GBPUSD continues to move sideways above 1.4051 support. Consolidation in a range between 1.3503 and 1.4985 is expected in a couple of weeks. Deeper decline to 1.3700 could be seen if 1.4051 support gives way. Near term...
EURUSD remains in medium term downtrend from 1.4719. Deeper decline is still in favor, a break down below 1.2512 level will signal resumption of the downtrend, and the next target would be at 1.2400 zone. Key resistance...
President Barack Obama’s announcement that the budget deficit is set to hit $1.75 trillion or 12% of GDP is likely to lead to a bearish Dollar in the medium-long term. Meanwhile, forex traders are advised to follow...
The question of measuring risk and reward in the forex market is a very complex one. It is very difficult to find the correct response due to the inconstancy of market conditions. In this sense, risk and...
Despite forecasts for a depreciation of the Dollar, many economists are now saying that the negative housing data released from the United States yesterday may actually bolster the USD. These contradictory claims are a result of the...
Addressing Congress yesterday, President Barack Obama made an effort to boost confidence in the economy by stating that America could recover and emerge from this crisis stronger than ever. His recent stimulus plan, he says, is meant...
The worst thing a trader can do is lose control while on a winning streak. This is where trading in the foreign currency market is similar to gambling. Players who do not know when to stop end...
Relative Strength Index (RSI) is used to quantify the strength of the entire set of ascending movements in opposition to all descending movements within a given period of time. The following is the Relative Strength Index equation:
Many buyers and sellers consider unstable markets to be a time of favorable conditions for trading. While large market variations can represent a great chance for profit, they can also mean losing a lot of money if...
USDJPY breaks above 94.61 previous high resistance, suggesting that a cycle bottom has been formed at 87.12 on daily chart and the fall from 110.60 (Aug 15, 2008 high) has completed. Further rally is now in favor....
