Forex Jokes : Keeping secrets is out of fashion

The government of Switzerland will present a bill, which is aimed at improving the relationships with the Internal Revenue Service of the U.S.A. This measure will become a key point in the long-standing conflict over tax evasion by the U.S. citizens, who are holding accounts in the Swiss banks. Next week this law proposal will be brought before the Parliament and will enter into force approximately on July 1. The document will make the financial institutions to disclose information about their American clients to the U.S. authorities on condition that the interests of Switzerland are protected. In fact, that means that the banks will face multimillion fines for the assistance with tax avoidance. The total amount of fines may equal $7-$10 bln. The part of the amount will be paid by the country's government, and later the public money spent will be reimbursed by the banks. Currently, more than ten Swiss banks are involved in such law violation cases. The criminal investigation may be launched into thousands of Americans, who managed to hide their private incomes from the IRS by using offshore bank services. So, the Switzerland government is in a predicament now. On the one hand, the country sticks to the centuries-old tradition of non-disclosure. On the other hand, it has to react to the financial claims of the leading world power. The situation will clarify in the nearest future

Do you need a trading plan?

If you are serious about trading successfully on the international currency market, then you should work out a trading plan. Pay particular attention to it, as it is not just another chapter in a Forex trading guide book; on the contrary, it is a major trading tool.
If it seems the trading plan is useless and takes precious time, try not just to draw it up, but make corrections occasionally.
Statistics and statistical analysis are of great importance when trading on the Forex market.
Trading plan is a kind of statistics which reflects your actions in different circumstances. It is an algorithm of your work, which should be corrected due to market changes.
It is a trading plan that will help you to analyze situation promptly and take right decisions.
You should remember the basic stages in plan-making process:
1. Observe the economic news and collect relevant information.
2. Make a plan.
3. Keep to the trading plan.
4. Analyze you work according to the plan.
5. Correct the plan.
Trading is a job, a sort of business, and business without a plan will not bring fruitful results.

Forex News : YEN and USD signal for this week

U.S. Dollar Rises To 4-day High Of 102.00 Against Yen

BOJ offers to buy 400 bln yen in commercial paper (CP) from 5/31

The U.S. dollar gained ground against other major currencies in early Asian deals on Tuesday. The greenback hit a 5-day high of 1.2883 against the euro, 4-day highs of 1.5063 against the pound, 0.9686 against the franc and 102.00 against the yen. If the greenback rises further, it may find resistance level around 1.27 against the euro, 1.49 against the pound, 0.98 against the franc and 103.00 against the yen.

Forex Jokes : Races

Soros and a Bernanke went to the races. Soros suggested to bet $10,000 on a horse. Bernanke was sceptical, saying that he wanted first to understand the rules, to look on horses, etc. Soros whispered that he knew a secret algorithm for the success, but he could not convince Bernanke.
Soros: You are too theoretical, he said and bet on a horse. Surely, that horse came first bringing him a lot of money. Triumphantly, he exclaimed: I told you, I knew the secret!
Bernanke: What is your secret?
Soros: It is rather easy. I have two kids, three and five year old. I sum up their ages and I bet on number nine.
Bernanke: But, three and five is eight,
Soros: I told you, you are too theoretical! Soros replied, “Haven't I just shown experimentally that my calculation is correct?!”

Forex analysts 22 Mei 2013

GBP/USD - Fractal support at 1.5081 - for May 21, 2013 (daily strategy)

Today after the release of the UK inflation report, the British pound has fallen. It grew less than expected, making stumbling to the British currency to its lowest since April 4. In the medium term the pound remains a downward trend that could be extended to the 1.48 area. Now, in the short term there a support on the daily fractal is at 1.5081. This level will be the immediate support that could push it up, so we expect that upward bounce is in this area. Therefore, we recommend buying this level with targets to 1.5335 fractal.


If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

AUD/USD - Key level of 0.9818 - for May 21, 2013 (daily strategy)

Forex News : Australian Economy may have developed a Classic Case of 'dutch Disease'

Quotes from Standard Chartered: 

- We expect a slowdown in the Australian economy, after the mining investment peak, to weigh on the currency. As a result of its reliance on mining, the Australian economy may have developed a classic case of 'Dutch Disease'. This is where a boom in natural resources creates distortions in the domestic economy and contributes to a significant appreciation of the real exchange rate. 

- As a result, other sectors have grown increasingly uncompetitive as labour costs increase while profit margins get squeezed. The risks posed by this two-speed economy could become more troubling if we see no sustained signs of a pick-up in non-mining growth in the coming months.

