Daily Forex Analysis – October 29, 2010

URUSD Analysis. Being contained by 1.3698 support, EURUSD rebounded from 1.3734, suggesting that sideways movement in a range between 1.3698 and 1.4152 is underway. Lengthier consolidation in the trading range is expected in a couple of days, and further rise to 1.4000 area to reach next cycle top would more likely be seen later today.

GBPUSD Analysis. GBPUSD’s bounce from 1.5649 extended to as high as 1.5977 level. As long as 1.6105 previous high resistance holds, the rise from 1.5649 is treated as  correction of downtrend from 1.6105, and another fall to 1.5400 is still possible. However, a break above 1.6105 will indicate that the uptrend from 1.5296 has resumed, then anther rise towards 1.7000 could be seen.

USDJPY Analysis. After touching 81.91 resistance, USDJPY dropped from 81.98, suggesting another fall to test 80.41 is underway, a break below this level will indicate that the downtrend from 85.92 has resumed, then another fall towards 79.75 (1995 low) could be seen. On the upside, as long as 80.41 support holds, one more rise 83.00-84.00 area is still possible.

AUDUSD Analysis. After touching 0.9661 support, AUDUSD rebounded from 0.9651 level. However, another fall towards 0.9400 is still in favor and a breakdown below 0.9651 could signal resumption of downtrend. Key resistance is at 0.9998, only break above this level could trigger another rise to 1.0200 zone.

USDCHF Analysis. Being contained by the upper border of the price channel on 4-hour chart, USDCHF pulled back from 0.9928, suggesting that a cycle top is being formed. Deeper decline is still possible later today and target would be at the lower border of the channel.

USDCAD Analysis. USDCAD traded in a range between 1.0153 and 1.0372. Deeper decline to 1.0100 area to reach next cycle bottom is expected in a couple of days. Key resistance is at 1.0372, only a break above this level could trigger another rise towards 1.0600 zone.

Daily Forex Analysis – October 28, 2010

GBPUSD Analysis.GBPUSD may be forming a cycle top at 1.5895 level on 4-hour chart. Another fall to re-test 1.5649 key support is expected later today, a break below this level will confirm the cycle top, then deeper decline could be seen to 1.5500-1.5550 area. Only break above 1.5649 level could suggest that lengthier correction of downtrend from 1.6105 is underway.

USDJPY Analysis.USDJPY broke above 81.91 key resistance, suggesting that a cycle bottom had been formed at 80.41 level on 4-hour chart and the downward movement from 85.92 had completed. Further rally would more likely be seen in a couple of days and next target would be at 82.50 area.

EURUSD Analysis.EURUSD is facing 1.3698 support, a break below this level will confirm that the uptrend from 1.2587 (Aug 24 low) has completed at 1.4152 already, then the following downward move could bring price to 1.3400 area. However, the pair may be forming a sideways consolidation in a range between 1.3698 and 1.4152, bounce to 1.3950 area is possible before breaking below 1.3698 key support.

AUDUSD Analysis.

Being contained by 0.9998 previous high resistance, AUDUSD dropped from 0.9973 and reached as low as 0.9651 level, and the key support of 0.9661 had been broken below. Deeper decline is expected later today and next target would be at 0.9450-0.9500 area.

USDCHF Analysis.USDCHF has reached the upper border of the price channel on 4-hour chart, pullback would more likely be seen later today and target would be at the lower border of the channel. Support is at 0.9830, below this level could indicate that a cycle top is being formed and downward move is expected to follow.

USDCAD Analysis.USDCAD’s bounce from 1.0153 extended to as high as 1.0339 level. However, another fall to 1.0100 area to reach next cycle bottom is still possible. Key resistance is at 1.0372, only a break above this level could trigger another rise towards 1.0600 zone.

Daily Forex Analysis – October 27, 2010

USDJPY Analysis. 

