Forex and Trading News

May 16, 2012

Louis Mccauley brings you the Midday Snapshot in this video, which reviews and analyzes the trading activity in relation to the actual market movement. EUR/USD pair has been trading in a range of 61 pips and it was back near the opening level at noon. Traded volume is high—53% up from the monthly average and the trader’s sentiment is neutral—13% short. Both bulls and bulls had their profit opportunities as the trend shifted late in the session. The GBP/USD pair recovered slightly following the drop with the price movement of 28% in the red at midday. and measures the volatility at 102 pips. The trader’s sentiment is neutral—6% short. Traded volume is extremely high—116%. Profits are more likely for bears but the late rise provided some chances for both as well.USD/JPY pair has been mostly climbing higher with the price movement of 0.16%. Volume is extremely low—56% and trader’s sentiment is 25% short. Uptrend makes losses more likely for investors but the slow trading should keep them at bay. GBP/JPY has dropped and followed by a rise and most of the losses cancelled out after 12 hours of trading and measures a volatility of 84 pips. Traded volume is average—4% and the trader’s sentiment is neutral at a balance. EUR/JPY downtrend is followed by a rise from the low of 101.91 and the rate was 0.10% up from the opening level at noon measures a volatility of 55 pips. Trading has been passive and the trader’s sentiment is neutral—5% short and the traded volume is extremely low—58%.

May 16, 2012

Jennifer Cordingley speaks about the support and resistance level report in this video. The support levels for EUR/USD pair are S1—1.2680, S2—1.2620 and S3—1.2530. The resistance levels are R1—1.2770, R2—1.2840 and R3—1.2950. EUR/USD pair is trading in the range limited by R1—1.2770 and S1—1.2680 levels. R3 leads in resistance having found 8 matches. R2 sees 4 confirmations. R1 has a single match. S2 is a 12 months low with a total of 3 confirmations. S1 and S3 have found single match each. The support levels for GBP/USD pair are S1—1.5940, S2—1.5900 and S3—1.5810. The resistance levels are R1—1.5980, R2—1.6060 and R3—1.6130. The GBP/USD pair is trading between R1 and S1. R3 has 9 confirmations including 20 day Moving Average. R2 has found 4 matches and R1 has 50 day Moving Average among its 3 confirmations. S3 is near price channel indicator lower line, a 100 day Moving Average and 3 other studies. S1 and S2 have found a single match each. The support levels for USD/JPY pair S1—80.20, S2—79.90 and S3—79.30. The resistance levels are R1—80.50, R2—81.00 and R3—81.40. USD/JPY has been trading at its closet levels of R1 and S1. R1 leads in resistance with 5 confirmations including 20 day Moving Average. R3 is near the 50 day Moving Average and one other model. R2 sees a single match. S2 is well confirmed with 21 matches including the 100 day Moving Average and the phsycologoical level. S1 has 8 confirmations and the lower support line S3 has a match with price channel indicator lower line, Bollinger lower band and 3 other studies. The support levels for USD/CHF pair are S1—0.9400, S2—0.9330 and S3—0.9280. The resistance levels are R1—0.9470, R2—0.9500 and R3—0.9590. USD/CHF pair is trading below the resistance of R1 and above S1 levels. R2 and R3 have found 3 matches each. R2 is a phsycological level and R3 is a 12 months high. R1 sees a single confirmation. S3 leads in support with 9 matches. S2 used to be a 3 months high and has a total of 5 confirmations and S1 sees a single match.

May 16, 2012

This is a video from Martin Smith with the daily outlook from UFXMarkets. Wall street closed the trading day negative as NASDAQ fell by -0.30%, the DOW lost by 0.50% and the S&P by -0.57%. US Stocks declined sending the S&P 500 index falling for the third day as the Commodity shares tumbled and Greece struggled to form a Government offset better than estimates economic data. US Dollar gained versus most of the majors, TRC long term purchases came out at 36.2 billion this month compared with the net purchases of 10.1 billion in February. Gold by -0.65% closing at $1,544 an ounce. Crude Oil also fell by -0.1% to its lowest level in 5 months and closing at $93 a barrel. Trading below the resistance level of 1.2820 will keep the momentum of EUR/USD pair negative and the pair may again test the support level at 1.2700. If the pair doesn’t break below this, it may rise to 1.2850 again. GBP/USD pair maintains its resistance level of 1.6060 and the trend remains bearish and the Bank of England inflation report is expected for release. The trend for the AUD/USD pair continues to be bearish, maintaining its resistance level above 0.9980, breaking the strong support level at 0.9920 to cause it to test the next support level at 0.9840.

May 16, 2012

In this video, Jason Alan Jankovsky — Forex analyst & trader, explains about — understanding the limitations of technical analysis. Most traders attempt to analyze the markets they trade using various types and kinds of technical analysis—everyone attempt to use a charting package of some kind. This video explains the theory of technical analysis and the limitations that are brougtht on by that theory inorder to open the door to more effectively use technical analysis in our market approach.

May 16, 2012

This is the first part of the series regarding Fibonacci retracement. Fibonacci is the name of an Italian mathematician, who wanted to calculate the increaserabbit population and came with these numbers. This video walks through the basics and explains how to construct the Fibonacci numbers in a excel spreadsheet and come up with the Fibonacci retracement ratios.

