Monday, March 31, 2008

Forex Information...

Hi Traders

How are you Today...are you have prepared for trading week...
Look at what's happen with some currency Today:
U.S. Dollar Trading (USD)-gave up its daily gains against a number of majors initially buoyed by Core PCE figures for the month of February which were inline with expectations rising by 2.0% for the y/y figures, whilst the monthly figure increased by 0.5% above forecasts of 0.3%. In other news the Michigan sentiment survey for the month March fell to 69.5, its lowest reading in 16 years...
USD/CHF-The pair is in a flat consolidation mode around the 0.9960 with no clear direction on the daily chart. The 4 hour chart is moderately bullish as the slow stochastic shows a positive slope. It appears that waiting for a significant bullish breach might be a wise choice before entering the market...
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What`s happen on the biggest market Today...

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The Euro (EURO) was very volatile on Monday sinking to 1.56 following the G7 commentary indicating U.S currency strength was a concern, before rebounding to within a cent of the all-time high as the G7 failed to convince investors that they will intervene to prop up the U.S currency. ECB President Trichet spoke at 21:30 GMT whilst in New York about the financial markets turmoil, indicating transparency was needed from corporations when reporting profit and losses to allow an efficient and effective recovery. The EURUSD traded at a high of 1.5886 and a low of 1.5660 before closing at 1.5800 in New York. No data is to be released for the Euro Zone on Tuesday.
EUR/USD-The pair has been going through choppy sessions with no distinct direction for the past seven trading days. Several attempts to breach through the 1.5900 level failed, and the pair is consolidating around 1.5830. The 4 hour chart is showing signals of local bullish momentum, as the Slow Stochastic have a positive slope. Going long with tight stops could be a good strategy today.....


Regards
Forex.DelijaWorld.com

Friday, March 28, 2008

What's Happen on Forex Market...

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U.S. Dollar Trading (USD)- was firm against a number of majors on the back of a string positive economic data. GDP figures were confirmed at 0.6% for the fourth quarter with an upward revision of consumption to 2.3% from the previous 1.9%...

EUR/USD-The pair is consolidating at 1.5780 on the short term, and it appears that the momentum on the 4 hour chart is moderately bullish. The daily chart is showing that an attempt to breach through the 1.5850 is quite imminent, and might occur as early as the beginning of next week. Going long appears to preferable today...




Have a nice weekend...
Forex.DelijaWorld.com

Wednesday, March 26, 2008

Forex Market News and Systems...

Hi Traders


First Look at Today:
The Japanese Yen (JPY): Nikkei index in Tokyo gained 2.1% after JP Morgan raised its bid for Bear Stearns soothed market jitters, as the Japanese Yen slipped back on the currency markets, reaching 101.03. However the dollar failed to maintain any gains on poor consumer confidence during the US session. Overall the USDJPY traded with a low of 99.63 and a high of 101.03 before closing the day at 100.31 in the New York session. UPDATE: Japanese Trade Balance for Feb seen at 970 bln (Forecast: 1146.4 bln; Prior: -79.3 bln)...

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Regards
Forex.DelijaWorld.com

Monday, March 24, 2008

Today's Forex market...

Hi Traders

Monday's it's time for trading and I hope that we have a good trading week, I believe in that because of I have found trading system which can help us to achieve our goals... Click here to read more...

Gold (XAU)-found support in the early part of the Asian session of trade with bargain hunters taking advantage of it two day tumble. XAU traded with a low of 911.00 and a high of 919.90 before closing the day at 919.10.

GBP/USD-The cable has breached through the 1.9810 which a key Fibonacci level and has validated the next bearish move. The RSI is heading to the 20 level and the slow stochastic shows no cross. It appears that going short with tight stops might be a good choice.

P.s. All The best in this trading weeks...
Forex.DelijaWorld.com

Saturday, March 22, 2008

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Friday, March 21, 2008

Pivot Points Formula, How To Trade ...

Hi Traders

Today's I wish to discuss about Pivot Points, The pivot point is the level at which the market direction changes for the day. Using some simple arithmetic and the previous days high, low and close, a series of points are derived. These points can be critical support and resistance levels.
The pivot level and levels calculated from that are collectively known as pivot levels.
If you would rather work the pivot points out by yourself, the formula you can use is below:

Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)
As you can see from the above formula, just by having the previous days high, low and close you eventually finish up with 7 points, 3 resistance levels, 3 support levels and the actual pivot point.

CURRENCY TRADING SUMMARY – 21 MARCH 2008
The Japanese Yen (JPY) had markets closed for vernal equinox day, although long carry trade positions continued to be unwound ensuring the JPY rallied against the Euro. Overall the USDJPY traded with a low of 98.46 and a high of 100.21 before closing the day at 98.70 in the New York session...

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