USDJPY broke above the falling price channel on 4-hour chart and reaches as high as 81.70. Key resistance is at 81.91, as long as this level holds, the price action in the trading range between 80.41 and 81.91 is treated as consolidation of downtrend from 85.92, and one more fall to 80.00 is still possible. However, a break above 81.91 key resistance will indicate that the downtrend from 95.92 has completed at 80.41 already, then the following upward move could bring price to 83.00-84.00 area.

EURUSD Analysis. EURUSD breaks below 1.3860 support, suggesting lengthier consolidation in the trading range between  1.3698 and 1.4152 is underway. Deeper decline towards 1.3698 is expected later today, rebound would more likely be seen before breaking below this level. However a breakdown below 1.3698 level will indicate that the uptrend from 1.2587 (Aug 24 low) has completed at 1.4152 already, then the following downward move could bring price to 1.3400 area.

AUDUSD Analysis. 

AUDUSD failed to break above 0.9998 previous high resistance and pulled back from 0.9973, suggesting another fall towards 0.9661 key support is underway, a break below this level will indicate that the rise from 0.8771 has completed at 0.9998 already, then the following downward move could bring price back to 0.9300 area.

USDCHF Analysis. 

USDCHF’s bounce from 0.9463 extends to as high as 0.9881 level. Further rally is still possible later today and next target would be at 1.0000 area. Initial support is at the rising trend line on 4-hour chart and the key support is at 0.9662, only break below this level could trigger another fall to 0.9200 zone.

USDCAD Analysis. 

USDCAD might be forming a cycle bottom at 1.0153 level on 4-hour chart. Further rise towards 1.0372 is expected later today, a break above this level could confirm that a cycle bottom has been formed and another rise towards 1.0600 is underway.

GBPUSD Analysis. 

GBPUSD broke above 1.5877 resistance, further rise to 1.5950-1.6000 area to reach next cycle top on 4-hour chart could be seen. As long as 1.6105 resistance holds, we’d expected downtrend to resume and one more fall towards 1.5400 is still possible.

Daily Forex Analysis – October 26, 2010

EURUSD Analysis. EURUSD traded in a range between 1.3698 and 1.4152. Initial support is at 1.3860, as long as this level holds, another rise towards 1.4152 key resistance is expected later today, a break above this level could indicate that the uptrend from 1.2587 (Aug 24 low) has resumed, then further rise 1.4500 is possible. However, below 1.3860 will suggesting lengthier consolidation in the trading range is underway, then deeper decline towards 1.3698 could be seen.

AUDUSD Analysis. Being contained by 0.9998 previous high resistance, AUDUSD pulled back from 0.9973, however another rise towards 0.9998 would more likely be seen later today, a break above this level could indicate that the upward movement from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen. Key support is at 0.9740, only break below this level could trigger another fall to 0.9400 area.

USDCHF Analysis. USDCHF might be forming a cycle top at 0.9804 level on 4-hour chart, key support is at 0.9572, a breakdown below this level will confirm the cycle top, then another fall to 0.9200 could be seen. On the upside, as long as 0.9572 level holds, one more rise to 0.9850-0.9900 area to reach next cycle top is still possible.

USDCAD Analysis. 

USDCAD’s downward move from 1.0372 extended to as low as 1.0153 level. Deeper decline is still possible later today, and next target would be at 1.0100-1.0130 area. However, as long as 0.9979 key support holds, the fall from 1.0372 is  treated as correction of uptrend from 0.9979, another rise towards 1.0600 is still possible after correction.

GBPUSD Analysis. 

GBPUSD stays in a trading range between 1.5649 and 1.5877. Key resistance is at 1.5877, as long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.6105 and another fall towards 1.5400 is still in favor. However, a break above 1.5877 could indicate that the fall from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.

USDJPY Analysis. 

After a sideways consolidation, USDJPY continues its downward move from 85.92, and the fall extended to as low as 80.41 level. Deeper decline is still possible later today and next target would be at 80.00 area.

Daily Forex Analysis – October 25, 2010

EURUSD Analysis. 

