Forex and Trading News

Probably one of the most frequently used indicators in technical analysis is the simple moving average. The concept of a moving average shows that the average value of a pair’s closing price over a certain amount of time. As seen in the daily chart, the 100 Moving Average shows the average price of the last 100 days. This is significant because it can be used to spot momentum, trends and potential support and resistance. There are different ways to use the moving average. As seen in the daily chart a second moving average with value 25 is used to identify quicker momentum shifts. There are different moving averages that you can use. These are the simple moving averages. The other commonly used moving average is the exponential average.

This is a video from Martin Smith with the daily outlook from UFXMarkets. Wall street declines all around with the NASDAQ falling by 1.00%, DOW by 0.43% and S&P by 0.67%. The US Dollar however gained against the most of the majors as talks to form a Governement in Greece failed. In commodities, Gold fell by 0.18% closing at $1,540 an ounce. Crude also fell by 0.54% to close at $92.77 a barell, the lowest in 5 months. Trading below resistance of 1.2780 is keeping the momentum of EUR/USD negative with the pair positively testing the 1.2625 again. The RSI points to trend remaining bearish. Overall the pair traded with the low of 1.2680 and high of 1.2758. GBP/USD pair is maintaining resistance at 1.6060 pointing to bearish trend eventhough it might test the 1.5876 again. If the pair breaks down below this it may even reach 1.58 level. The AUD/USD pair will also continue its bearish trend if it maintains resistance at 0.9980 level. Breaking this level to cause it to test the support level at 0.9865.

Louise Mccauley speaks about the support and resistance level report in this video. The support levels for EUR/USD pair are S1—1.2730, S2—1.2680 and S3—1.2620;. The resistance levels are R1—1.2760, R2—1.2840 and R3—1.2940. EUR/USD has the closest levels of R1 and S1. R3 leads in resistance and have found 9 matches. R2 and R1 have 5 and 3 confirmations respectively.
S1 has 6 matches including Bollinger lower bands and S2 has price channel indicator lower line among its 4 confirmations. S3 is a 12 month low with total of 3 matches. The support levels for GBP/USD pair are S1—1.5890, S2—1.5860 and S3—1.5810. The resistance levels are R1—1.5930, R2—1.5990 and R3—1.6110. The GBP/USD pair is trading in the range limited by S1 and R1. R3 sees 9 confirmations and R2 is near Bollinger lower bands, a pshycological level and 2 other studies. R1 has found 2 matches. S3 leads in support with 3 confirmations including 150 day Moving Average. The other two support lines S1 and S2 have 2 matches each and S2 is confirmed by price channel indicator lower line. The support levels for USD/JPY pair are S1—80.10, S2—79.80 and S3—79.50. The resistance levels are R1—80.40, R2—80.70 and R3—81.10. USD/JPY is below R1 and above S1. R1 leads in resistance with 9 matches including 20 day Moving Average. R2 has 3 confirmations and R3 has found single match. S2 is well confirmed with 18 matches including 100 day Moving Average. S1 is near the phsycological level and 10 other models. S3 has price channel indicator lower line among its 6 confirmations. The support levels for USD/CHF pair are S1—0.9410, S2—0.9360 and S3—0.9330. The resistance levels are R1—0.9440, R2—0.9470 and R3—0.9500. USD/CHF pair is trading between R1 and S1 levels. R1 and R2 have 4 confirmations each. R2 is backed up by price channel indicator upper line. R3 is a phsycological level with a total of 2 matches. S2 leads in support with 5 confirmations. S1 and S3 have found 4 matches each. S2 leads in support with 5 confirmations. S3 is a previous 3 month high.

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%.

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.

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.

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.

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.

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.

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.