Best Forex Trading Signals http://best-forex-trading-signals.com Profit Strategies for the New Forex Market Wed, 22 Feb 2012 06:06:20 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 February 21, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-21-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-21-2012-forex-signals#comments Wed, 22 Feb 2012 04:09:24 +0000 Admin http://best-forex-trading-signals.com/?p=1709 Seven months of negotiations finally came to an end in Brussels overnight where European Finance ministers approved a 130 billion-euro bailout package for Greece. The deal included a 53.5 percent write down for private bondholders as well as tapping into ECB profits to help provide relief. Despite the stalemate finally ending European Stocks fell from [...]]]> Seven months of negotiations finally came to an end in Brussels overnight where European Finance ministers approved a 130 billion-euro bailout package for Greece. The deal included a 53.5 percent write down for private bondholders as well as tapping into ECB profits to help provide relief. Despite the stalemate finally ending European Stocks fell from a six month high overnight as speculation mounted that the bailout will not be sufficient to solve the nation’s debt crisis. With Greece facing a fresh election in April, public unrest and administrative incapability’s will only further add to the argument that the current solution remains a mere band-aid which may fall off at any time. Despite the bears which have surfaced, the short-term viability of Greece has been assured. On the currency front the 17-Nation Euro initially rallied following the announcement trading to an overnight high of 1.3292 against its US Counterpart, unable to sustain those gains however, opening this morning a very similar level to where we left it yesterday at a rate of 1.3246. Meanwhile US Markets returned from a public holiday yesterday with the Greenback benefiting overnight from a minor flight to safety which saw the Dollar appreciate against the Japanese Yen for fourth straight day opening stronger at a rate of 79.682

