Difference Between Forex and Stock

1. The Forex market has a lot of advantages compare to stock market: A Forex trader could make profit through the market no matter if it is bearish and bullish which is different from the capital market, Forex has no strict regulation in speculation, no matter whether it is a long-term or a short-term transaction there is still a hidden profit, moreover, Forex market is a double-transaction market which means Forex traders could make profit through both upward and downward trend.

2. Forex traders could obtain a much larger transaction compared to the stock market, through the Forex trading, Forex traders could obtain 100 times larger transaction compared to the stock market. According to the present US situation, if a Forex trader invests $1,000 in the stock market, the trader may obtain $2,000 of stock domination property with a proportion of 2:1, but through Forex trading, a Forex trader can do transaction with a proportion up to 100:1.
Forex trader may make profit from the ordinary news, like the interest rate change, Forex market is closely related to various countries' politic, economy and culture, Forex traders could also obtain profit from other kinds of news, for example interest rate level change, will influence the interest of the Forex deposit.

3. Forex traders could do 24 hours trading. The stock market can only be traded during daytime at a specific time, generally from 9:30a.m. to 4:00p.m.. If you too have your own full time job, then you will face the dilemma - either to give up your full time job or forgo the trading opportunity. But Forex market can be traded 5 days a week and 24 hours a day, Forex traders can trade during their free time which is normally at night after working hour.

4. If a trader analyze based on technical analysis, Forex trading would be much more suitable for such traders because the Forex market has a very large trading volume. Currently the Forex market has daily trading volume of 190 billion Dollar, such giant market will completely digest a fore trader's transaction cash, under such situation the accuracy of the technical analysis would be much higher then any financial market, the chances of using technical analysis to make profit would be much more higher.

5. In the stock market there are hundred and thousand kinds of stocks, then choosing stock will be a very difficult matter. But in the Forex market, the currency combination is extremely limited, this may enable Forex traders to concentrate on these currencies combination, and could follow the trend quickly.

Forex Home Business

The more you understand about any subject, the more interesting it becomes. As you read this article you’ll find that the subject of forex home business is certainly no exception.

When running a forex home business, a person quickly gains knowledge of how the business world works. Whether it be selling crafts, doing a home delivery business, or selling real-estate, after investing a lot of time and effort into a home or small business, a person quickly becomes aware of the few basic business truths that govern business.

One of those truths is that you have to have time and money to start a small business or any business for that matter. More often than not, the people that have the time dont have the money to invest in a home-based business and the people that have the money dont have the time. With Forex home business, it is quite possible to generate an income with a small time investment per day, after studying FOREX for a few months, and a very small investment as little as $50 in some cases.

The second truth, and these are probably quite obvious to most people, is that in order to make money a business has to have some sort of product to sell or perform some type of service. In the FOREX world, nothing is being sold and no service is being performed, but rather money is being exchanged. You are making a profit based on the actual exchange value of one currency against another currency. This eliminates the need for employees, such as customer service personnel and human resource people if your company were to become that big.

Is everything making sense so far? If not, I’m sure that with just a little more reading, all the facts will fall into place.

Also, because of the huge size of the FOREX market, trading nearly $1.5 trillion dollars a day, such things as social events, bad publicity, and changes in political climate will have no effect on your business. In fact, after studying FOREX, you will be able to see how these things will actually benefit your FOREX home business.

The third and last classical business truth is that most people are prevented from starting a home-based business because they dont feel good enough about themselves. They dont feel like theyre educated enough. I read stories all of the time about people that feel passionate about something or they just pick something that they are relatively good at or have done before and start a business. They just take a chance. If you want to do it, step out. Take that first step. Dont drop any huge sums of money, of course, but do a little research, make a small investment and start your adventure down to the road to FOREX trading.

You dont need a doctorite degree to get involved with FOREX trading, but after a couple of months of good study, its quite possible to generate a significant source of cash from FOREX trading. Forex traders study the political and economic trends in the economically important countries, including USA, Japan, England or the European Union, and make an assessment of the present or future purchase values of these currencies in comparison with each other. Again, the process of sale and purchase is like any other market activity, except that the time period varies. Blindly trade. Forex home business is not about gambling. Consider a situation where you think that the price of a given commodity, say, silver, gold, or wheat, will increase in the near future.

You can’t predict when knowing something extra about forex home business will come in handy. If you learned anything new about forex home business in this article, you should file the article where you can find it again.

