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Thai Baht Gains as Economy Grows

Globals Forex — Thu, 24 Feb 2011 04:48:33 +0000

The Thai baht gained today on the speculation that the policy makers won’t prevent the appreciation of the currency as the economic growth increases the inflation pressure.

The report today showed that Thailand’s economy expanded in 2010 with the fastest pace since 1995. The fast economic growth of the Asian countries causes the imbalances in the global economy and the Asian governments may allow their currencies to appreciate and reduce the import gains.

USD/THB fell from 30.5750 to 30.5450 as of 14:53 GMT today.

If you want to comment on the Thai baht’s recent action or have any questions regarding this currency, please, feel free to reply below.

Why Forex Market is popular

Globals Forex — Mon, 15 Mar 2010 20:04:12 +0000

At present it is very hard to ignore the detail that forex market is the world’s biggest financial market. Over the preceding few years, it has turn into the most popular market with trades amounting to more than USD 3 trillion each day. Usually referred as currency trading market, it always involves the combination of two currencies. For example- either you can buy Euro or sell US dollars, or you can buy and sale any other combination of globally standard currencies.
In current times, forex trading has gained enormous popularity and turned out to be a very profitable money making option. If we look at the present scenario, it can be accepted as one of the mainly potentially rewarding types of investments available in the global market. Though this form of trading involves great risks but the potential to earn profits are huge relative to initial capital investments. The major reason of growing recognition is its very low dealing costs, high leverage margin, 24 hours trading a day and high liquidity market. For example, with a $6000 account, you can make about $6000 per month.
Clearly it decidedly depends on the manner that you trade and the strategy you follow but good and experienced traders can double their money every month.

The key positive sign of forex currency trading that can help you consider it as a money-making affair can be its size. Its varied yet easily reachable size prevents almost all attempts by others to influence the market for their own profit. Consequently, when you invest in foreign currency market, you can be convinced that the deal you are making has the same opportunity for profit as other investors do all over the world.

So, if you are looking to get involve in this type of currency trading, it is always better to enjoy trading with the help of a forex broker. A forex broker can be the crucial person who can steer you to earn more profits from market, as a result it is always better to carefully select a aptly forex broker for right deal. Apart from all this, the next major detail about this form of currency trading is- in this form of trading there is no centralized location of foreign currency trading. With the help of various online platforms you can trade currency from any parts of the world. With the help of Internet connection and active forex trading account you can easily trade in foreign currencies.

Now it can be considered as one of the few trading markets in the world that permanently provides you with opportunities to trade since of currencies strengthening or weakening. The supply and demand are the factors that determine the price in any market. Currently when there are too many buyers and sellers, similar to the current circumstances in forex market, the price volatility can be much higher, market could be more dynamic and chances to make money can be even more. The price may go up and down more often and this dynamic nature helps in making decent money. Consequently, if you are looking to choose forex as your business, its better you do not get vexed about competition but must make sure you develop a proper strategy to earn money and enjoy good success in forex trading.

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Spot Forex Trading – The Forex Heatmap

Globals Forex — Mon, 15 Mar 2010 19:56:39 +0000

The Forex Heatmap ™ is now available to all spot forex traders. The Forex Heatmap ™ gives any spot forex trader an easy to in interpret data visualization tool that organizes the data from 25 currency pairs into a visual map of the spot forex for fast and accurate spot forex trade entry decisions.

The vast majority of forex traders don’t know the condition of the forex market when they enter a spot forex trade.

There are two reasons for this. The first reason is ignorance. Most forex traders trade one pair like the EUR/USD and are looking at standard forex technical indicators on one timeframe. They continuously force trades into the EUR/USD when there is no trade there at all and they all wind up being forex scalpers. In the meantime other pairs are moving hundreds of pips, almost daily, and these forex traders simply cannot see the larger picture of the forex market.

The second reason is that once a spot forex trader has decided that they to want to know the condition of the entire forex market when they prepare to enter a trade, or that they want to trade the best currency pair available with the most pip potential, they see that it is not possible because up to now there were no good quality forex market visual maps available to them. When a forex trader searches for such a visual map of the spot forex that gives them a real time picture of the forex market they find that a tool like this may not exist.

This is where The Forex Heatmap ™ enters the picture. The Forex Heatmap ™ quickly and conveniently verifies your spot forex trade entry decisions across 25 currency pairs. Forex trading accuracy will improve dramatically for any spot forex trader and you will also know when to NOT enter a spot forex trade.

Typically at the point of entry the spot forex trader must worry about placing the trade in their forex broker platform and make sure that the correct pair and direction are entered on the trading execution platform while watching a forex price chart. There simply is not time to click on the charts from 5 to 10 currency pairs to verify the entry decision or the overall forex market condition. Forex traders must focus on the trade entry and have tools that work quickly and are easy to interpret. This is where forex traders make mistakes and emotion takes over. Traders need a quick entry verification visual map of the spot forex that streamlines the forex trade entry decision process.

The Forex Heatmap ™ solves all of these problems. The Forex Heatmap ™ is a dynamic visual tool that consolidates the data from 25 currency pairs using real time forex datafeeds and translates the forex data into a visual map of the spot forex. When you combine The Forex Heatmap ™ with a simple trading plan and very simple forex trend indicators, basic knowledge of forex support and resistance, parallel and inverse analysis, and the direction of the primary trend you now have a powerful combination of high quality analytical and decision making tools for forex trading. Emotional forex trading gives way to logical forex trading. The full potential of 25 currency pairs is now yours not just some scalping of one or two currency pairs that most forex traders have focused on in the past.

