Tuesday, 29 November 2011

GBP/USD steady ahead of U.K. budget statement ..

The pound was steady against the U.S. dollar on Tuesday, as investors remained jittery ahead of the U.K. government’s autumn budget statement and a meeting of European Union finance ministers later in the day.

GBP/USD hit 1.5538 during European morning trade, the daily high; the pair subsequently consolidated at 1.5530, easing up 0.11%.

Cable was likely to find support at 1.5423, Friday’s low and a seven-week low and resistance at 1.5594, Monday’s high.

The budget statement was expected to revise down the forecast for U.K. growth significantly, amidst signs that the economic recovery is faltering.

Speaking Monday, Bank of England Governor Mervyn King said the U.K. economic outlook is significantly weaker than it was three months ago and added that growth looked likely to be flat over the next two quarters as a result of the debt crisis in the euro zone.

Earlier in the day, data from U.K. mortgage lender Nationwide showed that house prices rose unexpectedly this month, climbing 0.4%, confounding expectations for a decline of 0.1%.

Meanwhile, investors remained cautiously optimistic that euro zone finance ministers would approve plans to enlarge the scope of the region’s bailout fund and sign off on Greece’s next tranche of financial aid at a meeting later in the day.

The pound was almost unchanged against the euro, with EUR/GBP dipping 0.01% to hit 0.8584.

Also Tuesday, the BoE was to release data on net lending to individuals and mortgage approvals, while the U.S. was to release industry data on house price inflation as well as a report on consumer confidence.

Monday, 28 November 2011

Natural gas futures retreat from 11-day high on profit taking ..

Natural gas futures fell for the first time in six days on Monday, as investors cashed out of the market to lock in gains from a rally that took prices to an 12-day high earlier in the day. 

On the New York Mercantile Exchange, natural gas futures for January delivery traded at USD3.564 per million British thermal units during U.S. morning trade, tumbling 2.74%. 

Natural gas prices rose by as much as 1.85% earlier to hit USD3.719 per million British thermal units, the highest price since November 11.

Prices were boosted earlier as momentum carried over from the previous week’s 7% weekly advance amid speculation a recent bout of mild U.S. weather was beginning to give way to cooler temperatures across most parts of the U.S.

However, the sharp jump in prices prompted some investors to sell their position and lock in gains, amid speculation that U.S. natural gas supplies are ample to meet the needs of even an unusually harsh winter.

U.S. natural gas stockpiles stood at 3.852 trillion cubic feet as of last week, just shy of the all-time high of 3.867 hit in early November. 

U.S. inventories typically increase during the so-called "shoulder season", the period in autumn after air-conditioning demand falls but before heating begins.

But this year's increase, aided by unusually warm temperatures, offers a much larger cushion than in most years as winter approaches.

Global financial service provider Barclays expected prices to remain under pressure in the near-term, citing a U.S. supply glut. 

“With inventory levels at record levels, even a cold winter would not put the U.S. gas market on a bullish path," the lender said in a report.

Meanwhile, the Commodity Weather Group said earlier that the U.S. Northeast was forecast to be warmer-than-normal through this week, while returning to more seasonal weather by this weekend.

In the company’s 1-to-5-day weather outlook, the CWG said that temperatures in the Northeast U.S. states were expected to be a least 8 degrees Fahrenheit (4.4 Celsius) above normal.

Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting forecasts for late October and early November on heating demand.

Elsewhere on the Nymex, light sweet crude oil futures for delivery in January rallied 2.2% to trade at USD98.89 a barrel, while heating oil for January delivery jumped 1.9% to trade at USD2.996 per gallon.

USD/CAD down in U.S. trade ..

- The U.S. Dollar was lower against the Canadian Dollar on Monday after the release of U.S. data on New Home Sales.

USD/CAD was trading at 1.0373, down 0.94% at time of writing.

The pair was likely to find support at 1.0305, today’s low, and resistance at 1.0523, Friday’s high.

Earlier in the day, official data showed that new home sales in the U.S. rose unexpectedly to a seasonally adjusted annual rate of 307K last month from 303K in the preceding month whose figure was revised down from 313K.

Analysts had expected new home sales to fall to 312K last month.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.51% to hit 1.3305 and GBP/USD rising 0.37% to hit 1.5496.

Sunday, 27 November 2011

Weekly outlook: November 28 .. December 2

Natural gas futures rose sharply in thin post-holiday trade on Friday, jumping to a two-week high as cooling weather forecasts and indications of a slowdown in U.S. production boosted prices. 

On the New York Mercantile Exchange, natural gas futures for delivery in January settled at USD3.662 per million British thermal units by close of trade on Friday, rallying 4.4% over the week, the first weekly gain in four.

Earlier in the day, prices rose by as much as 2.5% to hit USD3.675 per million British thermal units, the highest since November 10.

The recent bout of mild U.S. weather, which has kept prices depressed near 13-month lows in recent sessions, was beginning to give way to cooler temperatures across most parts of the U.S.

The Commodity Weather Group said Friday that temperatures in the U.S. Midwest and Southern states were forecast to be colder-than-normal from November 30 to December 4.

The weather group added that current weather models showed “a marginal cold-dominated pattern for the Midwest, East and South” during the first third of December.

Meanwhile, private forecaster WSI Energycast said its six-to-10-day forecast is "a shade colder over the most of the central and eastern U.S." compared with its Wednesday forecast.

Colder-than-normal winter temperatures increase the need for gas-fired electricity to heat homes, boosting demand for natural gas.

Gas prices continued to draw support from Wednesday’s U.S. storage data, which showed a smaller-than-expected increase in natural gas stockpiles.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 9 billion cubic feet in the week ended November 18, after increasing by a downwardly revised 12 billion cubic feet in the preceding week. Analysts had expected U.S. natural gas storage to rise by 17 billion cubic feet.

