USDJPY stays above 83.09 support and remains in uptrend from 81.13, the fall from 83.96 is treated as consolidation of uptrend. As long as 83.09 support holds, uptrend could be expected to resume and one more rise towards 84.49 resistance is still possible. However, a breakdown below 83.09 will indicate that a cycle top had been formed at 83.96 level on 4-hour chart, and the rise from 81.13 had completed, then the following downward move could bring price back to 82.00 area.
New York – February 2011 – CitiFX Pro today announced a new pricing
structure for its clients, reflecting its focus on sophisticated and active individual
traders within the forex trading community.
CitiFX Pro introduced a tiered account structure for its margin forex clients, with
improved bid-ask spreads for major currency pairs for account sizes between
$10,000 to $50,000 and still tighter spreads for accounts larger than $50,000.
“Our extensive survey research conducted in late 2010 showed that the
individual forex trading market is growing rapidly in both size and sophistication,”
said Sanjay Madgavkar, Global Head of Margin Foreign Exchange trading at Citi.
“As a major participant in the global forex markets, Citi is well positioned to offer
extremely competitive, highly reliable pricing along with excellent technology and
client support that have already made CitiFX Pro a key player in this space,” Mr.
Madgavkar said.
CitiFX Pro said that spreads on major pairs for accounts opened with $50,000 or
more would be as tight as 1.2 pips in the EURUSD while USDJPY, GBPUSD,
AUDUSD would be 1.7 pips, 2.0 pips, and 1.9 pips respectively, under normal
market conditions.
An overview of spreads on 130+ currency pairs is available at
http://www.citifxpro.com/spreads.
About CitiFX Pro
CitiFX Pro is Citi’s online forex trading platform for active individual and small
institutional clients including commodity trading advisors, broker-dealers, money
managers, and hedge funds. CitiFX Pro is currently live in US, European and
Asian markets and will be launched in additional regions in 2011. Additional
information may be found at www.citifxpro.com.
About Citi
Citi, the leading global financial services company, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers,
corporations, governments and institutions with a broad range of financial
products and services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and wealth
management. Additional information may be found at www.citigroup.com or
www.citi.com.
Media Contacts:
Alexander Samuelson
Tel: 1-212-816-8022
Email: [email protected]
Jeff French
Tel: +44-207-500-8304
Email: [email protected]
SignalTrader.com, the leading solution for automated trading and live trading rooms, has launched its innovative auto-execution mirror trading system for Forex, Commodities and Indices, with FXCM, Forex.com and Ava FX.
Signal Trader’s innovative auto-execution mirror system allows clients to automate their trading on Forex, Indices and Commodities, by mirroring the trades of proprietary traders, whose accounts are displayed in Signal Trader’s live trading rooms.
The auto-execution mirroring system allows clients to automatically duplicate the trades of their chosen prop traders in their brokerage accounts by executing orders based on signals generated by the prop traders.
All of the accounts displayed in Signal Trader’s live trading rooms are the real accounts of prop traders, trading with real money and as trades are executed they are displayed in real time.
In addition, clients have a full range of money management options, designed to control risk exposure. Users can fully define trading parameters, including trade sizes, as well as monitoring trades, positions and profit and loss, all in real time.
Signal Trader clients can now choose one of the selected brokerage firms, including AvaFX, Forex.com and FXCM to open their live trading accounts and begin auto-trading on the full spectrum of financial instruments, including Forex, Commodities and Indices.
“By teaming up with brokerage partners who offer our clients the ability to trade across the full range of financial instruments we are ensuring that all our clients can diversify their portfolios, while the auto-trading system allows clients to focus on their money management and trade in an objective way,” John Miller, product manager at Signal Trader said.
In addition, Signal Trader provides clients with signal alerts based on the trading activity of prop traders, via email or on the charts displayed on each live trading room.
About Signal Trader
Signal Trader’s advanced trading solutions allow users to automate their trading based on real trades executed by prop traders in their real accounts. The accounts are displayed in the Signal Trader live trading rooms in real time. Users also receive e-mailed signal alerts when positions are opened or closed.
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Signal Trader: Real Traders, Real Money, Real Time
Media Contact:
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d[email protected]
+357-240-300-86
The European common currency has been on the decline against the Switzerland franc in forex trading this week. The euro had reached its highest level since early December on Friday at the 1.3204 exchange rate before this week’s turnaround.
The EUR/CHF pair found resistance in the form of the 200-day moving average and has bounced lower off this level – also breaking through the bullish trendline – to trading currently near 1.2940 in the US session on Thursday.
