Provided by: Real-Forex
USD/CAD

Daily graph: http://www.real-forex.com/charts-daily/011110/CAD_DAILY_011110.JPG

The last 9 sessions shows a clear navigation of the pair. It is very simple to detect the difficulties of the pair the cross the support 1.0180.

In yesterday’s session, a vain breach occurred, indicating a future increase until the upper level of the navigation, creating the opportunity to go “Long” . An increasing configuration on one-hour graph should confirm that new trend.

Potential trade

One-Hour graph: http://www.real-forex.com/charts-daily/011110/CAD_1H_011110.JPG

The required configuration should appear once the 1H resistance  of 1.0205 will be crossed upward. If it does, it could be better to catch the opportunity in the following way:

• “Limit” order on “Long” position 10 pips above the resistance (1H r.) mentioned earlier, meaning:  1.0215.
• “Stop Loss” on the last low occurred, which is: 1.0168.
• “Take Profit” on the following resistance which is 1.0247.

AUD/USD

Daily graph: http://www.real-forex.com/charts-daily/011110/AUD_DAILY_011110.JPG

The actual navigation between 0.9973 (resistance) and 0.9661 (support) started about 3 weeks ago is not expected to stop. The pair is currently on his way to the upper level of the channel of navigation.

The way it will behave once the resistance reached will determine the best attitude as well as the adapted transaction. There are two possible outcomes:

1. A vain breach on the resistance occurs. This is an indicator of reversing trend, meaning a future downtrend until the lower level of the navigation. An adapted transaction would be to go “Short” with the trend.
2. The resistance is crossed and broken upward. In this case the current uptrend is expected to keep its current movement. We suggest waiting for a technical correction before going “Long”. This technical correction would confirm the new movement.

Keep following.

Have a profitable week!

Real-Forex team

Real-Forex team

By James McKee

A lot of people tend to think of those involved in the financial sector as greedy or heartless people who do not care about anything but profit. This was once even an opinion that I had held until a couple years ago when I took an interest in Forex and sought out the tools and knowledge I needed to be a successful trader. I was afraid of being treated badly or even ridiculed for not having a college education in finance and was scared to ask others for help. What I found waiting for me in the Forex trading community was therefore a complete surprise, and a welcomed one.

Every trader I have come into contact with on either forums or other areas of conversation has always gone out of their way to share techniques and strategies with me to increase profits. This is not the way I had perceived Wall Street and the like and was genuinely surprised to discover large numbers of people openly sharing their experience with me. The Forex Currency Exchange can be an ominous and intimidating place without the proper knowledge and the potential to lose a lot of money is always there, having people in the same boat as you are giving sound advice is in a word “invaluable”.

You will not find this type of cooperation in other professional fields and the quality of the education is as good as you will find in any university with regard to its applicability in the market. Truly the opportunities both in terms of financial gain and in terms of camaraderie are tremendous in the Forex market. When approaching any financial investment the amount of apprehension involved can be immense, having other people there to support you is very helpful when deciding what course of action to take.

When approached responsibly Forex can be a liberating aspect of your portfolio and perhaps even define it. Achieving this level of proficiency is not easy however and you must be dedicated to your own success because no one will carry you. By helping yourself and then in turn sharing information you know with others who do not you are contributing to one of the most friendly and profitable communities available today. So do not be shy, if you have a question ask and someone out there will be more than happy to help you!

About the Author

Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the forex exchange rates regularly.

By CountingPips.com

Important Economic News Releases – November 1, 2010

• Australia house price index Third quarter
• China PMI manufacturing October
• China HSBC manufacturing PMI October
• Australia RBA commodity price index October
• Switzerland purchasing managers index October
• Germany purchasing managers index October
• United Kingdom purchasing managers index October
• United States personal consumption expenditure September
• United States personal income September
• United States ISM manufacturing index October
• New Zealand average hourly earnings third quarter

See full Calendar here

By Daniel Shaw – For a long time only big investors and banks had an access to the international Forex market. With the development of the internet everything changed and today any investor is able to make transactions in Forex market in the internet. Forex software is a necessary tool for the analysis of the Forex market rates and the connection between a trade and an online brokerage company. Despite of the variety of programs and software in the Forex market, there is a number of applications familiar to almost every currency trader and become an integral part of online Forex trading. In this article we will discuss the necessity and functionality of some of the Forex programs.