Total U.S. natural gas storage stood at 3.852 trillion cubic feet as of last week, just shy of the all-time high of 3.867 hit in early November. 

The report was issued a day early due to the US Thanksgiving holiday on Thursday.

Also Wednesday, industry research group Baker Hughes said that the number of active rigs drilling for natural gas in the U.S. last week fell to the lowest level since January 2010, declining by six to stand at 865 rigs.

Natural gas traders closely watch the rig count to gauge future supply growth. The rig count has dropped sharply from a nine-and-a-half month high of 936 hit just six weeks ago, but the current level of activity is still widely expected to lead to further production gains.

A drop to the 800-rig-level would be necessary to begin to balance the market, according to Baker Hughes.

Despite the weekly gain, global financial service provider Barclays expected prices to remain under pressure, citing a U.S. supply glut. 

“With inventory levels at record levels, even a cold winter would not put the U.S. gas market on a bullish path," the lender said in a report.

Elsewhere on the Nymex, light sweet crude oil futures for January delivery traded at USD97.36 a barrel by close of trade on Friday, edging 0.21% higher on the week, while heating oil for December delivery dropped 3.35% over the week to trade at USD2.939 per gallon by close of trade Friday.

Weekly outlook: November 28 - December 2 ..

Last week saw the euro decline against the U.S. dollar for the fourth successive week, amid concerns that the debt crisis in the region is beginning to threaten core economies such as Germany and France.

The euro tumbled to a seven-week low against the dollar on Friday as Italian 10-year bond yields climbed to near unsustainable levels, rising above 7% even as the European Central Bank bought bonds in the secondary market.

The rise in Italian borrowing costs came after a disappointing auction of Italian government debt and fanned fears that the debt crisis in the region is deepening.

The auction came two days after Germany, the euro zone’s largest economy, missed its EUR6 billion sales target at an auction of 10-year bonds, in its least successful debt sale since the launch of the single currency.

The poorly received auction was due in some part to low bond yields but sparked concerns that the debt crisis may have started affecting the euro zone's largest economy.

Meanwhile, ratings agency Fitch warned that France could lose its triple-A credit rating if European Union leaders fail to take action to prevent the crisis from worsening.

Investors remained jittery after comments by German Chancellor Angel Merkel underlined concerns that European leaders would be unable to find a resolution to the debt crisis.

Speaking at a joint news conference with France's Nicolas Sarkozy and Italy's Mario Monti following a meeting on Thursday, Merkel reiterated her belief that joint euro zone bonds would remove incentives for individual states to improve their fiscal discipline and rejected calls for an expanded role for the ECB in fighting the debt crisis.

The broadly stronger dollar rose to a two-week high against the yen on Friday and advanced to an almost eight month high against the Swiss franc amid speculation that the Swiss National Bank may raise the targeted exchange rate against the euro from its current 1.20 level.

The pound fell to a seven-week low against the dollar on Friday and looked likely to remain under pressure after a senior Bank of England policymaker said there was strong case for more quantitative easing once the current round of asset purchases was complete.

In the week ahead, investors will be eyeing an auction of Belgian government debt on Monday after ratings agency Standard & Poor's downgraded its rating on Belgium by one notch on Friday.

Meanwhile, euro zone finance ministers are to meet Wednesday to discuss details on leveraging the region's bailout fund, although a major announcement is unlikely.

Also next week, the U.S. is to release its closely watched report on non-farm payrolls.

Ahead of the coming week, Forex Pros has compiled a list of these and other significant events likely to affect the markets.

Monday, November 28
New Zealand is to publish a report on business confidence, a leading indicator of economic health.

In the euro zone, Germany is to produce preliminary data on consumer price inflation, which accounts for the majority of overall inflation, as well as a report on consumer climate, a leading indicator of consumer spending.

The U.K. is to publish industry data on retail sales, an important indicator of economic health.

Also Monday, the U.S. is to release official data on new home sales, a leading indicator of economic health.

Tuesday, November 29

Japan is to publish official data on retail sales, the foremost indicator of consumer spending, which accounts for the majority of overall economic activity as well as data on household spending and the unemployment rate.

Switzerland is to publish its UBS consumption indicator, an important indicator of economic health.

The U.K. is to publish industry data on house price inflation, while the Bank of England is to release data on net lending to individuals, M4 money supply and mortgage approvals. Meanwhile, the Treasury is to publish its annual forecast statement, which previews the government's budget for the coming year.

The U.S. is to release industry data on house price inflation as well as a report on consumer confidence, a leading indicator of consumer spending.

Elsewhere, Canada is to produce data on the current account while New Zealand is to publish government data on building consents, a leading gauge of future construction activity.

Wednesday, November 30

Japan is to release official data on manufacturing activity, as well as preliminary data on industrial production, a leading indicator of economic health. The country is also to publish data on average earnings and housing starts.

Elsewhere, Australia is to produce government data on private sector credit and private capital expenditure, leading indicators of economic health.

The U.K. is to publish data on consumer confidence, a leading indicator of consumer spending, while Switzerland is to publish the KOF economic barometer, which is designed to predict the direction of the economy over the following six months.

In the euro zone, Germany is to publish official data on retail sales and employment change while France is to publish government data on consumer spending. Meanwhile, ECB President Mario Draghi is to speak; his comments will be closely watched for any clues to the possible future direction of monetary policy.

The single currency bloc is also to produce preliminary data on consumer price inflation and the unemployment rate. In addition, finance ministers from European Union member states are to meet in Brussels to discuss the ongoing financial crisis in the region.

Later in the day, the U.S. is to release a closely watched report on non-farm payrolls compiled by payroll processing firm ADP, which leads government data by two days. The U.S. is also to release data on manufacturing activity in the Chicago area as well as government reports on pending home sales, non-farm productivity, labor costs and crude oil stockpiles.

