Forex News

15.03.2011

ForexYard has recently been acquired by SafeCap Investments Ltd., a regulated EU investment firm. As of today, ForexYard is now trading under a full European License.  All traders will be notified of the new trading platforms available (including the market leader MetaTrader4) and the new products and instruments they can trade from today.

 

04.03.2011
Here is the AVA FX March promotion valid until March 15th 2011. This will be a promotion for new accounts only.
Details are as follows:

Minimum Deposit	FREE Bonus
$/€300	$/€150
$/€1000	$/€300
$/€3000	$/€750
$/€10000	$/€1500
$/€50000	$/€3000

*Offer is valid until March 15th 2011
*Offer is valid for new accounts only.
*Terms and condition apply.

 

08.02.2011

One of the greatest features at eToro is the OpenBook platform. With this innovative tracking system, you have the ability to follow the best traders in the community. The idea is to be able to learn how to trade by not only the traditional means, but by watching successful traders trade as well. This allows you to build profits while tackling the usual learning curve when starting to trade Forex.

 

09.11.2010

EURUSD
Monday, the German Office of Statistics announced a trade surplus of 15.6 billion euros in September, well above the consensus forecast of 12 billion euros, and also at the highest level since October 2008. This data provided evidence that the German manufacturers managed to enhance their export performance, despite the rise of the euro. This report may be considered as a positive sign, ahead of the release next Friday of the German preliminary Q3 GDP figures. However, it had limited impact on the EURUSD pair, which has returned to where it was before the Fed's intervention last Wednesday. Over the last trading session, the euro has suffered from a return of risk aversion towards weak Euro-zone members (most notably Ireland) as well as investors' defiance regarding a possible reform of the EU anti-crisis mechanism. In this context, the euro retreated from 1.3974 to 1.3855 and it is now to be determined whether this correction will be short-lived or lasting.
Support/Resistance:1.3800/1.3950
GBPUSD
Yesterday, the GBPUSD pair weakened against the dollar but managed to stay above the $1.6100 support level. More significantly, the pound resisted the bearish pressures on the euro, as shown by the drop of the EURGBP below the 0.8600 mark (a one-month low). Today, market participants will be watching in the UK the release of September’s industrial production at 09:30 GMT. Recent data have suggested that manufacturing output is accelerating in the UK, which could be a key support for GDP growth in the 4th quarter. Economists expect manufacturing activity to increase by 0.3% between August and September.
GBPUSD Support/Resistance: 1.6050/1.6175
EURGBP Support/Resistance: 0.8580/0.8645

08.11.2010

EURUSD
After reaching a high of $1.4280 on Thursday, the euro has been losing ground during the last two trading sessions to drop below the $1.4000 level. This sell-off has been triggered by increased uncertainties surrounding Ireland, after the Irish government announced last week that it had to introduce additional austerity measures to control its budget deficit. This intensified pressures on Irish government bond yields, which have widened to record against German bonds and have worried investors that Ireland might have soon no choice but to seek a EU-IMF bailout. Looking forward, investors’ attention will now shift from the US QE2 strategy to European debt ratios to assess whether the ongoing debt reduction programs are credible.
Support/Resistance:1.3865/1.4025
GBPUSD
Last week, the strong momentum of the pound was supported by strong activity surveys as well as further evidence that inflation pressures are building up. Friday, the Office for National Statistics announced that producer prices at factory gate rose 0.6% between September and October, reflecting higher food and energy prices. This is likely to put the Bank of England on the spotlight on Wednesday Nov.30, as it will update the market with its latest growth and inflation prospects. Any revision to the upward could indicate that BoE Policy members could slightly shift towards a more tightening stance and support sterling appreciation. However, should euro-zone sovereign worries resurface, the sterling could lose some its attraction at the benefit of safe-haven currencies (USD, JPY).
Support/Resistance: 1.6090/1.6210