Online Trading Currency - How to Trade Forex » trading news http://www.forexjinx.com Tue, 06 Apr 2010 03:33:17 +0000 en hourly 1 http://wordpress.org/?v=3.0 The Positive Results Of Non Farm PayRoll http://www.forexjinx.com/the-positive-results-of-non-farm-payroll/ http://www.forexjinx.com/the-positive-results-of-non-farm-payroll/#comments Thu, 10 Dec 2009 07:15:43 +0000 ikini http://www.forexjinx.com/?p=33 I wasn’t really following the chart last, the week of the Non farm payroll of Dec 2009. Most of the currency pairs had a big reversal candle i.e a pin bar, in the previous week. The biggest was in GBP-JPY. So before the announcement of the non-farm payroll values, the currencies were either bullish or bearish, depending on the pin bar that formed. For the GBPJPY, it was already bullish that week.

The NFP (non-farm payroll) showed the the unemployment rate decreased in America. It went from 10.2% to 10%. This is dollar bullish. Since the values of the NFP were positive, GBPJPY went higher. The market never lies. I believe it already had a hint that the NFP would be bullish, that was why it showed a daily pin bar in the previous week.

For now, GBPJPY has almost given back what it gained. It is down. this is a chart of it now.

GBPJPY 10 Dec 2009

At the time of this posting,  the currency is going up. It might fall. I think GJ is bullish. There is a gap. Click on the map to see the circle where i said gap. In forex, most gaps are usually filled.

If I am trading this, I would have bought at 142.48 and put a close or stop loss at 10 pips below the red line. 142.00. This is also a psychological point because of the double zero digits. Since the pair would likely close the gap, I expect to close this trade at 147.11. This means that this is more than a 450 pips trade. Well, this is all theory. Forex is unpredicatable.  Anything can happen while you are engaging in online trading. The best thing is always to lock some profit, so if anything happens, you can say you made some money.

]]> http://www.forexjinx.com/the-positive-results-of-non-farm-payroll/feed/ 0 Unemployment Rates Drops In July http://www.forexjinx.com/unemployment-rates-drops-in-july/ http://www.forexjinx.com/unemployment-rates-drops-in-july/#comments Mon, 10 Aug 2009 06:27:09 +0000 ikini http://www.forexjinx.com/?p=10 The unemployment rate was released on Friday, 7th August. The unemployment rate was 9.4%. The unemployment rate for June was 9.5%. And it was forecast that the rate for July would be 9.6%, but the analysts were wrong. It came out to be less than the forecast, and it was lower than June rate. This means that the U.S economy is getting better.

Traders were expecting the results to be bad. You can see why I am saying this (look at the charts).
July NFA

July NFA for USDJPY

If you look at the first pic, which is a pic of GBPUSD, you would see that there is a candle with 2 long spikes and a small body. This happened because most traders thought that the news wold be bad. So at the moment it came out, they bought the currency. This action made it to go up. But when they later analyse the news, they found out it is positive for the dollar. These traders either closed their positions or the selling force was greater than their force (buying force). This is one of the reasons not to trade on Non-Farm Payroll days and also not to make up your mind before the news come out.

It is funny that the USDJPY didn’t whip saw. It just moved up and continue moving. I believe USDJPY would also go up on Monday. There is no negative news yet to break this up trend now. I may be wrong.

]]> http://www.forexjinx.com/unemployment-rates-drops-in-july/feed/ 0