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FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand.

As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 1.5 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies.
  


 
Technical Analysis Reports (UPDATED)
  • Daily Forex and Dow Jones Recommended Levels
    Several words about the EUR/USD future. Resistance (daily close) : 1.3182, 1.3364, 1.3590 and 1.3778. After that 1.3958, 1.4186 and 1.4400. Break of the latter will give 1.4490, 1.4692 ? 1.4884. Then 1.5117, 1.5386 , 1.5592 ? 1.5660. Break of 1.5660 would lead to 1.5865, 1.7280 and 1.9430 (published on...
  • Currency Majors Technical Perspective
    EUR/USD Current price: 1.2722 View Live Chart for the EUR/USD Wednesday was signaled by increasing risk appetite since Asian opening that faded in the US afternoon. Pair approached key 1.2770/80 static resistance area, yet failed to extend above, despite stocks across the world had a quite positive day erasing most...
  • The Euro is weak across the board
    The euro is weak across the board. In fact, the EURAUD is trading at a 19 year low and an objective is 1300 pips lower. Long Term Trends and Pivot Points (monthly data) (updated on first of the month) Medium Term Trends and Pivot Points (weekly data) (updated every week)...
  • Chart of the Day ? AUD/USD
    (Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 9/08/2010 ? AUD/USD ? Price action on AUD/USD (a 4-hour...
  • Treasury Bond Weakness could mean another Leg Down
    Renewed demand for risky assets is helping to drive the December Treasury Bonds lower. Technically the T-Bonds may have made a secondary lower top on Tuesday after testing the retracement zone at 133?03 to 133?22. The actual rally to 133?12 completed a 50% retracement of the 135?19 to 130?12 range....
  • Dollar/Yen making Daily Reversal Bottom
    Ahead of the release of this afternoon?s Federal Reserve Beige Book, the U.S. Dollar is trading weaker against most major currencies. This report shouldn?t be a market mover, but traders should read it to gain a little more knowledge into what the Fed looked at when it made its recent...
  • Technical Daily Analysis-$USDCAD Breakdown
    BOC set to announce on a rate change. The technicals show a strong break from the .786 retracement. Follow through should carry the UC to the double bottom @ 1.0340 with further targets at the 1.0300-1.0278 area


  • Stock Traders Put European Debt Issues Back on Forefront
    U.S. stock index futures are called slightly higher on Wednesday ahead of the release of the Federal Reserve?s Beige Book later today, but investors will remain focused on developments in European debt markets and jittery over European bank concerns.   There are no major U.S. economic reports this morning which...


e-CURRENCY EXCHANGE

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