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The Forex Market
The Forex market is an incredible market to trade currencies. Forex stands for foreign exchange and the Forex market is the largest financial market in the world. The Forex market trades close to 2 trillion dollars each day and since there is no center for the market, continues 24 hours a day starting from Sydney, Australia, which are home to one the major currencies.Many people trade in the Forex market due to the fact that it is a great way for day traders to profit on investments that they make each day. Another big plus is that the technology has advanced, so that almost anyone can trade Forex from the privacy of their own home.
The Forex market usually trades many global currencies, however many Forex market traders usually stick to the majors which include the US dollar, Euro, Japanese Yen, Swiss Franc, Australian Dollar, British Pound and Canadian Dollar. While other currencies are traded on the Forex market, these major currencies make up an overwhelming chunk of the Forex market.
Almost anyone from anywhere can trade Forex. If you are just starting out and would love to trade in the Forex market, you can find many courses and tutorials that can help get you started in no time. Many trading sites have sprung up and offer you to trade on their sites. They offer real time quotes, great data and charts, background information and an easy platform to trade in the Forex market. So if you are interested in a new way to invest, look into the Forex market.
Recent Forex News
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
FX Technical Commentary
Euro 1.4750 Initial support at 1.4634 (Aug 27 low) followed by 1.4571 (Feb 26 reaction low). Initial resistance is now located 1.4777 (Aug 27 high) at followed by 1.4808 (Aug 25 high).
Daily Forex Market Commentary
The proximity of Labor Day weekend surely doesn’t make things easier in the currency markets. Nor did the half-baked measures at Fannie Mae. The dollar closed slightly lower against the euro and franc on Wednesday, but basically flat versus the pound and yen. However, trading was quite volatile. The dollar...
Usd/Jpy The Yen, Oh The Poor Neglected Yen
This pair has really done very little in the past seven days, losing its momentum and trend it seems. Traders can use the Fibonacci levels shown here to gauge intermediate support and resistance. The pair has also been having quite a few run-ins with its 20 day SMA. Daily volume...
Chart Of The Day: USD/CAD
Long-term price action on USD/CAD (a daily chart of which is shown) has come down decisively off the significant downtrend line (in red) that has served as resistance for at least 5 years. After retreating from this resistance line last week, price has gradually descended from the swing high. Going...
$/Swiss, Time to Short is Close.....
$/swiss is chopping from yesterday's 6 month high at 1.1085, but there lots of negatives emerging. They include a quick turn lower from yesterday's high (no follow through), a test of longer term resistance at yesterday's high (see longer term below), a market that's overbought after the sharp gains since...
Newsfeed display by CaRP
Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Oil Threatening Dollar Gains
U.S. Dollar Trading (USD) was on the backfoot early in the day as commodities found strength and recent dollar gains were pared back. US Durable Good Orders were significantly higher than expected in July coming at 1.3% (.1% expected) putting the Dollar bulls back in control. Oil surged higher a...
Forex Exchange Morning Report
Hawkish ECB commentary knocked USD lower in London before the dollar was rescued by a stronger than expected read on US July durable goods orders, which saw DXY gain as much as 0.7% from its lows before cooling slightly in late NY. DGOs rose firmly in July plus June was...
Hawkish ECB Talk Helps Euro
The dollar traded mixed Wednesday after US durable-goods orders unexpectedly advanced in July and oil prices rose for a third day as Tropical Storm Gustav is moving toward production platforms in the Gulf of Mexico. The yen was little changed despite higher US stock prices. The euro rose on hawkish...
Be Prepared! US Preliminary GDP Tomorrow At 12:30 GMT
Expectations for this quarter reveal that the preliminary U.S. GDP figures will probably rise from 1.9% on the 'Advance' publication to 2.6% on the 'Preliminary'. Previous surveys have shown that publications that go inline with market forecasts tend to support the Dollar, they have also shown that in cases...
New York Session Recap
Better than expected US economic data helped offset higher oil prices in the NY session and boosted the greenback higher against the majors. Oil jumped towards a close near $118.35 after opening the session about $1 below that. Hurricane Gustav has traders everywhere wearing their meteorologist hats and we expect...
Newsfeed display by CaRP
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
FX Technical Commentary
Euro 1.4750 Initial support at 1.4634 (Aug 27 low) followed by 1.4571 (Feb 26 reaction low). Initial resistance is now located 1.4777 (Aug 27 high) at followed by 1.4808 (Aug 25 high).
Daily Forex Market Commentary
The proximity of Labor Day weekend surely doesn’t make things easier in the currency markets. Nor did the half-baked measures at Fannie Mae. The dollar closed slightly lower against the euro and franc on Wednesday, but basically flat versus the pound and yen. However, trading was quite volatile. The dollar...
Usd/Jpy The Yen, Oh The Poor Neglected Yen
This pair has really done very little in the past seven days, losing its momentum and trend it seems. Traders can use the Fibonacci levels shown here to gauge intermediate support and resistance. The pair has also been having quite a few run-ins with its 20 day SMA. Daily volume...
Chart Of The Day: USD/CAD
Long-term price action on USD/CAD (a daily chart of which is shown) has come down decisively off the significant downtrend line (in red) that has served as resistance for at least 5 years. After retreating from this resistance line last week, price has gradually descended from the swing high. Going...
$/Swiss, Time to Short is Close.....
$/swiss is chopping from yesterday's 6 month high at 1.1085, but there lots of negatives emerging. They include a quick turn lower from yesterday's high (no follow through), a test of longer term resistance at yesterday's high (see longer term below), a market that's overbought after the sharp gains since...
Newsfeed display by CaRP
Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Oil Threatening Dollar Gains
U.S. Dollar Trading (USD) was on the backfoot early in the day as commodities found strength and recent dollar gains were pared back. US Durable Good Orders were significantly higher than expected in July coming at 1.3% (.1% expected) putting the Dollar bulls back in control. Oil surged higher a...
Forex Exchange Morning Report
Hawkish ECB commentary knocked USD lower in London before the dollar was rescued by a stronger than expected read on US July durable goods orders, which saw DXY gain as much as 0.7% from its lows before cooling slightly in late NY. DGOs rose firmly in July plus June was...
Hawkish ECB Talk Helps Euro
The dollar traded mixed Wednesday after US durable-goods orders unexpectedly advanced in July and oil prices rose for a third day as Tropical Storm Gustav is moving toward production platforms in the Gulf of Mexico. The yen was little changed despite higher US stock prices. The euro rose on hawkish...
Be Prepared! US Preliminary GDP Tomorrow At 12:30 GMT
Expectations for this quarter reveal that the preliminary U.S. GDP figures will probably rise from 1.9% on the 'Advance' publication to 2.6% on the 'Preliminary'. Previous surveys have shown that publications that go inline with market forecasts tend to support the Dollar, they have also shown that in cases...
New York Session Recap
Better than expected US economic data helped offset higher oil prices in the NY session and boosted the greenback higher against the majors. Oil jumped towards a close near $118.35 after opening the session about $1 below that. Hurricane Gustav has traders everywhere wearing their meteorologist hats and we expect...
Newsfeed display by CaRP