Popular pairs in Forex

Without a doubt the EUR/USD and GBP/USD, as currency pairs, receive a great deal of attention by online Forex traders. Each provides tradable patterns almost every day. Why some traders prefer trading one of these pairs versus the other is almost a matter of personal preference. Both pairs will reflect global sentiment regarding the dollar. As a result, it is usually the case that they will share the same trend patterns. If world reaction to economic news is positive for the US economy, as a general rule, both the Euro and the GBP will tend to weaken. The chart below, for example, shows how the EUR/USD and the GBP have moved on the 1 hour pattern. Notice how similar the patterns are. The hour charts below show that both pairs provided a similar reaction to the Nov 4th economic release of the non-farm payroll report.Clearly, it is hard to develop an argument of which pair is better to trade. But there is more that the online Forex trader can do with these pairs. online Forex traders can generate totally new trading opportunities by dropping the US dollar component of the pair and, thereby, creating a Cross-pair known as the EUR/GBP Before we take a look at the EUR/GBP chart, let's try to understand what makes this pair a good source of trades, particularly, in the coming year.The best way to understanding this Cross-pair is to realize that it generates a picture of the battle between two different economies- the EU vs. the British economy. The EU countries experience different levels of economic growth and expectations of growth than that of Great Britain.

Saudi Forex Reserves Reach $250 Billion

By some measures, Saudi Arabia’s reserves are the fastest growing in the world.  The country’s reserves recently crossed the $250 Billion threshold, and are now growing at a pace equivalent to nearly 40% per year.  The source of the reserves should be a mystery to no one: oil.  Oil prices have surged over the last five years, bestowing a windfall of profits to the entire Middle East region.  Plus, as summer gets underway, oil prices are sure to climb further, which will ensure continued growth in Saudi forex reserves.  Fortunately for the US, the majority of the world’s oil contracts are settled in USD, which means the boom in oil prices has actually stabilized the USD, despite its contribution to the US trade deficit.  In addition, Saudi Arabia is one of the world’s most reliable investors in US capital markets, which means Dollar bulls can breathe a cautious sigh of relief that reserve “diversification” will probably be given short shrift by the Sauds

Warning!! Be Ware of "SCAMS"

Warning ! Do you get these kind of emails ?
Do not fall for this scam !
Warning ! Besides all those scams coming out of Nigeria (the famous 419 letter), this latest scam
incites you to go to Ghana, where they will kidnap you !!!!
Sample ;
Alluvial Gold Dust For Sale!!
Dear Sir/madam,
We the principal sellers are pleased to make this offer of AU Metal Gold/ Dust
under the penalty of perjury and with full corporate and legal responsibility to
the following terms and conditions.
1. Product : AU Metal (Gold)
2. Origin : Ghana West Africa
3. Type : Alluvial
4. Purity : 92.7%
5.Quantity: 640 kilos
PROCEDURES:
Buyer or representative of the buyer is suppose to come down to (Accra-Ghana)
for the inspection and random sampling of our Gold Dust. or make planes for the
goods to be shipment to he/she destination.
We look forward to establishing a long lasting business relationship with
you.
Mr John Kwame
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