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)
January 27, 2012.
| EUR-USD |
 |
Resistances lie around 1.3147 and 1.3165. It should test lower towards 1.3072 zone. A clear break of 1.3052 would be bearish. |
| USD-CHF |
|
Market should hold major support at 0.9127 before rising towards 0.9237 or even 0.9269 limit. |
| GBP-USD |
|
Resistances lie around 1.5713 and 1.5735. It should test lower towards 1.5646 zone. A clear break of 1.5688 would be bearish. |
| USD-JPY |
 |
It should register further gains to 77.75 while 77.23 - 77.00 caps downside attempts. Stop loss below 76.71 zone. |
| USD-CAD |
|
It should try higher up to 1.0033 - 1.0051. Entry point 1.0016 or 1.0000. After this rise, a correction is expected. |
| NZD-USD |
 |
Currently uptrend should end around 0.8247 - 0.8259 area. A correction down to below 0.8153 is expected. A rise above 0.8300 will abort the expected correction. |
| AUD-USD |
|
Should test support at 1.0585 while below 1.0632. If support at 1.0585 holds it can rise up to 1.0684, if not it should fall to below 1.0538 zone. |
| EUR-JPY |
|
It looks more likely that it would rise to 102.02 - 102.52 from 101.48 or 101.23. After which a downside move is expected. |
| EUR-CHF |
|
It looks set to visit further lower territory down to around 1.2052. Its corrective attempts should fail ahead of 1.2087. Stop loss above 1.2108 zone. |
| EUR-GBP |
|
There are initial signs of a good corrective recovery towards 0.8377 or even 0.8386. Supports at 0.8352 and 0.8336 zone. |
| EUR-CAD |
|
Market should pop up towards 1.3161 or 1.3178 this bullish scenario would be damaged if 1.3122 - 1.3101 zone is broken, a severe break down could then occur. |
| EUR-NZD |
|
There is bearish potential for a fall to 1.5952 - 1.5895 while 1.6009 - 1.6039 resist. After this fall a recovery up to 1.6039 or 1.6068 is expected. |
| EUR-AUD |
|
It may meet resistance in 1.2329 - 1.2340 zone for a drift down to 1.2304 zone, after which bounce to 1.2366 is anticipated. |
| GBP-CHF |
|
It should test 1.4492 area after which a sell off down to 1.4390 or extended to 1.4338 area is expected. |
| GBP-JPY |
|
Our preferred outlook is for a drift down to 121.27 or below 121.01. Resistances are at 121.53 and 121.58. A rise above 121.83 would delay but not abort this expected fall. |
| GBP-CAD |
|
Market should hold major support at 1.5654 before rising towards 1.5749 or even 1.5777 limit. |
| GBP-AUD |
|
It should try higher up to 1.4772 - 1.4801. Entry point 1.4744 or 1.4722. After this rise, a correction is expected. |
| CAD-JPY |
|
Our preferred outlook is for a drift down to 77.18 or below 77.06. Resistances are at 77.30 and 77.40. A rise above 77.52 would delay but not abort this expected fall. |
| NZD-JPY |
|
Currently uptrend should end around 63.87 - 63.89 area. A correction down to below 63.31 is expected. A rise above 64.14 will abort the expected correction. |
| AUD-JPY |
|
A corrective rise should ideally test 82.74 or even higher than 83.13. Supports are at 82.03. Stop loss below 81.79 zone. |
| XAG-USD |
|
One move lower to 33.04 or 32.63 is anticipated while below 33.63 - 33.83 area. Stop loss above 34.22 zone. |
| XAU-USD |
|
One move lower to 1706.49 or 1691.08 is anticipated while below 1726.24 - 1733.94 area. Stop loss above 1745.98 zone. |
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