FXFRED The Independent Forex Forum http://www.fxfred.com/ This is a discussion forum from FXFRED The Independent Forex Forum en Sun, 05 Sep 2010 16:59:16 GMT vBulletin 60 http://www.fxfred.com/images/solido/misc/rss.jpg FXFRED The Independent Forex Forum http://www.fxfred.com/ Money Matters: Easy Transfers by CONTACT http://www.fxfred.com/showthread.php?t=1488&goto=newpost Fri, 03 Sep 2010 16:52:25 GMT In money matters, United World Capital is unbeatable: clients can benefit as of now from the advantages of easy money transfer through the new... In money matters, United World Capital is unbeatable: clients can benefit as of now from the advantages of easy money transfer through the new system, CONTACT.



More... ]]> United World Capital - Company News FXFRED http://www.fxfred.com/showthread.php?t=1488 Happy Ramadan to Our Clients! http://www.fxfred.com/showthread.php?t=1487&goto=newpost Fri, 03 Sep 2010 16:52:25 GMT The month of Ramadan, this year starting on 11th August, is a time of spiritual contemplation and prayer for all Muslims around the globe. ... The month of Ramadan, this year starting on 11th August, is a time of spiritual contemplation and prayer for all Muslims around the globe.



More... ]]> United World Capital - Company News FXFRED http://www.fxfred.com/showthread.php?t=1487 United World Capital - An Ongoing Success Story http://www.fxfred.com/showthread.php?t=1486&goto=newpost Fri, 03 Sep 2010 16:52:25 GMT If there were Oscars for successful forex brokers, United World Capital would definitely be among the nominees. More...... If there were Oscars for successful forex brokers, United World Capital would definitely be among the nominees.



More... ]]> United World Capital - Company News FXFRED http://www.fxfred.com/showthread.php?t=1486 Public Holiday: Assumption Day http://www.fxfred.com/showthread.php?t=1485&goto=newpost Fri, 03 Sep 2010 16:52:25 GMT Dear Clients, on 15th August the Feast of Assumption Day begins for all those of Catholic and Oriental Orthodox faith. More...... Dear Clients, on 15th August the Feast of Assumption Day begins for all those of Catholic and Oriental Orthodox faith.



More... ]]> United World Capital - Company News FXFRED http://www.fxfred.com/showthread.php?t=1485 Withdraw Your Profit! http://www.fxfred.com/showthread.php?t=1484&goto=newpost Fri, 03 Sep 2010 16:52:25 GMT Why wouldn?t you reap the benefits of being a credit or debit card owner and withdraw your profit? More...... Why wouldn?t you reap the benefits of being a credit or debit card owner and withdraw your profit?



More... ]]> United World Capital - Company News FXFRED http://www.fxfred.com/showthread.php?t=1484 Advertise and Win with United World Capital! http://www.fxfred.com/showthread.php?t=1483&goto=newpost Fri, 03 Sep 2010 16:52:25 GMT Would you have thought that the shortest way to win a prize is between a click and a website URL? More...... Would you have thought that the shortest way to win a prize is between a click and a website URL?



More... ]]> United World Capital - Company News FXFRED http://www.fxfred.com/showthread.php?t=1483 Global Forex Trading Hits $4 Trillion Per Day http://www.fxfred.com/showthread.php?t=1482&goto=newpost Thu, 02 Sep 2010 12:44:36 GMT Powered by DailyForex – Simplifying Forex Trading
By Dr. Mike Campbell | Thursday, September 02, 2010 GMT




Back in the good old days, all international trading was carried out in gold. This meant that a trade in any currency could be converted into gold bullion and all currencies were of a fixed worth against each other. Of course, as global trading volumes grew, the system was bound to fail as nations were forced to devalue their currencies for a raft of different reasons, and the supply of gold could not keep pace with demand. The system transitioned to a “gold standard” where a single currency (the US Dollar) could be redeemed for gold, but this mechanism too, could not stand the test of time.