May 15, 2012

This is part 4 of the series. This video shows you tips and tricks on how to quickly use the platform to your advantage. It explains you how to scroll through the currency pairs. This video explains how to use the crosshair — find out the number of the pips moved and the price at that point and how to use zoom in and zoom out features in the chart.

May 15, 2012

Jennifer Cordingley brings you the Midday Snapshot in this video, which reviews and analyzes the trading activity in relation to the actual market movement. EUR/USD pair has moved higher and total rise measures at 55 pips. The traders sentiment is neutral —7% short. Profits are more likely for bullish market players. GBP/USD paire has sharply moved lower and measures at 78 pips. The trader’s sentiment is neutral—8% long. Makes the day successful for traders with short positions. USD/JPY has been hovering at the opening level measuring the volatility at 16 pips. Trading has been passive and volume is extremely low and trader’s sentiment is bullish—17% long. In GBP/JPY pair, the Pound dropped against the Yen and the volatility measures at 63 pips. Trading has been active, the volume is high and the trader’s sentiment is neutral—7% long. Profits are more likely for traders with short positions. EUR/JPY pair has been trending higher and measures volatility at 61 pips. Traded volume is extremely low and the trader’s sentiment is strongly bullish—45% long.

May 15, 2012

Parabolic SAR is an indicator used by traders to find the direction of the pair’s most recent and significant momentum and more importantly larger than usual chances of reversing. The system itself is a stop and reversal system. It was developed by J. Welles Wilder. The dots above shows resistance and we will be selling and dots below is support and we will be buying. Its an indicator that gets chopped up in sideways market, so it definitely needs to trend and hence it is a trend following indicator.

May 15, 2012

Doireann McDermott speaks about the support and resistance level report in this video. EUR/USD is below the R1—1.2850 and above S1—1.2820. R3—1.2950 leads in resistance and has found 9 matches. R2—1.2880 has Bollinger lower bands among its 4 confirmations and R1—1.2850 has 3 matches. S1—1.2820 is backed by price channel indicator lower line and other alternative studies. The S2—1.2780 and S3—1.2710 support levels have single confirmation each. GBP/USD — has its closest levels of resistance at R1—1.6120 and support at S1—1.6090. The highest level of resistance at R3—1.6190 has found 9 matches. R2—1.6150 has 8 confirmation including 20 day Moving Average. S2—1.6060 leads in support with 5 matches. and S1—1.6090 has 3 confirmations. USD/JPY pair is currently between R1—80.00 and S1—.79.70. R1 is a phsycological level with total of 18 matches. R2—80.40 has 20 day Moving Average among its 3 confirmations R3—80.90 has a single match. S1—79.70 has 15 matches including the 100 day Moving Average and S2—79.40 has price channel indicator lower line among its 4 confirmations. The S3—79.10 is near Bollinger lower band and has 150 day Moving Average among its other studies. USD/CHF pair is trading in the range limited by R1—0.9370 and S1—0.9330. R2—0.9400 leads in resistance with 3 confirmations and R1—0.9370 is backed by price channel indicator upper line among other models. The R3—0.9450 sees a single match. S2—0.9280 has 11 confirmations and S3—0.9250 has 7 matches. S1—0.9330 is a 3 month high and has a total of 6 confirmations including Bollinger upper bands.

May 14, 2012

Jennifer Cordingley speaks about the support and resistance level report in this video. EUR/USD pair has the closest levels of 1.29 — resistance and 1.2870 — support level. R3—1.2970 is the previous 3 months low with a total of 9 matches. R2—1.2930 has 8 confirmations including Bollinger lower band and R1— 1.2900 has price channel indicator lower line among its 4 matches. S1—1.2870 leads in support with 2 confirmations and the other 2 support levels S2—1.2840 and S3—1.2810 levels have found single match each. GBP/USD pair is below R1 of 1.6090 and above S1 of 1.6050. R2—1.6130 leads in resistance with 11 confirmations including 20 day Moving Average. R3—1.6180 has found 10 matches and R1—1.6090 sees 3 confirmations. S1—1.6050 has 4 matches and S3—1.5960 is backed up by 50 day Moving Average. S2—1.6000 is the phsycological level with total of 2 confirmations. USD/JPY — is trading in the range limited by R1 of 80.10 and S1 of 79.80. R1 has found 13 matches and R2—80.40 has 20 day Moving Average among its 5 confirmations. The highest resistance R3— 80.80 has 2 matches. S1—79.80 is well confirmed with 19 matches including the 100 day Moving Average. S2—79.50 has found 7 matches including the price channel indicator lower line and S3—79.20 is confirmed by the Bollinger lower Bands and 2 other models. USD/CHF pair was last seen trading between R1—0.9330 and S1—0.9330 levels. R1 is a 3 months high with a total of 5 confirmations. R2—0.9370 and R3—0.9410 have found single matches each. S2—0.9270 leads in support with 14 confirmations. S1—0.9300 has Bollinger upper bands and price channel indicator upper line among its 7 matches. S3—0.9240 has 6 confirmations.