The MACD indicator has just formed a bearish cross signaling a trend change and potentially more room to run. A key level to watch is the 23.6 Fibonacci retracement level (from the November 1 high to the December 30 low) at 1.2735. A break below this level could setup the pair to retest the historical lows near the 1.2400 exchange rate.
EUR/CHF Daily Forex Chart
Euro Forex News – FxNewsEurope
By Adam Hewison
This particular technical formation has been around for years and continues to produce good profits for traders who can spot it, and better yet, take advantage of it.
In this new short video, I’m going to share the market, the pattern, and a price projection where we think this market is headed based on our Trade Triangle technology.
I hope that this educational video will help you spot this very same technical formation in the future. The video is extremely short and will only take a few minutes of your time, however, the lesson is priceless.
As always our videos are free to watch and there are no registration requirements. Our only request is that you tell your friends, Tweet and Facebook about this blog posting. We would also enjoy hearing from you, so please feel free to comment on this blog about this video.
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
To see more of Adam’s videos click here or sign up for Adam’s Free 10-part Professional Trading Course.
By Anton Eljwizat
A bullish movement in Russell 2000 has pushed a number of technical indicators into the over-bought territory. As I will demonstrate below, Russell 2000 may very well be heading for a reversal, as a bearish cross has taken place on the Slow Stochastic. In addition, the Williams Percent Range indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal. Don’t forget your Stops and Limits!
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 CountingPips.com
U.S. Consumer Prices increased slightly more than unexpected in January as energy and food price rises helped push the index higher, according to a report released today by the U.S. Department of Labor. The Consumer Price Index, a key measurement of inflation, increased by 0.4 percent in January following an increase of 0.4 percent in 
December and a 0.1 percent gain in November.
Today’s data just surpassed economic forecasts that were expecting a 0.3 percent increase. Consumer prices have now shown higher levels every month since July 2010.
The annual rate of consumer prices rose by 1.6 percent when compared to January 2010 following an increase in December by 1.5 percent.
Rising energy prices were a significant contributor in the increased inflation as the report showed that the energy index rose by 2.1 percent and gasoline prices increased by 3.5 percent for the month. Food prices rose by 0.5 percent in January after a 0.1 percent increase in December.
The core inflation reading, excluding volatile food and energy prices, rose by 0.2 percent for the month and just above the market forecasts expecting a 0.1 percent gain. The annual rate of core inflation increased by 1.0 percent for January following an increase of 0.8 percent in December.
Elsewhere in US economic releases, the Philadelphia Federal Reserve manufacturing survey rose by much more than expected with a 35.9 score in February. This follows a 19.3 reading in January and surpassed the 21.0 score economic forecasts were expecting.
The US leading indicators index edged up by 0.1 percent in January following the 0.8 percent score in December. The data was just below forecasts looking for 0.2 percent.
US initial jobless claims rose back above 400,000 last week with a total of 410,000 new weekly jobless claims. This was a rise of 25,000 claims from the week prior which totaled 385,000. Continuing claims for jobless benefits were virtually unchanged from the previous week.
US Dollar on defensive in Forex Trading
The U.S. dollar has been lower cross the board in forex trading today against the other major currencies in the early going of the US trading session. The dollar has been losing ground versus the euro, Canadian dollar, British pound sterling, New Zealand dollar, Australian dollar, Swiss franc and the Japanese yen, according to currency data by Oanda.
The US stock markets, meanwhile, have had been close to unchanged to start the day with the Dow Jones falling by over 3 points, the Nasdaq decreasing by under one point and the S&P 500 showing a 1 decline point gain.
Oil has traded about unchanged at $85.06 per barrel while gold futures have risen by $5.80 to $1.380.50 per ounce.
By Anton Eljwizat
DAX 30 rose significantly in the past month and peaked at 7440 level. However, the daily chart is suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry price.
• Below is the daily chart for DAX 30 by ForexYard.
• The technical indicators used are the Slow Stochastic, MACD 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 a bearish cross, signaling that the next move may be in a downward direction.
• Point 3: The Williams Percent Range has peaked near at the 0 marker, which means that there may actually be a strong level of downward pressure.
• Point 4: The MACD indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.
DAX 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 CountingPips.com
The US dollar been on the defensive against the Swiss franc this week after reaching a swing high level late last week at the 0.9775 exchange rate. The USD/CHF currency pair has been on the decline each day this week and has fallen from 0.9729 to currently trading around 0.9530 Thursday in the US session.
Price action this month has seen February’s USD/CHF high point coincide with the 61.8 Fibonacci retracement level (on the down move from the 1.0065 level on December 1st to the low point at 0.9299 on December 31st). January’s high point or swing high at 0.9783 also encountered resistance at the same 61.8 Fibonacci resistance level before trending its way lower.
