Month: December 2010

By Forex Signs, Inc. – The improving Japanese capital spending and promising signs in the economy had been boosting the market sentiment, making the global growth as well as the Yen to strengthen against its 16 major counterparts.

Japan’s Economy on its Way to Recovery

Japan returns to its good economic health as most economic indicators that has a great impact on them has currently improved. GDP rose and Capital Spending with the increase in the demand for their exports and sales of primary commodities shoot up.

The Capital spending in Japan have improved from the previously forecasted 1.3 percent to 2.3 percent the effect in Japan’s currency is favorable. Most leading companies in Japan had also improved their sales giving them more profits which greatly affect an increase in investment confidence in Japan. However, on the basis of long term plan capital spending may appear to be relatively strong but the question as to stability of the value of monetary remains.

So far it is a good signal of improvement but it may only be short-lived as capital investment is at slow pace and it is difficult for the investors to anticipate a massive demand at home and yen’s strength is still doubtful on the exports.

ASIAN SESSION OUTLOOK

As of today’s Asian session, despite the fact that no indicator had been expected to be release later, the yen may still be inclined to volatility against its major counterparts as this boosting confidence in a global economic recovery drives the commodity currencies to appreciate, thus pushing the yen to slightly weaken compared to Aussie and Kiwi.

For the meantime, yen may perhaps drive in to volatility, since improvements in the market tend to be so overwhelming; however consolidation trend channel may still arise in the light trading events.

China to lead world in innovation by 2020: survey

China is set to become the world’s most important center for innovation by 2020, overtaking both the United States and Japan, according to a public opinion survey to be published on Monday.

China is already the world’s second-largest economy, after establishing itself as the global workshop for manufacturing. Now it wants to move up the value chain by leading in invention as well.

Today, the United States ranks as the world’s most innovative country, with 30 percent of people surveyed taking that view, followed by Japan on 25 percent and China on 14 percent.

Fast-forward 10 years, however, and 27 percent of people think China will be top dog, followed by India with 17 percent, the United States 14 percent and Japan 12 percent, according to the survey of 6,000 people in six countries done by drugmaker AstraZeneca.

The shift is not because the United States is doing less science and technology, but because countries like China and India are doing more — a fact reflected in a spike-up in successful Asian research efforts in recent years.

A study last month from Thomson Reuters showed China was now the second-largest producer of scientific papers, after the United States, and research and development (R&D) spending by Asian nations as a group in 2008 was $387 billion, compared with $384 billion in the United States and $280 billion in Europe.

ASIAN CONFIDENCE

Working out just how fast the world’s new emerging market giants are developing their know-how is critical to many technology-focused companies in the West, as they seek to redeploy R&D resources.

The pharmaceutical industry, in particular, has been anxious to tap into China’s science base and many companies, including AstraZeneca, have established Chinese centers as they try to reignite R&D productivity in laboratories at home.

The survey across Britain, the United States, Sweden, Japan, India and China found a strong sense of optimism amongst people living in China and India, in contrast to relative pessimism in the developed Western economies.

More than half of those in China and India thought their home countries would be the most innovative in the world by 2020, while just one in 20 Britons thought Britain would be able to claim this title.

There was an notable east-west divide in views of what had been the most important scientific breakthroughs. People in Asia put communications and computing top, while U.S. and European respondents placed equal importance on the invention of vaccines and antibiotics, the survey found.

About the Author

Forex Signs, Inc., Founded in 2006 in Wall Street, New York City, FSI relentlessly strives to be the premier Forex brokerage company in the industry by providing exclusive and unmatched trading and investment related services while constantly developing innovative solutions that cater to the vast requirements of both individual and institutional market participants.

By CountingPips.com

The latest Commitments of Traders (COT) report, released on Friday by the Chicago Mercantile Exchange, showed that futures speculators continued to cut their short bets of the US dollar against the other major currencies and are now short the British pound sterling. Non-commercial futures positions, those taken by hedge funds and large speculators, were overall net short the US dollar by $8.55 billion against other major currencies as of November 30th. This is down from a total short position of $9.74 billion on November 23rd, according to data published by Reuters which calculates the dollar positions against the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc. Speculators have now raised their bets in favor of the dollar for four straight weeks.

