A decline from 2008 peak into 2009 low was in five waves, which in Elliott Wave theory indicates a direction of a larger trend. This is called an impulse wave, and once this leg is complete you will see a reversal in price, against the trend, normally into a slow, choppy and overlapping price action … “Cable: Bearish Scenario For 2012 (Elliott Wave)”
Month: January 2012
Archer International Consultants Introduces Corporate Solutions For Start Up
Archer International Consultants announces a product for start up forex brokers. The company specializes in forex company formations, opening of bank accounts and more. It now enables an easier way to open companies in various countries, and with different regulations. For more details, see the press release below: Archer International Consultants Launches Supreme Corporate Solutions … “Archer International Consultants Introduces Corporate Solutions For Start Up”
US Dollar Mostly Lower as Risk Appetite Makes an Appearance
Risk appetite is making an appearance as investors show optimism through higher stocks. As a result, the US dollar is mostly lower against other majors today. Greenback is lower against the euro, pound and yen today. Even though the US dollar is mostly lower in Forex trading today, the difference isn’t terribly large at this point. Indeed, for the most part, major currencies have been rangebound. Even though … “US Dollar Mostly Lower as Risk Appetite Makes an Appearance”
Europe Lifts Ringgit
The Malaysian ringgit gained today as risk appetite, spurred by positive sentiment about Europe, outweighed the negative economic report from Malaysia itself. Malaysian factory production demonstrated the lowest growth in four months in November. The negative data hasn’t deterred traders as currently positive mood prevails on markets, at least until the outcome of meetings between the leaders of the European Union and the head of the International Monetary Fund will become clear. The MSCI Asia-Pacific Index … “Europe Lifts Ringgit”
Euro Manages to Hold On to Gains — For Now
Euro is managing to hold on to some of its gains for now. Euro saw some small success against the US dollar yesterday, and is working to keep those gains today. For now, the euro is receiving some help from European leaders, but Forex traders will need to get on board if the euro is expected to see any real advances anytime soon. Euro’s current gains come ahead of a meeting … “Euro Manages to Hold On to Gains — For Now”
JPY Drops vs. EUR
The Japanese yen dropped today against the euro as Germany’s leader meets the head of the International Monetary Fund to discuss the ongoing issues of the European Union and possible ways to resolve the credit problems. Angela Merkel, German Chancellor, meets Christine Lagarde, Managing Director of the IMF, in Berlin today. Merkel explained that Greece will be the main theme of the discussion. Analysts said that short-covering made the euro strong against other currencies, particularly … “JPY Drops vs. EUR”
GBP/USD Trading the British Trade Balance
The British Trade Balance indicator, published monthly, focuses on the difference in value between exported and imported goods. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Wednesday at 9:30 GMT. Indicator Background Traders should pay close … “GBP/USD Trading the British Trade Balance”
Franc Gains After Hildebrand Resigns
The Swiss franc climbed today after Philipp Hildebrand, Chairman of the Swiss Nation Bank, resigned from his post after currency trades of his wife compromised his credibility as a central bank’s chief. Transactions of Hildebrand‘s wife on the foreign-currency exchange market led public to believe that Chairman’s family used an inside information for profit. Hildebrand said he hasn’t known about the activity of his wife. He disclosed the private financial … “Franc Gains After Hildebrand Resigns”
Pound Retreats Against Euro, Higher vs. Dollar & Yen
The Great Britain pound ticked down against the euro after the leaders of Germany and France have met today in order to find a way out of the dangerous situation with the European debt. The UK currency was higher versus the US dollar and the Japanese yen. German Chancellor Angela Merkel and French President Nicolas Sarkozy were meeting today in Berlin to discuss steps to improve the financial situation in the European Union and to foster better fiscal consolidation … “Pound Retreats Against Euro, Higher vs. Dollar & Yen”
US Dollar Edges Lower Against Other Majors
US dollar is edging lower against other major currencies today. Losses aren’t too big, though, since there is still a great deal of uncertainty in the markets right now. A meeting between Nicolas Sarkozy and Angela Merkel is said to have made “progress” toward a euro agreement, but no major announcements were made. Meanwhile, better news it the United States lately has been giving … “US Dollar Edges Lower Against Other Majors”