Forex Trade TIPS & TRICKS

Always keep your trading systems simple. Too much information at one time on your trading screen could confuse and delay your decision to trade.

Broker - A lot of Forex brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.

Sample the Environment - It is important to remember that many registered and online trading agents have fictitious platforms which mirror the real-time, live platform clients register and trade on. It is not only advisable, but it is also actively encouraged to initially open a 'dummy' account where fictitious Forex trades can be undertaken that closely reflect what real trades may be like when they are eventually undertaken. Such platforms are designed to give those that are new to Forex a feel and an idea what real trades on live markets will be like when the decision is made to begin trading.

Buy low, Sell high - Forex trading does not involve the physical purchase of the currencies, but rather involves contracts for amount and exchange rate of currency pairs. The potential for profit comes from the fluctuations in the currency exchange market. Regular daily fluctuations in the value of one currency against another give a clear advantage over conventional stock market equities and instruments.

Manage Losing Positions - Trades will sometimes inevitably on occasion go against you. It is important to accept them as an inherent part of trading. Cut your losses and move on having learned from any mistakes made. Always remember however that you will not be able to trade without losing some positions. It is important to manage these well.

Patience - Do not over-trade your account. Good money management practice is important and will help with profitability. This will go a long way in helping you develop a strategy which fits with your personal trading capital. Operate a trailing stop loss policy say 15 to 20 pips behind the trade. Minimize your good trades as long as you are confident.

Flexible Mindset - Don't set yourself false targets and expectations. Experts will tell you trading is not an exact science and setting oneself unattainable targets will only lead to frustration and feeling of failure when these targets are not met. Always maintain an open mind. The market is a constantly changing environment tunes your mindset to understand this.

And lastly but definitely not least, it is most important for all market participants to remember that unique experiences and past performances do not guarantee future results. Trading results can vary in any combination of circumstances. If you do not have extra capital that you can afford to lose, you should not trade in the foreign exchange market.

Invest wisely and take advantage of the resources and technology available to you in the market.

Exchange Rates

Because currencies are traded in pairs and exchanged one against the other when traded, the rate at which they are exchanged is called the exchange rate. The majority of the currencies are traded against the US dollar (USD). The four next-most traded currencies are the Euro (EUR), the Japanese yen (JPY), the British pound sterling (GBP) and the Swiss franc (CHF). These five currencies make up the majority of the market and are called the major currencies or "the Majors". Some sources also include the Australian dollar (AUD) within the group of major currencies.

The first currency in the exchange pair is referred to as the base currency and the second currency as the counter term or quote currency. The counter term or quote currency is thus the numerator in the ratio, and the base currency is the denominator. The value of the base currency (denominator) is always 1. Therefore, the exchange rate tells a buyer how much of the counter term or quote currency must be paid to obtain one unit of the base currency. The exchange rate also tells a seller how much is received in the counter term or quote currency when selling one unit of the base currency. For example, an exchange rate for EUR/USD of 1.2083 specifies to the buyer of euros that 1.2083 USD must be paid to obtain 1 euro.
At any given point, time and place, if an investor buys any currency and immediately sells it - and no change in the exchange rate has occurred - the investor will lose money. The reason for this is that the bid price, which represents how much will be received in the counter or quote currency when selling one unit of the base currency, is always lower than the ask price, which represents how much must be paid in the counter or quote currency when buying one unit of the base currency. For instance, the EUR/USD bid/ask currency rates at your bank may be 1.2015/1.3015, representing a spread of 1000 pips (also called points, one pip = 0.0001), which is very high in comparison to the bid/ask currency rates that online Forex investors commonly encounter, such as 1.2015/1.2020, with a spread of 5 pips. In general, smaller spreads are better for Forex investors since even they require a smaller movement in exchange rates in order to profit from a trade.

Margin

Banks and/or online trading providers need collateral to ensure that the investor can pay in case of a loss. The collateral is called the margin and is also known as minimum security in Forex markets. In practice, it is a deposit to the trader's account that is intended to cover any currency trading losses in the future.

Margin enables private investors to trade in markets that have high minimum units of trading by allowing traders to hold a much larger position than their account value. Margin trading also enhances the rate of profit, but can also enhance the rate of loss if the investor makes the wrong decision.