EURUSD stays in a trading range between 1.3698 and 1.4152. Another rise to test 1.4152 key resistance is still possible later today, a break above this level will indicate that the uptrend from 1.2587 has resumed, then further rise towards 1.4500 could be seen. Support is at 1.3860, below this level could bring price back towards 1.3698 key support.

AUDUSD Analysis. 

AUDUSD stays in a trading range between 0.9661 and 0.9998. Key resistance of 0.9998 is expected to be tested later today, a break above this level could indicate that the uptrend from 0.8771 has resumed, then another rise towards 1.0100-1.0200 could be seen to follow. Support is at 0.9740, a breakdown below this level could trigger another fall to 0.9400 area.

USDCHF Analysis. 

USDCHF’s bounce from 0.9463 extended to as high as 0.9804 level. Further rally is still possible later today and next target would be at 0.9850-0.9900 area. Support is at 0.9690 followed by 0.9570, only break below 0.9570 could trigger another fall to 0.9200 area.

USDCAD Analysis. 

USDCAD formed a cycle top at 1.0372 level on 4-hour chart. Another fall to 1.0130 area is expected in a couple of days. However, the fall from 1.0372 is treated as correction of uptrend from 0.9979, the uptrend could be expected to resume before breaking below 0.9979 level.

GBPUSD Analysis. 

GBPUSD is in downtrend from 1.6105. Another fall towards 1.5400 would more likely be seen in next several days. Key resistance is now at 1.5877, only break above this level could indicate that the downward move from 1.6105 has completed at 1.5649 already, and the uptrend from 1.5296 has resumed.

USDJPY Analysis. 

No changed in our view, USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.

Daily Forex Analysis – October 19, 2010

USDCHF Analysis. 

USDCHF has reached the upper border of the price channel on 4-hour chart, suggesting that a cycle bottom has been formed at 0.9463 level. Further rally towards 0.9727 is still possible later today, a break above this level will indicate that the fall from 1.0277 has completed at 0.9463 already, then the following upward move could bring price to 1.0000 zone. However, as long as 0.9727 key resistance holds, downtrend is expected to resume, and another fall to 0.9300 is expected.

USDCAD Analysis. 

USDCAD failed to break above 1.0232 key resistance and pulled back from 1.0227, however one more rise to re-test 1.0232 is still possible later today, a break above this level will indicate that the downward movement from 1.0672 (Aug 31 high) has completed at 0.9979 already, then the following uptrend could bring price to 1.0600 area. Support is at 1.1000, below this level will indicate that sideways movement is underway, then range trading between 0.9979 and 1.0232 could be seen.

GBPUSD Analysis. 

GBPUSD is facing the lower border of the price channel on 4-hour chart. Rebound would more likely be seen before breaking below the channel support. Key support is at 1.5755, as long as this level holds, the fall from 1.6105 is treated as consolidation of uptrend from 1.5296, and another rise to 1.6200 is still possible. However, below 1.5755 will indicate that the rise from 1.5296 has completed at 1.6105 already, then deeper decline could be seen to 1.5400 area.

EURUSD Analysis. 

EURUSD remains in uptrend from 1.2587, and the price action from 1.4029 is treated as consolidation of uptrend. As long as 1.3775 key support holds, we’d expect uptrend to resume and another rise to 1.4200-1.4300 area is still possible after consolidation. However, a breakdown below 1.3775 could indicate that the rise from 1.2587 has completed at 1.4152 already, then pullback to 1.3500 area could be seen to follow.

AUDUSD Analysis. 

Being supported by the lower boundary of the price channel on 4-hour chart, AUDUSD rebounded from 0.9800, suggesting that a cycle bottom is being formed. Range trading between 0.9800 and 0.9998 would more likely be seen in a couple of days. Resistance is at 0.9998, above this level will indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 area could be seen.

USDJPY Analysis. 

USDJPY stays in a falling price channel on 4-hour chart and remains in downtrend from 85.92. The bounce from 80.88 is treated as consolidation of downtrend, further rally towards the upper border 

of the channel would more likely be seen.

Daily Forex Analysis – October 21, 2010

AUDUSD Analysis. 

