Great New Forex Site From Thomson
By Marc Prosser | November 28, 2007
FXCM and Thomson Financial have a great working relationship.
Thomson’s IFR Forex Watch product is one of the most respected foreign exchange market commentary services in the world. (and available free to FXCM’s retail trading clients).
Recently, Thomson created a free Forex website designed for both retail and institutional traders www.thomsonfxhub.com I like the site and have asked Thomson to provide a brief description of the site:
Thomson FX Hub is a foreign exchange-oriented site which takes advantage of Web 2.0 technologies to connect our analysts and readers in real time. FX Hub filters news, commentary and analysis on the web and puts
our authoritative spin on it. We surround our commentary with tools and information critical to traders and investors, enhancing its value.
If you are looking for tedious PhD-produced palaver, FX Hub is the wrong place for you. If you are looking for sharp, opinionated, to-the-point content with enough fundamental backbone to illustrate a concept without making your eyes glaze-over, FX Hub is your kind of site. We pledge to remain regression analysis-free.
Tags: forex, fxcm, thomson, trading
Topics: Mr.FXCM | No Comments »
GBPUSD Trading Range
By Laetitia Vaval | October 16, 2007
The GPBUSD pair has been trading in a range (2.0250-2.0450) since the end of September. I’ve decided to try to profit from this trading pattern. I bought one lot at 2.0300. My upside is 150 pips (limit set at 2.0440). I set my limit price at 2.0230, 70 pips below since that is under the trading range and if the GBP reached that level it would probably mean that the range has been broken and that my earlier ”analysis” is no longer valid.
Tags: gbp, pips, trading, USD
Topics: Wall Street Warrior | No Comments »
USD / CAD - Are You a Believer?
By Eliseo Agas | October 16, 2007
Sorry, for my unscheduled hiatus from the usual posting…fear not, trading has been tremendous the past few weeks so life is good. I hope you’ve all fared just as well if not better. With that said, let’s talk shop…
Now if you believe the USD/CAD free fall from parity the past month is bound to continue then here is how I would play that angle:
As of this writing, we have a bounce on the Daily chart that sets us up for a potential entry to short. I’d now begin searching for any signs of weakness on a smaller timeframe (my favorite, 4-hour chart) indicating when sellers might be stepping back in. The danger with any trade like this is to be aware when sellers start running for the exits en masse…this is something we’d have to keep an eye out for on the Daily and use Stops based on key levels on the chart indicating when sellers may have lost faith shorting.
Right now, I’d sit patiently on the sideline waiting for signs of the bears beginning their assault on the bulls before putting my position on. I’ll post to follow up on this idea as it develops.
Tags: CAD, forex charts, trading, USD
Topics: Better Use Charts - Use Charts Better | 1 Comment »