Today (with some notable exceptions), currencies are free to float in value against each other and money can be made by anticipating if a currency is appreciating or depreciating in value. A report that was three years in the making, has just been issued by the Bank for International Settlement. It has determined that approximately $4 trillion Dollars are traded on the world’s foreign exchanges every day. This means that the financial equivalent of the world’s economic output churns through the system every two weeks.

The majority of Forex trading is done through London (37%) with New York handling about half of this volume. The US Dollar is the world’s most heavily traded currency, accounting for 85% of all trades (this is down from 90% in 2001 due to the rise in importance of the Euro). The Euro/Dollar has become the dominant currency pair and is responsible for almost a third of all transactions (28%).

With the sheer scale of the global Forex market, it is easy to understand how a single nation, say Japan, will have problems in maintaining the value of its currency within a desirable band in the free marketplace.



More... ]]> Admiral Markets - Company News FXFRED http://www.fxfred.com/showthread.php?t=1482 Daily Report: Markets Stabilized from Risk Rally, Focus Turning to ECB http://www.fxfred.com/showthread.php?t=1481&goto=newpost Thu, 02 Sep 2010 12:44:36 GMT Market Overview | Written by ActionForex.com | Sep 02 10 07:32 GMT Dollar and yen stabilized a bit... Market Overview | Written by ActionForex.com | Sep 02 10 07:32 GMT




Dollar and yen stabilized a bit today. Asian equities are sharply higher following the 2.54% rally in DOW but somewhat failed to extend momentum further. The unexpectedly low trade surplus of Australia, at AUD 1.89b in July, which was almost half of expectation, added to signs of slowdown in global recovery. Swissy, on the other hand, is trying to regain strength after stronger than expected GDP report which showed 0.9% qoq, 3.4% yoy growth. After all, markets will likely stay in range ahead of ECB rate decision and press conference today.

At today's meeting, ECB president Trichet is expected to leave the main-refinancing rate unchanged at 1% and reiterate the view that current interest rates are 'appropriate' while 'the risks to the economic outlook are broadly balanced in an environment of uncertainty'. Market's focus will be on the press conference where Trichet will announce the new set of staff macroeconomic projections and extend emergency support for the Eurozone until early 2011. More in ECB To Extend Full Allotment Of Refinancing Operations Towards Year-End.

Other data to be watched include UK PMI construction, Eurozone PPI, Eurozone GDP revision, US non initial jobless claims, pending home sales and factory orders.

As mentioned before, the strong rally in stocks overnight did put some doubt in to our risk bearish view. However, we're still cautiously expect more risk aversion ahead for the moment with key levels in financial markets intact. That includes 10480 resistance in DOW. And 1.2921 resistance in EUR/USD. As long as these resistance levels hold, we'd still favor an eventual resumption in stock selloff and dollar rally.

In dollar index, the key near term level is 81.92. As long as this support holds, we'd still treat price actions from 83.56 as consolidation to rally from 80.08 only. We're still favoring the case that whole fall from 88.70 has finished and a break above 83.56 will bring further rise towards 61.8% retracement at 85.40 at least. However, decisive break of 81.92 will argue that fall from 88.70 is possibly still in progress for at least another test on 80 psychological level.
GBP/JPY Daily Outlook
Daily Pivots: (S1) 129.20; (P) 130.06; (R1) 131.32; More
Touching of 130.61 minor resistance suggests that a temporary low is in place at 128.63 and turns bias neutral for the moment. Some sideway trading might be seen but we'd expect upside to be limited below 133.57 resistance and another fall. Below 128.63 will indicate that whole decline from 137.75 has resumed and should target a test on 126.73 low next. After all, we'd hold on to the bearish view that rebound from 126.73 is finished at 137.75 as long as 133.57 resistance holds.