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]]> http://best-forex-trading-signals.com/trade-reports/february-21-2012-forex-signals/feed 0 February 16, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-16-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-16-2012-forex-signals#comments Fri, 17 Feb 2012 03:17:45 +0000 Admin http://best-forex-trading-signals.com/?p=1707 The Euro has broken higher overnight after subdued risk sentiment kept the single currency under pressure for most of the day. Not before falling below the 1.3000 mark to lows of 1.2980, a combination of Greek developments and US fundamentals worked together push the risk switch back to the ‘ON’ position.  Helping the Euro gain [...]]]> The Euro has broken higher overnight after subdued risk sentiment kept the single currency under pressure for most of the day. Not before falling below the 1.3000 mark to lows of 1.2980, a combination of Greek developments and US fundamentals worked together push the risk switch back to the ‘ON’ position.  Helping the Euro gain 1.2% was a move by the European Central Bank (ECB) to swap maturing Greek bonds with new securities, raising market hopes that Greece will indeed secure its next bailout. It has been reported however that the move is aimed at protecting the ECB from forced bond write-downs as the new securities contain a clause exempting them from any legal action by Athens to impose losses. Still, this move should make it easier for the central bank to put its profits towards assisting Greece, and markets rallied along with encouraging data from the United States. First–time jobless claims fell by 13,000 to its lowest level since March 2008 and the Philly Fed Manufacturing Index reported a sharp increase to 10.2 and its fastest pace in four months. Opening this morning, the Euro has hit resistance at 1.3150 and trades just below here and the USD/JPY has moved higher once again to levels above 78.90.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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]]> http://best-forex-trading-signals.com/trade-reports/february-16-2012-forex-signals/feed 0 February 15, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-15-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-15-2012-forex-signals#comments Thu, 16 Feb 2012 03:08:03 +0000 Admin http://best-forex-trading-signals.com/?p=1705 The S&P 500 lost 0.6 percent in overnight trade with Global Markets finishing across the board lower. The main driving force behind losses over the past 24 hours has again come out of Greece where EU finance ministers have pushed Greek Parliament for further reassurances that the full-extent of any potential bailout package will be [...]]]> The S&P 500 lost 0.6 percent in overnight trade with Global Markets finishing across the board lower. The main driving force behind losses over the past 24 hours has again come out of Greece where EU finance ministers have pushed Greek Parliament for further reassurances that the full-extent of any potential bailout package will be fully enacted. In what is shaping up as a nervous period for markets tensions remain at an all time high with concerns lingering that certain EU Nations no longer support notion of Greece remaining part of the Euro. In Currency movements, it was no surprise to see the 17-Nation Euro lose over half a cent against is US Counterpart in overnight action, having traded to an earlier high of 1.3190 it opens this morning lower at a rate of 1.3067. Jumping Across to the US, in minutes released from the Federal Reserve’s January Meeting a few members of the open market committee said that they support the notion of further asset purchases with the Central Bank also extending its pledge to maintain interest rates at a near-zero levels through until late 2014. With the Fed Reserve well and truly maintaining their subdued outlook for the world’s largest economy the US Currency also stopped take a breath overnight, opening unchanged against its US Counterpart this morning at a rate of 78.342.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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]]> http://best-forex-trading-signals.com/trade-reports/february-15-2012-forex-signals/feed 0 February 14, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-14-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-14-2012-forex-signals#comments Wed, 15 Feb 2012 02:26:00 +0000 Admin http://best-forex-trading-signals.com/?p=1702 The Dollar and Yen slipped against their higher-yielding counterparts yesterday, with the euro pushing back towards Friday’s highs after Greek Prime Minister Lucas Papademos won parliamentary approval for a series of austerity measures required to receive the country’s next tranche of bailout funds. The Euro rallied to 1.3280 against the Greenback and 103.15 against the [...]]]> The Dollar and Yen slipped against their higher-yielding counterparts yesterday, with the euro pushing back towards Friday’s highs after Greek Prime Minister Lucas Papademos won parliamentary approval for a series of austerity measures required to receive the country’s next tranche of bailout funds. The Euro rallied to 1.3280 against the Greenback and 103.15 against the Yen; however it proved nervous at these levels considering euro-area finance ministers still need to approve the release of funds when they meet on February 15. Paring gains throughout the North American session the single currency trades back around 1.3190 US Dollars and 102.35 Japanese Yen. Ahead today, Bank of Japan officials begin their monthly monetary policy meeting, to which the high value of the Yen is more than likely a scheduled topic. With the threat of a possible intervention in the back of investor minds, the Yen will face some additional downward pressure alongside the seemingly buoyant risk sentiment of late.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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]]> http://best-forex-trading-signals.com/trade-reports/february-14-2012-forex-signals/feed 0 February 12, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-12-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-12-2012-forex-signals#comments Mon, 13 Feb 2012 01:35:18 +0000 Admin http://best-forex-trading-signals.com/?p=1700 With markets in a risk-off tone on Friday, the Euro Dollar’s opening value of 1.3290 was the highest level seen of the day. Drifting towards 1.3280 throughout the Asian session, the shared currency was pushed lower against the US Dollar on a report showing China’s  exports and imports fell for the first time in two [...]]]> With markets in a risk-off tone on Friday, the Euro Dollar’s opening value of 1.3290 was the highest level seen of the day. Drifting towards 1.3280 throughout the Asian session, the shared currency was pushed lower against the US Dollar on a report showing China’s  exports and imports fell for the first time in two years. Information that growth in the world’s second largest economy may be weakening meant risk sentiment took a further hit and the Euro dropped to lows near 1.3240. Despite a brief attempt to pare losses into the start of the European session, a dramatic fall to 1.3170 came about as Greek vote to pass required austerity measures remained up in the air. As if markets weren’t skittish enough, newswires began reporting the resignation of five Greek politicians, however last minute reports that the Greek cabinet gave approval for new budgetary laws to be submitted helped the Euro salvage some ground. Closing the week on a rally, the single currency feel just short of 1.3200 however we open this morning at 1.3205. Against the Japanese Yen, the Greenback held onto most of its previous day’s gains despite a widening in the US trade deficit and a weakening in consumer sentiment; the pair open this morning at 77.60.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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]]> http://best-forex-trading-signals.com/trade-reports/february-12-2012-forex-signals/feed 0 February 9, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-9-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-9-2012-forex-signals#comments Fri, 10 Feb 2012 01:20:01 +0000 Admin http://best-forex-trading-signals.com/?p=1698 European Stocks rose overnight after Greek Leaders finally agreed to reforms on austerity measures needed to secure a second rescue package and avoid default on its existing debt payments. Whilst an agreement was reached out of Athens the market’s reaction was relatively muted given the financial package still needs to be ratified by European Financial [...]]]> European Stocks rose overnight after Greek Leaders finally agreed to reforms on austerity measures needed to secure a second rescue package and avoid default on its existing debt payments. Whilst an agreement was reached out of Athens the market’s reaction was relatively muted given the financial package still needs to be ratified by European Financial Leaders this evening in Brussels where powerbrokers are set to meet.  In an overall positive session for the Euro, the ECB also meet overnight which saw the Central Bank keep the official cash rate unchanged at 1 percent. Whilst ECB President Mario Draghi did state the economic outlook for the 17-Nation region remains subject to high uncertainty and downside risk,  he did remain tight lipped when questioned on the Central Banks intentions to help Greece reduce its debt. In a very busy 24 hours the EURO did manage to find some upside against its US Counterpart, briefly touching a 2 month high of 1.3321 as it opens noticeably stronger this morning at a rate of 1.3289. Meanwhile jumping briefly across to the US, in further signs the US Labour Market is also stabilizing weekly unemployment claims came in well below expectation helping the Greenback sustain its recent appreciation against the Japanese Yen as it opens firmly above the 77.50 handle, currently swapping hands at a rate of 77.620.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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]]> http://best-forex-trading-signals.com/trade-reports/february-9-2012-forex-signals/feed 0 February 8, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-8-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-8-2012-forex-signals#comments Thu, 09 Feb 2012 01:42:06 +0000 Admin http://best-forex-trading-signals.com/?p=1696 In what was much of the same for markets overnight, it was again concerns out of Greece which had investors holding their breath hoping for some type of resolution. Global Stocks and US Treasury’s almost stood still overnight which resulted in an overall subdued session around the Globe. Given the Greek Cloud which has formed [...]]]> In what was much of the same for markets overnight, it was again concerns out of Greece which had investors holding their breath hoping for some type of resolution. Global Stocks and US Treasury’s almost stood still overnight which resulted in an overall subdued session around the Globe. Given the Greek Cloud which has formed over markets, the 17-nation EURO remained directionless in overnight trade, ranging between (1.3220 – 1.3287) against its US Counterpart. Opening this morning at a rate of 1.3263, markets are set to heat up this evening where the ECB is due to meet to discuss their current Monetary Policy Stance. Whilst it’s wildly anticipated that the Central Bank will keep interest rates on hold at 1 percent any further break-down in talks between Greek PM Lucas Papademos and Coalition Leaders could potentially derail the current strength of the 17-Nation currency with strong resistance already being established around the 1.3330 handle. Meanwhile this morning in what was uneventful session in the US, the Greenback opens stronger against the Japanese Yen currently trading at a rate of 77.023.

