0.5% in May. Also June Consumer Sentiment increased to 69 vs. 68.7 previously. Oil broke above $70 a barrel for the first time this year. The Euro couldn’t muster fresh gains this week as the USD received broad support from its status as reserve currency around the world. Multiple Finance minister have offered there support both for the USD and US bonds in the past week. Industrial Production (April) dropped 1.9% vs. -1.4% previously. The EUR/USD gained 0.33% closing at 1.4016, after opening the week at 1.3970.

The Japanese Yen couldn’t break past 99 Yen but did mange new highs on the AUD/JPY and GBP/JPY as the carry trade roared back on commodity gains. Final Q1 GDP was upgraded to -3.8%. The GBP rebounded well after Political concerns faded. EUR/GBP traded at fresh year lows. Manufacturing Production gained 0.2% vs. -0.1% forecast.GBP/USD gained 2.82% closing at 1.6442 after opening at 1.5978. The AUD surged ahead as Unemployment numbers of -1.7K beat forecasts of -30k and commodities rallied. Consumer Confidence surged the most in 22 years up 12.7%. The AUD/USD closed up 2.36% at 0.8122 after opening at 0.7930.

The Forex Currency Trading week preview

In the States; on Monday, TIC Flows (April) previously at 23.2BN. On Tuesday, PPI (May) forecast at 0.6% m/m. Also released, May Housing starts are forecast at 485K whilst building permits (May) is forecast at 500K. May Industrial Production is forecast at -0.9% vs. -0.5% previously. On Wednesday CPI (May) are forecast at -0.9% vs. -0.7%. On Thursday, weekly Jobless Claims are forecast at 610K vs. 601K previously. We will provide our previews and reviews of these data releases in the daily summary.

In the Eurozone; On Tuesday, German Zew Survey forecast at 35 vs. 31 previously. On Wednesday, Trade Balance is forecast at -1.5Bn in April. On Friday, German PPI (May) is forecast flat vs. -1.4% previously m/m. In the UK; On Tuesday, CPI (May) is forecast at 2.0% y/y vs. 2.3% previously. On Wednesday, BOE minutes released along with ILO Unemployment Rate (April) forecast at 7.35 vs. 7.1% previously. On Thursday, Retail Sales (May) forecast at 0.3% vs. 0.95 previously. We will provide our previews and reviews of these data releases in the daily summary.

In Japan; On Tuesday, BOJ meet and are forecast to hold at 0.1%.On Friday, BOJ minutes form the meeting released. We will provide our previews and reviews of these data releases in the daily summary.

In Australia; RBA minutes on Tuesday the highlight. We will provide our previews and reviews of these data releases in the daily summary.

Euro – 1.3970

Initial support at 1.3793 (May 28 low) followed by 1.3728 (May 21 low). Initial resistance is now located at 1.4178 (Jun 11 high) followed by 1.4267 (Jun 5 high)

Yen – 98.15

Initial support is located at 97.09 (Jun 5 low) followed by 96.52 (Jun 2 low). Initial resistance is now at 98.89 (May 7 high) followed by 99.74 (April 13 high).

Pound – 1.6380

Initial support at 1.6242 (Jun 10 low) followed by 1.6041 (Nov 6 low). Initial resistance is now at 1.6662 (Jun 3 high) followed by 1.6739 (61.8% retrace).

Australian Dollar – 0.8075

Initial support at 0.7968 (Jun 8 low) followed by the 0.7828 (Jun 10 low). Initial resistance is now at 0.8263 (Jun 3 high) followed by 0.8378 (Sept 26 high).

Gold – 937

Initial support at 936 (May 21 low) followed by 925 (May 20 low). Initial resistance is now at 965 (Jun 5 high) followed by 983 (June 3 high).

Forex Trading involves substantial risk of loss, and may not be suitable for everyone.

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Achieve Currency Trading Wealth With This Easy Steps

Trading with foreign currencies, better known as Foreign exchange trading is viewed to be one of the most promising investing option. It is not very difficult to learn forex trading, and any one can acquire the skills to trade with currencies. However, the fact is that over 9/10th of people trading currencies lose their money. So, how tough is it to actually make successful inroads in the market of currencies? Experts say, if certain rules and advices are followed, it is possible for any one to achieve currency stock trading success.

Success in this market comes with the implementation of proper methods, discipline and a positive mindset. This is basically the reason of most people ending up with losing money. Along with the right knowledge of proper forex trading, one also needs to have the above referred virtues as well in order to succeed. This article will discuss some ways to create the proper mindset that is required for currency trading success.