Leveraged financing

Leveraged financing, i.e., the use of credit, such as a trade purchased on a margin, is very common in Forex. The loan/leveraged in the margined account is collateralized by your initial deposit. This may result in being able to control USD 100,000 for as little as USD 1,000.

There are three ways private investors can trade in Forex directly or indirectly:

* The spot market * Forwards and futures * Options

A spot transaction

A spot transaction is a straightforward exchange of one currency for another. The spot rate is the current market price, also called the benchmark price. Spot transactions do not require immediate settlement, or payment "on the spot." The settlement date, or "value date," is the second business day after the "deal date" (or "trade date") on which the transaction is agreed to by the two traders. The two-day period provides time to confirm the agreement and arrange the clearing and necessary debiting and crediting of bank accounts in various international locations.

Forwards and Futures

Forwards make up about 46% of currency trading. A forward transaction is an agreement between two parties whereby one party buys a currency at a particular price by a certain date that is greater than two business days (a spot transaction).

A future contract is a forward contract with fixed currency amounts and maturity dates. They are traded on future exchanges and not through the interbank foreign exchange market.

Options

A currency option is similar to a futures contract in that it involves a fixed currency transaction at some future date in time. However the buyer of the option is only purchasing the right but not the obligation to purchase a fixed amount of currency at a fixed price by a certain date in future. The price is known as the premium and is lost if the buyer does not exercise the option.

Risks

Although Forex trading can lead to very profitable results, there are risks involved: exchange rate risks, interest rate risks, credit risks, and country risks. Approximately 80% of all currency transactions last a period of seven days or less, while more than 40% last fewer than two days. Given the extremely short lifespan of the typical trade, technical indicators heavily influence entry, exit and order placement decisions.

Forex Forecasting

This article provides insight into the two major methods of analysis used to forecast the behavior of the Forex market. Technical analysis and fundamental analysis differ greatly, but both can be useful forecast tools for the Forex trader. They have the same goal - to predict a price or movement. The technician studies the effect while the fundamentalist studies the cause of market movement. Many successful traders combine a mixture of both approaches for superior results.
Technical analysisTechnical analysis is a method of predicting price movements and future market trends by studying charts of past market action. Technical analysis is concerned with what has actually happened in the market, rather than what should happen and takes into account the price of instruments and the volume of trading, and creates charts from that data to use as the primary tool. One major advantage of technical analysis is that experienced analysts can follow many markets and market instruments simultaneously.
Technical analysis is built on three essential principles:
1. Market action discounts everything! This means that the actual price is a reflection of everything that is known to the market that could affect it, for example, supply and demand, political factors and market sentiment. However, the pure technical analyst is only concerned with price movements, not with the reasons for any changes.
2. Prices move in trends Technical analysis is used to identify patterns of market behavior that have long been recognized as significant. For many given patterns there is a high probability that they will produce the expected results. Also, there are recognized patterns that repeat themselves on a consistent basis.
3. History repeats itself Forex chart patterns have been recognized and categorized for over 100 years and the manner in which many patterns are repeated leads to the conclusion that human psychology changes little over time.
Forex charts are based on market action involving price. There are five categories in Forex technical analysis theory:
* Indicators (oscillators, e.g.: Relative Strength Index (RSI) * Number theory (Fibonacci numbers, Gann numbers) * Waves (Elliott wave theory) * Gaps (high-low, open-closing) * Trends (following moving average).
Some major technical analysis tools are described below:

History of Forex Market

An overview into the historical evolution of the foreign exchange market

This article will follow the historical roots of the international currency trading from the days of the gold exchange, through the Bretton Woods Agreement, to its current setting.

The Gold exchange period and the Bretton Woods Agreement.

Prior to Bretton Woods, the gold exchange standard -- paramount between 1876 and World War I -- ruled over the international economic system. Under the gold exchange, currencies experienced a new era of stability because they were supported by the price of gold.

However, the gold exchange standard had a weakness of boom-bust patterns. As a country's economy strengthened, its imports would increase until the country ran down its gold reserves, which were required to support its currency. As a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities would hit bottom, appearing attractive to other nations, who would rush in and amid a buying frenzy inject the economy with gold until it increased its money supply, driving down interest rates and restoring wealth into the economy. Such boom-bust patterns abounded throughout the gold standard until World War I temporarily discontinued trade flows and the free movement of gold.

