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forecast (WEEK 24 October -28 October 2011)

  

EUR/USD:
Bullish above 1.3800 up to 1.4020
GBP/USD:
Up movement up to 1.6000 to continue till the mid of week.
USD/JPY:
 Bearish below 76.30, target may be at 75.80
USD/CHF:
Short rally
 
Forex Forecast: The forex news is the key factor that establishes the forex forecast. There are two main types of forex news. The first type gives information about the events and activities in the currency market. The other type of the forex news shapes the currency market in real life scenario.

Smart traders use the news and keep eye on matter that released in the news. Sometimes a small press release, an announcement or a schedule of the meeting causes heavy variation in the currency prices. These smart take out full advantage of the news.
 (Updated Wed, 20 Jul 2011 10:52:56 GMT)
 

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FOREX FORECASTING: TIPS
Forex forecasting is ‘giving ample attention to future possibilities in market movement in order of gaining more profit and minimizing chance of losses’.
1. If you are a Day Trader ‘Use daily high/low as a guide for entry and exit points’.
2. If you are a Position Trader ‘Use daily and weekly predictions for Stop Losses and Trailing Stops to abide by the Trading Signals’.
3. Never depend solely on Current Data because Current Data is Not Sufficient. Some traders tell gossip about the currency market economic news from different countries and take their own decisions based on these gossips. This may be dangerous. Present events will have an impact on the ups and downs of currency price. However, the events that happening these days is only a smaller part of the whole picture.

DISCLAIMER: The data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
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