USD-JPY still Y85-bound

The chart attached shows the USD staging something of a recovery against the JPY. I see this as a short term recovery. So short term in fact that I think as we go into today's trading I am expecting the USD will be sold off. Why? Because the USD has retraced to the previous resistance level it breached. The next major support is Y85. It will go to that level because the market knows that in an election...

EUR-USD heading for USD1.70

Looking at the chart its apparent that the EUR-USD is going to USD1.70, at which point it will do a double bottom. I would then expect it to return back to its normal trading trade. The technical reasons for this are the strong symmetry evident in the chart. The USD has a 'parityband' between USD1.20-1.35 and has traded within 35c of that band. I am sure the market will be looking to retain that symmetry....

AUD-USD set to break resistance at 95c

Looking at the AUD-USD its readily apparent that the AUD is not about to fall back as many pundits are suggesting. In fact I would suggest its building momentum for an assault on 'parity' with the USD. Clearly breaking resistance at 95c is the next hurdle.I have already suggested my reasons why. The only reason for thinking this would change is one factor only - the strong inflation numbers. But I...

How To Start An Automated Online Forex Trading System (3)

Here we are, the main part of Automated Online Forex Trading System. This is the brain of all components… like the driver of a car. Until this post, we already knew about reliable VPS for traders and how to select a broker for automated trading. I hope you already understood those previous articles, so this main section would be easy to follow. Ok, I will explain how to choose a good, safe, and...

Do you have what it takes to become a successful Forex Trader?

Forex trading, or any trading for that matter, is an occupation that requires experience and the accumulation of proficiency not unlike any other highly skilled profession. Whether you are a leading executive at a major publically traded company, a professional golfer or trading from your kitchen table, there are 5 key ingredients that one must possess in order to become successful.1. You must be...

How To Start An Automated Online Forex Trading System (2)

In previous post, I have explained about reliable VPS. After choosing the right one, then we are going to the next step. This time we will select some good forex broker companies that suitable for Automated Forex Trading. Why do I choose this topic? That’s because not all forex brokerage are using a same trading platform. There are Meta Trader 4, Ninja Trader, Virtual Trader (VT), Trading Stat...