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In this section, I go over few charts for British pound and explain how they indicate a good probability for the currency to further appreciate against the US dollar. However, in short term, it could pull back 1.6180, 161.40 and 1.6100. Read more
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The recent upward move of British pond (GBP) against US dollar since 12/28/10 from 1.5345 to a high on 2/13/11 at 1.6278m has raised the question whether GBP is able to continue its upward move towards 1.6720 price level. In this article, I seek an answer by taking a techno-fundamental approach. Accordingly, I review both fundamental factors and technical indicators to verify if GBPUSD currency pair can break out 1.6278 to reach at least 1.6720 price level.
Among major factors that influence the exchange rate price level are differentials of interest rate, inflation, and Gross Domestic product between two countries, US and UK. In this article, I analyze each of the afore-mentioned factors and project a probable future upward move for British pond against US dollar.
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Trend lines as powerful technical indicators could help you to identify possible trend reversals. Bu gauging trend lines angle slopes; you can recognize profitable trading opportunities. Furthermore, you can utilize trend lines speed alterations to implement a wide array of trading strategies. Read more
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Trend line is one of the powerful technical indicators, which offer a wide array of trading applications. In this article, I discuss a unique property of trend lines called Dual Property which can be utilized as a powerful trading tool and technical indicator. Read more
Here is the last trade executed by the Winning Edge Forex System – Automated Version. It was a long trade for Euro-USD from 1.3321 on Jan. 18, 2011. This long position was exited at 1.3440 on Jan. 18, 2011. A long trade for 119 pips profit. The system has been designed for TradeStation trading platform which could execute all signals, buy, sell, exit, and stop directly to one’s account.
A Recent Profitable Trade by Wes-Forex AV by Dr. Ned Gandevani
Posted in Trading Systems, Wes-Forex Automated Version
Euro-USD has moved up after making a low on Jan. 14, 2011. As the 100-min chart depicts the Winning Edge Forex System – Alpha2 was able to detect this profitable move and issued a long signal. Now, Euro-USD faces an important resistance at 1.345-1.350 price level. This was the same level WES-Forex-Alpha2 issued a short signal on Jan. 4, 2011. If market takes out this resistance level, we could see Euro reaching towards 1.38 and 1.42.
The daily chart for Euro-Dollar confirms my above assertion.
Euro-Dollar Daily Chart 1-18-2011
Posted in WES-Forex-Alpha2
An informative brief historical background about Forex markets. Read more
What is Forex Market? The Forex market is a financial instrument where one country’s currency is converted to another. This market is a tool which allows multi national companies to exchange currencies to facilitate international trade and financial transactions. In … Read more
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How to Use Standard Deviation for Profitable Investing?
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A stock price fluctuates up and down based on the company or economic news. It is difficult to ascertain with a high accuracy in the long-run the probable direction of a stock price. However, you can make some possible profitable … Read more »