Articles about the foreign exchange market. Great for beginners. Also, remember to check out the following sections.
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Forex Articles |
Written by John Forman |
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This particular article focuses on observable trading patterns in European currencies, ones based on the calendar. There is some hesitancy to refer to them as "seasonal" patterns, as one would with commodities, for the simple reason that they are not based on some kind of easily discernable pattern of supply creation. |
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Forex Articles |
Written by Shawn-Elyse Tulac |
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If one first takes a look at the market from a monthly perspective, it can be seen that USD/JPY and the JPY-based crosses have months in which they demonstrate clear tendencies. Figure 1 outlines this. The graph takes a month-by-month look at USD/JPY since 1999 (seven years total), which encapsulates the time since the launch of the year, an important watershed moment in the forex market. |
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Forex Articles |
Written by Abe Cofnas |
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The price action in Gold has been the focus of deserving attention, yet further insight can be gained from an inter-market perspective. The usual historical inverse relationship between the USDX, US Dollar Index, and Gold has been out of sync. Both Gold and the dollar have been strengthening. We can see this in the chart below. But this inverse relationship is not likely to last. Is this an omen for a dollar retracement and a Gold sell off? |
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Forex Articles |
Written by Abe Cofnas |
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The market rewards those on the side of surprise. Traders, particularly in Forex, try to avoid surprises. This is not in itself surprising because joining the crowd, is a defensive action that occurs everywhere in nature. A swarm of bees, a flock of birds, and a herd of sheep, provide individual members protection by being part of the larger group. As we enter the last month of 2005 the Forex crowd around the US Dollar is large- but is it stable? Perhaps its time to look beyond the comfort of the crowd. |
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Forex Articles |
Written by Abe Cofnas |
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We are arriving at a convergence of Technical and Fundamental factors pointing to greater trading opportunities in the EUR/USD pair. From a technical point of view the Daily EUR/USD has been descending from the high of 1.25 to recent two year lows near 1.16. Are we at a bottom? While we can't predict a bottom we can see that opportunities to buy the EUR are providing over 100 pip daily ranges. It's getting easier to go counter trend. |
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Forex Articles |
Written by Abe Cofnas |
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When markets move, particularly in Forex, they move fast. We all have witnessed breakouts and have had the occasion to lament a trade that got away. The beginning trader sees breakouts as a way of riding a strong wave of volatility and providing a quick profit. The problem with the strategy of playing a breakout is that breakouts are technically unstable. They present difficult questions to answer, such as: How long will it last? Especially when there is an absence of news, the question of what caused it is difficult to determine. The better way to trade a breakout is letting the breakout occur and waiting for a subsequent pattern to emerge. Often a Fibonacci retracement pattern emerges, providing trading set-ups. Let's look at some patterns. |
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Forex Articles |
Written by Abe Cofnas |
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Why some traders prefer trading one of these pairs versus the other is almost a matter of personal preference. Both pairs will reflect global sentiment regarding the dollar. As a result, it is usually the case that they will share the same trend patterns. If world reaction to economic news is positive for the US economy, as a general rule, both the Euro and the GBP will tend to weaken. The chart below, for example, shows how the EURUSD and the GBP have moved on the 1 hour pattern. Notice how similar the patterns are. The hour charts below show that both pairs provided a similar reaction to the Nov 4th economic release of the non-farm payroll report. |
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Forex Articles |
Written by Darrell Jobman |
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Tired of the vagaries of stocks or the volatility of futures such as energy or gold? Then you might be a candidate for the largest traded "market" in the world. It's not the U.S., Japanese or European stock markets but the foreign exchange ? or forex or just FX ? market, also called the cash currency market. |
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Forex Articles |
Written by Abe Cofnas |
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Until recent years, the opportunity to put on a trade was governed by the cycle of day and night. But a unique characteristic of Forex trading is its round the clock sequence of trading. Starting Sunday when the sun rises in Asia, until Friday late afternoon, when the New York markets close, Forex trading is available. So the question arises, what is a Day trade in Forex, if technically Forex is a continuous week of trading? To answer that question we do not need to delve into the nature of human circadian biorhythms. |
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Forex Articles |
Written by Abe Cofnas |
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A recently published book- The Psychology of the Foreign Exchange Market, Thomas Oberlechner (John Wiley and Sons Ltd) provides the results of research on how professional traders view the markets. In Chapter 7, Professor Oberlechner focuses on how Forex markets are characterized with different metaphors. Metaphors are an important way people organize information, as well as form their own expectations of the market. Professor Oberlechner cites the main metaphors used by Forex traders. Forex is like the following: a Bazaar, Machine, Living Beast, Gambling, Sports, War, and the Ocean. Many of us have probably used one or more of these concepts to characterize the Forex market. |
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