Using the Dollar Index When You Trade Forex

When equity traders trade in the stock market they use an index like the Dow 30 or the S&P 500 to determine market sentiment. A substantial percentage of a move in a stock is based on the performance of the index at that moment. For those who Trade Forex the index that is used is… Read More »

Forex Market View for October 21, 2014

  Forex Market View for October 21, 2014 USD/CAD roaming near the mid-1.1200s. Overnight tops in the area of 1.1300 the figure to the present lower band of the range in 1.1240/35. The pair is down 0.41% at 1.1238 and, a break of 1.1234 would head for 1.1211. EUR/JPY has continued to back away from… Read More »

Forex Market View for October 20, 2014

Forex Market View for October 20, 2014 GBP/USD to the mid-1.6100s and posting new intraday highs at the same time. The pair has ran to break above the latest consolidative pattern around 1.6080/1.6100, making new multi-day highs near 1.615. This week, the BoE minutes will place the present upside to the test (Wednesday) ahead of… Read More »

Forex Market View for October 17, 2014

Forex Market View for October 17, 2014 Michigan Consumer Sentiment Index strengthened to 86.4 in October, from 84.6 recorded the preceding month. Janet Yellen talked about the extent and growth of income inequality in the US and asks whether this is consistent with American values.  She did not reference monetary policy. Gold presently trades at… Read More »

Forex Market View for October 16, 2014

Forex Market View for October 16, 2014 ECB Governing Council member Ewald Nowotny said that he detected a declining of the Eurozone economy. He advised that “it’s a stretch to say ECB is becoming an ABS bad bank.” In his view the central bank shouldn’t pre-commit on the total of ABS which it will buy… Read More »

Forex Market View for October 15, 2014

  Forex Market View for October 15, 2014 Current data revealed that retail sales weaken by 0.3% in September; a greater drop than the -0.1% expected; it was the first drop since January. Concerning inflation, the Producer Price Index fell 0.1% in September. US data is a slightly disappointing on initial reading with retail sales… Read More »