Also Wednesday, Canada is to publish monthly data on gross domestic product, the broadest measure of economic activity and the primary gauge of the economy's health, as well as data on inflation.

Thursday, December 1


Australia is to publish official data on building approvals, an excellent gauge of future construction activity, as well as data on retail sales and commodity prices.

Switzerland is to publish government data on GDP, as well as a report on manufacturing activity, a leading indicator of economic health.

In the euro zone, ECB President Mario Draghi is to speak; his comments will be closely watched for any clues to the possible future direction of monetary policy.

 The U.K. is to publish data on manufacturing activity, a leading indicator of economic health.

Also Thursday, the U.S. is to release its weekly report on initial jobless claims, while the Institute of Supply Management is to release data on manufacturing activity.

Friday, December 2

Japan is to produce official data on capital spending, a leading indicator of economic health.

Elsewhere, Switzerland is to release government data on retail sales, while the U.K. is to publish data on construction sector activity, a leading indicator of economic health.

Later in the day, Canada is to publish official data on employment change and the unemployment rate.

The U.S. is to round up the week with a closely watched government report on non-farm employment change, a leading indicator of economic health, as well as data on average hourly earnings and the unemployment rate.

Saturday, 26 November 2011

Gold fluctuates in thin trade, Merkel comments in focus 。。

Gold futures fluctuated between modest gains and losses on Thursday, after German Chancellor Angela Merkel reiterated her opposition to the creation of euro bonds, adding to concerns over the deepening debt crisis in the euro zone.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,698.15 a troy ounce during early European morning trade, gaining 0.27%.     

The December contract traded between a range of USD1,688.65 a troy ounce, the daily low and USD1,702.65, the daily high.

Trading volumes were expected to be light with NYMEX Floor trading shut for the U.S. Thanksgiving holiday. Electronic transactions would be booked with Friday’s trades for settlement purposes.

Speaking at a joint news conference with France's Nicolas Sarkozy and Italy's Mario Monti following a meeting earlier, Merkel reiterated her belief that joint bonds would remove incentives for individual states to improve their fiscal discipline.

The remarks fanned fears that European leaders will not be able to agree on a solution to the region’s debt crisis.

Also Thursday, ratings agency Fitch downgraded Portugal’s sovereign rating to junk status, saying it expects gross domestic product to contract by 3% in 2012, making the government's deficit reduction plan far more challenging to execute.

Although gold is usually regarded as a safe haven asset in times of economic uncertainty, the precious metal has tended to move in line with stocks and other risk-sensitive commodities in recent sessions, with investors piling in to the relative safety of the U.S. dollar.

In October 2008, gold prices tumbled 18% as turmoil in global financial markets led to losses in global equity and commodity markets. The precious metal rallied 23% in the next two months.

Meanwhile, data from the International Monetary Fund released Wednesday showed that Germany’s central bank lowered its gold reserves for the first time since December 2010 in October. The Bundesbank sold 150,000 troy ounces last month to bring its total reserves to 109.194 million ounces.  

The IMF report showed that other central banks added to their gold holdings last month. Russia continued its program of gold accumulation, lifting its reserves by 627,000 ounces to 28.005 million ounces.

Kazakhstan also reported significant additions for the second consecutive month. Its reserves totaled 2.366 million ounces at the end of October, up from around 2.265 million ounces in September.

Elsewhere on the Comex, silver for December delivery fell 0.56% to trade at USD31.70 a troy ounce, while copper for December delivery tumbled 1.65% to trade at USD3.279 a pound.

 


EUR/USD down at the end of U.S. session

The Euro was lower against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3238, down 0.82% at time of writing.

The pair was likely to find support at 1.3213, today’s low, and resistance at 1.3568, Tuesday’s high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.46% to hit 0.8574 and EUR/JPY falling 0.02% to hit 102.91.

Friday, 25 November 2011

forex

Asian markets close lower; Nikkei down

Asian stocks were down after the closing bell on Friday.

At the close of Asian trade, Japan’s Nikkei 225 index fell 0.06%, Australia’s S&P/ASX 200 index shed 1.48%, while Hong Kong’s Hang Seng Index was trading 1.13% down.

Earlier in the day, official data showed that Tokyo’s core consumer price inflation fell unexpectedly to at annualized rate of -0.5% last month from -0.4% in the preceding month.

Analysts had expected Tokyo’s core CPI to rise to -0.3% last month.

Meanwhile, the outlook for U.S. equity markets was downbeat. Dow Jones Industrial Average futures indicated a loss of 0.29%, S&P 500 futures pointed to a decrease of 0.35% and Nasdaq 100 futures indicated a fall of 0.53%.

USD/CHF up during the European session

The U.S. Dollar was higher against the Swiss Franc on Friday.

USD/CHF was trading at 0.9262, up 0.73% at time of writing.

The pair was likely to find support at 0.9108, Tuesday’s low, and resistance at 0.9269, today’s high.

Meanwhile, the U.S. Dollar was up against the Euro and the Japanese Yen, with EUR/USD shedding 0.80% to hit 1.3241 and USD/JPY rising 0.45% to hit 77.46

EUR/GBP down during the European session

The Euro was lower against the British Pound on Friday.

EUR/GBP was trading at 0.8556, down 0.67% at time of writing.

The pair was likely to find support at 0.8546, today’s low, and resistance at 0.8665, Tuesday’s high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.90% to hit 1.3228 and EUR/JPY falling 0.36% to hit 102.55.

EUR/CHF up in European trade

- The Euro was higher against the Swiss Franc on Friday.

EUR/CHF was trading at 1.2312, up 0.32% at time of writing.

The pair was likely to find support at 1.2251, today’s low, and resistance at 1.2415, Monday’s high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.73% to hit 1.3251 and EUR/JPY falling 0.08% to hit 102.85.

NZD/USD up during the European session

The New Zealand Dollar was higher against the U.S. Dollar on Friday.