The Bretton Woods Agreement, established in 1944, fixed national currencies against the dollar, and set the dollar at a rate of USD 35 per ounce of gold. The agreement was aimed at establishing international monetary steadiness by preventing money from taking flight across countries, and to curb speculation in the international currency market. Participating countries agreed to try to maintain the value of their currency within a narrow margin against the dollar and an equivalent rate of gold as needed. As a result, the dollar gained a premium position as a reference currency, reflecting the shift in global economic dominance from Europe to the USA. Countries were prohibited from devaluing their currency to benefit their foreign trade and were only allowed to devalue their currency by less than 10%. The great volume of international Forex trade led to massive movements of capital, which were generated by post-war construction during the 1950s, and this movement destabilized the foreign exchange rates established in Bretton Woods.

The year 1971 heralded the abandonment of the Bretton Woods in that the US dollar would no longer be exchangeable into gold. By 1973, the forces of supply and demand controlled major industrialized nations' currencies, which now floated more freely across nations. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, and new financial instruments, market deregulation and trade liberalization emerged.

The onset of computers and technology in the 1980s accelerated the pace of extending the market continuum for cross-border capital movements through Asian, European and American time zones. Transactions in foreign exchange increased intensively from nearly billion a day in the 1980s, to more than $1.9 trillion a day two decades later.

How to Trade Forex Part Time?

All traders live by the dream of trading Forex Full-Time for living, however most if not all start trading Part-Time first. Here are my tips on how you can achieve your dream:

When I first started trading I faced a lot of challenges, such as what indicators to use, which broker, what strategy etc. Eventually I found answers to all those questions nevertheless the biggest challenge was how to manage trading around my Full-Time day job. In this article I would like to share my experience as how it all worked out for me.

Trade more, or Trade Less:As any new trader I was faced with dilemma of how often to trade or look for trades everyday . From my experience so far I believe that trading more often is better when you first start. It helps in learning the use of trading platform, understanding market rhythm and getting used to other aspects of live trading. To gain such experience I started off with 1 hr and 5 minute systems, trading several times every day after work. Though sometimes hard to concentrate after an exhausting day at work, my strong motivation overcame any such impediments.

I carried on with this kind of trading for good 3-4 months. However I soon realized that this form of trading won’t help in long run. Constantly watching 5 minute chart is not only tiresome but boring at times. I knew that I need to do better and look for a system that is based on daily or weekly timeframes.Best of Both Worlds:My recommendation to any new trader is to develop two strategies of different timeframes. One for longer timeframe such as Daily and other for shorter timeframe such as 30 minutes or 5 minutes. Now here is the most important point, only trade the best setup from both strategies. Every strategy has both high and low probable trades. If you only practice to take high probable trades then you have more chances of succeeding. New traders struggles here, they want to trade more often and when the trade fails they look for more ways or indicators to overcome those losing trades. This creates a ever going process of changing and modifying the system which would work just fine on its own.

Also when trading shorter timeframe strategy find out the time of the day when it works best. Trade only during those hours. This way you can minimize time you need to sit in front of pc and maximize mental concentration.

I hope these tips were helpful. I would love to hear from people who are trading Part-time on how they manage trading around their day job.

Forex - Historical Inauguration Fails to Ease the Markets Negative Tone

Market optimism which was anticipated from the transition of power at yesterdays historical Inauguration failed to translate into market gains. Equity markets plunged in the US, led by losses in the financial sector, sending risk appetite lower again, as the S&P closed down over 5% (the biggest drop on inauguration day in history). President Obama didn’t provide any real details of importance in his speech. He stated that the US was at war with a ‘badly weakened economy’. He noted that the economic crisis was the consequence of ‘greed and irresponsibility on the part of some’, and promised to keep a ‘watchful eye’ to ensure that markets do not spin out of control. He also added that people in charge of managing Americas money ‘will be held to account’. 

Yesterday the Bank of Canada cut its policy rate by 50bp to 1.00% as expected. The BoC's accompanying statement was moderately hawkish with the key policy portion being " the Bank will continue to monitor carefully economic and financial developments in judging to what extent further monetary stimulus will be required to achieve the 2 per cent target (inflation target) over the medium term...," which the market viewed as a signal that the BoC would not commit to further easing and this gave the CAD a momentary support before risk aversion trade began weighing on the rally. 