On an individual currency basis, speculators added to their long positions for the Japanese yen and cut shorts just slightly for the euro while decreasing positions in the British pound sterling, Canadian dollar, Swiss franc, Mexican peso, New Zealand dollar and the Australian dollar compared to the week before.

EuroFx: Currency specs were now short the euro against the U.S. dollar for a second straight week by 7,248 contracts as of November 30th. This is slightly less than net short positions of 8,293 contracts on November 23rd.

The COT report is published every Friday by the Chicago Mercantile Exchange (CME) and shows futures positions as of the previous Tuesday. It can be a useful tool for traders to gauge investor sentiment and to look for potential changes in the direction of a currency or commodity. Each currency contract is a quote for that currency directly against the U.S. dollar, where as a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and net long position expect that currency to rise versus the dollar. Open interest is the number of open contracts that have not been closed by a transaction or by delivery.

GBP: The British pound sterling positions turned over to the short side for the first time since September 28th with 4,864 short net contracts as of November 30th. This is a decline from 10,197 long contracts on November 23rd and marks a second straight weekly decline.

JPY: The Japanese yen net long contracts increased for a second week to 30,006 long contracts as of November 30th from 27,192 net long contracts reported on November 23rd.

CHF: Swiss franc long positions edged slightly lower to a total of 7,824 long contracts as of November 30th after totaling a net of 8,511 long contracts on November 23rd.

CAD: The Canadian dollar positions dipped for a second straight week as of November 30th. CAD long positions registered 19,155 contracts after totaling 22,499 net longs on November 23rd.

AUD: The Australian dollar positions decreased lower for the ninth straight week after reaching their highest level since April on September 28th. AUD contracts declined to a net amount of 26,643 long contracts as of November 30th from 28,471 long contracts on November 23rd.

NZD: New Zealand dollar futures positions declined for a second straight week as of November 30th. NZD long positions fell to a total of 18,445 long contracts after a total of 21,069 long contracts the week before.

MXN: Mexican peso long contracts edged lower as of November 30th to 78,906 net long positions from 87,246 longs the week prior. The latest data is the second straight week of decreases for the Mexican peso speculative positions.

COT Data Summary as of November 30th, 2010
Large Speculators Net Positions vs. the US Dollar

Euro: -7,248 contracts
British pound sterling: -4,864 contracts
Australian dollar: +26,643 contracts
Canadian dollar: +19,155 contracts
Japanese yen: +30,006 contracts
Mexican peso: +78,906 contracts
New Zealand dollar: +18,445 contracts
Swiss franc: +7,824 contracts

Go to the Commitment of Traders CME raw futures data

Further COT Resources from around the web:

• Forecast The FX Market With The COT Report

• The Only Indicator You Will Ever Need

Last week the European Central Bank succeeded in calming the exchange markets when it aggressively bought Portuguese and Spanish government bonds. These purchases tightened bond spreads in the indebted EMU nations and prevented the bond crisis spreading.

The ECB purchases though were a short-term measure designed to assure the markets while EU officials and EMU member states devise a more permanent solution. This month the markets will expect the EMU nations to announce a long term solution.

For instance over the weekend the Italian government raised the possibility of E-Bonds whereby members of the EMU would hold stake in a collective EU debt. This suggestion has been vetoed by the German government but raises the spectre of integrated fiscal union among EMU members.

Furthermore this morning the IMF has implored the EMU to boost its collective rescue fund in the event that Portugal and Spain require a bailout. This in turn has sparked recriminations inside the EMU that the IMF should contribute a larger amount to indebted member states.

In short the common currency is in a holding pattern at the moment until something permanent is announced. The ECB can continue buying government bonds to ensure indebted member states remain liquid for the moment but ultimately something permanent must be decided.

Elsewhere the pound benefited from some strong economic releases last week including positive manufacturing and construction PMI numbers. This could continue this week: December’s industrial production and trade figures are released on Tuesday for instance.

In addition on Thursday the MPC announces the monthly interest rate changes. The Bank of England isn’t expected to increase interest rates and is unlikely to increase quantitative easing (for the moment at least).

Finally in the US last week non-farm payroll data was pretty negative pointing to a shaky recovery for the country. In addition unemployment figures increase 0.2% to 9.8% in spite of efforts to restart the economy with quantitative easing. This morning for instance the Chairman of the Federal Reserve Ben Bernanke announced that QE3 was a possibility in order to drive down US unemployment.

