Forex broker review and best forex broker recommendation

For most people who have daily jobs, it is difficult to trade forex in office time. Thanks for the smart phones, we can trade with phones. I am using iPhone, I can only find two companies who has forex apllication for iphone traders. I don't choose oanda, because I had bad time when I fund my acount the first time. It took forever and nobody follow up with my complains. Also its small leverage and crazy pips spead during news time is nightmare for traders.

The other one is quite good and provide tight pips spread and a lot of services. My friends strongly recommend me use it and until now I am quite happy! It is your choice for this best iphone forex broker! They are pleased to offer you a choice of 3 different spread options: ECN Premier, Variable and Fixed spreads. You can choose the one suits your need.

Tuesday, August 30, 2011

Action Insight Daily Report 8-30-11

ActionForex.com
Action Insight Market Overview Markets Snapshot

Daily Report: Euro Struggling to Extend Rally on Trichet, Kiwi Jumps Risk Appetite and Data

The risk on mode in financial markets continues as Asian equities are broadly higher following strong rally in US stocks overnight. New Zealand dollar leads the way after strong housing data which showed building permits jumped an impressive 13% mom in July. Australian and Canadian dollar closely follow. Swiss Franc continues to be the weakest currency as traders continue to reverse safe-have positions and on concern of more measures from SNB to curb franc strength, including the possibility of deposit charges. Dollar is soft in general but the loss against Euro and Sterling is so far limited and the dollar index is still holding above 73.42 near term support. Euro is still struggling to extend recent rally against dollar and sterling.

Full Report Here...


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Featured Technical Report

EUR/GBP Daily Outlook

Daily Pivots: (S1) 0.8824; (P) 0.8851; (R1) 0.8870; More

EUR/GBP faced resistance from 0.8886 and retreated. With 4 hours MACD crossed below signal line, a temporary top is formed and intraday bias is turned neutral. After EUR/GBP continues to stay in range of 0.8642/8886 and near term outlook remains neutral. We'd prefer to see breakout on either side to confirm the outlook. On the upside, sustained break of 0.8886 will complete a head and shoulder bottom pattern (ls: 0.8704, h: 0.8642, rs: 0.8653) and confirm completion of decline from 0.9083 and should bring retest of this resistance. On the downside, below 0.8794 minor support should rule out the head and shoulder scenario and turn bias to the downside for 0.8642/53 support zone. Break there will resume whole fall from 0.9083.

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GMT Ccy Events Actual Consensus Previous Revised
22:45 NZD Building Permits M/M Jul 13.00% -1.40% -1.00%
23:30 JPY Household Spending Y/Y Jul -2.10% -3.50% -4.20%
23:30 JPY Unemployment Rate Jul 4.70% 4.60% 4.60%
23:50 JPY Retail Trade Y/Y Jul 0.70% 1.50% 1.10%
6:00 CHF UBS Consumption Indicator Jul 1.48
8:30 GBP Mortgage Approvals Jul 49K 48.4K
8:30 GBP M4 Money Supply M/M Jul 0.40% -0.50%
8:30 GBP M4 Money Supply Y/Y Jul -0.70%
9:00 EUR Eurozone Consumer Confidence Aug -16.6 -11.2
9:00 EUR Eurozone Economic Confidence Aug 102 103.2
9:00 EUR Eurozone Industrial Confidence Aug -0.5 1.1
9:00 EUR Eurozone Services Confidence Aug 7.9
12:30 CAD Current Account (CAD) Q2 -13.6B -8.9B
12:30 CAD Industrial Product Price M/M Jul 0.00% -0.30%
12:30 CAD Raw Materials Price Index M/M Jul 0.00% -2.20%
13:00 USD S&P/Case-Shiller Composite-20 Y/Y Jun -4.90% -4.50%
14:00 USD Consumer Confidence Aug 52.5 59.5
18:00 USD FOMC Minutes
Forex Trade Ideas

Trade Idea: GBP/USD – Buy at 1.6285

Although cable rose briefly to 1.6455 yesterday, the subsequent retreat suggest first leg of rebound from 1.6207 has ended and retracement to the Ichimoku cloud top (now at 1.6325) cannot be ruled out, however, reckon downside would be limited to 1.6302-03 (61.8% Fibonacci retracement of 1.6207-1.6455 and current level of the Ichimoku cloud bottom), bring another rebound later. A breach of said resistance at 1.6455 would extend the rebound from Friday’s low of 1.6207 for a stronger retracement of the fall from 1.6618 top to 1.6461

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Trade Idea: USD/JPY – Hold long entered at 76.55

Despite yesterday’s rebound to 77.02, as the greenback has retreated again after faltering right at the Ichimoku cloud bottom, suggesting further consolidation would take place and indicated support at 76.47-50 needs to hold to retain bullishness for another rebound later today. A sustained break of 77.07-10 (previous resistance and current level of the Ichimoku cloud top) would suggest the retreat from 77.70 has possibly ended and bring further gain to 77.25/30, then towards 77.70.

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Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500

Suggested Readings

Fundamental Highlights

Technical Highlights

 


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