AUDUSD broke below the lower border of the rising price channel on 4-hour chart and reached as low as 0.9661 level, suggesting that the uptrend from 0.8771 has completed at 0.9998 already. Another fall to 0.9500 area is expected in next several days. Resistance is now at 0.9998, only break above this level could trigger another rise to 1.0100-1.0200 area.

USDCHF Analysis. 

USDCHF broke above 0.9727 resistance, suggesting that lengthier consolidation of downtrend from 1.1730 is underway. Another rise to 0.9800-0.9900 area is expected. Support is at 0.9463, only break below this level could trigger another fall to 0.9300 zone.

USDCAD Analysis. 

USDCAD broke above 1.0232 key resistance and reached as high as 1.0372, suggesting that the downward move from 1.0672 (Aug 31 high) has completed at 0.9979 already. Now the pair is in uptrend and the fall from 1.0372 is treated as correction of uptrend. Pullback to 1.0130-1.0175 to complete the correction would more likely be seen.

GBPUSD Analysis. 

GBPUSD broke below 1.5755 key support and reached as low as 1.5649, suggesting that the uptrend from 1.5296 has completed at 1.6105 already. Now the pair is in downtrend and the bounce from 1.5649 is treated as correction of downtrend. Deeper decline to 1.5400 area is expected after correction.

EURUSD Analysis. 

EURUSD broke below 1.3775 key support, suggesting that lengthier consolidation of uptrend is underway. Range trading between 1.3700 and 1.4000 would more likely be seen in a couple of days.

USDJPY Analysis. 

USDJPY’s fall from 85.92 extended to as low as 80.84. Resistance is now at 81.91, as long as this level holds, downtrend is expected to continue and another fall towards 79.75 (1995 low) is expected.

Daily Forex Analysis – October 22, 2010

AUDUSD Analysis. AUDUSD’s uptrend from 0.8771 has completed at 0.9998 already. Range trading between 0.9661 and 0.9890 would more likely be seen later today. Support is at 0.9661, a breakdown below this level could trigger another fall to 0.9500 area. Key resistance is at 0.9998, only break above this level could indicate that the uptrend from 0.8771 has resumed, then further rise to 1.0100-1.0200 could be seen.

USDCHF Analysis. 

USDCHF’s downward move from 1.0277 has completed at 0.9463 already. Further rally is still possible later today and next target would be at 0.9800-0.9900 area. Support is now at 0.9570, only break below this level could trigger another fall to 0.9300 zone.

USDCAD Analysis. 

Being contained by 1.0378 resistance, USDCAD pulled back from 1.0372, suggesting that a cycle top has been formed on 4-hour chart. Now the fall from 1.0372 is treated as correction of uptrend from 0.9979. Range trading between 1.0130 and 1.0372 is expected in next several days.

GBPUSD Analysis. 

GBPUSD broke below the rising price channel on 4-hour chart and the uptrend uptrend from 1.5296 has completed at 1.6105 already. The pair is now in downtrend from 1.6105. Deeper decline to 1.5400 is expected. Resistance is at 1.5880, as long as this level holds, downtrend will continue.

EURUSD Analysis. 

After breaking below 1.3775 key support, the price action from 1.4152 is treated as consolidation of longer term uptrend from 1.1876 (Jun 7 low). Range trading between 1.3698 and 1.4050 is expected in a couple of days. Key resistance is at 1.4152, only break above this level could trigger 

another rise towards 1.4500.

USDJPY Analysis. 

USDJPY stays in a narrow trading range between 80.84 and 81.91. The price action in the range is treated as consolidation of downtrend from 85.92. Another fall towards 79.75 (1995 low) would more likely be seen later today.

OANDA Trading Platform sucks!!

I joined the broker almost a year now, in the early days it was fine and everything run smoothly on the trading platform. But ever since they upgraded it to the new JAVA, problem started to come. In the first place i didn't mind about it cause i thought it was temporary technical issues. 