In spite of these negative announcements the dollar is performing strongly against sterling and the euro this morning. This might be owing to continuing uncertainty in the EMU and the treatment of the dollar as a safe haven currency.

By Peter Lavelle with foreign currency exchange specialists Pure FX.

By Anton Eljwizat – Crude oil prices rose above $89 a barrel today, despite an unexpected rise in US unemployment. Oil has made a significant upward correction, which can be directly correlated with the bullish trend of the EUR/USD cross. This recent activity has raised the stakes for traders. However, I will illustrate below that the oil may very well be heading for a reversal. From here on, the forex and commodity markets will see very high volatility indeed.

• Below is the daily chart for crude oil by ForexYard.

• The technical indicators used are the Slow Stochastic, Relative Strength Index (RSI) and Williams Percent Range.

• Point 1: There is a “doji” candlestick that has formed on the chart, indicating that a reversal should take place.

• Point 2: The Slow Stochastic indicates an impending bearish cross, signaling that the next move may be in a downward direction.

• Point 3: The RSI signals that the price of this pair currently floats in the over-bought territory, indicating downward pressure.

• Point 4: The William’s Percent Range also supports the downward direction.

Crude Oil Daily Chart

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By GCI Forex Research

Fundamental Outlook at 0800 GMT (EDT + 0400)

USD

Fed Chairman Bernanke’s CBS interview provided no further dollar negative remarks and this allowed the greenback to claw back some of last week’s losses during the Asia session. EURUSD traded 1.3334-1.3442, USDJPY 82.57-82.99. Spot gold remains near all-time highs, and is changing hands for $1414.18/oz at the time of writing. The dollar came under some severe selling pressure on Friday, mainly due to a much weaker than expected payrolls report. Comments attributed to Fed Chairman Bernanke also encouraged the selling to continue when he said he would not rule out UST purchases beyond the $600bn currently ear-marked for QE2. Meanwhile, intra-Eurozone sovereign bond spreads continued to tighten throughout the day, which led to a partial unwind of the safe-haven flows that had previously supported the dollar. November payrolls only rose +39k (cons. +150k), and private payrolls were equally unspectacular, climbing only +50k (cons. +160k). The unemployment rate also jumped unexpectedly to 9.8% (cons. 9.6%). The November non-manufacturing ISM printed a better than expected 55.0 (cons. 54.8), but this was not enough to turn the tide on the dollar selling on Friday. Our analysts note that better news on the employment front could lie ahead given that the latest manufacturing and non-manufacturing ISMs now imply payrolls growth of a little under +200k per month.
EUR

Sovereign bond spreads continued to tighten sharply on Friday amid newswire reports of intense ECB activity. ECB Governing Council member Nowotny later declared that the ECB had “energetically” used its sovereign bond purchase program during the week. Today, the ECB are due to release the value of ECB bond purchases which settled last week, but this will only include purchases undertaken before the close on Tuesday evening.
Eurozone finance ministers are due to meet today for a scheduled monthly meeting, and newswires suggest that IMF Managing Director Strauss-Kahn and ECB President Trichet are due to join in the discussions.
Writing in The Financial Times, Eurogroup Chairman Juncker and Italian Finance Minister Tremonti proposed that a new European debt agency should be set up in the coming months with the intention of issuing European sovereign bonds. German Finance Minister Schaeuble dismissed the idea saying that a treaty change would be required, and pointing out that individual countries must continue to be incentivised to exercise discipline over national finances.
Belgium’s Finance Minister Reynders suggested that the size of the Eurozone’s financial rescue fund could be increased over the “next weeks or months”. Earlier, Trichet appeared to recommend such a course of action. Referring to the stabilisation fund, Trichet said it is important that “everything is commensurate to the dimension of the challenges”. However, Spain’s Economy Minister Salgado said that the question of whether to increase the size of the EFSF fund is “not the question for the moment. Today, we need to show clarity, determination and coordination”.
ECB Governing Council member Nowotny said that the euro remains a fully functioning currency, and that a hypothetical breakup of the Eurozone would have “massive disadvantages for both sides”. He added that “the only thing that would profit from this would be the dollar, and Europe would lose”.
GBP

The headline services PMI was in-line with consensus at 53.2, but the forward-looking new business balance rose by the fastest amount since June. Our UK economist still expects no policy change from this week’s MPC meeting.
CAD

Employment rose in November by +15.k (cons. +19.8k), falling well short of consensus expectations. The unemployment rate unexpectedly fell to 7.6% (prev. 7.9%), but this was partly due to a sharp fall in the participation rate.

