Currency trading
markets remain fairly illiquid through year-end trading, and market
conditions remain especially difficult to predict. Last week we saw the
US Dollar remain effectively motionless against the Euro, Japanese Yen,
and other major currencies. Yet the week’s open saw the US currency
drop substantially—leading to short-term breakouts in the Euro/US
Dollar and other major pairs. Unfortunately our trading signals were
not well-positioned for the breakouts, and the first day of forex
trading has proven challenging. We believe that illiquid market
conditions will continue to make for unpredictable price moves, and we
feel traders should manage risk accordingly until the resumption of
currency trading in the New Year.
Forex Trading Automated Systems Outlook
Our trading systems outperformed through the month of December, but end-of-year trading conditions have cut into otherwise accurate currency price forecasts. Our short-term outlook for our trading signals remains unclear; given illiquid currency trading market conditions, it is difficult to predict what currencies are likely to do in the week ahead. That being said, choppy price action tends to favor our Range and Breakout systems. On the one hand, poor price extension in choppy markets often produces good medium-term range trades. On the other, traders may take advantage of intraday breakouts to capture shorter-term price moves.
We maintain that major currency pairs will remain within their wide trading ranges through upcoming price action, and we will continue to favor longer-term Range1 trades and shorter-term Range2 signals. Yet recent price action has emphasized that volatility can return at any moment, and diversification across different trading systems may prove beneficial. We will update our stance on market conditions as price action dictates.
The live/real account is provided to those clients who may have some experience in the online trading.
The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
Fundamental Outlook for British Pound: Bearish
- 3Q GDP Revised to -0.6% from -0.5%
- British Pound Tests Record Low Against Euro
The British Pound continued its move towards parity against the Euro and slid lower against the U.S. Dollar ahead of the New Year, which suggests that investors remain bearish against the currency as
market participants widely expect the Bank of England to lower
borrowing costs even further in January. Nevertheless, financial
uncertainties paired with the ongoing downturn in the housing sector is
likely to stoke increased selling pressures for the currency over the
near-term as the economic calendar continues to reflect a dour outlook for growth.
The lowest interest rate since 1951 highlights the extraordinary efforts taken on by the central bank, and market participants anticipate policymakers to ease policy further as they do everything possible within their authority to mitigate the downturn in the economy. A Bloomberg News survey shows that 27 of the 38 economists polled anticipate BoE Governor Mervyn King and Co. to lower the benchmark interest rate by 50bp to 1.50% at the January 8th policy meeting. Meanwhile, weakening fundamentals have certainly dragged on the British Pound throughout the second half of the year, and the event risks scheduled for the following week could weigh on the currency as growth prospects deteriorate at a rapid pace. The BoE’s housing equity withdrawals index is projected to fall to -3.3B from -2.8B in the second quarter as a result of tumbling home prices paired with tightening lending practices, while consumer credit is expected to decline to 0.6B from 0.8B in October. As credit conditions remain far from normal, private sector spending, which is one of the biggest drivers of growth, is likely to remain subdued throughout the coming months, and would only heighten the downside risks for growth going forward.
From a technical standpoint, the British Pound is expected to remain range-bound in the week ahead, and should hold major trends against its currency counterparts over the near-term. Accordingly, as investors round-trip their open positions for the year, thin markets are unlikely to impel a drastic shift in trader sentiment, and the Sterling is likely to face headwinds ahead of the event risks scheduled for the coming week.
The live/real account is provided to those clients who may have some experience in the online trading.
[Opening an Account Online]
The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
Foreign exchange
currency trading is a risky business with much to lose and much to
gain. As a professional forex broker and personal trader, I have
realized the fast profits this market can reap, while witnessing the dog-eat-dog nature of the beast, in which buyers lose their shirts every minute.
Whether you are a forex trader or just curious about forex currency trading, you owe it to yourself to separate the wheat from the chafe. The Internet is awash in foreign exchange currency trading websites whose sole existences are dependent upon ignorant forex investors. From get-rich-quick forex software schemes to free forex training, forex educational seminars, free forex signals, forex forums, and more, the fraudulence that surrounds the FX trading market is frightening.
[ForexGen Introducing Brokers]
Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.
WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?
* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
*
Moreover, ForexGen IB is able to increase the spread for all or certain
clients and have ForexGen Investments rebate the difference.
In
case the IB does not increase the spread or charge their clients a
commission, ForexGen rebate the IB a minor predefined amount for every
client's executed lot.
