Wednesday, April 23, 2008

Today's Forex News

Featured Forex Trading Article



Let's Talk About Forex

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So which online forex trading training course is right for you? First off, decide what your level of expertise is. If you are a beginner, then you will benefit the most from a training program that defines and explains all of the operative terms as well as introduces you to the basics of forex trading.

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During each trading day in Forex day trading, overall foreign currency trading volume is determined by what markets are open and the times each of these markets overlap one another. With each passing second, minute and hour, Forex currency trading volume remains high, but peaks highest when the British, European and U.S. markets are open at the same time - from 1 p.m. GMT to 4 p.m. GMT. The volume of the Pacific Rim markets, such as Japan and Hong Kong, subsides compared to the crest of the U.S. market, but still offer the Forex trader the ability to analyze the highly traded Pacific Rim currencies
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The real battle of bulls and bears for medium-term trend is always around 20 day MA line in Yen market. Daily option activities here and there are of no relevance as far as medium-term trend is concerned.
Yen position traders sit on their positions gunning for several hundred pips at one go. For day trades, much more nimble approach is required. As Yen position trader, please never buy anything below falling daily 20 MA and never sell anything above rising daily 20 MA, no matter how attractive they look. So start buying only when daily 20 MA starts rising, from whatever level, is not only safe but also proven way of making money although it sounds so simple. You can read how Yen traders make intraday moves by watching 30 min USD/JPY candlestick chart or line chart if you are not familiar with candle nuance. 4, 8 hourlies are for positional moves.

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Another reliable economic indicator in the foreign exchange market is the industrial production report. This report shows the fluctuation in productions in industries such as factories, and utilities. The report looks at actual production in relation to what the production capacity potential is over a period of time. When a country is producing at a maximum capacity it positively affects the Forex and is considered ideal conditions for traders.
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Forex Trading Stories

Bank of England's bank rescue plan

Mon, 21 Apr 2008 10:47:29 EDT
Read full story for latest details.




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