TECHNICAL OUTLOOK
EURCHF 1.3229 resistance.
EURUSD BEARISH Recovery pressures 1.3448; as long as the level holds, expect decline towards 1.3193 and 1.2969 next.
USDJPY NEUTRAL Sell-off on Friday found support at 82.53. Resistance at 83.90.
GBPUSD BEARISH Break of 1.5773 exposes 1.5840 previous low. While the level holds expect losses to target 1.5581.
USDCHF NEUTRAL Abrupt decline through 0.9849 found support at 0.9727. Resistance at 0.9951.
AUDUSD NEUTRAL Recovery eyes 0.9954, support comes in at 0.9864.
USDCAD BEARISH Focus is on the 0.9978/31 support zone. Resistance at 1.0190.
EURCHF BEARISH As long as resistance at 1.3229 breakout low holds, expect losses to target 1.2933 and 1.2766 next.
EURGBP BEARISH Push through 0.8329 would expose 0.8202. Resistance at 0.8564.
EURJPY BEARISH Decline through 108.35 and 107.73 would open up the way towards 105.44 key low. Near-term resistance at 111.98.

Forex Daily Market Commentary provided by GCI Financial Ltd.

GCI Financial Ltd (”GCI”) is a regulated securities and commodities trading firm, specializing in online Foreign Exchange (”Forex”) brokerage. GCI executes billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference (”CFDs”) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements.

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be U.S.ed as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Source: ForexYard

Last week’s session ended with a rather disappointing U.S. Non-Farm Payrolls data as payrolls increased by merely 43,000 in November. As a result, the Japanese yen, and commodities such as gold and crude oil, have rallied. The U.S. dollar on the other hand has tumbled against all the major currencies.

Economic News

USD – Dollar Closes Last Week with a Bearish Trend

The U.S. dollar fell last week against most of its major counterparts. The dollar began last week’s trading session with a rising trend, yet by Tuesday the trend has broadly reversed. As a result, the dollar dropped about 450 pips vs. the euro, and about 200 pips vs. the Japanese yen.

The dollar’s bearishness came as a result of disappointing economic data which was released from the U.S., especially regarding the labor market. The most significant data was the Non-Farm Payrolls. The release showed that payrolls increased by 39,000 in November, well below expectations for a 143,000 rise. In addition, the jobless rate rose to 9.8 percent, the highest since April. Another disappointing data was the weekly Unemployment Claims release. The report showed that applications to begin receiving unemployment insurance in the U.S. rose more than forecast last week. Jobless claims increased by 26,000 to 436,000 in the week ended in November 27, failing to reach expectations for 425,000 applications. The unsatisfying employment data have raised concern that the U.S. economic recovery might take longer than expected, and as a result decreased demand for the dollar.

Looking ahead to this week, traders are advised to follow the leading publications from the U.S. economy. Special attention should be given to the weekly Unemployment Claims, the Trade Balance and the Consumer Sentiment reports, as each of these releases is likely to create heavy volatility in the market.

EUR – Euro Corrects Losses before the Weekend

The euro began last week’s trading session with sharp drops against most of the major currencies, yet by the weekend managed to erase most losses. The euro gained about 450 pips vs. the U.S. dollar, and the EUR/USD is once again trading around the 1.3400 level. The euro also gained about 150 pips vs. the British pound and about 200 pips against the Japanese yen.

The euro corrected losses last weeks after indications of aggressive bond buying by the European Central Bank (ECB). In addition, ECB President Jean-Claude Trichet asked political leaders in the region to go as far as possible and be as effective as possible, and added that the ECB will keep offering banks as much cash as they want through the first quarter up to three months.

Today, European finance ministers have traveled to Brussels as Belgium argues that the region’s bailout fund should be increased to fight contagion from the sovereign crisis. European officials will meet today, and their joint statement is likely to have a large impact on the market.

As for the rest of the week, traders are advised to follow all developments regarding the European debt crisis, as this is likely to remain the most significant issue for the near future. Traders are also advised to follow the leading releases from the German economy, such as the Factory Orders and the Industrial Production reports.

