Moving Of British Pound and Euro

British Pound and Euro Little Moved Despite Heavy Event Risk


The European session dominated when it came to scheduled event risk Thursday; but the data would ultimately offer little direction. For the euro, the release of strong sentiment indicators was quickly offset by a sharp drop in retail sales. According to the European Commission’s statistics, consumer confidence in the Euro Zone rose to an 18-month high and the outlook for the economy was as bright as it has been in the same period. However, how much does that mean when actual consumer spending for the region plunged 1.2 percent through November – matching the worst slump on record. The conditions for the pound were the same; but the potential was greater. Some believe the economy is at a turning point; so now would be the time for the central bank to start raining in stimulus to support its financial markets. Yet, in the end, the MPC would change neither the bond purchasing program nor their outlook for stimulus; leading the pound to a drift through Thursday’s close.

US Dollar Edges

US Dollar Edges Closer to a Breakout with NFPs on the Horizon


The US dollar hasn’t moved very far in the past three weeks. In fact, since the greenback’s aggressive December rally stalled, the benchmark EURUSD has maintained a range (albeit one with a mild bearish bias) of a little more than 100 pips. Through the end of today’s US session, the dollar would complete another bullish swing within its limited range. However, this technical cue may be just one step away from a critical breakout for the meandering currency. There are a few things that can spark life back into the dollar and risk appetite in general; US non-farm payrolls (NFPs). Further leveraging the clout of this already notable market mover, we can see blatant evidence of pent up pressure across the financial markets. And, no other benchmark better defines the need for momentum and trend better the Dow Jones Industrial Average. The model traditional-investor asset class, the equity index is a straightforward barometer for risk appetite or aversion. That being said, the benchmark has maintained a 300-point spread for going on two months now. When the stock market finally breaks, expect the US dollar to the same.

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There are many forex scalping techniques used when scalping the forex market. Some rely on indicators whilst others rely on support and resistance. One simple scalping strategy I have tried personally is marking major support and resistance points on my chart and putting a limit order at them and try to catch a few pips on the bounce. It’s important not to be greedy with this strategy and just get a quick scalp.

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Tighter Forex Spreads

In this section I have tried to put together a group of FX Trading Strategies for you to try. Most of these free forex trading systems can be used on any size of trading account including micro, mini and standard.

Proven Forex Trading Strategies

They have been tried either by myself or by my trading friends and they have shown to be winning forex strategies. However, as with any forex trading strategy, excellent risk management must be used at all times.

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Spreads Tight With ForexGen

When choosing a currency trading strategy , it is important to select one that best suits your needs. It would be no use using a strategy that required you to watch the market during the whole of the London session if you had a day job. The strategies below are all easy forex strategies to follow. You can of course modify them if you feel you can improve on them.
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Fx and Real-Time Chart

This is an easy little strategy to follow. It involves pinpointing major support and resistance point. You can use fibonacci retracements for these. Then when price hits a major support point, go long. Whenever it hits a major resistance point, go short.
Tight stops must be used as well as small take profits. This allows the trader to capitalize on the “bounce�.
There is usually at least a small bounce at major support and resistance points. It would be a good a idea to use a broker with a small spread for this strategy so the spreads don’t eat into your profits too much.
This is a good forex strategy with a lot of potential, but be sure to try it on a demo account first. If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills.

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