In the bigger picture, GBP/JPY is still trending well below the medium term falling trend line from 163.05 (now at 137.08) and thus fall from there is still in progress for a test on 118.18 low. Break there will confirm that whole down trend from 2007 high of 251.09 has resumed for 61.8% projection of 215.87 to 118.81 from 163.05 at 103.06 next, which is close to 100 psychological level. However, note that sustained trading above the trend line (now at 137.08) will argue that fall from 163.05 is finished and turn focus to 145.94 for confirmation. Also, this will suggest that such fall is merely the second wave of the whole consolidation pattern from 118.81 and will bring another rise to 163.05 and above before resuming the longer term down trend.





More... ]]> Admiral Markets - Company News FXFRED http://www.fxfred.com/showthread.php?t=1481 Daily Report: Sentiments Lifted by China Data, Aussie Soars on GDP http://www.fxfred.com/showthread.php?t=1480&goto=newpost Wed, 01 Sep 2010 20:21:36 GMT Market Overview | Written by ActionForex.com | Sep 01 10 07:17 GMT Dollar and yen are mildly softer... Market Overview | Written by ActionForex.com | Sep 01 10 07:17 GMT




Dollar and yen are mildly softer today as sentiments are lifted mildly by solid manufacturing data from China. PMI manufacturing rose slightly more than expected to 51.7 in August while HSBC manufacturing PMI also rose back above 50 to 51.9. Asian equities are generally higher with Nikkei up more than 1%. Australian dollar and the Australian all ordinaries index are both particularly strong as boosted by strong GDP data. Q2 GDP rose 1.2% qoq, 3.3% yoy, easily beat expectation of 0.9% qoq, 2.8% yoy.

While Chairman Ben Bernanke said last week at the Jackson Hole conference that the Fed outlined several stimulus measures boost recovery and fight deflation, minutes for the August meeting unveiled that it will be far more difficult in execution that expected as Committee members do not appeared to be ready to enter into QE2. More surprisingly, the minutes stated that 'no member saw an appreciable risk of deflation'. This is in contrast with what we perceived over the past few weeks. More in No FOMC Member Sees Deflation Risks, Reinvestment For MBS Proceeds Mainly For Keeping Balance Sheet Stable.

Looking ahead, some many important economic data will be released today and be prepared for some volatility. Swiss SVME PMI is expected to drop slightly to 65.8 in August. Eurozone PMI manufacturing final is expected to be unrevised at 55 in August. Sterling PMI manufacturing is expected to drop slightly to 57. Note that sterling is the weakest European majors this week so far and any downside surprise today will likely send EUR/GBP further higher.
From US, Challenger job cuts and ADP employment change will be released today. ADP is expected to report 20k expansion in the private job market in August. ISM manufacturing index is expected to continue the fall from April's 60.4 and drops further from 55.5 to 53 in August. Construction spending is expected to drop by -0.5% mom in July.

An interesting development this week is the divergence in the fortune of Aussie and other commodity currencies on respective fundamental outlook. AUD/NZD jumps sharply to as high as 1.2814 so far today to extend the whole rise from 1.2090. We'll stay bullish in the cross and anticipate further rally to 1.3 psychological level and above.
AUD/CAD is also sharply higher this week and reaches as high as 0.9574 so far today. Current rise from 0.8576 is viewed as resumption of resumption of the whole medium term rise from 2008 low of 0.7164 and further rise is expected in medium term to 0.9912 high.
USD/CAD Daily Outlook
Daily Pivots: (S1) 1.0595; (P) 1.0633; (R1) 1.0693; More.
USD/CAD jumps to as high as 1.0671 but retreats mildly ahead of 1.0675 resistance. Intraday bias remains cautiously on the upside for the moment. Decisive break of 1.0675 resistance will further affirm our bullish view that medium term rebound is resuming and should target another high above 1.0851. On the downside, though, below 1.0573 minor support will suggests that more sideway trading would be seen first, with risk of another test of 1.0470 before recent rise resumes. Though, downside is still expected to be contained well above 1.0246 support in such case.

