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October 31st, 2014 @ 10:23 am by Mark De La Paz

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Yen pairs are shattering resistance across the board following the earlier decision by the BoJ to underscore its dovish monetary policy. After months of disappointment as the BoJ Chief Kuroda found it difficult to push his fellow board members to do more we now have the BoJ announcing that free money is here to stay for an indefinite period of time. At a time when the FOMC gave its own QE a natural death the BoJ has come to the rescue announcing that it will be buying JGB’s to the tune of 8 to 10 trillion a month, roughly about $10 billion. Meanwhile Governor Kuroda is keeping his hands off the next round of government sales taxes saying that it was an issue for the executive though the Japanese Governments spokerman Suga is on the wires stating that future action between fiscal and monetary authorities will be coordinated. Interestingly there seems to be something of a cycle to the BoJ’s decision as we recall Q4 2013 as the start of  the banks aggressive monetary easing the last time.

USDJPYWeekly

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October 31st, 2014 @ 9:36 am by Muhammad Azeem

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eur-audThe EUR/AUD currency pair has changed the bullish movement into a down trend in one hour time frame and now it is a bearish trend. Short term resistance is present at 1.4408 level. Since yesterday, the EUR/AUD currency pair is dropping and this has created a bearish move in a down trend. As long as price movement is bearish, I would be probably looking for sell trades. If bullish candlestick closes above 1.4408 critical resistance level then bearish trend is going to end. In such situation, I would avoid trading and just keep re-analyzing the price movement.

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October 31st, 2014 @ 3:54 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD attempted to push lower yesterday, bottomed at 1.2545 but closed higher at 1.2611. The bias remains bearish in nearest term testing 1.2500. Immediate resistance is seen around 1.2630/50. A clear break above that area could lead price to neutral zone in nearest term but as long as stays inside the bearish channel I still prefer a bearish scenario at this phase.

eurusdhourly

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October 31st, 2014 @ 3:49 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD attempted to push lower yesterday bottomed at 1.5949 but closed higher at 1.5998. The bias remains bearish in nearest term testing 1.5875. Immediate resistance is seen around 1.6025/37. A clear break above that area could lead price to neutral zone in nearest term testing 1.6080, but overall I prefer a bearish scenario at this phase.

gbpusdh1

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October 31st, 2014 @ 3:43 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY continued its bullish momentum yesterday topped at 109.45. The bias remains bullish in nearest term testing 110.00. Immediate support remains around 108.70. A clear break below that area could lead price to neutral zone in nearest term testing 108.35 but overall I still prefer a bullish scenario at this phase.

usdjpyhourly

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October 31st, 2014 @ 3:41 am by William Gilday

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Screen Shot 2557-10-31 at 10.35.47

Hello traders and welcome to a Friday, that sounds so good. I wanted to end the week with a short blog on a currency pair that moves over 100 pips a day. For those of you who follow me I look at that before I chose a pair to trade the pair has to move over 80 pips a day on a 4 week average. You say why, because it placed the probabilities on the side of the trader. When this pair is in the trend whatever direction it trades very clean. If you look at this chart you can see how nice and clear the moves are. Trading is hard enough when we can find pairs that work for us I like to take advantage of that. Traders have a great weekend break and we will be back with you on Monday. Thanks again William…..

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October 31st, 2014 @ 3:38 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF attempted to push higher yesterday topped at 0.9610 but closed lower at 0.9557. The bias remains bullish in nearest term testing 0.9620 – 0.9685. Immediate support remains around 0.9530 followed by 0.9490. As long as stays inside the bullish channel I remain bullish.

usdchfhourly

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October 30th, 2014 @ 12:35 pm by Mark De La Paz

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We have just seen US Advance GDP coming at fast clip of 3.5% against a consensus forecast of 3.1% while the GDP Price Index came out 1.3% against a 2.0% consensus forecast. Given the split between headline figures and the inflation adjusted number implication is that growth is more about an increase in US output instead of higher prices. Don’t expect an early tightening but still look forward for a strong US dollar.

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