NZD/USD was trading at 0.7416, up 0.01% at time of writing.

The pair was likely to find support at 0.7371, today’s low, and resistance at 0.7572, Monday’s high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and up against the Euro, with AUD/NZD gaining 0.001% to hit 1.3127 and EUR/NZD falling 0.64% to hit 1.7885.

Thursday, 24 November 2011

Wheat drops to 4-month low on weak demand for U.S. supplies .

Wheat futures tumbled in thin holiday trade on Thursday, falling to the lowest level since early July as increasing competition for U.S. wheat exports and growing fears over the global economic outlook drove prices lower.

On the Chicago Mercantile Exchange, wheat futures for December delivery traded at USD5.7950 a bushel during European morning trade, tumbling 2.31%.

It earlier fell by as much as 2.83% to trade at USD5.7738 a bushel, the lowest since July 1.

Wheat prices came under pressure after Egypt said that it agreed to purchase nearly 240,000 tons of wheat at a tender earlier.

Nomani Nomani, vice chairman of the country’s General Authority for Supply Commodities confirmed that 180,000 tons out of the 240,000 purchased were Russian supplies, while the remaining 60,000 could be either Kazakh or Ukrainian wheat.

Speculation that Ethiopia bought 300,000 tonnes of Black Sea wheat also contributed to losses.

Wheat futures have declined in seven of the last ten trading sessions and have lost nearly 9% since the beginning of November, as increasing competition for U.S. exports has been dominating sentiment in recent weeks.

Meanwhile, commodity traders continued to eye developments surrounding the euro zone’s sovereign debt crisis.

Earlier in the day, ratings agency Fitch cut Portugal's sovereign credit rating to BB-plus from BBB-minus, with a negative outlook, putting the country's rating in junk status. The agency cited the country's large fiscal imbalances, high indebtedness and poor economic outlook.

Later Thursday, German, French and Italian leaders were to meet to discuss ways to deal with the region’s worsening financial troubles.

Concerns over the region’s debt crisis intensified on Wednesday after the least successful German bond sale since the launch of the single currency sparked concerns that Germany’s safe haven status could be threatened.

Also Wednesday, ratings agency Fitch warned that France could lose its triple-A credit rating if European Union leaders fail to take action to prevent the crisis from worsening.

Elsewhere on the Chicago Mercantile Exchange, corn for December delivery tumbled 1.7% to trade at a seven-week low of USD5.8838 a bushel, while soybeans for January delivery plunged 2.6% to trade at a 13-month low of USD11.2312 a bushel.

EUR/USD holds gains after Portugal downgrade ..

The euro held gains against the U.S. dollar on Thursday, after ratings agency Fitch downgraded Portugal’s sovereign rating to junk status, citing large fiscal imbalances and high debts.

EUR/USD hit 1.3411 during European early afternoon trade, the daily high; the pair subsequently consolidated at 1.3404, gaining 0.46%.

The pair was likely to find support at 1.3319, Wednesday’s low and a seven-week low and resistance at 1.3530, Wednesday’s high.

Fitch cut Portugal to BB+ from BBB-, saying it expects gross domestic product to contract by 3% in 2012, making the government's deficit reduction plan far more challenging to execute.

“The country's large fiscal imbalances, high indebtedness across all sectors, and adverse macroeconomic outlook mean the sovereign's credit profile is no longer consistent with an investment-grade rating,' Fitch said.

The euro eased off a seven-week low against the greenback earlier, after a report showed that German business confidence improved unexpectedly in November, indicating that the euro zone’s largest economy is coping with the region’s debt crisis better than experts had feared.

German research institute Ifo said its Business Climate Index rose to a seasonally adjusted 106.6 in November from 106.4 in October.

Analysts had expected the index to fall to 105.5.

Sentiment on the single currency soured on Wednesday after the least successful German bond sale since the launch of the single currency sparked concerns over contagion to core euro zone economies.

The euro was also higher against the pound, with EUR/GBP rising 0.21% to hit 0.8612.

Meanwhile, markets in the U.S. were to remain closed on Thursday for Thanksgiving.

Forex EUR/USD up at the end of U.S. session

The Euro was higher against the U.S. Dollar on Thursday.

EUR/USD was trading at 1.3346, up 0.03% at time of writing.

The pair was likely to find support at 1.3317, today’s low, and resistance at 1.3568, Tuesday’s high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.23% to hit 0.8614 and EUR/JPY falling 0.20% to hit 102.94.

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GoMarkets Discussion ..


Why was the last GoMarkets thread sent to the rubbish bin?

Either way, I've recently opened a live acc with them but before i invested some money i wanted to ask all you great sages for your experience/opinions.

reviews at http://www.forexpeacearmy.com/ (forex peace army - broker review site) have recently listed Gomarkets(AUS) as a pretty decent broker. Granted the early reviews were pretty bad but apparently they've cleaned up their act a lot. Also some guys here recommend the broker.

Before this change of heart I was using Alpari.co.uk I used Alpari because they seemed to be a well established, reliable broker. I however, took a 4 month break due to pressing concerns not forex related and when i returned to start trading again i found out that Alpari had taken a turn for the worse (according to reviews and posts here) so i was very apprehensive about trading with them again. I would love some thoughts and input about this.

Overall I'd like to know whether or not GoMarkets(AUS) is a GOOD broker who won't scam me of my money or try and sudden moves that'll destroy my account. Also, i'd like to know that they won't 'debt,' my account over random BS and that they also won't call me out of the blue telling me to fund my acc with more money or that it'll go bust.

I just want a reliable broker that won't scam me of my hard traded money...

Tuesday, 22 November 2011

The Really Useless Thread .

Hopes for This Thread
Just a place to share a little about our methods and discuss what is and isn’t working…your strengths and weaknesses, etc. Hopefully a few seasoned people join in, and through “the beg, borrow or steal” method…er, collaboration…we can all pick up a few gems from one another to improve our own methods. No need to give away the whole farm…your edge, so to speak…though. Share as much, or as little as you like. Contribute what you can…take away what you like.

