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The USD/CHF has rallied 13 out of the previous 15 daily sessions in an upswing that broke above a projected trendline and key resistance pivots. The RSI pushed above 70 and showed bullish momentum in the medium term, but in the very short-term, it is also an overbought signal
Long USD positions at record high: The latest IMM data shows that investors added strongly to short EUR/USD positions last week. Bearish bets against the euro rose to 173,869 contracts from 143,984 a week earlier.
On Friday Dollar/Yen continued decreasing with 65 pips.
The Euro managed to hold onto another day of gains despite the G8’s somewhat tepid assurances to continue to work towards a resolution for the Eurozone sovereign debt crisis.
European shares took a breather from last week’s sell-off and the single currency steadied on Monday, but investors were wary after a weekend meeting of Group of Eight leaders failed to ease concerns about …
On Friday Pound/Dollar bounced up, increasing with 100 pips. The Cable appreciated from 1.5731 to 1.5834 on Friday, in converse with the negative money flow sentiment at almost -9%, closing the week at 1.5816. Today the British Pound strengthened further, ascending up to 1.5840, than began dropping.
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The Foreign Exchange market, also referred to as the "Forex" or "FX" market, is the largest financial market in the world, with a daily average turnover larger than the combined volume of all U.S. equity markets.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
Forex is a true 24-hour market, open continuously from 5:00pm ET on Sunday to 5:00 pm on Friday. With three distinct trading sessions in the US, Europe and Asia, you can trade on your own schedule and respond to breaking news.
Leverage allows you to increase your total return on investment with less cash outlay. However, increasing leverage increases risk.
The sheer volume of Forex facilitates price stability in most market conditions. 85% of all forex transactions involve the 7 major currency pairs.
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