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Wednesday, July 31, 2013

GBP/USD TECHNICAL ANALYSIS





GBP/USD is one of the most significant pair in the forex market. It has been reversing the trend often by the economic criteria of the currencies. After the successive climb over the uptrend for the past ten days, the trend has changed made a stop to overbuy. Actually, it is hard to predict the reputed currency pair’s trend. Now USD is ready to move against the pound. 

Since this week open, dollar has been showing the trend against pound. It is accepted from the indicators behavior. The short term moving average implies the downtrend for all this week. From this downtrend, the trend is obviously running beyond the pivot point. GBP/USD touched its high resistance of 1.54239 after a month gap on last Wednesday. 

So, it will be moving down until to reach a valid support. The downtrend should reach the expected support point of 1.51209 by the market situation. The technical people highly believe it to be a downtrend because of the consecutive economic releases will give favor to the USD.

Tuesday, July 30, 2013

NZD/USD TECHNICAL ANALYSIS





NZD/USD had shown a month uptrend for July and it began its downtrend from this week open. USD tried to retrieve from this bearish trend. As NZD and USD are parity over one another, it often changes its trend. From yesterday onwards, it has been showing its strong sell. 

The USD is not only dominating NZD, it is dominating against most of its peers. The EUR/NZD pair also began its uptrend after a week downtrend. So, it is recommended to sell NZD against all its pairs. On today, the NZD/USD begins with the tremendous sell by the NZD depreciation. 

After a notable trend, the pair reached its high resistance of 0.80988 and this strong sell try to locate its support. This trend remains continuous until it finds the well support of 0.79068. 

It is highly believed by the subsequent economic releases of USD. Before reaching the good support, it is predicted to cross the two support points of 0.79640 and 0.79372.

For more:
http://fxbase.com/newsroom/dollar-rises-versus-most-peers-before-fed-meeting-yen-gains/ 

Monday, July 29, 2013

NZD/JPY TECHNICAL ANALYSIS






NZD/JPY pair has been beginning its downtrend from the last week and made a stop to its uptrend continuation since from the last month. It is clearly viewed from the market that the JPY is ruling with the most currencies. From the mid of June and the entire July are noted as its uptrend and provided around 540+ pips. 

The downtrend had begun on last Friday itself and still continues its downtrend to reach a good support. The notable resistance 80.385 had achieved on last week after a month. So, it is hard to achieve it back soon. 

This week market begins at 79.108 and remains towards downtrend. It is believed to keep moving towards down until it finds its good support.

By the variation in the news releases, it is somehow hard to predict. But, it is predicted to hit the point of 78.166 within two day. If this support point hits, we could gain 70+ pips.

For more:

Saturday, July 27, 2013

Reasons Behind To Be a Forex Trader


Forex trader is a performer who is evaluating the currency trading for his successful path. The reasons to be a forex trader may vary according to the behavior and the level of participations. Somebody treats forex as a money making tool and somebody treats as a career development aspect. There is nothing to be blamed or point out about their view over the forex because, it satisfies the both the traders in both the aspects. 



The main motto of the part time traders is to earn some extra money to tackle their basic needs. But, it is quite different for professional traders. They keen into the forex to do this as a profession and to enrich their intellectual. As they are following several strategies and tricks to do this, it is must to develop their knowledge. If forex is a profession, they need to work something more to participate in trading.
 



Some people want to live as a protagonist. Their mind set develops in the way of self-respect and self-determination. Actually, this kind of people will never give up and work more to succeed. So, forex treats them as an entrepreneur while doing the business. Great success will be attained on the way of trading journey but beware of pitfalls over the journey.