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It's important to look at the big picture no matter what markets, and what time frame you are trading. There's no difference in trading Forex. Sometimes, one may wonder why a short term trend halts and reverses at a certain level before knowing that it's an important long term support/resistance, or a projection level in play. On the other hand, forex traders are always advised to pay attention to fundamentals like inflation forecasts, growth and monetary policy in medium to longer terms.
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Long Term Forecasts |
Written by DailyFX |
Jul 20 06 12:06 GMT
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The Australian dollar roared back and then some in the second quarter of 2006 on improved economic fundamentals in the Pacific Rim economy. Coupled with the sustained demand for gold and base metal exports, there was plenty of fundamental reasoning for a rebound in the single currency in the past three months. Housing has turned up positive as consumers have come out of hiding, albeit not in droves as previously witnessed. |
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Long Term Forecasts |
Written by DailyFX |
Jul 20 06 12:05 GMT
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The New Zealand dollar came under significant pressure in the first half of 2006. The currency pair sold off 15 percent over the past six months from a high of 0.70 in mid January to a low of 0.5925 in late June. Over the past few years, the New Zealand dollar and its currency has been one of the darlings of the foreign exchange market because of the country's high interest rates and appreciating value. |
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Long Term Forecasts |
Written by DailyFX |
Apr 18 06 04:04 GMT
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The first quarter of 2006 has been marked by a significant drop in volatility in the currency market with a move towards more range bound trading. The EUR/USD traded in a 500 pip range, compared to the 850 pip range that we experienced in the first quarter of 2005. The major reason for the drop in volatility has been the convergence of interest rate policies of the two central banks. While the US Federal Reserve continues to charge on forward with incremental interest rate hikes, the European Central bank has finally joined the ball game as the EZ economic recovery builds momentum. |
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Long Term Forecasts |
Written by DailyFX |
Dec 19 05 12:36 GMT
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2005 has been a phenomenal year for the US dollar with 2004 losses now nothing more than a distant memory. After having fallen eight percent on a trade weighted basis in 2004, the dollar ended up over ten percent this past year. Like a boxer still standing tall in the ring after absorbing repeated blows, the dollar still managed to come out ahead despite soaring energy prices and devastating natural disasters The US economy proved to be much more resilient than even the most respected analysts from the biggest banks had predicted as the country quickly recovered from Hurricanes Katrina and Rita which temporarily drove oil prices above $70/bbl. |
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