I also find I get asked the same questions quite often. I often find it a pain to re-type a response…or to dig back through my posts to find a link to post for someone. I’m just going to use this thread…and particular posts which I will update over time, as the link I provide in such cases. If you find that happens to yourself often, too…and you don’t have a thread of your own for people to reference…bang out a post with some of your method. Keep it updated…and use that link as your answer to people on the often asked questions.

Rules of the Thread
Not a lot, really. I have set the vouch level required to post at the maximum, just to reduce some of the noise. If there was an option to make a “private” thread, I probably would have done that, but there is not. Vouch limit and my “ignore list” appear to be the only method to control posting rights. My “Iggy” list is empty…so that is not much use. 10+v and anybody on my “buddy list” can post. I have never really used my buddy list before, but I will update it over the next little while with this thread in mind.

If you don’t have enough vouches and really want to post something you think is valuable, you’ll probably find me in the EU thread. I roam these halls in Invisible mode, so I’m not sure if my PM feature appears active? I have it setup to be, but am unsure what Invisibility does to its status. If it is active…anybody is welcome to PM me at anytime. If it becomes problematic, I’ll step out of the shadows and become visible again. Also…If anyone has some obvious choices for me to include on my buddy list…let it rip.

We don’t have to post live calls or anything like that here…but feel free to if you want. I picture more of a reference type thread…an ever-expanding textbook, kind of thing. Post some charts and explain a bit about your method. Try to ask and answer a few questions…if they’re good. And of course…no amount of humor is too much! Bastards…”that’s what she said’s”…all welcome!

And now…a few words from Magix, that I have reprinted “without” his permission, because he has gone out drinking Guinness and eating curry for the night! If he wants me to pull them, I will…but I would just be rephrasing what he has already eloquently stated. I also need to thank Magix for helping me get this intro…and general direction of the thread together through his own experience starting threads. And last but not least…for the title of the thread! I was going to go with “The Really Useless Thread,” but Magix felt it might have the opposite effect to what I was hoping for.

Edit: There is already a thread titled “The Boardroom,” Mag. Had to go back to my original Useless name.

Alright…take it away, mate…

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NEW TRADERS
You wanna sit and hang, perhaps learn a little something from the seasoned vets, all are welcome, BUT:

1. The market has already publicly traded since the birth of the internet, so
- Your question has already been answered. (google it or use the FF search engine)
- Your view is already shared. Again, (google it or use the FF search engine)
- You look like a fool with your tinfoil hat, and these perspectives simply are not welcome.

2. Though we all hope to gain by a collaboration of experience, we already appreciate that we are a slave to our own market experience and though hope to improve, are not looking to START our careers as traders.

3. This is not your guide to getting rich quick. If you have taken entry as posted here, use your best judgment to take profit or cut losses. Those that participate do so of their own free will, not because "You" cannot pay your rent.

4. The use of the words "Fuck", "Feck", "Fak", are not reasons to report a member to admin, they are not a lack of respect nor professionalism; they ARE words that will get used.

5. The Senior members that post here may or may not have their PM's on to answer questions for you, do not abuse that privilege. If they do not have their PM active, they may have no intention answering your question nor wanting to, leave it at that.

6. Have fun and MAKE MONEY.
---------------------------------------------------------------------------------------------------------

Thanks brother, Mag!

Well…that’s about it, folks. We’ll see where it goes. Thanks in advance to all that contribute…and to those that I have already learned a lot from. There are some good heads here, and I consider it a privilege to be in contact with many of you when time permits.

All the best…and much success…you bunch of bastards!

AMAZING Strategy ...


finally found the amazing scalping strategy i have been looking for all my life!!!!

EuroRiddle v1.0 (99.9% accuracy):

> you make 1 trade per day on the EURUSD

> your "day" ends at 4:59EST and starts at 5pm EST

> use 60 minute chart with the MACD and RSI on the chart

> each day at 5pm EST you start watching the chart. it may take hours and hours of watching the chart, but keep watching until the high or low for the day has been hit.

> as soon as the daily high or low has been hit on the 60 minute charts, switch to your 1 minute charts. if the daily high or low has also been hit on the 1 minute chart, the signal is confirmed.

> after the signal is confirmed enter the trade immediately. if it is the high for the day that has been hit, go short. if it is the daily low that has been hit, go long.