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]]> http://best-forex-trading-signals.com/trade-reports/february-8-2012-forex-signals/feed 0 February 6, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-6-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-6-2012-forex-signals#comments Tue, 07 Feb 2012 01:38:50 +0000 Admin http://best-forex-trading-signals.com/?p=1694 Following a five week advance for the S&P 500 Index, US Stocks dropped yesterday amid ongoing concerns that Europe’s debt crisis is set to again worsen. In what is turning into a very long-winded process German Chancellor Angela Merkel voiced publicly her concerns over Greece, emphasising the fact that time is now running out to [...]]]> Following a five week advance for the S&P 500 Index, US Stocks dropped yesterday amid ongoing concerns that Europe’s debt crisis is set to again worsen. In what is turning into a very long-winded process German Chancellor Angela Merkel voiced publicly her concerns over Greece, emphasising the fact that time is now running out to find a solution. With political leaders set to resume meetings this evening significant downside for the 17- Nation Euro remains a distinct possibility should leaders fail to meet the conditions of a 130 billion-euro bailout. Still in Europe, German Factory orders for the month of January surprised on the upside growing by 1.7 percent helping the EURO reach an overnight high of 1.3140 against its US Counterpart, opening this morning at a rate of 1.3125.  In what is shaping up as an eventful evening, whilst Greek talks are likely to dominate risk flows US Fed Reserve Chairman Ben Bernanke is due to testify on the economic outlook and federal budget situation before the Senate tonight with traders keen to see whether the central banks bearish stance will remain. Meanwhile this morning there has been a slight move back into the Greenback with the US Currency opening stronger against the Japanese Yen this morning at a rate of 76.559.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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]]> http://best-forex-trading-signals.com/trade-reports/february-6-2012-forex-signals/feed 0 February 2, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-2-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-2-2012-forex-signals#comments Fri, 03 Feb 2012 02:20:15 +0000 Admin http://best-forex-trading-signals.com/?p=1692 Despite Greece failing to reach an agreement with its private sector bond holders, the Euro Dollar appears hesitant to break from its current ranges against the Greenback. Whilst disappointment as to the lack of progress caused the single currency to fall to intraday lows of 1.0390, anticipation of tonight US Non-Farm Payrolls kept hesitant traders [...]]]> Despite Greece failing to reach an agreement with its private sector bond holders, the Euro Dollar appears hesitant to break from its current ranges against the Greenback. Whilst disappointment as to the lack of progress caused the single currency to fall to intraday lows of 1.0390, anticipation of tonight US Non-Farm Payrolls kept hesitant traders within recent ranges. With what we could see as a prelude to tonight’s key employment data, unemployment claims in the US fell by 12,000, more than the 6,000 drop that was anticipated. Investor sentiment picked up on the news, along with an increase in Nonfarm Productivity and Labor Costs, sending the Greenback lower on demand for riskier assets. The Euro trades this morning back at 1.3140/50 and the Japanese Yen has risen back towards highs at 76.15.