Read more at: http://www.ac-markets.com/forex-news/daily-forex-news.aspx

China PBOC Mulls Raising Gold Reserve By 4,000 Tons

BEIJING --China's central bank is considering raising its gold reserve by 4,000 metric tons from 600 tons to diversify risks brought by the country's huge foreign exchange reserves, the Guangzhou Daily reported, citing unnamed industry people in Hong Kong.

The Guangzhou-based newspaper didn't elaborate on the plan.

China's forex reserves, at US$1.9056 trillion at the end of September, is the world's largest. U.S. dollar-denominated assets, including U.S. treasury bonds and mortgage agency bonds, account for a big proportion of the forex reserves.

Characteristics of Forex Market

st, It consists market but no trading field
The finance industry in the western countries consist two sets of systems, namely the centralism business central operation and there is no fixed place for such business network. Stock trading is being traded through stock exchange. Like the New York Stock Exchange, the London stock market, the Tokyo stock market, respectively is American, English, the Japanese stock main transaction place, it is a centralism business financial commodity, its quoted price, the transaction time and hand over to the procedure all consist of unification the stipulation, and has established the same business association, it has formulated the same business rules. The investor could buy and sells the commodity through the broker company, this is known as "consist of trading market and trading field".

But foreign exchange business is done without any unification operation market and business network, it has no centralism unified place like the stock transaction. But, the foreign currency trading network actually is globally, and it has formed a organization which has no formal organization, the market is relied through an approval way and the advanced information system, Forex traders do not consist any membership qualification for any organization, but must obtain colleague’s trust and approval. This kind of Forex market which has no trading field is known as "consist of market but no trading field". Each day, the trading volume in the global Forex market involves billions of U.S dollars, the so huge large amount fund, is being control under both the non-centralism place and non central governance system, plus it is settle based on non-government governance.

2nd, Circulation work
Due to the different geographical position of the various financial centre, the Asian market, the European market, the Americas market because of the time difference relations, it has become an entire day 24 hour continued operation whole world foreign exchange market.

Early morning 0830 (New York time) New York market opens, 0930 Chicago market opens, 1830 Sydney opens, 1930 Tokyo opens, 2030 Hong Kong, Singapore open, before dawn 1430 Frankfurt opens, 1530 o'clock London market opens. So 24 hours uninterrupted movements, the foreign exchange market becomes a day and night market, only on Saturday, Sunday as well as the various countries' significant holiday, the foreign exchange market only then can close.

This kind of continued operation, provided no time and spatial barrier ideal outlet for investors, the Forex trader may seek the best opportunity to carry on the transaction. For instance, Forex trader buys up the Japanese Yen in the morning at the New York market, in the evening Hong Kong market opens the Japanese Yen rises, the Forex trader sells in the Hong Kong market, no matter Forex trader in where, he all may participate in any market, any time business. Therefore, the foreign exchange market may say is does not have the time and the spatial barrier market.

3rd, Zero and Game
In the stock market, the rise or the drop of stock market could influence the value of the stock whether to rise or drop, for example the Japanese new date iron stock price falls from 800 Japanese Yen to 400 Japanese Yen, the value of this stock has been reduced to half. However, in the foreign exchange market, the value of a stock and a currency is being calculated differently, this is because the exchange rate is refers to the exchange ratio both countries currency, the exchange rate change will influence one kind of monetary value to reduce and at the same time another kind of monetary value increase. For instance in 22 years ago, 1 US dollar exchanges 360 Japanese Yen, at present, 1 US dollar exchanges 110 Japanese Yen, this explains the Japanese Yen currency value rise, but US dollar currency value drops, in the end the value will not reduce or increase. Therefore, some people described the foreign currency trading is "zero and the game", exactly said is the wealth shift.

In recent years, investment foreign exchange market fund has continuously increased, the exchange rate fluctuation expands day by day, urges the wealth shift to be larger, the daily trading volume of the global foreign exchange involves 150 billion US dollars, the rise or falls 1%, means that the 150 billion funds has been shifted. Although the foreign exchange rate change is very big, but, any kind of currency will not become waste paper, even if some kind of currency unceasingly falls, however, but generally it represents certain value, only if such currency has been abolished.

