Forex News
The Spot, Cash or Money market is the biggest market.
You probably heard about futures, options and forwards
which are derivatives of the main Cash Market.
The word FOREX is derived from Foreign Exchange
and is the most largest financial market in the world. Unlike many markets the FX market is open 24
hours per day and has an estimated $2.0 Trillion in turnover every day. This tremendous turnover is
more than the combined turnover of all the wordls' stock markets on any given day. This tends to
lead to the most liquid market and thus makes it a very interesting market to trade.
The Forex Market is an OTC Market (Over The Counter), meaning it doesn't have to be traded on an exchange.
The FX market does not have a fixed exchange. Nobody can claim having the right
price but the high liquidity of this market makes it autoregulated. It is primarily traded through
banks, brokers, dealers, financial
institutions and private individuals. Trades are still executed through
phone and increasingly through the Internet as the Internet penetration is growing drastically. It
is only in the last few years that the smaller investor has been able to gain access to this market,
around year 2000. Previously the large amounts of deposits required precluded the smaller investors and the monopoly of the big institution enabled a lot of cheating. With the advent of the Internet and growing competition it is now easily in the reach of most investors and the margin of the institution reduced automatically.
Today's market comments
(See News for historical data)
March 10, 2010.
| EUR-USD |
 |
Market should hold major support at 1.3537 before rising towards 1.3645 or even 1.3690 limit. |
| USD-CHF |
|
Resistances lie around 1.0778 and 1.0795. It should test lower towards 1.0717 zone. A clear break of 1.0722 would be bearish. |
| GBP-USD |
 |
It may meet resistance in 1.4997 - 1.5001 zone for a drift down to 1.4932 zone, after which bounce to 1.5066 is anticipated. |
| USD-JPY |
|
Current fall is near an end of wave around 89.62 zone, a rally should then procede to above 90.32. Fall below 89.28 would cancel this scenario. |
| NZD-USD |
|
It should trade higher to 0.7055 while 0.6995 or 0.6981 offers support. Stop loss below 0.6935 zone. |
| AUD-USD |
 |
It should try higher up to 0.9144 - 0.9173. Entry point 0.9115 or 0.9099. After this rise, a correction is expected. |
| EUR-JPY |
|
Market should hold major support at 121.28 before rising towards 123.19 or even 124.01 limit. |
| EUR-CHF |
|
It looks set to visit further lower territory down to around 1.4621 - 1.4616. Its corrective attempts should fail ahead of 1.4630 or 1.4633. Stop loss above 1.4643 zone. |
| EUR-GBP |
|
Should test support at 0.9045 while below 0.9069. If support at 0.9045 holds it can rise up to 0.9095, if not it should fall to below 0.9021 zone. |
| EUR-CAD |
|
Current fall is near an end of wave around 1.3900 zone, a rally should then procede to above 1.4013. Fall below 1.3845 would cancel this scenario. |
| EUR-NZD |
|
Market should not go lower than 1.9344 - 1.9285. After this move down it should go up to 1.9438 - 1.9472 area. |
| EUR-AUD |
|
Market should not go lower than 1.4869 - 1.4822. After this move down it should go up to 1.4944 - 1.4973 area. |
| GBP-CHF |
|
It may meet resistance in 1.6124 - 1.6125 zone for a drift down to 1.6076 zone, after which bounce to 1.6173 is anticipated. |
| GBP-JPY |
|
Current fall is near an end of wave around 133.86 zone, a rally should then procede to above 136.04. Fall below 132.80 would cancel this scenario. |
| GBP-CAD |
|
It may meet resistance in 1.5387 - 1.5403 zone for a drift down to 1.5323 zone, after which bounce to 1.5467 is anticipated. |
| GBP-AUD |
|
It looks set to visit further lower territory down to around 1.6399 - 1.6339. Its corrective attempts should fail ahead of 1.6399 - 1.6528. Stop loss above 1.6650 zone. |
| CAD-JPY |
|
Market should hold major support at 87.07 before rising towards 88.11 or even 88.53 limit. |
| NZD-JPY |
|
Market should hold major support at 62.66 before rising towards 63.54 or even 63.85 limit. |
| AUD-JPY |
|
It should test 83.13 area after which a sell off down to 81.57 or extended to 80.91 area is expected. |
| XAG-USD |
|
It may attempt a test higher to 17.33 - 17.48 after which weakness may set it to a drift down to 16.95 limit. |
| XAU-USD |
|
Market should hold major support at 1104.13 before rising towards 1128.43 or even 1134.97 limit. |
|