Forex software can be roughly classified into so-called trading platforms and programs for markets analysis. The difference between them is that the trading platform helps the traders perform the transactions of buy or sale of a foreign currency from the application;s interface, while programs for markets analysis can only analyze data without any possibility of communication with a broker and making transactions. Almost all programs allow you to download not only the historical quotes of the currencies but also the real-time quotes.

One of the most important features of Forex software is that they allow you to work not only with the foreign currencies but also any other traded instruments such as futures, stocks, CFDs, indices and others. The point is that the indicators of technical analysis used for Forex may with same efficiency work for other financial markets. More than that many indicators we use today were originally developed for trading in futures or stocks, and only later were used for Forex. Most Forex programs are universal and built on a general principle. Therefore, once you study one Forex program, you can easily learn the others as well and apply them other financial markets.

Every trader must have a trading platform. Weather it is a downloadable or web software you cannot trade without it. The platform is represented by a broker who provides the traders with all needed data via the trading terminal. There are tens of different trading platforms that you can find online. All of them allow the traders execute the transactions of buy or sell and manage their funds. One of the most popular Forex software today is the trading platform Meta Trader 4 (MT4). Most of the Singapore brokers work with MT4 trading software, though you can also find such platforms as ACT, eToro and others available for trading.

Though every broker may apply different trading conditions on his Meta Trader platform, still there are specific features that can be found in MT4. This trading terminal allows trading with different instruments link Forex, commodities, Futures, Indices, etc. It offers a big variety of technical analysis tools and indicators that help a trader in his work. Besides it is possible to install your own software of indicators to the MT4 and automate your trading. MT4 trading platform allows you to build an unlimited number of graphics with different time frames, receive financial news from your broker and has an internal e-mail. In addition to the PC version, the MT4 has a terminal for mobile devices.

About the Author

Daniel Shaw is an experienced Forex trader and a webmaster. His site Trading Platforms Singapore will teach you different trading strategies and provide you with the latest updates about Singapore online brokerage.

USDCHF has formed a cycle top at 0.9928 level on 4-hour chart. Another fall towards the lower border of the channel is still possible later today, a clear break below the channel support will indicate that the upward movement from 0,9463 has completed, then deeper decline could be seen to 0.9600 zone. However, a break above 0.9928 will indicate that the uptrend from 0.9463 has resumed, then another rise to 1.0000 could be seen.

Daily Forex Forecast

By Justin Thomas

The Euro benefits customers within the European Union but limits the power to act of the governments in the Eurozone

The adoption of the single European currency in late 1999 had a mixed effect on currency transfer operations and the overall economic performance of the European Union (EU). It lowered some costs but spurred doubts about the ability of national governments to control financial markets in times of crisis. Doubts notwithstanding, the euro has already become a major world reserve currency and is bound to grow even stronger if it manages to replace the U.S. dollar as the oil trading currency.

Speaking about currency transfer operations within the EU, one must admit that the introduction of the single currency benefited individual and business clients because it brought the costs of currency conversion across the continent to naught, thus downsizing the cost of currency transfers. However, the adoption of the euro in the Eurozone resulted in a single monetary policy determined by the European Central Bank, which left little room for national governments to manoeuvre in times of trouble. Moreover, different levels of inflation and unemployment levels within the Eurozone and the EU as a whole were among the factors that have recently been fanning the fire of financial troubles in Europe.

Obviously, euro adoption was a factor to strengthen European financial markets in terms of liquidity because businesses and governments have more sources of funding and are not limited by local currency barriers to borrowing money and gave fresh start to European financial markets.

After its introduction in late 1999 the euro started to depreciate against the dollar and following a series of volatile moves in May 2009 it slid to an exchange rate tantamount to its initial trading value. Meanwhile, individual and institutional brokers around the world managed to heavily profit on these currency fluctuations, and transfers entailing conversion from one currency to another was a matter of survival for some companies. Later, the euro continued to gain against the U.S. currency but the recent recovery of the American economy helped the dollar restore its positions and now it is evident that it finally lost its leading role as the world”??s reserve currency.

Many countries already switched to the euro as a reserve currency and even the oil-rich countries of OPEC are considering options to start trading oil in euro. Such a move will most likely initially shake the financial markets because many currency transfers denominated so far in U.S. dollars will be lastingly switching to the euro.

