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The Forex Market
The Forex market is an incredible market to trade currencies. Forex stands for foreign exchange and the Forex market is the largest financial market in the world. The Forex market trades close to 2 trillion dollars each day and since there is no center for the market, continues 24 hours a day starting from Sydney, Australia, which are home to one the major currencies.Many people trade in the Forex market due to the fact that it is a great way for day traders to profit on investments that they make each day. Another big plus is that the technology has advanced, so that almost anyone can trade Forex from the privacy of their own home.
The Forex market usually trades many global currencies, however many Forex market traders usually stick to the majors which include the US dollar, Euro, Japanese Yen, Swiss Franc, Australian Dollar, British Pound and Canadian Dollar. While other currencies are traded on the Forex market, these major currencies make up an overwhelming chunk of the Forex market.
Almost anyone from anywhere can trade Forex. If you are just starting out and would love to trade in the Forex market, you can find many courses and tutorials that can help get you started in no time. Many trading sites have sprung up and offer you to trade on their sites. They offer real time quotes, great data and charts, background information and an easy platform to trade in the Forex market. So if you are interested in a new way to invest, look into the Forex market.
Recent Forex News
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Chart Of The Day: USD/JPY
Coming into the New Year, price action on the key USD/JPY pair (a daily chart of which is shown) has made a very decisive break above a strong downtrend resistance line that has been in place since at least September 2008. In the process, the pair can now be considered...
Euro Expected to Form a Low Soon; British Pound Breakout Trade
I wrote yesterday that “the decline from the July 2008 high (1.6040) can be counted as a 5 wave drop (wave 5 is truncated). 5 waves down at this degree of trend indicate that the long term trend has changed and that a multi-year bear is underway.” The surge through...
The Pound Stalls As The Euro Tumbles: The DailyFX Analysts Find The Opportuni...
As the first full week of the New Year wears on, traders seem to be taking advantage of the influx of liquidity and volatility to turn the market back to trends. However, the high correlation through the the fourth quarter of 2008 seems to be breaking down with the european...
Elliott Wave - Dollar Index
The dollar index moved higher in trade this week, while the euro and gold were going lower, and the pound, cad and aussie were gaining. The index traded exactly in the territory that we mentioned yesterday, the 82.60-83.00 resistance area. If this price area does not push the $ index...
Daily Technical Strategist
A build up on Friday losses saw the pair cutting through the 1.3882/1.3900 area, its Sept 11'08 high/.618 Ret and the 1.3785 level, its Oct 09'08 high to close lower Monday at 1.3637.It was seen weakening sharply in early morning trading today opening up downside risk towards the 1.3298 level,...
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Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
New York Session Recap
The buck gave up overnight gains in NY trading as a poor batch of US economic data and the FOMC meeting minutes dealt the market a fresh dose of reality. The ISM services index was the lone positive surprise, coming at a still dismal 40.6 in December after a paltry...
Stocks Rise As Fed Indicates 'Substantial" Risks To The Economy Exist
Stocks rose on Tuesday even after minutes from the Federal Reserve's Dec. 16 meeting showed that policy makers remained deeply concerned economic conditions, expressing the view that output would contract in 2009, unemployment would rise "significantly" into 2010 and that inflation could flirt with "uncomfortably low levels."
Currency Pair Overview
The currency market continued to buy dollars in the overnight session. Amazingly, the pound managed to post some small gains even though until now it has been sold at a strong pace, touching a record low both against the euro and the swissy, and a six year low against the...
Greenback Slumps on Soft Data
The dollar relinquished its recent gains versus the majors, tumbling by over four big figures against the pound to 1.4960. The economic data released earlier in the session was mixed, with durable goods, factory orders, pending home sales and non-manufacturing ISM reported in the Tuesday session.
Fed Sees 'Possibility Of A Prolonged Contraction'
The Federal Reserve released the minutes from the last monetary policy meeting over December 15th and 16th; and their observations were discouraging. Though the Federal Open Market Committee decided to lower the benchmark lending rate to encompass a range between zero and 0.25 percent (a record low under modern policy...
Newsfeed display by CaRP
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Chart Of The Day: USD/JPY
Coming into the New Year, price action on the key USD/JPY pair (a daily chart of which is shown) has made a very decisive break above a strong downtrend resistance line that has been in place since at least September 2008. In the process, the pair can now be considered...
Euro Expected to Form a Low Soon; British Pound Breakout Trade
I wrote yesterday that “the decline from the July 2008 high (1.6040) can be counted as a 5 wave drop (wave 5 is truncated). 5 waves down at this degree of trend indicate that the long term trend has changed and that a multi-year bear is underway.” The surge through...
The Pound Stalls As The Euro Tumbles: The DailyFX Analysts Find The Opportuni...
As the first full week of the New Year wears on, traders seem to be taking advantage of the influx of liquidity and volatility to turn the market back to trends. However, the high correlation through the the fourth quarter of 2008 seems to be breaking down with the european...
Elliott Wave - Dollar Index
The dollar index moved higher in trade this week, while the euro and gold were going lower, and the pound, cad and aussie were gaining. The index traded exactly in the territory that we mentioned yesterday, the 82.60-83.00 resistance area. If this price area does not push the $ index...
Daily Technical Strategist
A build up on Friday losses saw the pair cutting through the 1.3882/1.3900 area, its Sept 11'08 high/.618 Ret and the 1.3785 level, its Oct 09'08 high to close lower Monday at 1.3637.It was seen weakening sharply in early morning trading today opening up downside risk towards the 1.3298 level,...
Newsfeed display by CaRP
Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
New York Session Recap
The buck gave up overnight gains in NY trading as a poor batch of US economic data and the FOMC meeting minutes dealt the market a fresh dose of reality. The ISM services index was the lone positive surprise, coming at a still dismal 40.6 in December after a paltry...
Stocks Rise As Fed Indicates 'Substantial" Risks To The Economy Exist
Stocks rose on Tuesday even after minutes from the Federal Reserve's Dec. 16 meeting showed that policy makers remained deeply concerned economic conditions, expressing the view that output would contract in 2009, unemployment would rise "significantly" into 2010 and that inflation could flirt with "uncomfortably low levels."
Currency Pair Overview
The currency market continued to buy dollars in the overnight session. Amazingly, the pound managed to post some small gains even though until now it has been sold at a strong pace, touching a record low both against the euro and the swissy, and a six year low against the...
Greenback Slumps on Soft Data
The dollar relinquished its recent gains versus the majors, tumbling by over four big figures against the pound to 1.4960. The economic data released earlier in the session was mixed, with durable goods, factory orders, pending home sales and non-manufacturing ISM reported in the Tuesday session.
Fed Sees 'Possibility Of A Prolonged Contraction'
The Federal Reserve released the minutes from the last monetary policy meeting over December 15th and 16th; and their observations were discouraging. Though the Federal Open Market Committee decided to lower the benchmark lending rate to encompass a range between zero and 0.25 percent (a record low under modern policy...
Newsfeed display by CaRP