Canadian Dollar: The Canadian dollar dropped from the highest level in 2009 versus the euro as stocks did not manage to extend the advance reached in the beginning of the week, forcing the currency down also versus its U.S. counterpart.

After touching the highest level versus its U.S. counterpart in [...]]]>

Canadian Dollar Drops on Oil, Stocks Performance

Canadian Dollar: The Canadian dollar dropped from the highest level in 2009 versus the euro as stocks did not manage to extend the advance reached in the beginning of the week, forcing the currency down also versus its U.S. counterpart.

After touching the highest level versus its U.S. counterpart in two months, the loonie started to decline yesterday and extended its losses today as the crude oil’s volatility affected the Canadian currency performance in a day of weak performance in equities markets. The loonie has a strong relation with stocks, and today’s decline as well as a less strong demand for commodities played a major role in Canada’s dollar downtrend today, specially versus its U.S. counterpart as an economic activity report came beyond expectations and increased even further confidence towards the U.S. economic recovery in 2010.

The oil volatility is providing traders with high swings on the loonie’s charts, opening good day-trade possibilities, according to analysts. Despite today’s decline, the Canadian dollar outlook for 2010 remains above average as demand for commodities shall increase as the global economy recovers, consequently making the loonie to benefit from such scenario.

USD/CAD declined to 1.0525 as of 17:02 GMT from a previous rate of 1.0398 in the intraday. AUD/CAD touched 0.9416 from 0.9325.

US Dollar: The U.S. dollar had a bullish performance today and gained considerably versus the euro and the yen as speculations rose that the Fed will start a process of lifting economic stimulus introduced during the worst moments of the global slump to revive the U.S. economy.

The dollar [...]]]>

Dollar Climbs Before Year End on Business Activity

US Dollar: The U.S. dollar had a bullish performance today and gained considerably versus the euro and the yen as speculations rose that the Fed will start a process of lifting economic stimulus introduced during the worst moments of the global slump to revive the U.S. economy.

The dollar benefited today from a business activity report that came much above forecasts, interpreted as another solid evidence that an economic recovery is on the way in 2010 for the U.S., which could prompt the Federal Reserve to lift stimulus and raise its benchmark interest rates, currently maintained at an all time record low. The dollar has gained almost 5 percent this month versus the euro, as the European common currency is being hurt by some of its member countries’ financial struggles, specially Greece during the past two weeks, after it had its credit rating downgraded by an important financial institution.

Market sentiment shifted towards the dollar, and it’s likely to remain bullish in 2010, according to analysts. Consecutive positive reports in the U.S. will likely to change Fed’s monetary policy sooner or later, and the next move is likely to be hawkish, which would set the dollar to further gains next year.

EUR/USD traded at 1.4341 as of 17:33 GMT from 1.4398 in the intraday. USD/CHF traded at 1.0360 from 1.0324.

WORLD FOREX: Euro Gains As Dubai Gets $10-Billion Financing MarketWatch By Takashi Nakamichi TOKYO (marketwatch) — The euro rose against the dollar in late Asian trading Monday as worries about Dubai’s debt crisis waned on news …

WORLD FOREX: Dollar Down [...]]]>

Forex Market News Dec 15 2009

WORLD FOREX: Euro Gains As Dubai Gets $10-Billion Financing
MarketWatch
By Takashi Nakamichi TOKYO (marketwatch) — The euro rose against the dollar in late Asian trading Monday as worries about Dubai’s debt crisis waned on news …

WORLD FOREX: Dollar Down Slightly Vs Euro After Dubai Bailout
Wall Street Journal
By Don Curren Of DOW JONES NEWSWIRES TORONTO (Dow Jones)–The US dollar is modestly lower against the euro and yen Monday morning as the resolution of …

FOREX-Dollar soft as Fed meets, data in focus
Reuters
By Anirban Nag SYDNEY, Dec 15 (Reuters) – The dollar was subdued on Tuesday, pulling away from recent two-month highs against the euro, with markets wary …

