Welcome to Forex Trading Guide
Day Trading Forex Currencies Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Support and Resistance – the two key words
from:To really understand the behavior of a currency on the Forex market it is important to see how it has behaved over a period of time. Taken over the course of a very short space of time, it is possible to make data mean just about anything. This, in turn, means that the data will be almost worthless. Over a longer period of time, however, patterns always seem to assert themselves, and establish a firm basis for predicting the future behavior of a currency price. Among the most important figures that appear in a pattern are the support and resistance points.
The point of “support” for any currency is the price level beneath which a currency never trades – effectively its market “bottom”. Whenever the price reaches this level, it almost always bounces back upwards, and for this reason many people will invest when a currency hits that point. Conversely, the “resistance” point is the traditional high point of a currency price, above which it never trades. If you are looking to cash out, this is a good reference point.
Of course, the old saying “there’s a first time for everything” exists for a reason. There will come a time when a currency breaks its support or resistance levels, and this is seen as hugely important. When a currency does this it will be expected to continue this trend, possibly for an extended period of time. It is therefore a good time to get “in” if it is rising or “out” if it is falling.
Day Trading Forex Currencies News
WORLD FOREX: Currency Markets Steady, Await News On Greece - Wall Street Journal
 Trading Point | WORLD FOREX: Currency Markets Steady, Await News On Greece Wall Street Journal By Clare Connaghan Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Currency markets were holding steady in tight ranges in European trading Wednesday as participants refrained from placing new bets without firm news of a political deal in Greece that would ... FOREX-Euro falls from 2-mth high as Greek outcome awaited WORLD FOREX: Pound Up After BOE; Euro Steady Amid Greek Impasse FOREX-Euro dips from 2-month high as markets await Greek outcome |
Forex Trading Volume Rises in North America: What it Means for You - DailyFX
Forex Trading Volume Rises in North America: What it Means for You DailyFX By Christopher Vecchio, Currency Analyst The Federal Reserve's Foreign Exchange Committee released its semi-annual survey on the average daily trading volume in the forex market, showing interesting shifts in overall trading. According to central bank ... |
FOREX-Euro hits 2-month peak vs dollar on Greek deal - Reuters
 Trading Point | FOREX-Euro hits 2-month peak vs dollar on Greek deal Reuters The currency rose as high as $1.3321, and was last changing hands at $1.3285, up about 0.2 percent. Traders said the euro looked set to stay above $1.30 now that a Greek deal appears to have averted a disorderly debt default; and it could make a run at ... FX Traders Bet On Imminent Resolution To Greece Talks FOREX-Euro rises on Greek deal reports, Draghi awaited Forex Market Review – Euro rebounds to new 2-mth high as Greek debt talks continue |
Forex Trading Volume Drops for First Time Since 2009 - Wall Street Journal
Forex Trading Volume Drops for First Time Since 2009 Wall Street Journal Swap volumes fell 8% in the four regions between April and October, to $1.368 trillion a day, with the UK and Australia seeing the steepest declines. By comparison, spot currency trading was up more than 9%. "There was fear of counterparty risk," said ... |
Euro Extends Rebound As Greek Debt Talks Continue - Action Forex
 Best Syndication | Euro Extends Rebound As Greek Debt Talks Continue Action Forex Remarks from ECB president Draghi that the economic shows tentative signs of improvement could be a slightly supportive for the single currency. So, EUR/USD trading is still subject to conflicting factors, but as long as the hope on a Greek deal is ... UK, Euro-Zone Interest Rate Decisions Set to Impact Markets Forex - USD/JPY hits 9-day high amid Greece uncertainty Forex: EUR/USD reaches fresh 2-month high |
Forex: GBP/USD rises further on Greek deal - NASDAQ
 RTT News | Forex: GBP/USD rises further on Greek deal NASDAQ FXstreet.com (San Francisco) - The GBP/USD is trading higher in today after the BoE announcement to increase the bond buying program until £325 billion and lately on the back of news from Greece about the final agreement on the Greek Bailout. Forex: GBP/USD up ahead of BoE GBP/USD: Trading the Bank of England Interest Rate Decision Forex - GBP/USD hits session high after BoE increases QE |
Forex Brokers Review covers Forex metal - Forex News Now
Forex Brokers Review covers Forex metal Forex News Now ForexNewsNow - This forex broker review covers Forex Metal, a great forex broker run on the popular MetaTrader4 platform that offers it's traders a array of currencies, metals, and futures to trade. Unfortunately, it is currently located in Panama and ... |