Forex Trading 101

Monday, March 8th, 2010
Recap: Overnight higher-yielders and growth linked currencies including the Aussie, Kiwi and Euro rose against the Dollar and Yen as equities were higher in Asia and Europe following the better than expected jobs reading in the US on Friday. Also, French President Sarkozy gave the markets some reassurance that EU nations would come to the aid of Greece following its austerity measures announced last week. In NY trading the Euro and Pound gave up their earlier gains as US stocks were flat giving a sense of risk aversion during the NY morning.

News Provided by FXTimes/CMS Forex

http://www.fxtimes.com

http://www.cmsfx.com

Analyst: Nick Nasad

Open up a free practice account and start trading Forex today.

Duration : 0:7:46

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Tuesday, March 9th, 2010
Recap: The Pound slid overnight as Moody’s said UK banks could suffer further write downs and Fitch warned that the UK sovereign credit profile deteriorated. The Euro was pressured by Fitch’s warnings on Portugal and Greece, and with commodities and equities down the greenback and Yen strengthened. Commodity currencies did however get a bounce in the NY morning session.

News Provided by FXTimes/CMS Forex

http://www.fxtimes.com

http://www.cmsfx.com

Analyst: Nick Nasad

Open up a free practice account and start trading Forex today.

Duration : 0:9:46

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Wednesday, March 3rd, 2010
Recap: The markets took well Greece’s proposal to further cut its budget by as much as $6.6 billion using spending cuts and new taxes. The Euro rallied and broke above the 1.37 level against the greenback. A strong US services report helped US equities to start the session higher and with oil pushing higher as well, risk appetite favored growth-sensitive currencies like the Canadian and Australian Dollars. The Pound was higher against the Dollar as well as it posted stronger than expected data on consumer confidence and services expansion.

News Provided by FXTimes/CMS Forex

http://www.fxtimes.com

http://www.cmsfx.com

Analyst: Nick Nasad

Open up a free practice account and start trading Forex today.

Duration : 0:9:54

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Go to http://www.SupaForex.com/ and get $1000 Bonus when you open a new forex account.

Start trading currency today with http://www.SupaForex.com/

The foreign exchange market (currency, forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. [1]FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.

Today, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements.[2] Since then, the market has continued to grow. According to Euromoney’s annual FX Poll, volumes grew a further 41% between 2007 and 2008.[3]

The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.

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Moneycorp offers daily commentary on the global currency markets.

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Ashraf Laidi’s “Currency Trading & Intermarket Analysis –How to Profit from the Shifting Currents in Global Markets”. Ashraf Laidi’s book is the first of its kind to explain in detail the meaning of risk appetite in currencies, commodities, equities, bonds and fixed income. In addition to its extensive historical overiew of the major historical developments in forex markets over the past 35 years, the book explores the interelationships among the various commodities, dissecting which currencies are driven by oil, gold, metals, and food/agriculture. www.ashraflaidi.com

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Watch more free Elliott wave videos here: http://www.elliottwave.com/wave/yt113007

The standard explanation mainstream financial analysts and some forex trading “experts” use when talking about a market move is, “The market did that because of such-and-such news report.” But if you’ve been forex trading long enough, you know that all too often, the market’s reaction to the news is the opposite of what it’s “supposed” to be. Watch Elliott Wave International’s Senior Forex Trading Strategist, Jim Martens, as he explains that it’s not the news that matters when you’re trading forex — it’s the market’s reaction to the news that does — in this 10-minute forex trading video using the U.S. Dollar Index, Euro / Dollar and Dollar / Pound (cable) charts as examples.

Watch more free Elliott wave videos here: http://www.elliottwave.com/wave/yt113007

Duration : 0:10:55

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