In the bigger picture, USD/CAD broke out of recent converging range, which suggests that rise from 0.9929 is possibly resuming. Break of 1.0675 will further affirm this bullish case and target 1.0851 and above. Also, note that this will also affirm the case that whole medium term fall from 1.3063 is completed and will target 38.2% retracement of 1.3063 to 0.9929 at 1.1126 at least, with prospect of extending further to 61.8% retracement of 1.1866. We'll favor this bullish case as long as 1.0246 support holds.





More... ]]> Admiral Markets - Company News FXFRED http://www.fxfred.com/showthread.php?t=1480 Price Distribution http://www.fxfred.com/showthread.php?t=1477&goto=newpost Wed, 01 Sep 2010 07:37:53 GMT Numeric representation of how many times each price occurred during a given period, Use on a 1 min chart, enter number of hours and minutes you want... Numeric representation of how many times each price occurred during a given period, Use on a 1 min chart, enter number of hours and minutes you want to look back. Useful in determining actual support and resistance levels.

More... ]]> MetaTrader Indicators and Expert Advisors FXFRED http://www.fxfred.com/showthread.php?t=1477 Daily Report: Risk Aversion Back, Yen Crosses to Heading to New Lows, EUR/CHF Extends http://www.fxfred.com/showthread.php?t=1476&goto=newpost Tue, 31 Aug 2010 13:34:14 GMT Market Overview | Written by ActionForex.com | Aug 31 10 07:07 GMT Yen strengthens across the board... Market Overview | Written by ActionForex.com | Aug 31 10 07:07 GMT




Yen strengthens across the board today as risk aversion dominates Asian markets. Nikkei dropped as much as -3.55% to close at 8824 in spite of yesterday's additional quantitative measures from BoJ. Former BoJ policy board member Nobuyuki Nakahara said that BoJ's measures were "too little and too late" and "can't stop the yen's advance." Asian equities are also broadly lower following late selling in US stocks which saw DOW back pressing 10000 level. USD/JPY, EUR/JPY and GBP/JPY have taken out minor support levels which indicates that last week's recovery is over and we'd likely seen new lows in theses yen crosses in near term. Swiss franc is also strong with EUR/CHF broken to new record low while GBP/CHF breaks 1.5825 support to resume recent down trend. Dollar is also benefited from risk aversion and is firm except versus yen and swissy.

Economic data released today so far are solid but provide little support to market sentiments. UK Gfk consumer confidence improved more than expected to -18 in August. Japan industrial production rose 0.3% mom, 14.8% yoy in July, retail sales rose 3.9% yoy in July, housing starts rose 4.3% yoy but PMI manufacturing dropped to 50.1 in August. Australian building approvals snapped a three month losing streak and rose 2.3% mom in July. retail sales rose more than expected by 0.7%. Swiss UBS consumption indicator rose to 1.86 in July.

Looking ahead in European session, some further volatility might be triggered by Eurozone data. Germany unemployment is expected to drop -20k in August while unemployment rate is expected to be unchanged at 7.6%. Eurozone flash CPI is expected to drop slightly to 1.6% yoy in August while unemployment rate is expected to be unchanged at 10% in July. Canadian GDP will be another focus today and is expected to rise 0.2% mom in July. US house prices, chicago PMI and consumer confidence will be released together with FOMC minutes.

DOW continues to struggle around 10000 level for the moment. Recent price actions since last week are clearly corrective in nature and thus favors our view that fall from 10719.94 is not over. As noted before, we'd expect fall from 10719 to resume whole medium term decline from 11258 eventually for another low below 9614 and sustained trading below 10000 level this week will further affirm our view. We'll stay bearish as long as 10480 resistance holds.
GBP/CHF finally takes out 1.5825 support today which confirms that whole decline from 1.8111 has resumed. It's a bit early to confirm if current fall is resuming the long term down trend from 2007 high of 2.4960. But near term outlook will remain bearish as long as 1.6063 resistance holds. We'd expect a test on 1.5111 low going forward.

