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Archive for August, 2006

Short Term Analysis – August 18, 2006

Friday, August 18th, 2006

USDJPY

20060818_usdjpy_1.gifUSDJPY is bottoming on 4 hours chart, further rise above 116.74 previous high is possible in next several days. Key resistance is now at 116.37, a break above this level may signal the cycle bottom.

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Short Term Analysis – August 16, 2006

Wednesday, August 16th, 2006

USDJPY

20060816_usdjpy_1.gifAs expected, USDJPY pulled back from 116.74 and topped on 4 hours chart. Further fall towards 114.67 previous low support to reach its cycle bottom is possible in the next several days. Key resistance is at 116.74, only break above this level may signal the resumption of the up trend.

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Short Term Analysis – August 15, 2006

Tuesday, August 15th, 2006

USDCAD

20060815_usdcad_1.gifUSDCAD is in up trend, further rise towards 1.1345 resistance is possible later today, a break above this level may signal the medium term bullish movement, and the target of this bullish movement would be above 1.1457 previous high.

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Short Term Analysis – August 14, 2006

Monday, August 14th, 2006

EURUSD

20060814_eurusd_1.gifEURUSD is in down trend, further fall to test the near term support at 1.2659 level is possible later to day. On the other side, the fall from 1.2911 is treated as in correction of the previous up trend from 1.2457 to 1.2911, more volatility may be expected during this correction, rebound towards 1.2850 area is still possible in the next several days. (more…)

Short Term Analysis – August 11, 2006

Friday, August 11th, 2006

USDCHF

USDCHF is in correction to the down trend. Further rise to test 1.2422 previous high is possible later today. On the other side, we don’t want to treat USDCHF as in up trend at this moment, and still expect a resumption of the down trend. (more…)

Short Term Analysis – August 10, 2006

Thursday, August 10th, 2006

USDCHF

USDCHF is forming a sideways consolidation nearing to the medium term support at 1.2182 (the day low of July 7). This support is more likely to be broken soon after this sideways consolidation. Key resistance is now at 1.2330, only break above this level may signal a reversal of the down trend. (more…)

Short Term Analysis – August 9, 2006

Wednesday, August 9th, 2006

USDCHF

USDCHF bottomed on 4 hours chart and is treated as in correction to the down trend. Further rise higher to test the resistance at 1.2354 is possible later today, a break above this level may delay the resumption of the down trend. (more…)

Short Term Analysis – August 8, 2006

Tuesday, August 8th, 2006

USDCHF

USDCHF is in down trend, the rebound from 1.2191 is possibly be a correction to the down trend, and the down trend will resume after broken below the support at 1.2191. Key resistance is at 1.2354, only break above this level may signal a reversal of the down trend. (more…)

Get A Basic Forex Education Before You Start Trading

Monday, August 7th, 2006

Understanding Forex

Forex can be very intriquing. To the uninitiated, it can be very complicating. Foreign exchange (currency or forex or FX), is all about money. Money from all over the world is bought, sold and traded. On the Forex market, anyone can buy and sell currency and with possibly come out ahead in the end. When dealing with the foreign currency exchange, it is possible to buy the currency of one country, sell it and make a profit. For example, a trader might buy a Japanese yen when the yen to dollar ratio increases, then sell the yens and buy back American dollars for a profit.

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5 Important Strategies in Forex Trading

Monday, August 7th, 2006

When trading in Forex market, it is important to work out winning strategies beforehand if at all possible. Making decisions regarding your forex trading and developing a strategy can be seen as your foundation. With your strategy you will optimize your risk with respect to the expected reward, or put the odds in your favor. Trading strategies should be disciplined and limit risk, while placing you at the most favorable advantage in the market. One strategy is the simple moving away average, which is based on a technical study over twelve periods, with each period fifteen minutes in length. This is a good example of a trading decision that is arrived at through strategy.

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