Support and Resistance is the most important thing Technical Analysis. Let’s start out our discussion by looking at a chart.
The placement of stops and limits is a critical component to successful trading. Stops are put on a trade to take a trader out of a trade at a predetermined point at a worse price than the...
USD/JPY – 91.07.. BOJ kept overnight call rate target unchanged at 0.10% and stated it will maintain very easy monetary conditions. Market reaction to the announcement is somehow muted.http://www.acetraderfx.com
GBP/USD – 1.5648..We did remind readers in our 07:01GMT update y’day to buy cable on dips n take profit b4 release of BOE’s meeting (dovish) minutes. The pound retreated b4 the release n briefly dipped to 1.5735...
Market Review – 17/02/2010 22:47GMT Dollar gains on upbeat U.S. data and possible assets sales program The dollar rose against its major counterparts after housing and manufacturing reports beat forecasts and Federal Reserve minutes showed officials proposed...
Market Notes: The TIC Flows report yesterday showed that China sold off enough US debt in December to let Japan become the new number one holder of US debt.
ForexPros Daily Analysis February 17, 2010 Fundamental Analysis: BOJ Press Conference The Bank of Japan will be holding a press conference, their preferred method of communicating with investors. Topics at such conferences generally include economic outlook, inflation...
Market Review – 16/02/2010 21:57GMT Euro rebounds on short-covering after Greece said it won’t need EU bailout Euro rose against the greenback on Tuesday after a Greek official said the nation is ahead of its deficit-reduction goals...
ForexPros Daily Analysis February 16, 2010 Fundamental Analysis: FOMC Meeting Minutes Traders of the US anticipate the publication of the Federal Open Market Committee (FOMC) Meeting Minutes. They are a detailed record of the committee’s interest rate...
GBP/USD Open 1.5660 High 1.5737 Low 1.5562 Close 1.5658After slight decrease on Monday, Pound/Dollar showed strength and started climbing from the 1.5614 bottom, towards Friday’s top and nearest resistance 1.5737. If that level is successfully penetrated upwards,...