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Exchange Currency Article
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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.
Exchange Currency News
Currency trading in London surges - Financial Times
 FXstreet.com | Currency trading in London surges Financial Times By Alice Ross Foreign exchange trading in London, the world's currency hub, surged as worries over the eurozone crisis grew last autumn, figures released on Monday showed. Average daily turnover for trade in global currencies in the UK was just less ... Currency Trade at a Record $977 Billion a Day in North America, Fed Says Australia Foreign-Exchange Trading Volumes Slump Global forex volumes dip, up in N.America |
Current Exchange Rates Could Prompt Brits to Purchase Spanish Property, Says ... - Sacramento Bee
Current Exchange Rates Could Prompt Brits to Purchase Spanish Property, Says ... Sacramento Bee However, despite financial advice prompting consumers to save over the coming months, currency exchange experts, Currencies Direct claims 2012 could prompt millions of Britons to realise their dreams and purchase housing property in Spain. |
Japan Confirms 'Stealth' Currency Intervention - Wall Street Journal
 Wall Street Journal | Japan Confirms 'Stealth' Currency Intervention Wall Street Journal The action came a day before the US released its closely watched employment report, data that often affect the dollar-yen exchange rate. The Finance Ministry declined to say at what time that day's intervention took place. The ministry sold ¥8.072 ... 'Stealth Intervention' in Yen Shown in Japanese Finance Report for Quarter Yen Weakens Against Most Majors Japan confirms stealth intervention to limit yen |
Qatar loans Sudan $2 billion amid slipping currency - Sudan Tribune
 Al-Arabiya | Qatar loans Sudan $2 billion amid slipping currency Sudan Tribune As the government lost access to 75% of oil reserves in the south, the influx of hard currency has been severely curtailed forcing the central bank to be extra prudent with its available foreign exchange reserves. Since more than a year ago, ... Sudan's currency hits low as oil row hits economy |
Becton Dickinson cuts full-year profit outlook - Reuters
Becton Dickinson cuts full-year profit outlook Reuters On a foreign currency-neutral basis, the company backed its previous revenue growth outlook of 2 to 4 percent. The company's shares, which closed at $80.53 on the New York Stock Exchange on Monday, were down 4 percent before the bell on Tuesday. BD Announces Results for 2012 First Fiscal Quarter |
Asian Currencies Drop on Greek Risk, Importers Buying Dollars - BusinessWeek
Asian Currencies Drop on Greek Risk, Importers Buying Dollars BusinessWeek The Thai baht, India's rupee and the South Korean won led losses on speculation importers are buying the greenback to take advantage of favorable exchange rates. Greek Prime Minister Lucas Papademos secured a general agreement on budget-cutting ... US dollar closes lower on Taipei forex |
INDICATORS - Kazakhstan - Feb 7 - Reuters
INDICATORS - Kazakhstan - Feb 7 Reuters ALMATY, Feb 7 (Reuters) - Kazakhstan's economic indicators based on data provided by the State Statistics Agency, government institutions, the central bank and exchanges: * updated today CURRENCY/INTEREST RATE LATEST PREVIOUS *Tenge/dollar 148.63 ... |