A Detailed Overview of Forex Market

Introduction The following facts and figures relate to the foreign exchange market. Most of the information comes from the Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity conducted by the Bank for International Settlements (BIS) in April 2004, and published in March 2005. 52 central banks and monetary authorities participated in the survey, collecting information from approximately 1200 market participants. Structure Decentralised, over-the-counter market, also known as the 'interbank' market Main participants: Central Banks, commercial and investment banks, hedge funds, pension funds, corporations & private speculators The free-floating currency system began in 1973, and was officially mandated in 1978 Online trading began in the mid to late 1990's Trading Hours 24 hour market Sunday 5pm EST through Friday 4pm EST. Rollover at 5pm EST Trading begins in New Zealand, followed by Australia, Asia, the Middle East, Europe, and America Size Largest market in the world $1.9 trillion average daily turnover, equivalent to: More than 10 times the average daily turnover of global equity markets 1 40 times the average daily turnover of the NYSE 2 $300 a day for every man, woman, and child on earth An annual turnover more than 10 times world GDP 3 The spot market accounts for about one-third of daily turnover 1. About $167 billion - World Federation of Exchanges aggregate 2004 2. About $46 billion - NYSE 2004 3. About $36 trillion - World Bank 2003 Major Markets The US & UK account for more than 50% of turnover Major markets: London, New York, Tokyo Trading activity is heaviest when major markets overlap Nearly two-thirds of NY activity occurs in the morning hours while European markets are open 4 Concentration in the Banking Industry 16 banks account for 75% of turnover in the U.K. 11 banks account for 75% of turnover in the U.S. 11 banks account for 75% of turnover in Japan Note: The reference here is to individual banking offices rather than banking organisations. Source: BIS Triennial Survey 2004 Trading An estimated 95% of transactions are speculative More than 40% of trades last less than two days About 80% of trades last less than one week Brokers research: 90% of traders lose money, 5% break even, 5% make money Technical Analysis Commonly used technical indicators: Moving averages RSI Fibonacci retracements Stochastics MACD Momentum Bollinger bands Pivot point Elliott Wave Currencies The US dollar is involved in approximately 90% of all foreign exchange transactions, equivalent to over $1.5 trillion a day Currency Codes USD = US Dollar EUR = Euro JPY = Japanese Yen GBP = British Pound CHF = Swiss Franc CAD = Canadian Dollar AUD = Australian Dollar NZD = New Zealand Dollar Average Daily Turnover by Currency N.B. Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%. Source: BIS Triennial Survey 2004 Currency Pairs Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF Dollar bloc: USD/CAD, AUD/USD, NZD/USD Major crosses: EUR/JPY, EUR/GBP, EUR/CHF

Forex News

With US markets closed for the Martin Luther King holiday, focus moved to European stocks and all the action was in the banking sector which continues to hemorrhage. With RBS announcement yesterday, the market awaits details of the UK government’s proposal to insure banks’ toxic assets, but with increasing fears of nationalisation, risk sentiment has not been spared. The sharp drop in European bank shares yesterday signaled that the banking crisis is far from over and has the potential to disrupt the euro zone, whose economies get significantly less support from their governments when compared to the US and UK.

S&P downgraded Spain to AA+ raising fears of further downgrades in European sovereign ratings and the European Commission published updated forecasts for 2009 which included forecasts for a 1.9% contraction in the economy in 2009 and a feeble 0.4% growth in 2010 recognizing that the recovery in unlikely to be V shaped. JC Trichet spoke during European time saying that the outlook for the EZ economy is "substantially worse" than the ECB predicted a month ago. Oil finished down following the cease fire in Gaza and the signing of 10 year gas supply deal between Russia and Ukraine.

Full Article at: http://www.ac-markets.com/forex-news/daily-forex-news.aspx

Forex News

EurUsd below 1.3025, is finding support on former trend lines. A rebound above 1.3025 would argue for a return towards 1.3120. Further downside pressure is expected later on (below 1.2970, in direction of 1.2855).

GbpUsd is challenging a break of 1.4275, finding support (1.4135 this morning). A closing price below 1.4275 would argue for further downside pressure. The currency pair is seen choppy, between 1.4135 and 1.4360.

UsdJpy within a narrow range is finding support on 90.10. Below that level, a return towards 89.65 might be seen (the bullish break point is at 90.75).

UsdChf is seen doing a pullback towards 1.1285 (former bullish break level), encountering strong resistance between 1.1390 and 1.1440 (ascending resistance line).

Full Article at: http://www.ac-markets.com/forex-news/daily-forex-news.aspx