Now, on to our open positions and new trades. Lets take a look at the specifics:

Open Orders

 

Pair Action
EUR/USD No changes. Consider adding 20 pip trailing stop. Currently down 50 pips.
GBP/USD
USD/JPY
USD/CAD
AUD/USD
USD/CHF No changes. Currently down 20 pips.

 

New Orders

 

Pair Order Entry Stop Loss Profit Target
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
USD/CHF

All Pending type orders are only good for the day. Set the pending order to expire within 24 hours.

Use the Lot Size Calculator to determine lot size. In general, never risk more than 2-3% on a single trade, but that also depends on your own personal trading strategy and risk management.

 

EURUSD:  Still holding our short position, it appears as if the reversal back to the downside may have renewed. We are looking at indications that the price may continue back down, but we want to protect ourselves as much as possible from excessive losses. We are considering moving the trailing stop to just 20 pips to lock in the profit zone earlier. However, with current indications, we may see the pair drop and continue down toward our profit target. While this looks like it may move down, we would not open any new position on this pair today.

 

 

GBPUSD:  The price did turn as we thought, but only toward the bottom of the upward channel. Before we can take a short position on this pair, we need to see it break out of the channel with strong indications of a solid push down. No trade tonight.

 

 

USDJPY:   The Yen seems to have completely stalled into a potential sideways trend. The Doji star yesterday shows great indecision between the buyers and sellers. We aren’t ready to call this a potential reversal yet, as it could just be consolidation before a renewed move down, or it could just stall for several days trading sideways. No trade today.

 

 

USDCAD:  The pair didn’t break out below support, and looks like it may be moving back up into its previous sideways levels.  If the sideways trend holds, there will only be a small recovery and not very good trading potential. No trade today.

 

 

AUDUSD:  Yesterday’s indecisive trading created a Spinning Top candle. This shows great indecision and potential stalling or reversal tendencies. Of course, without confirmation of a reversal, the upward channel is still intact. We are going to hold off until a better indications is revealed.

 

 

 

USDCHF:  We are seeing a potential rebound back to the upside. We are showing medium term indications that the pair may be ready to continue moving back up. We are going to hold on to our current open position, however, we would not consider placing any new trades on this pair today.