1. Intelligent working and not hard working is the key: In the field of forex trading, one needs to work smart and not necessarily hard. While in most cases, your accomplishment will be dependent on the effort made behind a particular task, but here at foreign exchange trading, success comes only when he or she is correct in making the proper decision. There are certain myths related to Forex trading. The investor with proper knowledge of the market should never pay heed to such myths, and make the right decisions, which will help him succeed. By working smartly one can learn all about forex trading within a fortnight and start making profits the next day itself, since forex is one of the investment options option there is

2. Having confidence is the basic preparation: One needs to have confidence to succeed in any kind of job, disregarding of whether it is trading or not. People do not talk much about confidence as a key component of successful trading, but according to most experts in this field it is an extremely important factor which comes into play during implementation of a transaction. This is something that no tutorial on earth can imbibe in you. It generally comes from within. The confidence can only come in when one has accomplished understanding about the forex market and its running.

3. Without discipline, one cannot think of achieving success: This virtue happens to be the most vital component of successful currency trading. Each method of yours must be clubbed with discipline otherwise it cannot be considered as a method in the first place. It comes into effect only when one has expertise over the market fundamentals and also is confident about his or her trading capabilities. These three qualities: confidence, knowledge and discipline are the only key components that help you to achieve currency trading success.

4. Passion to succeed: One needs to have passion about what he/she is doing. Although this is not a prerequisite for forex trading, but if you have it, one can be rest assured that he/she is in the right track. Acquiring knowledge would not be a problem for the passionate, its just the assurance and the discipline that one requires to control, and then success is inevitable with the your wanted goal setting.

What Are ETFs?

Learn penny stock trading. Ever thought of trading ETFs? ETFs stand for Exchange Traded Funds. ETFs represent an ownership stake in a basket of underlying assets or securities. This basket can represent a specific index like the S&P 500 or the Nasdaq 100. It could be a segment of market like the small cap, large growth stocks. It can also be a sector like semiconductor, energy, travel. There are even ETFs on foreign currencies like Euro, Yen, and USD.

Join sector hunter service.The value of the ETF is determined by the underlying securities. It can also comprise of bonds, gold, silver or other commodities. So you may be thinking this sound like investing in a mutual fund. Discover a revolutionary new forex robot.

ETFs can be brought and sold throughout the trading day like ordinary stocks. ETFs are different from the Mutual Funds in a number of ways. The unit price of ETF changes instantaneously unlike the Mutual Funds that are priced at the end of the trading day.

There is no minimum for ETF purchases. ETFs can be traded using the market, limit and stop loss orders. ETFs can be shorted, traded with a margin account and many trade options. So ETFs offer the diversification advantages of mutual funds and the flexibility of stocks.

One of the main advantages of ETFs is that they offer diversification. Suppose you have a bullish opinion on the oil sector. You will have to analyze dozens of companies in the oil sector and spend hours to select the one that you think is the strongest.

ETFs provide you the benefit of diversification in the same way that mutual funds do to the small retail investors. You could choose the Oil Sector ETFs that would give you the advantage of mimicking some oil sector index. Instead of investing in a few stocks you have now invested in a particular sector just like investing in a mutual fund.

The key advantage that ETFs hold over mutual funds is that they can be sold or bought at anytime of the day. ETF prices keep on changing in relation to the underlying assets. However, mutual funds are priced only once at the end of each trading day.

Another main advantage of ETFs over mutual funds is the fees charged by each. A mutual fund charges management fees and can also charge upfront, backend or other sales loads. Expense ratios for ETFs on average are not more than 0.4%. ETF expenses are low because they are passively managed and generally follow an established index.

Foreign currency trading is not just for gamblers or commodity traders. Currency trading has become extremely popular among the institutional investors, big companies and hedge funds.

Foreign currency has become a respected asset classification and is so hot that now you can trade Exchange Traded Funds (ETFs) on currencies. As with any other product there are advantages and disadvantages of trading ETFs.

What Is Moving Average Convergence Divergence (MACD)?

Understand the forex market.Moving Average Convergence Divergence, acronym MACD and pronounced Mac Dee is one of the simple and most reliable technical tools in your trading arsenal as a currency trader. MACD is a trend following momentum oscillator or indicator and is used often by most of the traders.

MACD is a lagging indicators and it shows the relationship between two moving averages of recent prices. Most technical indicators used in technical analysis are lagging. This means they are slow and they just tell you after the fact what just happened. Learn forex news trading.