Forex: BoJ Tankan: Business Sentiment Improves In Dec. Quarter
ForexTV.com
(RTTNews) – Sentiment among large manufacturers in Japan improved in the December quarter of 2009, the Bank of Japan said in its quarterly Tankan Survey on …

Forex: Representative Bart Gordon Will Not Seek Re-Election In 2010
ForexTV.com
(rttnews) – Representative Bart Gordon, D-Tenn., announced Monday that he will not seek re-election in 2010. “Turning 60 has led me to re-evaluate what’s …

Forex: Lieberman Indicates Opposition To Health Care Reform Including Medicare …
ForexTV.com
(rttnews) – Senator Joseph Lieberman, I-Conn, indicated Sunday that he would oppose a health care reform bill that included a proposal to expand Medicare …

Forex: Obama Meeting With Banking Leaders, Some Unable To Attend Due To Weather
ForexTV.com
(rttnews) – While President Barack Obama is meeting with leaders of the financial services industry at the White House on Monday, the heads of some of the …

Forex: Recount Increases Incumbent President’s Lead In Romania
ForexTV.com
(rttnews) – A recount of invalid votes from Romania’s presidential run-off only helped increase the lead of incumbent President Traian Basescu, …

Forex: US Not To Sign Peace Deal Unless North Korea Abandons Nuclear Program
ForexTV.com
(rttnews) – Stephen Bosworth, US President Barrack Obama’s special envoy dealing with North Korea’s nuclear issue, asserted Washington’s stand that it will …

Developing a Successful Forex Mindset
Benzinga
As a priority, aspiring traders need to develop a mind-set that will allow them to trade the Forex Market successfully. They must realise that emphasis …

I am going to be very candid with you right now, and I risk alienating myself from most of the other Forex educators out there. However, I had to make a decision: tell you the truth, or keep my mouth shut to make good with the “old [...]]]>

4 Rules That Most Forex Traders Will NEVER Learn

I am going to be very candid with you right now, and I risk alienating myself from most of the other Forex educators out there. However, I had to make a decision: tell you the truth, or keep my mouth shut to make good with the “old boys” network of Forex “gurus“. Get more techniques and advice about Forex Income Engine 2.0 from Bill Poulos

Deep breath… here it goes…

I’ve had my eyes on the Forex markets for years, but specifically, I spent the last few years carefully researching, testing, and tweaking every course, system, and method I could get my hands on to see what was going on. So, I think I’ve seen it all, and for the most part – it’s ugly.

I have 4  Forex golden rules that I use to determine if a trading method is good for me:

It must be a complete forex  method, with setup conditions, entry rules, initial stop rules, and exit strategy rules, leaving no decision to chance.

It must include specific Forex  risk management,  Forex money management, and Forex portfolio management guidelines.

It must be based on Forex technical analysis, but it must not be a 100% mechanical system.

It must provide a way to trade forex in as little as 20 minutes a day and not force you to stare at your computer for hours.

Let me talk about item #3 above for a moment, because this is where a lot of forex traders can potentially lose a lot of money.

When you rely on a computer to make 100% of your forex trading decisions, you do not learn how to become a trader, and you never will. Instead, you essentially give up control of your trading account. This can be extremely dangerous to your portfolio, because almost every system I’ve seen since 1974 has been back-tested and curve-fit, which means it will ultimately fail, or at least not live up to its past hypothetical results.

Now, that statement might get me into trouble, especially with younger traders, who tend to believe that you can create a 100% mechanical system that never (or rarely) loses. Folks, that’s called the Holy Grail, and a week doesn’t go by that I don’t get an email from someone who thinks they have found it. Get more techniques and advice about Forex Income Engine 2.0 from Bill Poulos

By the way, this becomes even more dangerous when you base your livelihood on a third party service that feeds you signals every day without telling you their “secret formula”. What would happen to you if they went out of business?

(Just for the record, I believe some mechanical systems ARE good, at least for awhile, but I also believe the only way to maximize their use is if you truly understand how to trade in the first place.)  Get more techniques and advice about Forex Income Engine 2.0 from Bill Poulos