2 posts tagged “forexgen live account”
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.
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