 

 

 

]]> http://best-forex-trading-signals.com/trade-reports/february-2-2012-forex-signals/feed 0 February 1, 2012 Forex Signals http://best-forex-trading-signals.com/trade-reports/february-1-2012-forex-signals http://best-forex-trading-signals.com/trade-reports/february-1-2012-forex-signals#comments Thu, 02 Feb 2012 02:53:59 +0000 Admin http://best-forex-trading-signals.com/?p=1690 The US Dollar has fallen against all but 3 of its major trading partners after a wave of positive manufacturing was released in succession around the globe. Starting in the Asian session, China’s manufacturing sector unexpectedly expanded in the month of December; In Europe, its region’s PMI hit a five-month high of 48.8, up from [...]]]> The US Dollar has fallen against all but 3 of its major trading partners after a wave of positive manufacturing was released in succession around the globe. Starting in the Asian session, China’s manufacturing sector unexpectedly expanded in the month of December; In Europe, its region’s PMI hit a five-month high of 48.8, up from December’s reading of 46.9; and the much anticipated ISM manufacturing PMI report from the States came in 0.2 above the previous month at 54.1. With manufacturing levels beating expectations in three of the world’s largest economies, risk sentiment burgeoned and the Euro Dollar raced to levels above 1.3200; the only set back being a smaller than predicted number of job increases in US non-farming industries, according to a survey by private company ADP. The Japanese Yen also rallied against the Greenback, falling to within one Yen of post war highs and levels as to which markets would expect an intervention by the Bank of Japan. Touching 76.02 the safe haven pair now trade at 76.20 after US manufacturing provided the US Dollar some support. The Euro currently buys $1.3160.

Now, on to our open positions and new trades. Lets take a look at the specifics:

Open Orders

 

Pair Action
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
USD/CHF

 

New Orders

 

Pair Order Entry Stop Loss Profit Target
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
USD/CHF

All Pending type orders are only good for the day. Set the pending order to expire within 24 hours.

Use the Lot Size Calculator to determine lot size. In general, never risk more than 2-3% on a single trade, but that also depends on your own personal trading strategy and risk management.

 

EURUSD:  This is a tough call. The pair may see some strength and continue to move up. But strong recent resistance at the 1.3230 level concerns us as the price keeps bouncing down off of it. Due to the extremely risky position of trading this pair today, we are holding off for better opportunities.

 

 

GBPUSD:  As we mentioned yesterday, there are still short term indications of a continued move upward. There is little potential resistance until the 1.5920 range, but that is only about 70 pips away. Given the long strong push up over the last few weeks, we are looking to see some major consolidation. However, the pair seems to be on a free run upward as the Eurozone continues to deteriorate and show strong news littered market sentiment changes. While the price shows strong indications of a continued run up, we are holding off due to a potential rebound or consolidation in the short to medium term trading.

 

 

USDJPY:   There is still a continued slowing of the downward move on the Yen. We see it approaching all time lows. It is moving into the range that will likely trigger a BOJ response and intervention, just as it did back in October. We definitely don’t want to be on the wrong end of that trade. We are going to hold off trading this pair until it drops down a bit more, and we hear more rumors of a BOJ intervention. If the price keeps dropping as it has, that may come in the next few days or early next week.

 

 

USDCAD:  A nice push down yesterday may be the indication we need that the pair is ready to break out down.  We are not sure how much downward potential there is on this trade. We are going to wait and see if the price does break down. If it confirms, we may enter a short position tomorrow. If it bounces back up, then we will have to re-evaluate.

 

 

AUDUSD:  The upward channel is still intact. The price is at new highs since October of last year, and very near topping those as well. We may see it bounce back down. There is a long term resistance level that the price is reaching. If it breaks above that line we may consider entering on strength to the next higher level. We are concerned that it will bounce back down, or given certain news reports coming out of Australia tomorrow, it may cause erratic trading or a potential drop. We are going to hold off for tonight.

 

 

 

USDCHF:  A strong Bearish Engulfing pattern has developed. But we see the bottom of the trading over the past day not drop below support at the 0.9110 range. If the bearish engulfing pattern confirms and the price drops below support and stays there, we may be able to get in on the next downward move. We will keep our eyes out and see if it drops down.

 

 

 

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