Commission is paid out every month.
Individualized service
[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our
Introducing Broker program provides a highly organized program for
individualized services and organizations in order to introduce their
clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.
ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make [ForexGen]
incomparable to any other rival.
Dollar inches up against the euro in trading late Tuesday night
The dollar inched up against the euro late Tuesday night in New York. The 15-nation currency traded at $1.3963, down slightly from $1.3967 in late afternoon trading on Tuesday.
On Monday afternoon, the euro fetched $1.3958.
ForexGen offers three types of business partnerships:
*Introducing Broker
*White label
*Money Manager
ForexGen Introducing Brokers, White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a huge income sharing plan.
[ForexGen] provide appropriate services satisfying the needs of all business partner's specified situation and requirements.
British Pound Technical Outlook
The British Pound has found a short-term base against the US Dollar, holding highly-contested support near the psychologically significant 1.4700 mark. Its recent price formation likewise looks vaguely like an inverse head and shoulders pattern, and a break above 1.5500 would signal that a more medium term reversal is likely.
Shorter-term, the British Pound looks to challenge previous spike-highs at the psychologically significant 1.5000 mark.
Euro Technical Outlook
The Euro has stalled at significant resistance against the US Dollar, and we see further scope for Euro/US Dollar weakness through upcoming trade. After such dramatic US Dollar declines, we would expect to see similarly sharp corrections. A reversal at the pair’s 61.8 percent Fibonacci retracement of its 1.6040-1.2330 decline and 200-day Simple Moving Average signals further dramatic advances are unlikely.
The very short term shows that the Euro/US Dollar has thus far held short-term intraday lows of 1.3825, but a break below signals that a move towards previous lows near 1.3600 is likely.
[ForexGen Demo Accounts Contest]
Win Cash Prizes
[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.
Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name:
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Also provide us with the following identification document:
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For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com
Reversal of fortune: Big winners of past years were bigger losers in 2008
As 2008 ends, you may feel like the year's biggest loser is you.
If
you have a job, it probably feels shaky. If you have a 401(k), you
can't bear to open the statements. If you bought a house in the last
five years, you feel like a sucker (unless you were the winning bidder
at a foreclosure auction).
It's cold comfort to know that the
financial crash upended everyone -- calloused Maine lobstermen,
french-manicured San Diego real estate brokers, Rolex-wearing Greenwich hedge fund managers.
High
diesel prices as the year began ran independent truckers off the road.
Soaring summer commodity costs choked businesses from bakeries to
airlines. Frozen credit markets left small business owners dialing
their moms for loans.
Many of the biggest winners of the past lost their shirts in 2008.
The
kings of Wall Street watched as their banks either disappeared through
mergers or bankruptcy or received injections of tax dollars to stay
alive. The congressmen who once hung on Alan Greenspan's every
indecipherable utterance turned hostile, as the once-revered oracle was
reassessed, and found to be an oaf. Investors who had trusted Bernard
Madoff with $50 billion saw the money manager who had given them steady returns for decades admit it was all a Ponzi scheme.
The financial hurricane made the winners stand out even more.
Hedge
fund manager John Paulson made billions by betting against the housing
boom. Economist Nouriel Roubini and money manager Peter Schiff, who'd
been laughed off as economic Cassandras,
were proven right as their dire predictions came true, again and again.
Despite conventional wisdom that the labor movement is near death,
Boeing Co.'s machinists union flexed its muscle during an eight-week
strike.
Some winners and losers don't bear explanation -- renters
win, owners lose; retirees with old-fashioned pensions win -- for the
time being -- while those with 401(k) plans lose. Florida, California
and Nevada lose on home price depreciation, Michigan and Ohio lose on
jobs, and nearly every state seems likely to lose tax revenue.
The year's many losers and scant winners are below, listed by group:
LOSERS: Gamblers
Rich men who made big bets used to be lionized. Not this year.
One
billionaire beset by debt was Sumner Redstone, who held a fire sale,
selling $233 million of his CBS Corp. and Viacom Inc. stock as he
struggled to restructure $1.6 billion in debt. He also sold his
majority stake in Midway Games Inc., which makes "Mortal Kombat" video
games, for $100,000 -- less than one-one-hundredth of a penny per share.
Sheldon
Adelson, billionaire majority owner of the Las Vegas Sands Corp., also
got himself in trouble with debt. The company's expansion into
overheated Macau failed to pay off and gambling revenue dropped in the
recession, forcing he and his wife to come up with $475 million of
their own money to pay down some of the company's $9.21 billion in
long-term debt. Shareholders are still waiting for a rescue: The
company's shares have lost about 95 percent of their value this year.