> set stop loss of 15 pips and a profit target of 25 pips

Monday, 21 November 2011

Forex Market Outlook

Markets are selling off this morning as the realization that the debt “super-committee” was nothing more than a “super-sham” intended to set the stage for the unbearably ugly political battle we are about to see unfold over the course of the next year.  While the most optimistic of us had high hopes that they might be able to rise to the occasion and come up with solutions, the most pessimistic are saying, “told you so” this morning.
However all is not lost now that the abject failure of this doomed idea has materialized, as there will be automatic deficit reductions of $1.2 trillion.  The problem is that it these automatic cuts will not be made responsibly as it will hurt those who can afford it the least and will weaken our national defense in the process.  Thanks a lot.
Apparently Spain is a more reasonable place and they have elected a new conservative government who immediately are getting a baptism of fire but are saying all of the right things to start.  It is obvious that major reforms are needed in Spain and they appear committed to deficit reduction but this may be a losing proposition if the ECB does not do something about the rising yields in the region.
This is setting up an inter-Euro battle as the markets are calling for a TARP-like solution where the ECB becomes a buyer of last resort and keeps the bond vigilantes from driving yields higher.  As borrowing costs go up it makes it harder for countries to service debt whether they undertake massive austerity or not.  Both Germany and the ECB itself are dead-set against this type of solution which may be the only way the Euro in its current form can survive.
Meanwhile there is some economic data due out this week and most if it is shoved forward to the next two days as the US markets are closed on Thursday for the Thanksgiving holiday.  The economic data is weakening around the globe and now China is getting into the act saying that we are facing a prolonged global recession ahead.
To give a quick run-down of what’s happened earlier today and then what to expect later this week will probably be the most effective way to highlight this week’s action.  The big news from earlier this morning was that Japanese exports came in lower than expected and UK home prices fell more than expected.  These figures fall in line with the stalling global growth story so it will be important to see how Central banks respond.
The release of the BOE rate policy meeting will be out on Wednesday so we will see how committed they are to further monetary easing even after they increased their asset purchase program at the last meeting despite CPI readings in the 5% range.  The Bank of Japan could also be close to intervening again in its currency as recent strength has it back to levels close to highs from which earlier interventions were enacted.
Existing home sales in the US are due out later this morning and expected to have declined, and there are a bunch of ECB leaders speaking today as well.
Tomorrow will bring the release of the FOMC meeting minutes, as well as US personal consumption figures and US GDP estimates.  Canadian retail sales figures and EU consumer confidence round out the day.
Wednesday is packed with the aforementioned Central bank minutes releases, as well as Euro zone PMI and industrial orders figures.  US data releases include: durable goods orders, personal income and spending, initial jobless claims, and U Michigan consumer confidence figures.   Essentially these figures that are usually spread out along the week have been moved up for the holiday.
On Thursday, German GDP figures highlight the docket, with very little to be released on Friday.
Frankly I am a little surprised at the market reaction to the “super-failure” (as I am calling it) as I can’t believe that anyone thought this would work in the first place.  The concern is that the ratings agencies will downgrade the US yet again but we saw what happened the last time we got a downgrade—that yields in the US went LOWER as a result as the flight to safety trade kicked in.
I suppose the EU dragging its feet could also be an issue but the landslide election in Spain gives me hope that they people of Europe are starting to come around to the reality that things need to change.  Once they accept it and move on, they may be able to recover.
In other words, just another week in the forex market!

EurAnalysis ..

Welcome to EurAnalysis

Yes I know it sounds like urinalysis but in a way the purpose of this thread is to do more or less the same thing. The only difference is that instead of urine, we are analyzing the Euro against its most major counterpart; the US Dollar.

I invite all participants to contribute what they know about the EUR/USD as well as any other Euro related currency pairs.

Before I get started with submitting my first post, I want to lay down the ground rules of this thread. I only have a few rules but they will be strictly enforced.

1. During market hours, please keep the discussions strictly on issues directly related to trading the Euro and any other instrument which influences (or is influenced by) the Euro. This can be technical analysis of charts and indicators, Fundamental analysis of political and economic factors which directly or indirectly affect the Euro, or any other information you wish to exchange with others that you feel will be of help in determining general market sentiment or providing trade ideas. During off-market hours, you are free to engage in any discussion that you feel the other thread participants would find of interest. Just keep it clean please

2. If you are going to make a bold statement and represent it as fact, please back it up with authoritative references. This could be a chart for a trade call or technical analysis, or a link to a reputable news source for fundamental analysis.

3. Vulgarity, personal attacks, name calling or bullying of any kind for any reason will not be tolerated here. Neither will any posts claiming that the poster's trading methods are the only ones that work, and everybody else's is crap. Generally the only acceptable posts are the ones that offer value to other posters and I will determine whether any such posts meet that criteria at my sole discretion. Obviously healthy and clean debate is always welcome and encouraged. Furthermore, any poster who ignores any instructions given by the thread starter & moderator (that's me), will be immediately blocked without notice or explanation. This is done in order to allow me to maintain focus on my trades and other posters. If I have found reason to issue a fair warning to you, it means you have already gone too far so it is time for you to listen up and take notice.

4. In the interest of privacy and security for everyone who posts here, divulging your capital balance, profits or losses in any live trading account is very strongly discouraged. I cannot prevent you from doing it but it is not wise of you to do so on any public forums. If you want to tell other traders your profits and losses booked to balance, you may use aggregate pips based on the 4 decimal place system, or you may express it as a percentage of your capital. The same applies to floating profits and losses... pips or percentage of capital. Obviously this rule does not apply if you are trading in a demo account as long as you make that fact clear to others while posting your numbers.

Please note that failure to adhere to the rules of this thread by any member or visitor will result in a warning the first time and a possible suspension (at my sole discretion) on a repeat offence.

That's it for now but I reserve the right to add more rules as I see fit. If you have any ideas to share about some rules that will keep this thread clean and resourceful for others, please feel free to submit them.

Peace

=================================== =================================== ==================

SOME POSTING GUIDELINES:

(Added 23 October 2011)

I have noticed that at certain times, there was some discussion about certain posts made by certain members wherein text from linked articles was copied and pasted in line with the post. More specifically, the comments were more directed at these members making several such posts in succession and thereby "spamming" the thread.

While I agree that any such successive posts seem somewhat abusive, I cannot agree that they do not meet the requirements or that they violate any current rules or guidelines in this thread.

However, I would like to point out that in the interest of fairness to all, I would prefer to see less successive long postings from any one individual. If you feel a need to make a long post, please allow some time after your post for others to post their views before making another long post. The alternative would be to keep your posts short, or if you have much to say on a variety of topics, then please include them all in one post.

I must stress that these are guidelines and not rules.
I want to encourage everyone to post their views as they see fit and if an external article or news item describes it better than they can, I see no harm in quoting excerpts from any such external links.

One more thing though, which I believe I have made clear in the past and is also a rule.
During peak market hours, especially from Europe open to US close, I would like to see all philosophical, speculative and historical discussions kept to a minimum as this is the time for fundamental/technical analysis and trade calls.