The majority of forex traders scalp, use forex technical indicators, or use forex robots, and the failure rate is incredibly high. Heatmaps are becoming more common in business, financial, internet and technology applications, and The Forex Heatmap ™ is leading the way to create successful spot forex traders.

Forex Volume – Trading Using Volume

Globals Forex — Mon, 15 Mar 2010 19:54:01 +0000

Why is Volume Important
Let’s take a look at why Volume is important. Currency price moves up and down at different speeds. Sometimes a price change can rocket up over a 15 minute period, Volume always increases when market activity increases. In fact, that is exactly what market activity means. Also, when the market activity (Volume) is low, one can expect a slower moving market. Once market activity (Volume) increases, pricing usually stays in the same direction. Let me give you an example. The USA market opens and for the first 2 hours the volume is low, and the price of the EUR/USD remains about the same. Then, things start to happen. The USD begins to fall, and at the same time the Volume increases from 20% to 30%. A huge 10% increase in Volume. As the Volume stays at 30%, the price continues to fall. This makes perfect sense. You stay hold the trade. Now what? You are looking for the change in Volume. If the Volume increases or stays the same, then you continue to hold your position. If the market Volume returns back to 20% or lower, then it is time to liquidate your trade. Currency trading can be understood simply by reading the Volume.

How Volume Indicators Work
It’s actually very simple. Each time there is a price change, a tick counter counts the tick. If the tick is up, then it adds 1 to the total of earlier ticks. If the price is down 1 pip, then it also adds a number 1 to the earlier total. No matter if the price is up or down, the number value 1 is added to the previous total, and this is displayed using a vertical bar. At the end of each period 1 minute, 15 minutes, 30 minutes ect. The entire process begins again at zero.

Is your Volume Indicator really a Tick Counter?
Here is an easy test.
1. If your Volume indicator always moves up, and never moves down it is a tick indicator.
2. If your Volume indicator always displays zero at the beginning of each period it is a tick counter.

ProScanTM from Forex Global Center
Now see what a real Volume indicator looks like. Start using the tools professionals use. Don’t get caught in a range trade, or even worse, lose your profits because you are not able to see changes in Volume. See if Forex Global Center has what you are looking for?

Fred Worthy is President of Forex Global Center.
ProScanTM trading modules will provide you with Forex signals used by professional traders. Watch the free video tutorials and learn how to make successful trades.

Leading Forex Market

Globals Forex — Wed, 02 Sep 2009 13:46:25 +0000

Forex is the word that essentially describes the business of exchanging the currencies all over the world. Forex is also denoted by the term foreign exchange or FX. The world?s leading forex market carry out many trade activities, which are worthy of more than 1.5 trillion USD

Forex: GBP/USD finds support at 1.6255

Globals Forex — Sat, 29 Aug 2009 07:41:45 +0000

Cable fell so far during the American session against the Dollar erasing previous gains. Current price at 1.6277/79 is only 0.03% above today’s opening price. GBP/USD failed earlier to hold above 1.6300 and weakened, falling to 1.6255, posting a fresh intra-day low.

Against the Euro and the Swiss Franc, Cable is rising for the first time in more than a week. GBP/CHF is holding above 1.7200 but the pair retreated from intra-day high at 1.7305. EUR/GBP is back below 0.8800. The pair fell and found support at 0.8775.

James Chen, Chief analyst at FX Solutions, comments: “After traversing up a dramatically steep parallel uptrend channel for the past week and a half, price action on EUR/GBP, a 4-hour chart of which is shown, has finally shown signs of a potential bullish exhaustion by making a tentative breakdown below the channel. This occurs after price hit a 12-week high of 0.8837 on Thursday. With continued bearishness on this breakdown, a clear initial support target to the downside resides around the 0.8700 price region.”

GBP/USD remains strong despite sentiment downturn

Globals Forex — Sat, 15 Aug 2009 08:49:22 +0000

Despite risk aversion rally, GBP/USD remains the strongest currency across the board holding comfortable above 1.6500/1.6520 area. Still in an upside trend, pair has remained bullish since past Mach; consolidating in a 600 pips range since early June, false break that send the pair above 1.7000, offered a strong and quick retracement that lead the pair back into range.

To the upside, pair needs to regain 1.6660 level, and above, yearly high of 1.7030 to extend the long term trend. To the downside, ascendant trend line around 1.6440 will be fist key support to consider, ahead of base of mentioned range, around 1.6200, and then 1.6000. If this last gives up, long term bias will change, with next support at 1.5750.

Dollar stronger on falling stocks

Globals Forex — Sat, 15 Aug 2009 07:50:39 +0000

U.S. indexes continue falling, with Dow Jones industrial Average down 1.53% and S&P 500 1.57% down. Dollar is stronger across the board, except against Japanese Yen, with EUR/USD printing a fresh daily low so far of 1.4208, while GBP/USD keeps holding above 1.6520 zone, as risk aversion regains trading desks after worst than expected UOM Consumer Confidence data.

Commodity currencies are the major losers today, with AUD/USD down from 0.8478 highs to 0.8300 and USD/CAD reaching 1.0948 from an intraday low of 1.0812. NZD/USD also fell after printing an 11-month high of 0.6884, and quotes around 0.6775