4:28 AM EST GBP Manufacturing PMI – Level of diffusion index survey in the manufacturing industry GBP/USD NOTE: This release comes out at 4:28 AM, not 4:30. One data provider gets the actual signal at 4:28 but all the rest get it a minute later. Ours gets it a minute later. So therefore we can…Details
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EUR/USD – Current 1.3315
4 hour View – Major resistance at 1.3410 area. A break heads back to 1.3500. 4 hour trend has been up but seeing some downside pressure.
Resistance – 1.3360 / 1.3385 / 1.3410 / 1.3470 / 1.3500
Support – 1.3341 / 1.3322 / 1.3303 / 1.3282 / 1.3264
Intraday Opportunities – Next leg lower begins with a break of 1.3300. Above 1.3350 could challenge 1.3385 and 1.3400
GBP/USD – Current 1.5480
4 hour View – Bears took over after market open on Sunday howeverDetails
For someone who is all geared up to venture into the Forex market and have just made their entries in to the the world of trading currency, the suggestion to take the time to learn currency trading before trading with real money may sound quite unappealing. People are often deceived by the glory of the…Details
It has indeed become crucial and vital in the recent times to understand the fundamentals of money exchange before venturing into this market. This puts much emphasis on acquiring what is an essential Forex trading education. This may seem like a daunting task, and ask for a great degree of perseverance and dedication, but such…Details
Forex investment is fast becoming an ideal and convenient way to make some quick bucks. By keeping an eye on the currency pairs that you think will yield profit, and holding them for the necessary period of time, one can for sure afford a fortuitous retirement. However, no matter how easy it may sound, it…Details
In my last post in this Learning Center series I gave some brief insight as to my journey in the Forex. In this article I will go over some simple concepts and Forex history. The Forex is a cash inter-bank and inter-dealer market that was established in 1971 when bank float exchange rates began to materialize between countries. Liquidity in this market is like no other. Prior to the recent and explosive international growth of the Forex the industry was limited to master traders who positioned themselves with a $100 million dollar account and were connected directly to the inter-bank currency exchange. Today, the exchange of currency has expanded from master Forex traders, banks, and trading floors to include home computers. The simplest definition of the Foreign Exchange is the exchange of one currency for another. Unlike the traditional exchange of the stock market, one may earn profits whether buying or selling within the Currency Exchange AKA Foreign Exchange or Forex. Banks are guaranteed a buy or sell twenty-four hours a day by the inter-bank currency exchange float. Through broker relationships and trading margin establishment, leveraged accounts are established and individual Forex traders are allowed to enter the market with home-based computers. Individual Forex traders now share the same leverage guarantee banks have.
To compare the Forex to other markets, the currentDetails
The banks are closed around the world on Monday and many on Tuesday also. There are one or two releases that I might try in other months, but it would be senseless to try them next week. We will start up again on the first week of January. I hope you all have a great…Details
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! This is a classic trend break pattern of the long uptrend. Open and Close below the trend line and retest before the next fall. Resistance with the trend break is backed up with the .786 fib of the most recent…Details
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Pending buy for the GBPUSD at 1.5350 area based on daily support. This pair found support in the mid 5300 for several days back in September. Looking for a repeat of that and a bounce back to the mid…Details
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Pending trade executed at 8:21am ET buying USDJPY at 83.55 area. With the exception of a few fundamental spikes the USJPY has been in a range between 83.50 and 84.50 since Nov. 24th. Even with the spikes we have…Details
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Buy posted at 8:21am ET buying at 0.9575 area. We have seen multiple supports line up at this level. Looking for a triple bottom bounce and continued signs of reversal after that. Market has ranged between 0.9575 and 0.9700…Details
As a beginner in the Forex market I wanted to learn everything I could to get an edge. I took multiple courses and entered into mentoring programs etc. I tried all of the technical indicators available in an attempt to find the “Holy Grail”. It wasn’t until after this extensive testing that I realized that success in the Forex market relied heavily on my ability to stick to the basics. All the indicators in the world won’t make you a good trader. I found that the more stuff I tried the more cluttered my screen got and the more confusing trading got. The process I underwent reminds me of a spiritual metaphor I once heard where the farmer who tills his soil and works his land decides to search for enlightenment. Eventually, after years of spiritual search for enlightenment, he finds what he was looking for right there, on his farm, tilling his soil and working his land. However the journey was necessary to discover and appreciate this.Details