=================================== =================================== ==================

DISCLAIMER:

Any trade or analysis related comments made in this thread by myself or any other person should not be interpreted as anything other than a point of view by the respective poster. It is your responsibility as a trader to decide what information to use and what to disregard and you do so at your own risk.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all traders or investors. Before deciding to trade the foreign exchange (Forex) markets, you should carefully consider your objectives, financial situation, needs and level of experience. The possibility exists that you could sustain a loss of some or all of your funds and therefore, you should not speculate with capital that you cannot afford to lose.

=================================== =================================== ==================

FF EMAIL SETTINGS:

(Added 12 October 2011)

Here are some instructions regarding emails you receive from this thread.

Once you post to this thread, depending on your current profile settings regarding email notification, you may start receiving an email for every post that is made on here after yours.
In order to change those option, you have to perform the following steps.

1. Go to your profile and click on the subscriptions link in the left hand column. That will give you a list of all the threads and news items you have posted in.

2. Put a check mark in the far right column of the ones you want to change.

3. At the bottom of the list you will find a pull-down menu. There you will find the subscription action options. Just select the option you want.

4. Click GO

You're done.

=================================== =================================== ==================

RESOURCES:

(Added 14 October 2011)

This is a new section which will list a variety of resources for new and seasoned traders alike. I will organize it and build on it as I see fit but welcome suggestions any time.

EDUCATIONAL:
1. Baby Pips School
2. Raghee Horner's 'Best of the daily trading edge" e-book
3. Chart School from stockcharts.com
4. Explains by cnbc.com
5. John Murphy's Ten Laws of Technical Trading
6. Forex trading systems collection revealed!
7. Martin J. Pring’s 19 Trading Rules to Beat the Markets

MARKET CHARTS:
1. Futures from Finviz.com
2. Major Currency Pairs from finviz.com

MARKET NEWS:
1. Yahoo Finance Currency News
2. RTT News Earnings Calendar
3. Forex Factory Events Calendar

ANALYSTS:
1. Marc Chandler @ SeekingAlpha
2. John Mauldin @ JohnMauldin.com - Frontline Thoughts

FF THREADS OF INTEREST:
1. Twelve widely believed forex myths
2. Trading with Deadly Accuracy

OTHER LINKS:
1. World Clocks

=================================== =================================== ==================

SEARCH FOR KEYWORDS:

If you would like to search this thread for a particular post you previously saw that is of interest to you, you don't need to go through all the pages looking for it. The folks at Forex Factory have provided us with a good keyword search tool which you will find in the left hand column of every page as a small box called "Search Forums". Just place a checkmark in "Only This Thread", type in your keyword and search. Try it, it's easy.

=================================== =================================== ==================

EU Crisis (Key Dates):

--Monday, Nov 21: IMF board meets to discuss disbursement of Greece's sixth aid tranche. New Greek Prime Minister Lucas Papademos visits Brussels to discuss aid disbursement

--Tuesday, Nov 22: Spanish T-bill auction.

--Thursday, Nov. 24: General strike in Portugal.

--Friday, Nov. 25: Italian T-bill/zero-coupon bond auction.

--Tuesday, Nov. 29: Italian bond auction. Final Portuguese budget vote. Euro-zone finance ministers meeting.

--Wednesday, Nov. 30: European Union finance ministers meeting.

--Thursday, Dec. 1: Spanish and French bond auctions. Europe-wide manufacturing purchasing managers index.

--Monday, Dec. 5: Europe-wide service-sector PMI data.

--Tuesday, Dec. 6: Third-quarter euro-zone gross-domestic-product report, second estimate.

--Wednesday, Dec. 7: Portuguese T-bill auction. European People's Party meeting in Marseilles, France.

--Thursday, Dec. 8: ECB interest-rate decision, press conference. Second day of European People's Party meeting.

--Friday, Dec. 9: EU leaders summit.

--Monday, Dec. 12: Italian T-bill auction.

--Tuesday, Dec. 13: First meeting of new Spanish parliament after election. A new prime minister must be elected by Dec. 28. Spanish T-Bill auction.

--Wednesday, Dec. 14: Italian bond auction.

--Thursday, Dec. 15: Spanish bond auction.

--Friday, Dec. 16: Greek T-bill auction.

--Monday, Dec. 19: EUR1.22 billion of Greek debt falls due.

--Tuesday, Dec. 20: Spanish T-bill auction.

--Wednesday, Dec. 21: Portuguese T-bill auction.

--Thursday, Dec. 22: EUR980 million of Greek debt falls due.

--Wednesday, Dec. 28: Italian T-bill, zero-coupon bond auction.

--Thursday, Dec. 29: EUR5.23 billion of Greek debt falls due. Italian bond auction.

--Friday, Dec. 30: EUR750 million of Greek debt falls due.

--Saturday, Dec. 31: Date by which Greek parliament votes on final 2012 budget.



=================================== =================================== ==================

Recent Euro Crisis analysis

Rome Burns, Greece Dawdles, China Fizzles 9 Nov 2011
A Beginner’s Guide to the European Debt Crisis 10 Nov 2011
Where is the ECB Printing Press? 11 Nov 2011

=================================== =================================== ==================

Links to Italian bond yields (15 minute delayed)

2 Year - 3 Year - 4 Year - 5 Year - 6 Year - 7 Year - 8 Year - 9 Year - 10 Year - 15 Year - 20 Year - 30 Year

Links to Spanish bond yields (15 minute delayed)

2 Year - 3 Year - 4 Year - 5 Year - 6 Year - 7 Year - 8 Year - 9 Year - 10 Year - 15 Year - 20 Year - 30 Year

Links to Greek bond yields (15 minute delayed)

2 Year - 3 Year - 4 Year - 5 Year - 6 Year - 7 Year - 8 Year - 9 Year - 10 Year - 15 Year - 20 Year - 30 Year

=================================== =================================== ==================

YOU MUST READ THIS:

Don't get trapped in a marriage you cannot handle.
Always use sound money management techniques.
It will save your account and your emotional well being.

