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Euro breaks through the several support. 

Euro breaks through the several support.

It is very unfortunate that I have this movement from the beginning have missed. Although I rather assumed that the EUR / USD anything else in its range of recent weeks will remain, I must now that EUR / USD broke through the strong support. From a technical point of view is now the next target at around 1.4990.

It is in all majors a similar picture. Wins U.S. dollars, and not only seems to strength. Well… nothing else remains in this case as left to wait. Wait until there is a good opportunity to start.

No open positions.

No setup for today.


As times in recent weeks noted, as of today, I would like another strategy to run.

TFS4H - Trend Follower System 4 Hour.

The strategy is based on the 4H chart (4 hours chart). This trade approach rarely generated setups, but until now with a 80% - 90% hit rate. The chances / risk ratio is most 2:1, 3:1.

I will once the initial setup TFS4H signalled publish them here. Even the exits, as well as the overall outcome of the ongoing TFS4H. The next few months, the system is its suitability to be checked.


Good Trading!

2008-08-07 

The main currencies - the latest news
USD - unemployment figures and Pending Home Sales are on
The USD was a successful yesterday, accompanied by upward trends trading day against most opponents of its currency. The positive momentum of the USD unfolded thanks to another day of falling oil prices and good prospects of a recovering U.S. economy, one day after the U.S. central bank left its key interest unchanged. Clearly the EUR fell against the dollar to a record low of the last seven weeks at $ 1.5398. This is the lowest intraday level since 16 June. Compared with the JPY the U.S. dollar could also increase its value and achieved a high within the last seven months at 109.39, the highest level since the month of January reflects.
After the U.S. central bank on Tuesday the target for its key allowed at 2% and announced that they did not intend to increase the cost of borrowing to rush things, some analysts pointed out that the real reason for this decision more concern for economic growth as to inflation. As a result, and a new hint of risk-taking, turned favourable investors tuned to the "carry trades".
For now, some important economic data from the U.S.. Investors should the unemployment figures closely monitor a key indicator for the USD. Experts expect a decline of 28,000 applications that are in the last week amounted to 448,000. Around 2:00 GMT, the pending home sales (Pending Home Sales) published the fall by 1%. These results could trigger large price fluctuations. Investors was advised to remain vigilant.

EUR - Where the EUR downward trend after ECB rate decision to continue?
The EUR reached at yesterday's trading day mixed results against its major currency counterparty. The USD against the EUR had a downward trend, while he gains against JPY was able to achieve. Even compared to the GBP lost the EUR of points, due to the upcoming decision by the BoE (Bank of England) in terms of the key due on Thursday. The interest in the 15-nation currency fell after disappointing German report on the orders of industry. It was clear that in June instead of the expected increase of 0.5%, 2.9%. Recent Eurostat figures indicate that the economy of the euro zone in the direction of a global downturn moves. The foreign demand fails currently mostly in Germany, Europe's largest economy system. This development depends largely with the competitiveness of global markets and the ECB could in a compromising position. This apparently crippling growth in the euro zone could be the ECB, despite advancing inflation, force interest rates down.
Today the EUR for a whole series of economic publications. Starting at 6:00 GMT, the German trade balance, followed by the French trade balance at 6:45 GMT. Around 8:00 GMT, the industrial production figures from Italy. Then, at 10:00 GMT the equivalent from Germany, for its index, an increase of 0.8% advance is said to the previous month's decline of 2.4%. In the course of a day is the meeting of the ECB held the key to the decision. This will not change the current 4.25%. Possibly the EUR could for the first time since the week beginning to show signs of strengthening. The forthcoming opinion of the ECB President Claude Trichet is expected to turn out quite zinsbullischen.

JPY - Mixed results for the yen
The Japanese yen lost against most currencies to the ground. The JPY unterlief the downward trend against the USD and the EUR after investors their "carry trades" against the Asian currency held upright.
The Japanese publications on yesterday's trading day little effect on the JPY. The weekly index of leading economic indicators (LEI) fell by 1.7 points to 91.2 in June. This indicator measures the volume of economic activity from different market sectors. Furthermore, the Machinery orders (orders machine tools) by 2.6%, the first time in three months. These figures support the already existing impression that the world's second largest economy an economic slowdown is approaching. For now, the JPY from economic calendar is absent. Investors should pay attention to messages from the U.S. and the euro zone, which mainly affect the current JPY.

Forex-Selected couples - current trends
EUR / USD
On the day chart formed a trading range, which is clearly falling trend in the centre and the couple now varies. All oscillators give decline signals, suggesting that this downward trend will continue. Today could be the right decision read: sell.

GBP / USD
The downward momentum holds in full swing. Yesterday this pair, even through the 1.9480 mark. On the day chart is to recognize that the couple is still below the Bollinger bands varies. This is a sign for a continuation of the trend abwärtsgerichteten. Here, too, could sell the right strategy.

USD / JPY
The intense upward trend has continued after the couple yesterday's 109.50-mark through. All the oscillators day chart are upward and indicate further zinsbullische trends. The next target price could at 110.15.

USD / CHF
These two shows remain a continuous zinsbullische development. At yesterday's trading day it finally broke through the Fibonacci conclusions mark of 1.0600. A newly entstandenes zinsbullisches Cross Slow Stochastic hour on the chart could be a sign of a further upward trend. Here it might be right to buy.

Online Forex Trading - Making Money Has Never Been Easier 

In the past most, if not all Forex trading was limited to banks and huge financial institutions and would have benefited a lot from online trading. Lately however, with the increase in the availability of the Internet, web-based Forex trading has become a reality. This makes it possible for hundreds, perhaps thousands of individuals, brokers, brokerage firms, banks and governments that use online Forex trade to turn a profit.

There are many advantages to online foreign exchange trading, including the fact that trading can be done round the clock from anywhere in the world. This also helped the Forex market in general, helping to increase daily volume. Because of this increase daily transactions have reached almost two trillion dollars.

Besides the advantage of twenty-four hour day availability, there are definitely a lot of other benefits to online foreign exchange trading. One of the biggest benefits is being able to trade in different currencies in different markets all at once. Because of this web-based Forex trading has led to more liquidity and flexibility. In addition to this benefit a trader can access quotes and make trades in real time with online Forex transactions.

An interesting advantage to online trading is that there are no bulls or bears. No matter the value or ratio of value of the currency or the direction it is headed, there is no effect in the world of online Forex trading. This means a trader can buy and sell at the same time in different currencies with no problems.

Transparency is another interesting effect of web-based Forex transactions. It definitely can make it easier to spot trends and what good times might be to buy or sell. This is also because everything is more readily accessible in real time from all over the globe. Everything is much more out in the open in online trading, no exchange fees, no commission, and no hidden costs. Commissions are paid to Forex brokers, but those are never surprises.

In online Forex trading, everything happens right away, hardly any delay. Within a few seconds, trades can be executed, filled and confirmed. Brokers and trading companies can give traders real time information, which can help in making important decisions.

With these advantages to online foreign exchange trading, it seems that for most it would be a good idea. But not all will do well in the world of online Forex trading. This is because it can also be very risky, decisions have to be split second, or problems can arise. So weigh the benefits with the disadvantages and make sure you are the right kind of person for online trading before jumping in.

What is Forex (Foreign Exchange)? 

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.

Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.

MG Financial Group, now operating in over 100 countries, serves all manner of clients, comprising speculators and strategic traders. Whether it’s day-traders looking for short-term gains, or fund managers wanting to hedge their non-US assets, MG's DealStation™ allows them to participate in FOREX trading by providing a combination of live quotes, Real-Time charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis.