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* 100% Deposit Guarantee
* 10% Referral Bonus
* Direct payouts
Welcome to presented by IFC Markets IBs Daily Forex Technical Analysis
Hi there. We are a group of IFC Markets IB partners and decide to present various information about forex for beginner to profesional. We want to presend trade information, technical analysis, trade conditions, forex jokes more and more Forex market information!
Here our goal is to inform readers as to various Forex information, so you can know all about Forex here and take it easy with Forex trading!
### COMPANY INFO ### IFC Markets Corp.
Leverage from 1 to 200 by choice
The Best Conditions of FOREX for Traders
Opening Real Account from $1 & Free Demo Account
Funding Via Liberty Reserve, Web Money and Bank Transfer
Spread: EUR/USD : 2 pips, GBP/USD : 3 pips, USD/JPY : 3 pips etc.
by Shivam Machama (Senior Analyst) and Francois Bidwai (Ichimoku Specialist)
At the beginning of European trade session the Dollar as before take a defensive position after Dollar sell in New York against background of unfavourable financial data and unclear further perspective of such companies like Amex, Apple and Texas Instruments. In Asian market Euro/Dollar was a little strengthened above New York highs at $1,5930 to $1,5938. As the currency pair keeps position at $1,5925, a setback attracts Dollar-buyers on the market. Dealers note that below $1,5900 they see strong interest on buy in EURUSD. As for the Dollar against the Japanese Yen, in Asia the Greenback was sold at every moving up. As a result the American currency hit the low at Y106,32, but a support recovered the Dollar.
EUR/USD: The fact, that the currency pair formed the bottom at $1,5800 and closed yesterday above $1,5900, can be a necessary stimulus for repeated test of the level of the historical high at $1,6020/40.
Strategy: Open small long positions on fall to the level to $1,5900, adding positions till $1,5835. Stop below $1,5750. Close long positions in the range between $1,5950 and $1,6020, resuming buys on the case of week close above $1,6025 or sure break above $1,6050 with a target at $1,6100 and then at $1,6250.
USD/JPY: Yesterday the currency pair stopped approaching to Y107,50 and now falls in direction to 106.00, as we expected. Today expect careful movement below Y107,00. Falls are probably limited to the upper line of Ichimoku clouds at 106,00. But during this week the Greenback possibly continues dropping. Only a week close below Y105,50 signals that intermediate peak is formed.
Strategy: Sell at Y106,50/106,75. Stop above Y107,20. Short-term target is at 106,00, then 105,00.
GBPUSD: The British Pound moved up from the level at $1,9900 and was closed above $2,0000. It can create conditions for next “short grip” to the end of this week. When the British currency begins surely trading above $2,0100, the risk of next weakening will be decreased.
Strategy: Buy at the level at $2,0010, adding positions till $1,9925. Stop below $1,9800. Short-term target is at $2,0100 and the next one is at $2,0200.
Time(CET) Location Indicator Period Unit Forecast Previous Actual
22-Jul-08
*** - very important; ** - important; * - less important
**08:15 Switzerland Trade Balance June Mln 1874.1 2412.8
***10:45 United Kingdom BoE Governor speaks
*14:10 United States Treasury Secretary Paulson Speaks
***14:30 Canada Retail Sales Ex Autos May % 0.8 1.1
***14:30 Canada Retail Sales May % 0.6 0.6
*14:55 United States Redbook mm w/e % 1.2
*14:55 United States Redbook yy w/e % 2.7
*16:00 United States Richmond Fed Index July% -12
During the news the market may heavily and unexpectedly move, depending on results of publications and statements. So we recomend all traders to set alarm for risk management and minimalization of losses before the news.
The dollar slightly rose against the Euro on Thursday due to the release of lower-than-expected European data which lowered expectations of an interest rate hike in this region. According to me, this rise is short lived, as the U.S. economy is far from recuperation. This rise will probably last a few sessions until the market shifts back its attention to the deteriorating data from the U.S.
Asks from Russian account does not allow EURUSD to continue falling below $1,5700 initiated before the European Forex market. But further attempts to consolidate are stopped by offers for sell near the level at $1,5725. Interest of sellers is strengthened near $1,5740 and below this level. Commerzbank think that Forex take a waiting position till key events for the Dollar at the end of this week. As for Monday, experts consider that it is hardly possible to break the trade range between $1,5630 and $1,5750.
IFC Markets is planning the third Forex Trade Contest for traders. In this time traders all over the world can participate in this contest and may become a winner. Forex traders are welcome to our Contest!
Participation Fee: no fee
Period: from 15th September 0:00 to 15th October 0:00 (CET)
Initial Deposit: $100
Leverage: 1:100
Winners: from 1st to 10th place
Awards:
1. place - $2000
2. place - $1500
3. place - $1000
4. place - $800
5. place - $600
6. place - $500
7. place - $500
8. place - $500
9. place - $500
10. place - $500
Special Prize from IFC Markets - $1000 (for one person)
How to participate in the Forex Trade Contest:
1. Download our Trade Terminal NetTradeX and open a DEMO account;
2. Send a number of your opened DEMO account;
3. Send a copy of your passport, ID card for registration.
EURUSD: The currency pair consolidated on the upper limit of Ichimoku clouds after the 3 corrections. We expect correction to 9- and 26-day moving average at the level at $1,5764/$1,5786. Sure break above the level which can occur today in the second half day, adds necessary bullish impulse to the currency pair.
Strategy: Buy at the level at $1,5750; stop below $1,5625. Add long positions in the case of sure break above $1,5800 and close them at the level of $1,5950-$1,6020.
USDJPY: The Greenback quoted in a narrow range below June highs. The American currency is not overbought and Momentum is on 100. Open interest falls again and is equal to the half of peak of the previous year. Today a trade in a range between Y107,75 and 106,65.
Strategy: Sell at the level of Y107,50, add positions till Y108,00; stop above 108,65. Short-term target is at 107,25, the next one is at 106,65.
GBPUSD: Trade passes in the frame of a potential figure “flag”, till the currency pair is hold above 1,9800. Today attempts to test the level of 2,0000 is possible.
Strategy: Open long positions at the level of $1,9950, add positions till 1,9850; stop below $1,9800. Short-term target at $2,0000, the next one is at $2,1000.
IFC Markets is planning the third Forex Trade Contest for traders. In this time traders all over the world can participate in this contest and may become a winner. Forex traders are welcome to our Contest!
Participation Fee: no fee
Period: from 15th September 0:00 to 15th October 0:00 (CET)
Initial Deposit: $100
Leverage: 1:100
Winners: from 1st to 10th place
Awards:
1. place - $2000
2. place - $1500
3. place - $1000
4. place - $800
5. place - $600
6. place - $500
7. place - $500
8. place - $500
9. place - $500
10. place - $500
Special Prize from IFC Markets - $1000 (for one person)
How to participate in the Forex Trade Contest:
1. Download our Trade Terminal NetTradeX and open a DEMO account;
2. Send a number of your opened DEMO account;
3. Send a copy of your passport, ID card for registration.
Daily Forex Market Analysis
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