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intraday price action trend trading ..


Here all the users can post your trading activity and help each others.
you can trade any pair and any time frame and post ur trades.
everyone is wellcome here.
happy trading
sho
TRADING VIDEOS














here is some charts.(couple from city and Rob)




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Professional forex: Forex - GBP/USD up at the end of U.S. session

Professional forex: Forex - GBP/USD up at the end of U.S. session: The British Pound was higher against the U.S. Dollar on Friday. GBP/USD was trading at 1.5806, up 0.33% at time of writing. The pair wa...

Sunday, 20 November 2011

Forex - GBP/USD up at the end of U.S. session

The British Pound was higher against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5806, up 0.33% at time of writing.

The pair was likely to find support at 1.5691, Thursday’s low, and resistance at 1.6092, Monday’s high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.18% to hit 0.8558 and GBP/JPY rising 0.22% to hit 121.55.

Forex - EUR/USD up at the end of U.S. session

The Euro was higher against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3525, up 0.50% at time of writing.

The pair was likely to find support at 1.3422, Wednesday’s low, and resistance at 1.3789, Monday’s high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.18% to hit 0.8558 and EUR/JPY rising 0.39% to hit 104.01.

Forex - Weekly outlook


The euro was higher against the U.S. dollar on Friday, paring some of the week’s losses amid speculation that the European Central Bank may lend to the International Monetary Fund for sovereign bailouts and as Italian and Spanish borrowing costs eased.

In Italy, newly-appointed Prime Minister Mario Monti won a parliamentary confidence vote, giving him a mandate to begin drafting his agenda, which includes passing emergency measures to restore investor confidence, as well as broader structural reforms.

Following the vote, Italian bond yields found support, falling back below the 7% threshold widely seen as unsustainable for borrowing in the long term. Spanish bond yields also eased after rising close to 7% at a government bond auction earlier in the week, as the ECB purchased Italian and Spanish government debt.

With a debt of approximately EUR2 trillion, Italy is widely viewed in the market as too big to bailout.

The pound was also higher against the dollar on Friday, tracking gains in the euro but sterling remained under pressure after Bank of England policymaker Martin Weale said there was a "very strong case" for extending the central bank's monetary easing program next year.

Elsewhere, the greenback rose to a five-week high against the Swiss franc on Thursday, amid speculation that the Swiss National Bank may lift the 1.20 floor against the euro, to reduce the risk of deflation and bolster growth.

The commodity linked Australian and New Zealand dollars were down for a third week against the greenback, with the Aussie briefly dipping below parity as ongoing concerns over the euro zone’s debt crisis weighed on demand for higher yielding assets.

Also last week, U.S. data showed that initial jobless claims unexpectedly fell to a seven-month low, while housing starts rose more-than-expected, supporting risk appetite.

In the week ahead, investors will be keeping a close eye on developments within the euro zone. Meanwhile, U.S. data on third quarter growth and durable goods orders will be closely watched, in order to gauge the strength of the country’s economic recovery.

Ahead of the coming week, Forex Pros has compiled a list of these and other significant events likely to affect the markets.

Monday, November 21

The Bank of Japan is to publish the minutes of its November policy meeting. The minutes contain insights into current economic conditions for the bank’s perspective. Japan is also to publish official data on the trade balance, the difference in value between imported and exported goods.

The U.K. is to release industry data on house price inflation, an important indicator of economic health. Meanwhile, the euro zone is to publish official data on the current account.

Later in the day, Canada is to produce government data on wholesale sales, an important indicator of economic health, while the U.S. is to release industry data on existing home sales.

Tuesday, November 22

New Zealand is to release official data on inflation expectations, an important indicator of economic growth. Elsewhere, Switzerland is to release official data on the trade balance.

The U.K. is to produce official data on public sector borrowing, while the euro zone is to publish a report on consumer confidence.

Canada is to publish official data on retail sales, the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

Later Tuesday, the U.S. is to release preliminary data on gross domestic product, the broadest measure of economic activity and the leading indicator of the economy's health. In addition, the U.S. Federal Reserve is to publish the minutes of its November policy meeting.

Wednesday, November 23
Australia is to publish an index of leading economic indicators, which is designed to predict the outcome of the economy over the following six months, as well as official data on construction work done, an important gauge of the construction industry. In Japan, markets are to remain closed for a national holiday.

The euro zone is to produce preliminary data on manufacturing and service sector growth, while France and Germany are to publish individual reports. The single currency bloc is also to publish official data on industrial new orders, a leading indicator of production.

In the U.K., the BoE is to publish the minutes of its November policy meeting. The country is also to produce industry data on mortgage approvals, an important indicator of demand in the housing sector.

The U.S. is to publish a string of economic data, including a government report on durable goods orders, a leading indicator of production. The country is also to publish its weekly report on initial jobless claims, in addition to data on crude oil stockpiles, inflation, personal income and personal spending. Meanwhile, the University of Michigan is to release revised data on inflation expectations and consumer sentiment.

Also Wednesday, Bank of Canada Governor Mark Carney is to speak; his comments will be closely watched for any clues to the future possible direction of monetary policy. Finally, New Zealand is to release government data on the trade balance.

Thursday, November 24


In the euro zone, Germany is to release revised data on third quarter GDP. Meanwhile, the Ifo Institute for Economic Research is to publish a report on German business climate, a leading indicator of economic health.

The U.K. is also to publish revised data on third quarter economic growth. In addition, the U.K. is to publish data on industrial order expectations, as well as preliminary data on business investment, a leading indicator of economic health.

Also Thursday, markets in the U.S. are to remain closed for the Thanksgiving holiday.

Friday, 18 November 2011

Hello 

This blog talks about everything that Forex Let Us
Proceed to the world of creativity with this blog
We hope you spend good time with us



By :Forex professional