USD/JPY level teknik intraday untuk 21 Mei 2013

Level teknik hari ini: 

Resistance 3: 103.16. 

Resistance 2: 102.96. 

Resistance 1: 102.76. 

Support 1: 102.51. 

Support 2: 102.31. 

Support 3: 102.11. 

Deskripsi: 

Perhatikan level support 3 (102,11) dan resistance 3 (103,16). Biasanya saat level dicapai USD/JPY akan naik dari level minimum sebelumnya 10-20 pip, namun jika level ditembus lebih dari 50 pip, maka akan menjadi tanda bahwa mata uang tersebut telah menemukan tren hari ini. 

Best regards,

USD/JPY level teknik hari ini untuk 20

Show full picture Level hari ini:
Resistance 3: 103.36.
Resistance 2: 103.16.
Resistance 1: 102.95.
Support 1: 102.71.
Support 2: 102.50.
Support 3: 102.30.

Deskripsi: 
Perhatikan level support 3 (102,30) dan resistance (103,36). Biasanya saat level dicapai, USD/JPY akan naik dari level minimum sebelumnya sebanyak 10-20 pip, namun jika level ditembus lebih dari 50 pip, maka akan menjadi tanda bahwa pasangan telah menemukan kecenderungannya hari ini.

Forex News : Yen bounce back as Japan indicates negative effect from further losses

The yen bolster against all 16 major counterparts after Japan’s Economy Minister Akira Amari said further losses in the currency would threaten to negatively affect people and the government’s job is to minimize that. The yen decline from near its worst in more than four years against the greenback after Amari said yesterday there’s speculation the Japanese currency’s past strength has “been corrected a lot.” Wagers the dollar will gain versus the euro and yen bolstered last week amid bets the Federal Reserve will signal a tapering of bond purchases. New Zealand’s dollar strengthened as its finance minister said home price gains will pressure the Reserve Bank to raise interest rates.
“The market has been spooked by official suggestions the bulk of the yen depreciation may be behind us,” said Mike Jones, a currency strategist at Bank of New Zealand in Wellington. “Speculative longs in U.S. dollars have crept up to extreme levels and the comments sparked a dash for the exit.” A long position is a bet a currency will rise.

Forex News : Japan Upgrades Economic View Amid Export Recovery

The Japanese government on Monday upgraded its assessment of the economy for the first time in two months, as a weak yen helped revive the country's exports and factory output.

"The Japanese economy is picking up slowly," the Cabinet Office said in its May monthly report. This was an upgrade from previous month's assessment when it said that economy was showing "signs of picking up while weakness can be seen in some areas.

" Exports are showing signs of picking up and industrial production is slowly gathering pace, today's report said.

fxopen - Forex Analytics: AUD/USD Forecast 20 May 13

AUD/USD Forecast 20 May 13

May 18th 2013, 07:41

Simultaneous Release at
TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.
Good day forex traders and readers.
In the previous AUD/USD forecast we noted ongoing bearish pressure. A bearish target would be 0.98+. Resilience of the Australian economy might be weakening.

Technical Analysis
Looking at the AUD/USD daily chart above we note that the currency pair was strongly bearish for the week. The bearish target of 0.98 + was hit and I would like to congratulate the traders who had short positions.
There are no apparent signs of a weakening bearish momentum although RSI suggests an oversold situation. If the bearish momentum continue, we may be looking at a bearish target based on a previous low point of 0.95 + .
Don't miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.

News Today : EUR/USD: Daily H&S pattern about to be triggered

Sumber : fxstreet.com
The strong bearish momentum seen in EUR/USD this week, has put the pair under risk of massive selloff as price is approaching a key support level, the neckline of a H&S figure around 1.2750. Considering the fact that the year low is at 1.2744, and therefore stops below should be large, a break lower should be the kick start of another round of dollar demand against the Euro.

The figure height is of around 950 pips, which means the target comes at 1.1800!! However, don’t get too excited about it: price did not manage yet to break lower, and to anticipate a 950 pips straight fall seems way too boldly. Besides if that actually happens, it will take at least a couple of months to achieve the target.

However, a daily close below 1.2740 should put traders on alert, and even close to panic, and the rally will likely accelerate towards its immediate target of 1.2660, November 2012 monthly low. FED Minutes next week and the possibility or not of tapering QE, will have the final word on the matter. Sustained losses below 1.2660, will expose then 1.2430/70 area, where the pair presents several monthly highs and lows since October 2008.

View Live Chart for EUR/USD

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Salam
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