JPY – Yen Gains against Most Major Currency Counterparts

Yen Strengthens Vs. The Majors as Disappointing U.S. Jobs Data Boosts Demand for Safe-Haven Currencies

The Japanese yen ended a volatile trading week with a bullish trend. On Friday, the yen gained about 120 pips vs. the U.S. dollar, closing last week’s session with a total 200 pip gain. The yen also saw a 100 pip gain vs. the euro and a 150 pips gain against the British pound.

The yen soared on Friday, as reports showed that the U.S. Unemployment Rate rose to 9.8 percent, failing to remain at 9.6 percent as expected. In addition, U.S. payrolls increased by 39,000 in November, failing to reach expectations for an increase of 143,000 employed people. This has supported concerns that the U.S. economy might not recover as quickly as expected, and as a result boosted demand for safe-haven currencies, such as the Japanese yen.

As for this week, traders are advised to follow the leading economic releases from the Japanese economy, especially the Core Machinery Orders on Tuesday and the Final GDP on Wednesday, as these are likely to have a large impact on the yen.

Oil – Crude Oil Rallies – Trading At A 2-Year High

Crude oil rallied to an annual record high on Friday trading, closing an extremely bullish trading week. Crude oil was traded near $83.00 a barrel as market opened last week, and by Friday crude strengthened to $89.60 a barrel, marking a 25-month high, since October 2008.

Crude oil strengthened on Friday following the U.S. dollar’s depreciation. The dollar’s fall has boosted demand for dollar-dominated commodities, such as crude oil and gold. Gold rose to $1,415 an ounce, and is trading near an all-time high. The dollar fell on Friday after U.S. employers added fewer jobs than forecast in November, and the unemployment rate has unexpectedly increased.

As for this week, traders are advised to follow the leading economic releases from the U.S. and the euro-zone, as these are likely to have a significant impact on crude oil trading. Traders are also advised to follow the U.S. Crude Oil Inventories report, which is scheduled on Wednesday, as this report tends to have an instant impact on the market.

Technical News

EUR/USD

The EUR/USD pair saw a 400 rise over the past few days, and is currently trading near the 1.3350 level. However, as a bearish cross takes place on the 4-hour chart’s Slow Stochastic, a bearish correction might be impending. Going short with tight stops might be the right strategy today.

GBP/USD

The cable has managed to correct some of its losses over the past week, and the pair is currently trading near the 1.5740 level. In addition, a bullish cross of the daily chart’s MACD suggests that the bullish move might proceed, with potential to reach the 1.5820 level.

USD/JPY

The pair has recently peaked at the 84.30 level, yet it saw sharp bullishness ever since. Currently as both the Slow Stochastic and the MACD on the daily chart are providing bearish indications, it seems that another bearish movement might take place today. Going short might be the right choice today.

USD/CHF

The pair’s bullish correction appears to be over, as the USD/CHF has dropped about 300 pips in a couple of days, and is now trading near the 0.9770 level. The pair is currently trading near significant lows, and as all oscillators on the daily chart are pointing down, the pair might reach as low as the 0.9680 level.

The Wild Card

Gold

Gold rallied throughout all last week’s trading session, especially on Friday, and is currently trading near the $1,415 level, testing an all-time high of $1,424 an ounce. And now, as both the MACD and the RSI on the daily chart are pointing up, it seems that gold might reach a new record high today. This might be a great opportunity for forex traders to join a very popular trend.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By Paul Bryan

Foreign Exchange Trading is a very profitable business and is full of risks. Any person interested in starting off on Forex Currency Trading should make a very good study of the market, contact financial advisers, and look up the various Forex Currency Charts available on the web.

Forex currency charts help economists to get information on money flow, moving average, price oscillator, rate of change, relative strength index, and other technical indicators that may help them in taking informed decisions.

Forex currency charts provide information on market movement to the people in the business of forex, like the forex traders and others who trade forex for the purpose of the business like travel agents and banks.

Through the analysis of these charts strategies and decisions on the forex market can be made by these dealers of forex. These forex charts guide the traders of forex with accurate information on liquidity, to see the imbalances in the forex currency trade and assess how an individuals trading can affect the market.

The forex Chart is generally used to see the market trend of the currency. It can also be used to see the long-term trend of the currency.