Some
bets were personal. Aubrey McClendon, CEO of Chesapeake Energy Corp.
was forced in October to sell almost 95 percent of his holdings --
representing more than a 5 percent stake in the natural gas giant -- to
meet a personal margin call. His fire sale of more than $570 million
worth of stock pressed share prices lower.
LOSERS: Private equity kings
Private
equity champ Edward Lampert looked smart when he bought Kmart out of
bankruptcy, then began selling off its real estate. Wall Street
anticipated another success when he scooped up Sears. It hasn't turned
out that way. While Lampert is great at selling off a company's pieces,
he's less great at the fundamentals of retail: selling more lawnmowers,
bath towels and sweaters. Sears Holdings Corp. lost $146 million in the
most recent quarter, the stock is down about 60 percent for the year
and the company is still searching for a chief executive, nearly a year
after its last CEO resigned.
Likewise, real estate mogul Sam Zell
burdened Tribune Co. with $13 billion in debt when he bought the
company last year, leading it to file for bankruptcy in December. While
he blamed the economy, employees and observers blamed him.
"We knew
he was going to take this business under," said Philip Gregory, a
lawyer for a Los Angeles Times auto critic and five former newsroom
employees who sued Tribune in September over Zell's takeover. "Of
course he's blaming the market, but it's really the $13 billion in debt
that he brought into the business."
LOSERS: Pollyannas
Jerry
Yang, Yahoo Inc.'s chief executive, kept waiting for Microsoft Corp. to
offer a better price than $47.5 billion for Yahoo. It never happened.
Instead, Yahoo's stock sagged near five-year lows, making his refusal
look less like an effort to get the best price for shareholders and
more like excessive optimism. Yang said in November that he'd step down
and Yahoo, in December, overhauled its severance plan in a move that
would save a buyer somewhere between $462 million and $2.1 billion.
Former
Texas Sen. Phil Gramm, also a vice chairman of Swiss Bank UBS, made
headlines -- and enemies -- in July, when he said the U.S. was in "a
mental recession."
"We may have a recession; we haven't had one
yet," said Gramm, who was, at the time, an economic adviser to
presidential candidate John McCain. "We have sort of become a nation of
whiners."
LOSERS: U.S. automakers
The CEOs of the Detroit Three went to Washington to beg for billions in bailout money. But it wasn't on their hands and knees.
As
new car sales cratered, the group flew private jets to D.C. in November
to ask for billions in bailout money. Worse, they came without a plan.
After
they drove to Washington for a repeat visit, the Senate quashed a
bailout, but the Bush administration approved a $17.4 billion rescue
loan.
"Allowing the auto companies to collapse is not a responsible course of action," Bush said.
WINNERS: Cassandras
As markets plummeted, the dourest economic observers gained respect.
Nouriel
Roubini, a New York University economics professor, said in 2006 that
the worst recession in four decades was on its way. He predicted that
mortgage defaults would spread, investment banks would no longer exist
in their current form and Fannie Mae and Freddie Mac would tumble.
Peter
Schiff, president of Euro Pacific Capital, has been saying for years
that the economy was built on too much consumption and not enough
saving. "The disease is all this debt-financed consumption," he said on
a 2006 CNBC appearance. "The cure is that we stop consuming and start
saving and producing again. That's a recession. Sometimes, medicine
tastes bad, but you gotta swallow it."
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
We
consider every client as a special case, a VIP and a partner. A
client's profit is our success and a client's loss is a significant
call of action for us. Customer care is the heart of our business, we
know every client on personal bases as we provide 24/7 customer support.
We
keep contact with our clients to ensure that we are on the right track.
Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.
Swiss Franc Technical Outlook
The
USDCHF nearly dropped below 1.04 this morning. Potential trendline
support drawn off of the March and July lows may provide the demand
needed to inspire a rally / consolidation.
BB difference has exceeded the level that was reached at the height of the early 2008 decline that saw the USDCHF plummet below 1. The implications are that the decline is stretched and that at least a retracement is due.
Euro Technical Outlook
This is truly an historic month (and year for that matter) for the EURUSD.
At this point, the EURUSD has rallied over 15% for the month. The
record rally in % terms for one month is about 11%, and that was in
February 1973! The month is not over and the pair could come off
substantially in these market conditions.
