USDCHF: Our broader outlook on USDCHF remains lower. The pair is now seen challenging the 0.8897 level, its 2011 low where a decisive break will resume its long term downtrend. Guest post by www.fxtechstrategy.com This will set the stage for more weakness towards its psycho level at the 0.8800 level with scope for further price extension … “USDCHF: Set To Resume Long Term Downtrend”
Author: admin_mm
CitiFX Pro Named “Best Retail Platform” For Margin FX
Forex broker CitiFX Pro won the Best Retail Platform for Margin FX Trading award from Profit & Loss, a British magazine the focuses on derivatives and currencies. This is the second year in a row that CitiFX wins this prize. Previous news about CitiFX: CitiFX Pro Trading Platform Launched in the UK CitiFX Announces More Competitive … “CitiFX Pro Named “Best Retail Platform” For Margin FX”
Dollar Falls on Forecast Fed Lag Behind ECB
The US dollar fell against most major currencies today on the speculation that the Federal Reserve will lag behind the European Central Bank in increasing its borrowing costs as the US economy isn’t recovering fast enough to warrant higher rates. Today’s macroeconomic reports supported such outlook. The unemployment claims in the US rose from 385,000 to 412,000 last week, while they were expected to drop to 379,000. The Producer Price Index … “Dollar Falls on Forecast Fed Lag Behind ECB”
EUR/USD Falls on Debt Concerns
The euro fell versus the US dollar today on concerns that Greece and other indebted nation of the European Union will be required to restructure their debt. The currency pair somewhat recovered after the economic reports from the US were worse than predicted. Germany’s Finance Minister Wolfgang Schaeuble said that Greece may be required to restructure its debt if the audit in June would show the nation’s inability to repay … “EUR/USD Falls on Debt Concerns”
Is the CFTC Actually Helping Traders?
The new CFTC rules regarding forex imposed leverage limits that angered many traders. Nobody likes to be held back. But after 6 months, there’s evidence that these limits might actually be helping traders make more money. On October 18th, the new leverage limits came into effect: 50:1 on major pairs and 20:1 on others. This … “Is the CFTC Actually Helping Traders?”
Currensee Raises $4M in Series C Financing
Forex social network Currensee gets $4 million. The fresh funds will go towards developing new tools for decision making, portfolio management, infrastructure and more. This is Round C of financing. The previous round was made for the development of the Trade Leaders program and for expansion outside the US. In the past year or so, … “Currensee Raises $4M in Series C Financing”
Cable targeting 1.6500
Cable reversed early this week from 1.64 resistance level after a nice clear five sub-waves within an extended wave 3. As such, a wave 4 pull-back occurred, which in fact already appears complete around 1.6200 support from where pair bounced back above 1.6320 uptrend confirmation level. Guest post by Gregor Horvat Notice that wave 4 … “Cable targeting 1.6500”
Australia’s Dollar Falls on Asia’s Stocks & Europe’s Problems
The Australian dollar slipped today against most major currencies on concerns about the European sovereign issues and as the Asian stocks fell after Singapore signaled about possible tightening. The Monetary Authority of Singapore stated in its Monetary Policy Statement the “policy will ensure price stability in the medium term while keeping growth on a sustainable path”. The government will allow faster appreciation of the nation’s currency but the trading band will be kept … “Australia’s Dollar Falls on Asia’s Stocks & Europe’s Problems”
GBPUSD: Maintains Sideways Range
GBPUSD: The pair continues to hold and trade within its sideways trading range after bull pressure faded and saw it returning into that range on Tuesday. On further weakness, the pair should target the 1.6149 level and then the 1.5964/35 levels. Guest post by www.fxtechstrategy.com Below there will bring the pair out of its range and … “GBPUSD: Maintains Sideways Range”
Swedish Krona Rises with Better Growth Outlook
The Swedish krona strengthened today after the government raised its growth forecast for the nation’s economy, adding to reasons for the central bank to raise its interest rates. The government estimated that Sweden’s economy will expand 3.8 percent in 2012 and 3.6 percent in 2013. The growth forecast for this year was revised to 4.6 percent from the last month’s estimates of 3.7 percent growth. Economists expected increase of the nation’s trade surplus and decrease … “Swedish Krona Rises with Better Growth Outlook”