On the web there are several forex currency charts available for users to view. Data for currency rates for more than 1000 countries divided into various regions are presented as charts and graphs. Banks like Abbey National, ABN Amro, Zurcher Kantonal, and Westpac provide these forex data to determine the currency fluctuations all over the world.

Forward rate is the exchange rate for the currency in the future. Forward rate charts help gauge your wealth in the future if you are trading in foreign exchange.

On the web there are websites where we can choose the currency from a big drop-down list, choose the number of months for which the forex currency charts to predict the rate is to be seen and click the update charts button. Very quickly line graphs showing currency rates will be displayed for you to analyse.

When you are going in for forex trading it is best that you do trading as soon as the market opens or before it closes. It is worth trading for an hour in the morning and an hour in the evening.

Forex Currency Charts will give you accurate information on which currencies you should trade on, which can give you maximum returns in the short run or in the future. These graphs are very indicative of all the market factors and can be very useful.

About the Author

For more information about forex trading please visit: Forex Currency Charts

By Paul Bryan – Buying and selling of currencies in the international Forex trade holds a certain fascination for those understands it. As a beginner it would be wise for you to go into Forex business with the guidance of a broker. A broker is a person who has the knowledge of the market and its mechanisms and can give you suitable advice. To know which broker would be best for you, you will need to compare Forex broker.

For Forex broker comparison you will have to through some of the review sites that will give a fair idea of most of the brokers operating online. When you read up the reviews of different Forex brokers at Forex broker comparison sites you will come to know the plus points and weaknesses of each broker.

Safety factor

The money you invest in the currency trade is the most important thing and its safety is of utmost importance. While you compare Forex broker you have to see that the broker should be honest in their dealing. The authenticity of a broker can be known from the seal of approval that is given to it by the authorities of the country to which the broker belongs. For example in USA the broker should be the member of NFA or CFTC which will show its authenticity and should be safe for you to select it. In European countries as well as other countries of the world the brokers get their license and approval from the authorities. While you compare Forex brokers you may come across great offers from some of the brokers but if they are not licensed it is best to avoid them.

Commission charging

When you go for Forex broker comparison you must see the kind of commission they are charging. The commission of the brokers depends upon the Bid and Ask price after the trade is finalized. They do not charge any other fee. Some of the brokers do not take any fee and this will be to the advantage of the trader. While most of the brokers who charge commission charge 2/3 pips on Euro/Dollars, the no commission brokers will charge 3 pips on Euro/Dollars on your spread.

Initial deposit

There are brokers who will let you open a mini account with $50 to $500. The return from such accounts is not much. Though as a beginner you may like to invest less in case there is a loss. The other Forex brokers will ask you make initial deposit of $1000 to $2000 as these deposits are more profitable in the market. It is up to you as to which broker you would like to make your deposit with when you do your Forex broker comparison.

Currency dealing

Another area where you would like to compare Forex broker is the currencies they are dealing with in the Forex trade. You may have particular requirement as far as currency is concerned and you will have to find a suitable broker who will deal with the currency you want.

Customer care

It is necessary for you to compare Forex broker on the basis of their customer support. Those which are the best in the market are providing assistance to their clients 24×7 and taking care of all their questions and needs. They have to have friendly attitude and give you a patient hearing while trying to solve your problem. Doing Forex broker comparison you must know the customer service of a particular broker.

About the Author

Paul Bryan operates Compare Forex Brokers – A site aimed at providing the best independent reviews and advice on all products and services related to foreign currency exchange trading.

Have you ever wondered why it is said that any good student can make a good teacher but not any good teacher can make a good student? Well, that seemed to be my question some time back. And I could not get any logical answer until I read an article by an FX guru who was talking about the issue of a Forex trading training course; he said that it was very easy for new traders to easily learn and teach others (what they learn in a trading training course) since their thirst for knowledge was immense and they knew that by teaching others, they, in turn, gained. The experts on the other hand (whose basic function is to teach) feel like they already know too much and thus have a tendency of pushing away any opportunities of getting new information.

Through this simple observation, I not only got my answer, but also had a great urge in knowing what was entailed in a Forex trading training course. And based on my research, it turned out that everyone who is interested in being successful in foreign exchange must undergo a training course. I know at this juncture, many of you are already disputing this and want to bombard me with intellectual arguments; if you are one of them, just read through to the end of this article and I am sure you will find your answer.

