“Europe and the members of the euro zone, are committed to a common currency and will defend it at any cost,” Greece’s Finance Minister George Papaconstantinou told reporters yesterday in Washington, following his meeting with the International Monetary Fund and World Bank. According to the Greek Prime Minister, Europe’s response to the Greek fiscal crisis shows that the bloc will do whatever is necessary to protect its unilateral currency.
Greece is currently negotiating the terms of a bailout worth as much as €45 billion this year as Forex investors continue to …
Forex trading analysis: what goes on with the markets?
The economic situation in the US might be giving off signals indicating a recovery from the financial crisis, but the US Dollar is not destined to fair very well.
While there are countless analysts who are forecasting a rise in the Dollar in the months to come, there is a an evolving group of traders who are expressing genuine concern over the Dollar’s long term prospects.
The bottom line of this concern is based on the reality that the large amount of money the …
At the last BoE meeting, sterling got some measure of relief as the bank decided not to move forward with rumored measures to cut the deposit rate for banks who held their reserves at the central bank.
Today, however, the Bank confirmed that it is considering making such a move and GBP took an enormous hit versus the broader market, swooning all the way back below 1.6500 vs. the USD and sending EUR/GBP to a new since June.
The purpose of such a move is to jump start lending by the …
Online currency trading is becoming more and more popular. You can do all of your Forex trades on the internet, and one of the biggest trading platforms is called Easy Forex. Today, I am going to write an Easy Forex review.
I will start my review by talking about some of the product features. You will get access at all hours of the day to the major foreign currency trading markets. Easy Forex gives you, the trader, advanced Forex analysis, as well as trending and information at your fingertips.
As I continue …
S&P 500 Pivot Points
On Tuesday March 23rd, Tradermongers mentioned that the 1167 was a major area of support level due to the convergence of Tuesday’s previous low and the 144 Fibonacci level on the 5 minute chart. On Wednesday March 24th primary pivot level is 1167 so the S&P 500 ended the day around and found support at 1167.
March 25th primary pivot level is at 1168. This level is also the convergence of the 8, 21, 55, 144 Fibonacci levels on the 5 minute chart. The S&P 500 should not …
S&P 500 Pivots
Today ends the first quarter of 2010 with a short trading week due to Good Friday.
Yesterday we mentioned that the S&P 500 is reaching new highs not seen since September 2008 however it is encountering resistance. The S&P 500 reached an intraday high of 1178 and intraday low of 1169. We have discussed that the 1168 is a major support level due to the convergence of various Fibonacci levels on March 25th. Today’s primary pivot is 1173.34 so expect the market to go higher if it trades above …
Here we will look at how to build a simple Forex trading system which can make you big profits, in under 30 minutes a day so anyone can seek success with it.
Look at any Forex chart and what do you see? You see long term trends which can last for many weeks, months or even years in there duration. You will also notice that any currency in an up trend will start its trend by breaking new highs and it will also continue its trend from them.
The logical conclusion is …
S&P 500 Pivot Points
The S&P 500 ended Thursday trading at the 1165 level, which is just below Tuesday’s support level. For much of the session the S&P 500 traded above Wednesday’s previous high before falling below mid-afternoon. Friday’s primary pivot point is 1170.50 so expect the market to trend lower if the S&P 500 trades below this area.
If the market breaks below Tuesday’s previous low of 1163 then expect the overall market to trend lower. The S&P 500 has a nice run on the daily chart since February and it maybe …