Now i starting to get sick and tired of the problem because it seems OANDA does not give a damn about it. Nothing has improved and the platform keep on slows down and disconnected till now. So i have decided to withdraw my deposit and looking for other brokers now.

If OANDA ever improve again someday perhaps i am considering to rejoin them, but for now it's just really bad. Two weeks i have not open any trade position because the platform it like freeze off whenever i log into it then disconnected again. It happens every log in sessions. 

OANDA need to clean up the mess on its trading platform. Not only me complaining about this issue, just read what others say about it on OANDA forum itself OANDA usability sucks

Auto Forex System Trading-Relax As Well As Earn

Auto Forex trading has been adopted by many as the easiest and efficient ways of making money in trading business. This helps a lot in currency trading. As more and more people are getting into this business, there have been more ways found out to make it easy for them. Auto forex trading is one of the ways to make forex trading easy for you. In this type of trading, you make use of software. This software works on the basis of making prediction about rise and fall of the currency. In auto forex system trading, the software makes decisions which ensure that you make a lot of profit.

The software that chooses works just like your personal assistant. It does not require you to sit at the desk for all day. It works for you through 24 hours and as soon as profitable opportunity arrives, it grabs it with both hands. Hence there is never a trading opportunity that you miss. Also make sure that the package that you choose is tested in all markets and environments so that it can work best for you. Most of the people which are new in this trade can do auto forex trading and can learn a lot from it.

All you need to do is to search the best software for you by carrying out extensive search. Then just follow the instructions and install it on your PC. You just need to configure it and there you go. It is now ready to do the wonders for you. If you are new in using this, start with investing a small amount of money so that you can learn as the time passes by. When you feel that you are a master, you can then make your goals and aims and start doing auto forex system trading to change your life.

Best Forex System Trading-Go For The Best And Make More Profit

Forex is basically used as abbreviation for foreign exchange stock market. Forex is the trade of selling and buying of currencies. It is said to be the easiest way to do business even if you are sitting at your home. You can make maximum profit with this business. For getting into this, you need to have good understanding of business, investments, effects of exchange rates and trade.

There are two types of forex system trading, offline forex trading and online forex trading. The best forex system trading comes under online forex system trading. Offline forex system trading is very hectic and time consuming as it requires you to go to the companies to do trading, check trade status and then collecting profits.

Best forex system trading means an effective currency trade in which you earn more profit in less time and efforts. To get success in forex trading, an effective system is needed. It is that trading system which gives you updates about all the changes in the market. Find such a trading system which suits your strategy and style, only then you can make good profit.

There are many trading systems used in trade but the most popular forex system trading is the automated system trading. It is a trade in which you buy a forex system trading software and then you deal and fill it according to your demands and requirements. The system will then tells you the perfect time to buy or sell the currency to gain maximum profit.

There is another method in which you check out and note the statistics and strategies of last few months' forex trade and then calculate the graph of profits verifications using a calculator.

No doubt best forex system trading is the online system trading because it is available with many different features. You can invest your money and trade in your way. You do not need to go to the companies to buy or sell currencies. Everything is done on computer and you just need to input your needs and terms.

Establishment Of Foreign Exchange Market

Established in 1971 The forex (short for Foreign Exchange) is the Foreign Exchange Market, the market is devoted to various world currencies, including the price varies depending on the economic health of the country or geographical area to which they are attached. This market connects listings distributed by all major banks worldwide, to determine the price of each currency. That's why we call it a market 'interbank'. It is logically open 24 hours over 24 to accommodate different time zones and 7 days on 7, although intermediaries to intervene in these markets, brokers do not allow trading the weekend, including the volatility is too low.

Still reserved for professionals from the investment or business wishing to hedge against fluctuations in currencies of countries in which they had investments there are 10 to 15 years, Forex, which is the largest financial market in the world, s 'has been gradually opened to private and institutional speculators to experience strong growth in this type of investors in recent years. If interested in more and more people because it seems at first sight easier access, less difficult to analyze and more exciting than the stock market that we hear most about in the media.