The foreign exchange (FX) market is an art in the sense that it requires methods, strategies and unique individual skills to be successful. However, it is also a science that has proven or quantifiable means of operations as well as needle-point precision formulas that must be adhered to. And just like an artistic Mason has to go through schooling to sharpen his unique individual skills or as a medical doctor must be taught how to be precise in his procedures; so it is that a trader needs to go through a Forex trading training course.

I know there are individuals who have gambled their way to success in the FX trade, but that will not be of much help to others since investors need an ascertainable method of trading; and this can best be found by going through a training course. In fact, it is documented that there is a higher percentage of success for people who use definite strategies in FX than those who rely on guesswork.

And as if that is not enough, a Forex trading training course comes with the benefit of getting certified qualifications which legitimize you as a qualified Forex trader! These qualifications are what differentiate professionals and quacks in FX brokerage firms, training institutions and so forth. This is in sharp contrast with the “fluke” kind of traders who have nothing to show for their unquantifiable skills.

A number of organizations nowadays offer a Forex trading training course at very affordable prices sometimes even for free. All you have to do is sacrifice just a little of your time and reap the immense benefits thereafter rather than ignorantly operating in the foreign exchange market and plunging into huge losses.

Anyone can learn Forex trading and a system that can make them money and you can research one yourself. However, the best Forex courses, will give you ready to use tools and strategies you can apply right away. Even better, all the logic will be explained to you so you can trade with confidence and discipline.

Additionally, the very best courses offer other benefits in terms of getting you ready for currency trading success:

They will typically, trade the market in real-time which will develop your confidence and also, allow you to see just how profitable the buying and selling strategy is in real-time dealing. The best courses additionally offer you a money back guarantee if you don’t prefer the strategy or perhaps you just don’t want to buy and sell foreign currencies.

The best training courses also have 1-on-1 devoted experts whom you may contact with any questions or perhaps queries you may have, while you are learning to deal. Thus, get a complete trading solution that can help you become a successful Forex trader.

About the Author

Harald Reno is publisher of http://www.ForexWealth4U.com. On his website he provides information on importance of taking Forex trading training course to succeed as trader. You can also register for FREE Mini-Course on “Forex Trading Tips” to gain rare insight into Forex Trading

Forex charts is one of the most important trading instruments in online trading, whether you are trading futures, shares, indices or Forex. For many traders Forex charts is a key to successful trading as they build their whole Forex trading strategy basing on the information that they get from the charts only. You can know a lot from a simple chart for a certain currency pair: historical movements, past and present quotes, trends and suggest the future trends. But before you start trading using the charts, you need to learn and practice in order to understand them.

Reading the charts is called a technical analysis. In general there are two types of the analysis: technical and fundamental. While technical is concentrated on the charts, fundamental is based on the world economical events and financial news. There are traders who trade using only one of the analysis types, but there also traders who concentrate their attention on both technical and fundamental analysis in order to have the full information about the certain currency pairs that they trade with. In this article we will give you an introduction to the charts trading.

In order to start you will need a demo trading account. Almost all Forex trading brokers provide their traders with a free demo account where you can practice your trading skills using the real quotes and graphs. When you register for a demo account you can choose few currency pairs’ charts that you will watch and practice on. We recommend you to start with the currency pairs that include USD, for example EUR/USD, USD/JPY, USD/SGD, etc. The USD currency pairs are the most active and have lower spreads. Besides it is much better if you trade with only few currency pairs and watch their movements. When you know what moves these currencies and how they react on different factors it will be easier for you to predict their directions. Most all professional traders stick to a few currency pairs and trade with them only.

You can set your chart for different time frames according to your trading strategy. The usual time frames that charts offer are from 1 min to a week. Means that each candle stick that you see in the chart is creating during the time frame you set. So if you have an hour of your free time to practice your trading, we recommend you to set your chart on a 5 min time frame, so every 5 min when the last candle stick completes you will be able to make a decision regarding your trading. But we recommend using the little time frames like up to 1 hour for practice purpose only. Most of the professional traders use 1 day time frame or even 1 week targeting for the long term trading. The long term trading is more accurate and has more chances for brining you good profit. But on the other side the long term and high time frame of your chart demand higher investments and big margin.

About the Author

Daniel Shaw is a proud author of many popular materials about Forex trading. Visit his portal Singapore Trader to find more information about Forex Trading in Singapore and Mustafa Forex.