The EURUSD sliced through 1.4 (50%) and 1.45 (61.8%) like a warm knife through butter and is now putting the 200 day SMA (red line) to work. The diagonal line on the chart is the former long term support line drawn off of the February 2002 and March 2006 lows. That line crosses 1.4776 today and increases about 6 pips per day. Worthy of note is that Bollinger Band difference is higher than it was during the strongest part of the previous decline. If anything, this suggests that at least a range should take hold soon.
[ForexGen Introducing Brokers]
Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.
WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?
* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
*
Moreover, ForexGen IB is able to increase the spread for all or certain
clients and have ForexGen Investments rebate the difference.
In
case the IB does not increase the spread or charge their clients a
commission, ForexGen rebate the IB a minor predefined amount for every
client's executed lot.
Commission is paid out every month.
Individualized service
[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our
Introducing Broker program provides a highly organized program for
individualized services and organizations in order to introduce their
clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.
ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make [ForexGen]
incomparable to any other rival.
Forex trading
is the largest financial market in the world. The last twenty years the
Forex market boomed to incredible heights. The rising amount of
internet users supported the development of the Forex market. Forex is an abbreviation of Foreign Exchanges. Forex is often abbreviated as Fx.
Forex
trading is fun and with a little practice, perception and experience
trading Forex can be very lucrative. Forex trading is all about
speculating on changes in the exchange rates of currencies such as the
Dollar, Pound, Yen or Euro. Most often Forex traders develop a greater
awareness of world news. After all, changes in the world, mean changes
in the exchange rates.
Forex Trading is your partner when it comes to Forex trading. We admit the importance of choosing the right Forex broker. Read our extended Forex broker reviews to find the Forex trading broker that suits you the best.
Basics Forex trading Foreign currencies are
always traded in pairs. Example: (USD / EUR) (GBP / EUR) (JPY / USD)
The first currency is called the 'base' currency, the second is called
the 'counter' or 'quote' currency. When a pair is listed as: (EUR /
USD) the Euro is the base currency and the US dollar is the counter
currency.
The US dollar is a world leading currency, therefore it's listed as a base currency more than any other currency.
Currencies are quoted in the following way:
• EUR / USD 1.4958
This
quotation means that 1 Euro can buy 1.4985 US dollar. If the base
currency's value would rise in comparison with the counter value, one
Euro could buy more US dollars. We call this an increasement of the
quote. When the opposite would take place, it's what we call a
decreasement of the quote.
Client Services
[Customer Support]
[Trading Support]
ForexGen offers three types of business partnerships.
* [Introducing Broker]
* [White Label]
* [Money Manager]
ForexGen
Introducing Brokers ,White Label and Money Manager holders are
recognized as a strategic business partners. The main focus of our
service is to satisfy our partner's needs in order to deal with a
qualified service and gain a large income sharing plan.
[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.
ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make ForexGen
incomparable to any other rival.
Tuesday, December 16, 2008 New housing starts and permits plunged to record lows in November, as long-standing problems in the housing market continued to weigh on the U.S. economy, a Commerce Department report showed on Tuesday.
Housing
starts fell 18.9 percent to a seasonally adjusted annual rate of
625,000 units from 771,000 units in October. That was much less than
the 740,000 starts Wall Street analysts expected for November.
To trade on the forex market, the largest financial market on the planet, one must use a forex broker competition. Not unlike a stock broker, a forex broker competitive can also makes suggestions about which moves to make when exchanging foreign currency. Some forex broker's competition even supply technical analysis to some of their clients and offer tips on research to improve their success as forex traders.
Typically in the forex market a forex broker competition is a banking institution who may buy up large amounts of a certain currency. For years, banks were the only ones who had access to the forex markets. But today with the Internet, any forex trader, who subscribes with a forex broker competition, can access the market 24 hours a day.
Today, as with stock brokers, the brick and mortar institutions, such as banks, are less of an option for the individual forex trader who works from home, monitoring the news and gaining insight into certain technical information to help with his or her trading decisions.
Choosing a forex broker competition may depend on your needs. If you are new to the field, there are houses, or forex brokers competitive who may cater to your needs, providing in-depth research, ample time to demo their product and so on. Other forex broker's competitions are geared toward the experienced online forex trader. They too offer advice, but may be less likely to offer instructional help with the information, assuming that you may already know how it may or may not benefit you when you read it. It is advisable to read about and even run a demo on several different online forex brokers before going with one.
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