Euro adoption has its disadvantages, too. The major one is that at present national governments within the Eurozone can only rely on fiscal policy and public investment to adjust economic policy to the needs of specific regions and countries. In times of financial crisis and dangerously high budget deficits across Europe, countries like the United Kingdom, which is not a member of the Eurozone, have more room to act and manipulate the exchange rate of the pound to achieve better economic results. The Bank of England can take measures to devalue the British currency and ease access to cheaper credits, while countries like Greece, which belongs to the Eurozone, is not allowed to do so. On the other hand, positive effects outweigh negatives and most financial analysts are of opinion that the euro has a bright future ahead of it.

This week is expected to be heavy with economic news and traders will want to stay tuned with the rumblings taking place in the US and Japan over further currency interventions. Early this morning, the currencies from both countries experienced a rapid spike which quickly receded.

Some speculations have hinted at an intervention by the Bank of Japan (BOJ), but as of this morning no confirmations have been given. Traders will definitely want to keep an eye on what transpired during the Asian market hours, but may also wish to follow today’s leading events.

9:30 GMT: GBP – Manufacturing PMI

Britain’s Manufacturing Purchasing Manager’s Index (PMI) is a leading indicator of economic health based on business conditions as seen from the perspective of purchasing managers. If this figure comes in line with expectations, or higher, the pound may experience some modest bullishness, continuing with its latest trend.

14:00 GMT: USD – ISM Manufacturing PMI

Similar to Britain’s PMI figures, the US Institute of Supply Management (ISM) will be surveying American purchasing managers to gauge business conditions in the US. As with the British PMI data, if the American counterpart’s figures come in line or above expectations, the USD may pare some of its recent losses, but long term pressure will likely remain constant without a significant difference.

By Andrew Daigle – The recent boom in activity on the forex market is attributed to the large sums of money made by astute traders, very quickly. Fast money often attracts plenty of erratic forex traders, and wreaks havoc on the market until they’ve lost their investment. If you decide that you want to trade in the foreign exchange market, make it your business to learn the information that will help you make the most profitable decisions. There are forex trading strategies that you can use, and forex indicators that will assist you, but nothing is a substitute for good old-fashioned knowledge.

Above all else, you will need to be familiar with the different currencies with which you’ll be dealing. There are too many currencies being traded on the foreign exchange market for you to simply click on one and hope for the best. If you’re just starting out trading foreign currency, it’s best to stick with popular currencies such as the U.S. dollar (USD), the euro (EUR), Great British pound (GBP), Japanese Yen (JPY), or the Swiss Franc (CHF). Exotic currencies from less popular countries are also an option, but you’ll have to improve your education to become knowledgeable about them because they are traded in very small volume and offer few profits.

In addition to familiarizing yourself with the currency, you need to understand more about their pairings. On the currency exchange market you will be trading one currency for another, so it’s imperative to know information such as the conversion rates from some of the most popular pairings. Some of the most popular pairings are; USD/EUR, GBP/USD, and EUR/JPY. When you have a better understanding of the intricacies of the foreign exchange market, you will find trading foreign currency much easier.

Next, a successful trader is familiar with other factors that may have an impact on how a particular currency will do on the market. There are two important types of analysis that every currency trader must do before making a decision; fundamental analysis and technical analysis.

Before you make any investment into the foreign currency exchange, you’ll want to continue your forex education at the library or in the newspaper. Knowing the environmental factors affecting a particular currency can greatly impact how much and if you invest in a specific currency. Events such as political assassinations, natural disasters, and economic meltdowns can all affect how markets are impacted. These events will also affect how long a trend will last, making it vital that you keep up with word events as you trade on the currency market.

Just as important as the fundamental factors are to your forex education, so too are the technical factors. You will use forex indicators and trendlines to study past trends and determine how they are likely to move in the future. When combined with the fundamental factors, the technical analysis of the foreign exchange market can greatly improve the accuracy of any forex trading strategy. The technical analysis will be confirmed by other forex indicators, and combined with an understanding of the fundamentals, will give you the clearest possible picture of where the market is heading. When you know your business through and through, trading foreign currency becomes a fun and easy way to make money.

About the Author

Andrew Daigle owns many successful websites including ForexBoost , a free Forex educational site to learn Forex trading strategies and partners with FX Instructor for live forex trading sessions and professional educational services.

