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)
July 19, 2010.
| EUR-USD |
 |
A corrective rise should ideally test 1.2992 or even higher than 1.3058. Supports are at 1.2883. Stop loss below 1.2824 zone. |
| USD-CHF |
 |
It should try higher up to 1.0529 - 1.0572. Entry point 1.0486 or 1.0459. After this rise, a correction is expected. |
| GBP-USD |
 |
Current move should be supported in 1.5290 - 1.5231 zone for a rise to 1.5534. A break below 1.5162 opens the way down. |
| USD-JPY |
|
It may meet resistance in 86.67 - 86.81 zone for a drift down to 86.12 zone, after which bounce to 87.36 is anticipated. |
| USD-CAD |
|
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0648 or 1.0610 if support around 1.0495 hold. After which a pullback to 1.0495 - 1.0463 zone is possible. |
| NZD-USD |
|
Market should not go lower than 0.7105 - 0.7043. After this move down it should go up to 0.7203 - 0.7237 area. |
| AUD-USD |
|
Market should not go lower than 0.8631. After this move down it should go up to 0.8801 area. |
| EUR-JPY |
|
Market should not go lower than 111.79 - 111.26. After this move down it should go up to 112.69 - 113.08 area. |
| EUR-CHF |
|
Current rise seems to be over near 1.3609 or 1.3660 for a retracement towards 1.3558 - 1.3525 area. |
| EUR-GBP |
|
Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8493 or 0.8486 if support around 0.8425 hold. After which a pullback to 0.8425 - 0.8406 zone is possible. |
| EUR-CAD |
|
One move lower to 1.3479 or 1.3324 is anticipated while below 1.3646 - 1.3724 area. Stop loss above 1.3814 zone. |
| EUR-NZD |
|
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8463 or 1.8350 if support around 1.8048 hold. After which a pullback to 1.8048 - 1.7961 zone is possible. |
| EUR-AUD |
|
One move lower to 1.4690 or 1.4516 is anticipated while below 1.4883 - 1.4970 area. Stop loss above 1.5075 zone. |
| GBP-CHF |
|
It looks set for gains to 1.6148. Supports at 1.6046 and 1.6017. A break of 1.5944 will damage this bullish structure. |
| GBP-JPY |
|
Market should not go lower than 132.31 - 131.35. After this move down it should go up to 133.90 - 134.53 area. |
| GBP-CAD |
|
One move lower to 1.6036 or 1.5935 is anticipated while below 1.6165 - 1.6215 area. Stop loss above 1.6293 zone. |
| GBP-AUD |
|
One move lower to 1.7483 or 1.7372 is anticipated while below 1.7614 - 1.7669 area. Stop loss above 1.7745 zone. |
| CAD-JPY |
|
Current fall is near an end of wave around 81.17 zone, a rally should then procede to above 83.72. Fall below 80.17 would cancel this scenario. |
| NZD-JPY |
|
Market should not go lower than 60.42. After this move down it should go up to 63.17 area. |
| AUD-JPY |
|
Market should not go lower than 73.86. After this move down it should go up to 76.81 area. |
| XAG-USD |
|
Market should not go lower than 17.81 - 17.62. After this move down it should go up to 18.13 - 18.26 area. |
| XAU-USD |
|
Market should pop up towards 1201.95 or 1207.18 this bullish scenario would be damaged if 1189.61 - 1182.51 zone is broken, a severe break down could then occur. |
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