Forex Go!

What a week it has been in the currency and equity markets. After selling off aggressively on Wednesday, both currencies and equities ended the week on a very strong note which has instilled hope and optimism in a market desperate for good news.  It was only a few days ago that Italian bond yields spiked above 7 percent and at the time, there appeared to be no end in sight for the European sovereign debt crisis.  Today, the sentiment in the market is very different.  U.S. stocks erased all of this past week’s losses with the EUR/USD coming close to doing so as well.  The recovery was sparked by some much needed leadership change in Europe.  Greek Prime Minister Papandreou has caused more trouble than he is worth and Berlusconi, the longest serving Italian Prime Minister since Mussolini has been a larger part of the problem than the solution.  Both Read more…

The latest developments in Greece indicate that Prime Minister Papandreou will step down from his post irrespective of the results of today’s no confidence vote. However, the two main parties in Greek Parliament are expected to ratify the EU bailout agreement struck in Brussels last week paving the way for EU and IMF to provide the sixth tranche of funds to Greece before it runs out of funds by the start of next month.

While the situation in Greece remains fluid and may yet again become volatile as politicians jockey for position, the markets are operating under the assumption that the Greek bailout deal will go through thus avoiding the prospect of  a disorderly bankruptcy and a possible currency crisis in the Eurozone.

As the Greek situation moves towards some sort of resolution the focus next week and beyond is likely to  turn towards Italy.  Investors have been increasingly concerned  about the rise in Italian 10 years bonds which has traded above the 6% level for the past several weeks. Italy

Read more…

The Great Britain pound gained this week against the dollar and the yen as the optimism caused by the revelation of the plans to battle the sovereign-debt crisis in Europe damped demand for safer assets. That same optimism allowed the euro to outperform the pound.

The weak started with the doubts about ability of the European leaders to make decisive actions in dealing with the crisis. The resulting risk aversion sentiment eroded the strength of the sterling against the greenback and the yen, but made it stronger against the euro. Yet the summit on October 26 unexpectedly provided a tangible result as the members of the European Union reached consensus on some measures for rescuing the region from its woes.

The reaction of the Forex market was slow and wasn’t felt on the day of the summit, but on the next day the sterling climbed against safe currencies, but the euro surged even more. On the next day the euro retreated a little, while the 

Read more…

Last week I told you about an expert advisor that you can download for free called Forex Catapult (heres the link once again). This was based on Casey Stubbs own trading system and although only available for one pair (the full version can be used on all pairs), it is still able to generate profits.

Anyway this week Casey is running a webinar that will talk about this automated expert advisor in more detail. He will discuss:

He will also answer any questions you may have, so if you are interested in registering for one of these webinars (there are several dates and times available between now and Friday), you can do so by clicking here.

It has been a great week in the financial markets with U.S. stocks rising to a one month high after falling to a one year low in early October.  As a function of the improvement in risk appetite, investors have moved their money out of the safety of U.S. dollars and recycled them back into higher yielding currencies. Over the past week, the greenback declined against every major currency, falling more than 5 percent against the Australian dollar and approximately 4 percent against the euro, Swiss Franc and New Zealand dollar. < Read more…

Risk FX staged a mild rebound in quiet European morning trade helped by slightly positive equity flows as currency markets absorbed yesterday’s massive selloff amidst a very quiet economic calendar. EUR/USD recovered above the 1.3500 figure while Aussie rallied through .9850 and cable performed best of all holding the 1.5450 level after BBA mortgage applications printed a bit better than forecast.

The G20 pledged a “strong and coordinated” response to challenges facing the global economy, but its statement had only a limited impact on trade as currency markets awaited some sort of tangible policy move. Greek Finance Minister Evaneglos Venizelos stated that Greece face three possible scenarios with respect to its sovereign debt situation. In a speech to Greek lawmakers Mr. Veniz

Read more…

The euro is finding support on the assumption that the sovereign debt crisis will be contained. Many forex traders seem to think that European leaders are serious about finding a solution to the debt crisis, and that it will be contained.

Even though there doesn’t appear to be plans to expand the EFSF, there is an expectation that European leaders will do something to prevent the spread of sovereign debt contagion before it can bring down Italy, Spain, and possibly France. Right now, efforts to require recapitalization for banks appears to be in the works, as well as a focus on protecting the ECB from problems stemming from the amount of Greek debt it is exposed to.

Right now, these considerations don’t seem to be causing a lot of disquiet, though. At 13:51 GMT, EUR/USD is higher at 1.3615, a change of 0.0083 above the open of 1.3533. EUR/JPY is also higher, 104.05 rather than 103.33. EUR/GBP is virtually unchanged from the o

Read more…

August continues to be a frustrating month (which is generally the case most years because everyones on holiday and the volumes are lower), but at least I managed to make a decent profit this week after the disappointment of last week. I only placed two trades in total. One was a losing breakout trade but the other was a big winner.

Lets talk about the losing trade first of all. Ive been trading breakouts a lot in the last few months, but this week there was just the one trading opportunity on the GBP/USD (the overnight trading range was too big on the other days and on Wednesday the breakout candle was too big) and that happened yesterday morning.

Unfortunately after entering a trade right after the markets opened at 8.00 when this pair broke below the overnight trading range, it turned out to be a false breakout and I ended up taking a 25 point loss.

Luckily the other trade more than compensated for this loss. There were no trading opportunities on the GBP/USD, EUR/USD or USD/JPY pairs this week using my main 4 hour trading system.

Read more…

Trading Setups / Chart in Focus:

EURUSD

The EURUSD rallied today and closed just under resistance near 1.4500. We can see the daily 8 / 21 EMAs are crossed higher and pressure seems to be building to the upside. We would need to see price break and close above 1.4500 next week to open the door for higher prices. Otherwise, more chop / consolidation is possible.

AUDUSD

The AUDUSD rallied today into resistance near 1.0600. Price will need to close above this resistance next week to have any chance at rallying further. Right now we are in hurry up and wait mode for this market, we will keep an eye on the price action next week and notify traders of any potential trade setups.

Check out this cool new Forex trading lesson: 4 Golden Nuggets of Forex Trading Insight from Nial Fuller

Forex Commentary:

The U.S.

Read more…

The purpose of this page is to encourage and collect the user reviews of a Forex product called B.O.R.N. Night Owl. To get the details about this product or if youre looking for support, please visit the official website that can be found at born-fx.com.

Below are the current reviews of B.O.R.N. Night Owl. It is possible that at the time youre reading this page there are no reviews yet. Because they come from real users, it may take some time for the first reviews to appear. Please bookmark this page and come back regularly to check for new reviews.

If you have experience with B.O.R.N. Night Owl, please leave a short review or comments with your feedback . It will help other users to decide. Thanks!