By Pro Indicators

An expert advisor (EA) main function is to buy or sell currencies at a signal point in time based on a set of forex trading signals generated by forex indicators. This main problem that it overcomes is related to psychological behavior of traders. The program is a kind of “assistant” which traders automatically without your interference. It do not have indicators present, instead it is based on dependencies. These psychological behaviors can be harmful for the traders and that is what these systems try to help avoid.

The Expert Advisor does not consider any human feeling or emotions such as fear, greed, and other related things while making decisions on trade and that is where traders find it most useful. Expert advisor is built using MQL4 language. The way these program help traders is that it does all the work that is tiresome and repetitive and does the trading automatically without the interference of the trader. All the trader has to do is keep the program switched on.

Most of the traders use the metatrader4 platform and that is why this program is specifically built to trade on metatrader4 platform. They can perform all there activities on it without any financial cost. Forex traders have realized that the best way to increase their investment is by the use of platforms such as metatrader4. The foreign exchange market and equity market trading is risky and if you don’t have an automated system and tools to work with, then you are bound to loose. There are not many traders in the market who have developed their own investment strategies. The changes in market are taking place rapidly and if you are not making the use of automated systems, then you are bound to find it difficult.

Individuals based on their own strategies and goals can use Metatrader EA. A trader can increase its revenue by doing trading on metatrader4 platform through the use of metatrader ea. Also metatrader EA is designed differently for different situations. Some are designed to stay in the market for long intervals of time and some for short period of time. Technical indicators and trading indicators are designed by metatrader ea to make best trading decisions. One major benefit that this program provides is that it automatically opens and closes trades based on the market conditions. It takes into account the fluctuations that are taking place in the market with respect to price before automatically doing the required work.

Metatrader EA has different purposes and they are made for different kinds of work. For example News Expert Advisor is used specifically to take full advantage of large prices shifts and also the news events that occur during the night. However, in order to make correct decision from the use of Metatrader EA you need to compare strategy tester reports. Strategy tester report or advisor back test is the test that metatrader ea does on historical data. Historical data modeling is used for the entire tests that are done through with Metatrader 4 built-in strategy tester.

About the Author

ProIndicators.com is providing high precision TradeStation. Metatrader EA has different purposes and they are made for different kinds of work.

By Daniel Shaw

There are plenty of different Forex books and ebooks online that teach new traders how to trade using the levels of Fibonacci, Elliot Wave, etc. Of course these materials are very good for any new Singapore trader, but the problem is that the authors of these books give 100% guarantee that if you listen to them, you will make profit.

Alas, the reality is not so simple and to justify himself in the loss, a trader begins frantically recall all his steps and decisions in order to make sure there is a reason of his mistake and loss. Someone may has forgotten to take into account a very important indicator while opening a trading positions, another one had miscalculated the Fibonacci levels – and now such traders are making a sad conclusion: “No, the currency market is not for me… And of course everyone who thinks this way is wrong, as Forex has many strategies and some of them are very simple like trading with reverse orders that can give you more than 500 pips monthly.

The advantage of working with a reverse orders strategy is that you have a good chance to catch the market disregarding of its direction. I believe many of you have faced a problem when you predict the direction of the market and open a trading positions. But the market goes against you and your position is closed by stop loss order with a loss. And after that the market changes and goes your direction again. How disappointed we are when it happens.

In order to reduce the chances of losses in such situation a strategy of reverse orders was invented. It is a very simple trading strategy and every newbie trader may apply it. What you need to do is when you open a position on Buy instead of stop-loss level after 25 points you open a position for Sell. The same you do for a position for Sell, you secure it with a position for Buy. The point is that you don’t use a stop loss and if the market goes against you, you will still remain in the market.

By using this strategy you have a chance to correct your trading position any time disregarding of the market’s direction. The correction works the following way. If one of the orders shows the profit of 10 points you should open another order in this direction. This strategy will allow you to minimize the losses. When you have three orders (two sell and one buy) where in overall you are in profit you can start closing the profitable positions if you see that the market turns and takes another direction. Trading this way lets you open many positions and you can also use high leverage for it.

Remember that working on Forex with the strategy of reverse orders you need to open Buy positions when the trend is at the lower level and Sell when it is on the top. We wish you good luck trading with such a simple and effective strategy.

About the Author

Daniel Shaw has many years of experience in online Forex trading. Visit his site Trading in Singapore to learn more about Singapore Trading.