EUR/CHF Daily Outlook
Daily Pivots: (S1) 1.2935; (P) 1.3039; (R1) 1.3099; More
EUR/CHF breaks 1.2970 low to resume the whole fall from 1.3923 and reaches as low as 1.2912 so far. Intraday bias is back to the downside and further decline should be seen to 100% projection of 1.4587 to 1.3072 from 1.3923 at 1.2408 next. On the upside, break of 1.3143 resistance is needed to signal that EUR/CHF has made a short term bottom. Otherwise, outlook will still remain bearish even in case of recovery.

In the bigger picture, fall from 1.3923 should be resuming long term down trend from 2007 high of 1.6872. 100% projection of 1.8234 to 1.4391 from 1.6827 at 1.2984 next, which is close to 1.3 psychological level, is already met. Sustained trading below 1.3 will pave the way to next medium term target of 161.8% projection of 1.6368 to 1.4315 from 1.5138 at 1.1816. On the upside, break of 1.3923 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.





More... ]]> Admiral Markets - Company News FXFRED http://www.fxfred.com/showthread.php?t=1476 Bank Of Japan Fiddles Whilst Yen Rises http://www.fxfred.com/showthread.php?t=1475&goto=newpost Tue, 31 Aug 2010 13:34:14 GMT Powered by DailyForex – Simplifying Forex Trading
By Dr. Mike Campbell | Tuesday, August 31, 2010 GMT




The Yen has continued to appreciate against the other major currencies despite the clear wishes of the Japanese government and the Bank of Japan. The currency is near a fifteen year high against the US Dollar and is trading at the highest level it has seen against the Euro for nine years.

The Bank of Japan has signalled that it will pump more money into the Japanese economy by providing commercial banks with low interest loans. The hope is that the money will be lent out to businesses cheaply (at a mark-up, of course) and will stimulate the flagging Japanese economy. The Bank of Japan has increased the provision to the commercial banks by 10 trillion Yen (~$117bn) which brings the total funding available through the measure to 30 trillion Yen.

Unfortunately, increasing the availability of funding to commercial banks by a third did not impress the currency markets. Gains that the Euro and Dollar had made in recent trading were erased yesterday as the Yen stayed stubbornly high. Overtures that Japan had made to certain of her trading partners, notably America, that the major nations should act in concert to help devalue the Yen went unheeded. A high Yen puts pressure on Japanese exports since they become more expensive in foreign markets. This tends to improve the balance of payments with Japan as her trading partner’s exports are cheaper in the Japanese market, helping to stimulate demand and, consequently, production in those nation’s economies.

In other words, a high Yen is bad for Japan, but may not be such bad news for her trading partners – unless they can only get the exports that they need from Japan and so have to pay a higher price, of course



More... ]]> Admiral Markets - Company News FXFRED http://www.fxfred.com/showthread.php?t=1475 Softs - Aug 30,2010 http://www.fxfred.com/showthread.php?t=1474&goto=newpost Mon, 30 Aug 2010 14:31:47 GMT Potentially, there are two major bullish technical patterns forming among the soft group More...... Potentially, there are two major bullish technical patterns forming among the soft group

More... ]]> Softs FXFRED http://www.fxfred.com/showthread.php?t=1474 Grains - Aug 30,2010 http://www.fxfred.com/showthread.php?t=1473&goto=newpost Mon, 30 Aug 2010 14:31:47 GMT On Friday corn eclipsed the fabled $4.39 level only to find a lack of excitement above, allowing for the trade to be pressured by profit-taking. ... On Friday corn eclipsed the fabled $4.39 level only to find a lack of excitement above, allowing for the trade to be pressured by profit-taking.

More... ]]> Agriculture Futures FXFRED http://www.fxfred.com/showthread.php?t=1473 Metals - Aug 30,2010 http://www.fxfred.com/showthread.php?t=1472&goto=newpost Mon, 30 Aug 2010 14:31:47 GMT Precious metals faded toward the end of the week as GDP reports were better than expected giving this market reason for investors to sell and take... Precious metals faded toward the end of the week as GDP reports were better than expected giving this market reason for investors to sell and take profits.

More... ]]> Metals Futures FXFRED http://www.fxfred.com/showthread.php?t=1472