How to make money from forex trading?
When you do a forex trade, it means you buy a currency in exchange for another, hoping that the currency you bought will increase in value
When you do a forex trade, it means you buy a currency in exchange for another, hoping that the currency you bought will increase in value
uk forex trading
Todays Forex Trading
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
The euro trading off its highs of 1.4648/50 at 1.4620 at time of writing, the German ZEW figures lowering the single currency. Should Eurodollar drop below and hold 1.4580, expect a move back to 1.4560/65 ahead of the 38.2% fib ret level for the week at 1.4520. Resistance at 1.4620/25 ahead of 1.4650/60 (having now had three attempts over the last 24 hours). Favoring further downside pressure in early US trading, however, the US retail figures out later this afternoon the key for today’s direction.
The Yen is still being sold off against the dollar and the euro, however higher against the pound. Chinas trade war with the US the major influencing factor to Yen weakness over the last 24 hours. A plateauing seen at time of writing, now looking for direction at the US open. Support at 91 ahead of 90.90. Resistance at 91.30 (38.2% fib level) ahead of the 50% at 91.65 for the weeks trading.
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
The euro trading off its highs of 1.4648/50 at 1.4620 at time of writing, the German ZEW figures lowering the single currency. Should Eurodollar drop below and hold 1.4580, expect a move back to 1.4560/65 ahead of the 38.2% fib ret level for the week at 1.4520. Resistance at 1.4620/25 ahead of 1.4650/60 (having now had three attempts over the last 24 hours). Favoring further downside pressure in early US trading, however, the US retail figures out later this afternoon the key for today’s direction.
The Yen is still being sold off against the dollar and the euro, however higher against the pound. Chinas trade war with the US the major influencing factor to Yen weakness over the last 24 hours. A plateauing seen at time of writing, now looking for direction at the US open. Support at 91 ahead of 90.90. Resistance at 91.30 (38.2% fib level) ahead of the 50% at 91.65 for the weeks trading.
uk forex trading
uk forex trading
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
UK economic data came out better than expected across the board, the UK inflationary figures 1.6% rather than the 1.4% predicted. This data particularly could see an ending to the quantitative easing program and thus see a return to the risk aversion trades once again. Whilst the RICS house prices from the UK gave the pound its boost, gains now given back with the pound following the euro as worse than expected ZEW figures from Germany’s hitting the risks in early European trading.
With added comments from BoE’s governor King stating that they are looking to reduce the interest paid on bank deposits, sterling remains under threat for a further drop towards 1.6480 ahead of the 3 month 61.8% ret level of 1.6390/00. The trade war between China and the US affecting the US equity futures which are looking for a lower open at time of writing assisting the strength of the greenback. The US retail figures out later this afternoon are due to come out better than expected giving further momentum to the strength of the dollar.
Cable trading at 1.65 at time of writing, having come off the highs of 1.6660 having seen a ‘double top’ during mid morning trading. Economic data has come out better than expected though as mentioned, the ‘King” comments now weighing on sterling along with the expectation that US retail figures come out better than expected. With stocks starting to head higher along with the oil and gold prices, expect a move back up to the 1.6530 level before direction re confirmed. Support at 1.6480 ahead of 1.6450. Should momentum continue, the next major support now seen at 1.64. Resistance at 1.6530 (50% ret level for the week) ahead of the 38.2% level at 1.6580. The US retails the key for early US trading direction.
What is Forex Trading
What is Forex Trading
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex markets currently exceeds US$ 2 trillion. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks What is traded in Forex Trading ? The answer is Currency. Currencies are always traded in pairs, such as EUR/USD, GBP/USD, etc. Why ? Because when you trade forex, you are exchanging 1 currency to another currency simultaneously (buying 1 currency and selling the other at the same instance). You will gain from differences of traded currency price rates.
When is the time to trade forex ?
Forex can be traded 24 hours a day and 5 days a week. The main trading centers are in London, New York, Tokyo, and Singapore, but banks throughout the world participate. The biggest foreign exchange trading centre is London, followed by New York and Tokyo. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the US session and then back to the Asian session, excluding weekends
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex markets currently exceeds US$ 2 trillion. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks What is traded in Forex Trading ? The answer is Currency. Currencies are always traded in pairs, such as EUR/USD, GBP/USD, etc. Why ? Because when you trade forex, you are exchanging 1 currency to another currency simultaneously (buying 1 currency and selling the other at the same instance). You will gain from differences of traded currency price rates.
When is the time to trade forex ?
Forex can be traded 24 hours a day and 5 days a week. The main trading centers are in London, New York, Tokyo, and Singapore, but banks throughout the world participate. The biggest foreign exchange trading centre is London, followed by New York and Tokyo. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the US session and then back to the Asian session, excluding weekends
Forex Option Trading
Forex Option Trading
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When most people think of trading currency they think of trading forex spots or currency pairs traded directly on the market. Not many people trade forex options, but they can actually be a very good method of either hedging your investment or outright speculating in them. An options is ...
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The Perfect Forex Trading System
The Perfect Forex Trading System
Many people search for the best forex trading system. Unfortunately the truth is that no trading system or strategy is perfect. All the best traders in the world have losing trades so their systems can not be perfect. So as the perfect trading system does not exit, we need to ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
Many people search for the best forex trading system. Unfortunately the truth is that no trading system or strategy is perfect. All the best traders in the world have losing trades so their systems can not be perfect. So as the perfect trading system does not exit, we need to ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
Forex Confidante Review
Forex Confidante Review
Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...Forex Confidante is an exciting new forex trading program developed by a well known accredited forex trader in Thomas Strigano. Unlike many of the systems and programs online that seems to be developed by unknowns in the forex field, Forex Confidante holds some serious credibility as it's developed by a ...
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