Tuesday, December 11, 2007
Forex Day Trading System - How does Oil Prices effect Forex market?
Yes, they truely do..Oil price has good, if not strong, coorelation with the currency pair movement.
The movement of oil price in any direction is due to the demand and supply. If the demand of oil is more, the price will increase else otherwise. Since, USA is not a producer of oil, increase in demand will essentially mean that USA will have to import more oil and at a higher price.
This will effectively mean that the USD will intern become weaker aginst the currency of the country from where the oil is being imported.
Currently, USA imports oil primarily from Canada. So, no wonder CAD is currently very strong against USD.
But, does the oil price effect all the forex pairs? I don't think so. I guess its only in the currency pairs where currencies are from oil trading nations.
This information is very important when placing trade in USD/CAD currency pair. If the USD/CAD market looks to be pro USD using any forex day trading system or swing tarding, it may not be true.
Thats all in this session..Feel free to join my newsletter by entering information in the box below. Keep visiting to learn more about forex day trading.
Labels: currency pair, forex day trading, fundamental analysis, oil price, USD/CAD
Sunday, September 30, 2007
Forex Day Trading System - Exciting Info!!
There are quite a few exciting infos that I have to share.
First, my blog has reached 600 subscribers in the RSS feed list..Thanks to all of you for making it such a popular blog site..Keep visiting and I'll share lot of other useful information also on the world of forex trading.
Next exciting news is that I am in middle of creating a forex trading course which will be launched in next few weeks and guess what I am going to distribute it Free to about 50 people before I start selling it. Why? One reason is that this is a way for me to thank the loyal visitors of this site. The next is that their feedback will allow me to improve the curse before it full fledgedly gets launched in the market.
I'll put up an opt-in page very soon for you to register..As you know me I am against Spam!! So don't worry about your email ids..:-)
The next is about historic moment on USD/CAD!!!!! Yes, the balance has shifted to CAD. The canadian dollar has become more stronger than USD. As of today 1 USD is equal to 0.99 CAD
Though this is historic, it opens a whole lot of sell opportunities. If you look at the monthly charts, the USD/CAD currency pair has just now broken the strong support, so it is extremly bearish. So what hour time frame you trade, daily or hourly or even 15 min, look for good entry points!!
Also, do remember, this week the NFP (Non farm payroll) numbers are going to come out.
Thats all in this message..Keep visiting to learn on online forex trading
Labels: forex chart, forex Entry, nfp, online forex trading, support and resistance, USD/CAD
Monday, July 09, 2007
Forex Day trading system : Major bottom in USD/CAD
Forex Day trading system : Major bottom in USD/CAD
The currency pair of USD/CAD is showing major resistance at the present levels. 1st there was a very bullish candlestic on a 1 hr chart last week and now today the forex pair bounced up again from that level.
What does this mean? This means that currency pair bounced from a level, tested it again and then bounced again. Remember it didn't stabalize there. it bounced. So, this is a good opportunity to go long on USD/CAD.
Look at your forex trading systems and then accordingly place the trade.
Meanwhile how many of you traded the last NFP ( Non Farm Payroll ) news? What was your experience?
Thats all in this session..Visit again to learn more.
Labels: support and resistance, USD/CAD
Wednesday, July 04, 2007
Forex Day Trading : USD/CAD looking more and more bearish
As you know, the fundamentals have a lot of impact on how the currency pairs behave. One of the common fundamental indicators that drive the USD is the oil price. Yes, since the oil and gas is consumed very heavily in USA, it has direct impact on the American inflation and so on the bank rates.
However, the price of gas impacts the USD/CAD currency pair the most. This is because USA imports a lot of oil from canada. So, the costlier the oil prices, the stronger the CAD currency will become. Thats the reason, you might be seeing that USD/CAD is falling significantly.
At this time it looks to me that this currency pair is going to fall more, so after some retracement, I'll place sell forex trading order. I won't consider USD/CAD for forex day trading.
Day trading is mostly for major currency pairs such as EUR/USD, GBP/USD.
Thats all in this post..Keep visiting for updates on Forex Market and news.
Labels: currency trading, forex day trading, forex inflation, forex news, oil price, USD/CAD
