ForexGen Currency Trading

US Dollar Recede To 1.0320 Against Canadian Dollar

noreply@blogger.com (ForexGen) — Fri, 8 Jan 2010 03:44:00 -0800

The Canadian Dollar could rise for a fifth straight day, as copper and gold rose.

Crude Oil, the nation’s biggest export, reached its highest level in almost 15 months. Furthermore Canadian reports this week forecast that the nation’s employers added 20,000 jobs in December 2009.

In contrast to the U.S. companies which cut 84,000 jobs last month, more than expected.

US Dollar Recede To 1.0320 Against Canadian Dollar.

Also the EUR traded near a three week high against the USD as signs that the global economic recovery is gathering momentum. This increases the demand for higher yielding assets.

The USD traded at 1.4405 per EUR. The JPY was at 132.87 versus the EUR after weakening to 133.38.

The AUD could continue its bullish trend against 15 of its 16 major counterparts after retail sales climbed by the most in eight months in November 2009.

The USD dropped to 0.9227 against the AUD.

Crude Oil Price Rise To As High As 83.52

noreply@blogger.com (ForexGen) — Fri, 8 Jan 2010 02:54:00 -0800

Crude oil Price Rise to as high as 83.52 and the firm break of 82.0 resistance confirms that whole medium term rise from 33.2 has resumed.

Intraday bias will now remain on the upside as long as 80.79 minor support holds.

Current rise should now be upper trend line resistance at 87/88 level.

On the downside, below 80.79 will indicate that an intraday top is formed and bring retreat, probably to 4 hours 55 EMA (now at 79.72, before rally resumption.

How to Pick The Best Pair For Forex Currency Trade

noreply@blogger.com (ForexGen) — Wed, 30 Dec 2009 02:14:00 -0800

Does anyone of you have an idea on which currency pairs are the best to trade in foreign exchange? Is it the major currency pairs, the cross pairs or the exotic pairs?

Well there isn't really a right and wrong answer; it depends on how you define 'best'. If a currency pair has tight spreads, it may be considered the best trading currency pair for you, but may not apply for others. So now we'll discuss on various factors on choosing a forex pair:

Spreads - There is always an advantage to trade currency pairs that have a tight spread in forex trading.

Trendiness - For chartist traders like me, I depend mostly on technical indicators to help me decide which forex currency pair to trade.

Trading Sessions - The best time to trade forex is when the market is the most active and therefore has the biggest volume of trades.

During Asian hours when Tokyo opens, the better trading time is from 7PM EST to 10PM EST. But since not all the currency pairs are actively moving, you may want to trade AUD/USD as it starts to move during the stated timing.

New Ways People Get Rich

noreply@blogger.com (ForexGen) — Wed, 30 Dec 2009 02:03:00 -0800

There are many ways people use in order to get rich, for some it's an effort while for others its effortless. However the majority of people get rich by making the right investments, .i.e. in stocks and bonds, Forex and property etc.

The trick here is to know which investment suits your style. If you are a risk taker, which most rich people are, then stocks, bonds and Forex are great. On the other hand if you are not, then starting your own small business or buying and selling property is a good start. But this won't make you rich in a few months or even years.

With a little seed money, you can even make money off online gambling. It doesn't matter if you know how to gamble or not, you just need to learn the game and the techniques pros use in order to win.

Online gambling is one of the many ways people get rich doing. You can make thousands of dollars each day, by just placing bets or rolling a dice.

If you study the financial system you can also start investing in stocks and bonds. All you need to do is to allocate a few hours a day towards studying the market trend for a few weeks before you go out and contact a broker.

ForexGen Live Accounts Contest

noreply@blogger.com (ForexGen) — Wed, 30 Dec 2009 02:00:00 -0800

Trade, Compete, and Win - Begins the 1st of Every Month!

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this is a live trading [competition] open for all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.

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All prizes are CASH prizes with no restrictions on withdrawing the prize money! How Do I Enter?

You don't have to pay any fee to enter this contest, all [ForexGen] mini Accounts with a balance of "$1000" and a default leverage of 1:200 are entitled to participate in this contest upon their account holder request by sending an e-mail request on live.contest@forexgen.com

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com

Euro/US Dollar Technical Analysis

noreply@blogger.com (ForexGen) — Wed, 30 Dec 2009 01:56:00 -0800

EURUSD bulls strength is not strong enough in order to break resistance level, at the moment low trading range is formed between support and resistance levels.

Further bouncing is expected.

Waiting action is better option with selling possibilities.

EURUSD Trend Support Resistance

Long Term Negative 1.4246 1.4396