Specifically, the Foreign exchange market, you exchange one currency against another. So when you come on the market, you do not take a position on a currency but a currency pair. For example, when it is positioned to buy the euro, we just do not buy the euro, but they sell other currencies against the euro. For example, if you buy the Euro-Dollar, it means you are betting on a rise of the Euro against the Dollar, in conversely if you sell this pair. Suppose the euro rises against the dollar, and he may at the same time decrease against another currency like the Swiss Franc for example. It is noteworthy that some correlation can be observed between the different currencies in this regard, we have just made a table explaining this phenomenon in this lesson. This may seem a bit complex at first sight, but you'll get used to it very quickly.

A big advantage, which ultimately is not really a wallet for beginners, is that the Forex allows traders to easily take advantage of a highly leveraged. What is leverage? Well it's a multiplication factor to your capital. Specifically, if you have a starting capital of 1000 euro, your broker or the equivalent of your online broker for the stock market, then the intermediary between you and the markets, to lend you the money you n 'have not, your potential gains are greater. If you take a lever 10 with your capital of 1000 euros, you can enter the market with 10 000. Seen like this, it might seem tempting, but again, there is no easy money in financial markets, and examples of novice traders who thought making a fortune in a few weeks thanks to Forex, and finally emptied their trading account in a few days or few hours are legion. For if this system allows larger gains, it also allows you greater losses, and risk management is critical to achieve positive results over the long term.

The leverage is a double-edged sword that often declare victory two or three days when a beginner starts in Trading Forex, before he settled his account on the fourth day. However, it can be used, provided good look, analyze, manage your risk, your character, and use it to create a money management that meets your criteria and your goals.

Often a question comes from people discovering that market and leverage up to 500: Do I owe money to my broker? Well it depends on your status and your broker, but in most cases, fortunately, the answer is no, because to protect you against having a negative balance, most of the brokers cut Automatically your positions from a certain level, the level of margin (This margin varies from broker, she can go from 0.25% to several%). This allows you to keep a positive balance in it any circumstance. Moreover, even if you're a broker in failing to apply this policy, which is very rare, according to the MiFID categories in which it evolves, individual investors are often protected against negative balances. To have the heart net, do so much to ask the customer service the broker you chose if it implements a policy to protect against negative balances before opening an account.

Example:

I have a capital of 2,000 euros. I buy the dollar against the Euro, with a lever 10, a position of 20 000 euros (converted into dollars, then that here we buy the dollar).

If the dollar is 1%, I would have realized a gain of € 200. To this we must remove the spread or commission charged by the broker each time you enter the market. Spread this varies Brokers, and as pairs, but we shall return later. For the Euro - U.S. dollar, on average between 2 and 3.5 pips Spread, which represents your position 20 000 € between 4 and 7 Euros commission taken by your broker. (This will be the only money received by your broker, the fees are lower than the stock market, another advantage for this market).

If the dollar loses 1%, you realize a loss of € 200 or 10% of your capital minus 4 / 7 EUR Spread representing a net loss of 205 €.

On the web and in books to see all kinds of statistics, such as "90% of traders lose money" (some say 80%, other 95 %...). Personally, I can not tell you if these figures are accurate, because I do not know. However, what I think is that yes, a majority of traders lose money, but it must go further than this initial finding. Indeed, many people will start a little attired charmed by the promises of advertising brokers and other stakeholders in these markets, and some day lose all their capital insider. The most part of them will then curse the Forex and move on, then returning in the statistics of losers, others will persist in a bad way, and continue to lose money, and of others will learn from their failures and persevere. In my humble opinion, most of the traders who earn money today we started losing. I walk it without proof is just a feeling I have and not take for granted.

Finally, many are starting Forex like a casino that will save them a lot and quickly, without having a thorough understanding before completely disillusioned few days later, once their trading account emptied. We must not let themselves become discouraged, but persevere, because you can indeed actually earned money in the long term with the foreign exchange market and other financial markets. In this chapter, I will try to share with you my experience and mistakes.