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Ikon Group

the forex price of GBP/USD mildly went down from the high point of the beginning of the forex market at 1.6259, but temporarily the slump amount would be quite limited.

So far, the Nikkei index was opened about 0.2 percent low, and followed the slump trend in the EU and US forex market. The forex markets in North America were all closed, and the cross trading in this trading session would be quite dim.

Some forex analyst pointed out the forex price of GBP/USD broke the high resistance point at 1.6184 of this week, and the week K line would fall down and then go upright, the forex trend would be upwards, the further resistance point was at the high point of 1.6276 at the beginning of February.

But in short term the index indicated this forex price was over bought, and there is demand for fall back, and the primary support point at bottom would be at the trading range of 1.6180-1.6200.


Ikon Group

because of the uncertainty brought by a series of political events in last week, the surging trend of theforex price of EUR/USD might be limited.

An election would be taken in Ireland on this Friday, and it is commonly believed in the forex market that there would be more argument on the political issues coming out.

The term of the loans to Ireland from EU as well as the financial reorganization plan would be two of the major topics in the forex market.

Meanwhile, part of the Germany local government would take the election, and what is more, the focus on the sovereign debt crisis in Portugal and the new capital rule in Spain were gradually becoming more and more popular.


Ikon Group

The market quotation of USD/CAD hit the new record low of 0.9815 in recent days, and currently, maintained fluctuate nearby the low position. View from the K line or shaped line of USD/CAD, the overall trend and market quotation operated within a big descending triangle.

In term of short term, the average line formed arrangement of short. The target of USD/CAD is still on the position nearby the previous low point of 0.90.


"USD/JPY attempted to make breakthrough"

Ikon Group

USD/JPY closed on positive line on last trading day, and the forex price once tried to pass through 5 daily lines, however, it restrained itself slightly and gaining momentum, in the afternoon session, it is better for investor to observe. If theforex price stayed steadily on 83.01, the forex price will have perfect opportunity to develop.

The senior forex trader of Mitsubish UFJ Ltd, because the United States closed the market, but as the market predicted that Untied States economy will take a turn for the better, the forex price’s support nearby 83.00 will become stronger than before.

 


Ikon Group

The market quotations continued to fluctuate, the shape ‘V’ appeared on the K line chart once again.

The forex price of EUR/USD went up all the time to break the highest point and reached 1.3587 after got away from the lowest point 1.3461. theforex price stood still nearby 1.3570, people should concern the CPI of United States, if it is lower than the expectation, the forex price has chance to go on increasing.

In technical, what the investors need is patience. The market quotations fight nearby blue trend line. There is a shape ‘N’ in four hour chart, the forex price broke the support from blue trend line and then came back above it.

It is predicted that there should be a process of testing red trend line and the position 1.3577 is the key one.
The predicted resistance may be on 1.3577, 1.3621, 1.3667-74 and 1.3741 while the predicted support level may 1.3501, 1.3482, 1.3410 and 1.3363.


Ikon Group

Connecting with interest rates, spot exchange rates and foreign exchange rates, “Interest Rate Parity”, proposed by British economist John Maynard Keynes in 1923, plays an essential role in the foreign- exchange (forex) market, it is a basic theory to learn forforex traders.

What does this theory tell us? At a word, traders or investors prefer to buy the currencies with high interest rate, thus the exchange rate of that currency will rise.


"Whether this is what AUD/USD want?"

Ikon Group

AUD/USD dropped slightly to hit the new record low of 0.9919 in the morning session of New York market, but after the afternoon session, the oil price, gold price and the American stock went up to support theforex price’s rebounding, and had further growth after the Federal Reserve made its resolution.

In technical, the daily chart continued to be blocked on 20 average lines, and also the forex price may go on fluctuating within interval.


Ikon Group

Connecting with interest rates, spot exchange rates and foreign exchange rates, “Interest Rate Parity”, proposed by British economist John Maynard Keynes in 1923, plays an essential role in the foreign- exchange (forex) market, it is a basic theory to learn for forex traders.

What does this theory tell us? At a word, traders or investors prefer to buy the currencies with high interest rate, thus the exchange rate of that currency will rise.


Ikon Group

First it is the economic statistics published per-month by the USA that influences most.

Economic statistics from Euro-zone countries, Japan, United Kingdom is followed.

Economic statistics from Australia, Canada, and Switzerland also have some effect on the foreign-exchange (forex) market.

The reason why the USA is the most important the USD is the most important currency in the globalforex market.

More than 50% of settlement in the international trading market is done by the USD.


Ikon Group

International foreign exchange market is an open and invisible market. Advanced communication tools make the global foreign exchange (forex) markets into one.

The market participants could do forex trading all around the world without limited of time and space.

So it is a very hard work to calculate the foreign exchange transactions within a period.

So in the foreign exchange market, technical analysis is done without considering the volume of foreign exchange.
This is also one of the differences between technical analysis of forex trading and stock trading.