The pair trades right around its 50-day moving average in red while the MACD indicator shows a possible imminent bearish cross signal. An immediate previous support level below presents itself at 0.9525 with the 23.6 Fibonacci retracement level following below that near 0.9480.
USD/CHF Daily Chart
By GCI Forex Research
Fundamental Outlook at 0800 GMT (EDT + 0400)
USD
A lack of news flow ensured a relatively subdued Asia session, although the dollar still weakened against most of its G10 peers. EURUSD traded 1.3536-1.3609, USDJPY 83.50-83.86. Asian stocks continue to make gains, as risk appetite firmed despite further tensions in the Middle East. Earlier, the S&P 500 closed +0.63% ahead, and has now doubled since the mid-crisis intra-day low of March 2009. US data was mixed. Housing starts surprised to the upside despite bad weather, though building permits dropped as expected. Industrial production unexpectedly fell -0.1%, and PPI and core PPI both rose more than anticipated, though our US economists caution on any extrapolation as January has usually shown exaggerated swings.
The FOMC minutes showed diminishing downside risks, however, the “assessment of the most likely outcomes for economic activity and inflation over the projection period was not greatly changed.” The committee upgraded its estimate for 2011 real (inflation-adjusted) GDP growth but only modestly lowered its unemployment forecast. It also lowered its inflation forecast. Changes to the outlook may not occur quickly enough to scale back QE2 but our economists expect that the growth outlook, if realized, would be sufficient for the FOMC to allow the balance sheet to contract from H2 2011, followed by a gradual tightening cycle beginning in 2012.
EUR
German Chancellor Merkel nominated Jens Weidmann, her chief economic adviser, as the next Bundesbank president. Current Bundesbank President Weber is expected to remain in the post until April 30.
We remain negative on the euro as US growth is likely to outperform that of the Eurozone this year. We also doubt that Europe’s “comprehensive solution” due by the end of March will solve the sovereign debt crisis.
GBP
Sterling sold off after BoE Governor King talked down expectations of an early rate hike. He said that “some people are running ahead of themselves” if they think the BoE is laying the groundwork for a rate rise. He denied that the bank was endorsing the market’s expectations for future policy tightening. He also dismissed the idea that the BoE might deliver an early hike to allay public concern about inflation, adding that the MPC is “not in the business of futile gestures”.
Nevertheless, our analysts note that the BoE’s inflation forecast was revised up in the quarterly inflation report, despite a new higher path for interest rates being used (this higher path assumes the policy rate will reach 1% by year-end). Our UK economist sticks to his view that the first hike to the policy rate will come in Q3, although he acknowledges that the chances of a May hike are now “significant”. Attention will now shift to the minutes of the BoE’s Feb. 10 policy meeting, which are due for release next week.
Unemployment data was slightly disappointing; the market was predicting a decline in the jobless claims number by 3k but the number came in at +2.4k, with the claimant count rate and ILO rate unchanged.
CHF
The Swiss government announced measures to help domestic industries cope with the strong Swiss franc. However, these measures do not aim to weaken the franc itself, and the government was clear that monetary policy is the responsibility of the SNB. The franc overreacted to the news, falling one big figure against the euro and dollar before eventually recovering.
AUD
RBA Assistant Governor Lowe noted that higher commodity prices are adding to global inflationary pressures, and he sees risks to Asian growth if central banks are forced to respond to accelerating food inflation.
TECHNICAL OUTLOOK
GBPUSD 1.6186 resistance.
EURUSD NEUTRAL 1.3621 and 1.3428 mark the near-term bull and bear triggers respectively.
USDJPY BULLISH Focus is on 84.21/51 resistance zone. Support at 83.10.
GBPUSD BULLISH Recovery stalled in front of 1.6186; move above the level would expose 1.6279. Support is defined at 1.5987.
USDCHF BULLISH Pullback through 0.9575 exposes 0.9524. Initial resistance at 0.9739 ahead of 0.9776.
AUDUSD NEUTRAL Initial resistance at 1.0075, while support is defined at 0.9944.
USDCAD BEARISH The pair eyes 0.9832/20 support zone; break through this would expose 0.9712. Near-term resistance at 0.9905.
EURCHF BULLISH As long as support at 1.2973 holds, expect gains to target 1.3131 ahead of 1.3206.
EURGBP BEARISH Move below initial support 0.8356 would expose 0.8332. Near-term resistance is at 0.8450.
EURJPY BULLISH Targets 114.01/94 resistance area. Support lies at 11291.
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.