Technical analysis is based on the belief that past prices can be used to predict the future prices in the currency markets. Learning technical analysis is essential for you as a currency trader.Discover trend forex system.

There are many chart types used in the technical analysis. Technical analysis helps you to read your charts and analyze them with a number of technical indicators. Using technical indicators is the key to understanding the market behavior.

MACD is calculated by subtracting a slow exponential moving average (EMA) like 55 from a fast exponential moving average like 21. Signal line is calculated by the taking the EMA of MACD for a number of bars like 8. The Histogram is the difference between the MACD and its signal line. 55 and 21 are the number of periods that you use.

MACD is one of the most popular indicators used in currency trading. However, beware that MACD is often misunderstood and misused. Like any other technical indicator you should use it in conjunction with other technical indicators.

Crossovers: When MACD falls below the signal line from above, it is a bearish signal. It indicates the time to sell. Conversely, when MACD rises above the signal line from below, it is a bullish signal. It indicates that you should buy.

Divergence: When the price diverges from MACD, it indicates the end of the current trend. Negative Divergence is when the price action is rising and MACD is falling. Both the price action line and the MACD line are diverging. It is an indication of the change in the currency trend. That’s right! The lagging indicator that is supposed to follow the price is predicting future behavior of the prices in the market.

Dramatic Expansion: Dramatic expansion occurs when the shorter moving exponential average pulls away from the longer moving exponential average. Suppose MACD expands dramatically. It is an indication that the currency is overbought/ oversold and may return to normal soon.

You should make one thing very clear when you use a MACD. All the above three cases are important. They should not be overlooked by you as a currency trader. However, none of them alone are signals for entering or exiting a trade. MACD Divergence is tradable when confirmed by other indicators. If you simply start trading on MACD Divergence, it may not yield a profitable trade.

However, when confirmed by other technical indicators, success is more likely. This is because of the fact that several things are happening at the same time. Each is attracting the same bulls and bears into the trade that you are planning to make. So you have to confirm your finding with other technical indicators.

When you use MACD, crossovers and dramatic rises are usually easy to spot. Even novices can do that. However, spotting MACD divergence correctly comes after a little practice.

Forex Robots How To Automate Forex Trading

Forex trading no matter what platform, broker or signals you use, involve a risk of losing your investment, Earning and losing is exactly as the graphs shown with the forex trading, it can go up or down.

One available element online that could make your experience with forex trading easier and profitable is the Forex robots, some of them were professionally designed to bring you the experience of successful traders. They designed these robots to behave exactly as they themselves do. The robote uses their data to analyze the behavior of the currency pair required, and then estimate the changes and using a formula to minimize the risk and maximize the earning.

Because Forex trading is so popular and profitable online, more and more services were invented to supply some need for people involved with forex trading, like forex training matereals such as ebooks, cources and videos, or forex brokers with different features, forex platforms that make the trading easier. And most important the forex robots, that allow you to benefit from the experts themselves not by learning from them but by trading like them.

They have put their pattern of trading in a software that can analyze the wanted currency pair, then calculate a take profit and stop lose parameters, in a way that guarantee a profit.
How can forex robots guarantee a profit?

The two most important parameters in forex trading is the take profit and stop loss parameters, the robot (if it’s a professional robot) can calculate those two parameters, in a way that can guarantee a profit no matter if you are buying or selling. It is easy to understand the algorithm behind it, but it impossible to implement this algorithm without the software.
Our human nature prevent us from stopping a winning deal and be satisfied from the small amount of profits, when we see that we are bidding on a winning deal we stretch the line to win more and more, greed drive us to eventually lose the deal instead of winning some money out of it.

The changes with each given pair could be anticipated, but dramatic changes also can happen. To know when to stop and when to withdraw is the most important element of making money with forex trading. And no matter how hard you can try you cannot do it correctly.

That’s way a good designed forex robot can help you out. It can make you decrease the odds of losing your money, and increase the earning

As normal with each demand and supply comes the worthless products, scams and frauds. There are hundreds of software claimed that they can make you money with forex, most of them worthless and cannot deliver any thing. However there are other robots that were developed by highly experienced forex traders so you can use it and make real profit from it.

We have found two very powerful and popular forex robots, that we can highly recommend, go to Forex robots and see what we are talking about.

These two forex robots works great for us, you don’t need to be expert in forex trading or in software to work with these two robots and they can make you money easy and fast. They are different from each other and have different algorithm but both are great. And you only need one of them.