AUDUSD breaks below 1.0596 key support and reaches as low as 1.0507, suggesting that the uptrend form 0.9861 (Dec 15, 2011 low) has completed at 1.0855 already. Further decline is expected after a minor consolidation, and next target would be at 1.0450. Resistance is at 1.0600, as long as this level holds, the downtrend from 1.0855 will continue.
AUDUSD had formed a cycle top at 1.0855 on 4-hour chart. Further decline to test 1.0596 key support would likely be seen, a breakdown below this level will indicate that the longer term uptrend from 0.9861 had completed, then the following downward movement could bring price to 0.9500 area. Resistance is at 1.0855, only break above this level could trigger another rise towards 1.1080 previous high.
AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0596, the fall from 1.0855 is treated as consolidation of the uptrend. As long as the trend line support holds, uptrend could be expected to resume, and one more rise towards 1.1080 previous high is still possible. Support is at 1.0714, a breakdown below this level will indicate that the rise from 1.0596 is complete, then deeper decline to test 1.0596 key support could be seen.
Source: ForexYard
The early afternoon release of Canada’s GDP data revealed an economy in modest stability. The release of a nation’s gross domestic product report is a strong indicator of that nation’s economic health and well-being. Today’s release revealed to investors that Canada’s economy is stronger than previously assumed.
The forecasts for today’s numbers were for a mildly sluggish publication of 0.2%, below last quarter’s 0.3% growth. The actual reading of 0.3% has given traders cause to look over their numbers once again and revalue their Canadian dollar (CAD) positions. Look to the CAD making decently bullish moves throughout the week as one result of today’s numbers.
Read more forex trading news on our forex blog.
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.
Source: ForexYard
This morning’s early publication of Japanese housing starts portrayed a capital economy in deep contraction heading into the end of 2011. Housing starts are an indicator of the number of private homes starting construction, making it an early gauge of domestic capital investment and early consumer spending and optimism.
The indicator was expected to show a modest uptick of approximately 8.3% this month. The shocking 10.8% contraction in housing starts has riled several large investors. The Japanese yen (JPY) was trading with mixed results as a consequence and some are wondering what impact this will have on yen values as the year comes to a close.
Read more forex trading news on our forex blog.
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.
Source: ForexYard
The euro zone continues to struggle with economic data heading into the fourth quarter of 2011. This morning’s publication of Germany’s retail sales revealed even more sluggish growth in the region’s largest economy.
The report was expected to show a healthy month-on-month growth of 1.1%, a solid uptick from last month’s 2.7% contraction. The actual reading, while far better than last month’s, was still shy of the mark with only 0.4% growth being reported. The impact has been a mild downward tug on the EUR since the data’s release.
Read more forex trading news on our forex blog.
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.
Source: ForexYard
This morning’s publication of Switzerland’s KOF Economic Barometer revealed an economic outlook that has dipped somewhat since last month’s reading. A combination of economic indicators is now portraying economic conditions slightly more pessimistically than before.
The measure only fell by approximately 0.2 points from 1.00 to 0.80, a measure that still falls within optimist territory, but only slightly. The Swiss economy has fared relatively well over the last several years, only recently falling from a gouging effect brought on by an artificially strong currency.
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.
Source: ForexYard
To stay ahead of the competition, a business has to be willing and able to offer what no other company can. FOREXYARD is such a company. We decreased spreads among some of the more exotic currency pairs, as well as the oft-traded USD/JPY which accounts for approximately 20% of all trading volume world wide!
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Spread reductions for Standard/Pro Account holders:
Spread reductions for SuperMini Account holders:
If you’re unsatisfied with your current broker, come join FOREXYARD and enjoy tighter spreads, a more dynamic trading system, and flexible margins.
Additionally, FOREXYARD continues to give some of the most competitive promotional offers for all of its clients: beginners, veterans, and everyone in between! Contact us now to find out more.
Come join FOREXYARD’s skilled trading team today and grab the market by the horns!
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.
Source: ForexYard
Since its formation, FOREXYARD has utilized the experience of professional Forex traders, as well as internet- and financial-sector specialists in order to successfully establish itself as one of the premier online brokerages operating in today’s market. We offer a secure, dynamic trading platform which provides superior order execution, advanced reporting and analytical tools, yet remains intuitive and user-friendly.
FOREXYARD caters to a wide range of traders from around the world, placing equal importance on first-time traders as it does on experienced professionals. We firmly believe in the value of building a relationship with each and every client in order to better understand their needs. FOREXYARD has made every effort to ensure that all account activities not directly related to trading, such as deposits and withdrawals, are carried out with the greatest of ease and transparency, allowing you to get on with the task at hand: trading successfully!
FOREXYARD recognizes the inherent value of up-to-date and relevant information; therefore, we employ experienced analysts to provide you with accurate research and analysis, updated on a daily basis. Our analysis reports, which you will receive via e-mail every morning on market days, are featured on a number of influential websites and forums.
When trading online with FOREXYARD you will receive the following:
Instant Depositing with Credit Card
FOREXYARD allows you to fund your account with your credit card, so you can start trading immediately. We care about protecting your credit card security as well as protecting your privacy to the highest standards. To achieve this, we use the latest technologies and comply with all relevant regulations.
The Ability to Start Trading in Minutes
With FOREXYARD you can open an account and start trading in minutes. By choosing our JAVA-based trading platform you will not have to download any software and you can choose to fund your account via your credit card (depositing the margin required for the trading). Please note that due to security measures the scope of deals on the first week of new users trading with FOREXYARD is limited. Such restriction will be removed making phone contact with our team.
We offer clients a fixed dealing spread of 3 pips on EUR/USD and 3-5 pips on most of the other major currency pairs. We will not widen spreads under any market conditions – including during major economic news releases. Other brokers claim to offer 3 pip spreads yet routinely widen the spreads up to 10 pips or more during fast moving markets, or thinly traded markets such as the Asian trading session.
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Tight spreads are meaningless if you can’t get filled at your price. This is a very subtle but critical point. The FX bid/ask prices you will see at FOREXYARD are not simply vague indications of where the market is trading that mysteriously vanish when you place an order. Rather, these are executable quotes – just click the current bid or offer, and the trade is immediately yours at that price. Other brokers honor their prices only when the trader is wrong, and almost never when prices are moving in your favor.
When you trade currencies through FOREXYARD, your market orders are typically filled instantly, with no partial fills, and no discrepancy between the quoted price and the execution price. Stop orders are also ordinarily executed without slippage. Many traders accept slippage as one of the realities of Forex trading. It doesn’t have to be this way! Just a few pips now and then will add up quickly and eat into your trading profits.
You’ll never have to face a debit balance (negative balance) when you trade FX with us. If your equity falls below your margin requirement, our FX Trading Station will automatically close out your positions – think of this as a final stop order, always working for your protection! Our margin policy eliminates concerns about debit balances by guaranteeing that your risk is limited to only those funds you have deposited into your account.
Unparalleled 24-hour Trader Support
The services offered by FOREXYARD include a dedicated, 24-hour Trader Support Center where you can receive technical help and market advice throughout the trading week (Mon-Fri). You will always be able to reach an experienced support person with a background in trading. Most brokers claim to provide 24-hour support, but actually only run a skeleton crew that is unable to resolve major problems outside regular business hours. This is not the case at FOREXYARD: give us a call today and see for yourself.
Superior Educational Materials
We firmly believe in the benefits of education as a means to improving trading ability, and so through this site we offer clients a wide variety of trading courses.
All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinarily volatile market conditions. All quotes and trades are subject to the terms and conditions of the Client Agreement accessible through this website.
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.
