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.

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Thursday, August 18, 2011

Action Insight Mid-Day Report 8-18-11

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Risk Off Again on European Banking Risks, Poor US Economic Prospects

Risk aversion strikes back at the market today as European banks shares lead selloff in risk assets on rumors that a unidentified banks has sought emergency US dollar loan of as much as USD 500m from ECB yesterday. Major European indices tumble with FTSE down more then -4% while DAX and CAC 40 drop more than -5%. US stock markets open deep in red with DOW drops as much as -500 pts in early trading. Gold jumps to new record high close to 1830 in response while 10 year US treasury yield breaches 2% briefly. Dollar and yen are broadly higher on safe haven flow but the swiss franc lags behind.

Full Report Here...


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Featured Technical Report

USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 0.9771; (P) 0.9808; (R1) 0.9843; More.

USD/CAD's break of 0.9872 minor resistance suggests that consolidation from 1.0009 might be finished at 0.9774 already. Intraday bias is cautiously on the upside for a retest on 1.0009 first. Break will confirm resumption of rise from 0.9406.. Also, note that sustained trading above 0.9912 resistance will confirm double bottom reversal pattern (0.9444, 0.94056) and target 61.8% retracement of 1.0851 to 0.9406 at 1.0299. On the downside, even in case of another fall, we'll stay bullish as long as 0.9741 support holds.

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Special Reports

BOE Voted Unanimously To Keep Rates Unchanged, First Time Since May 2010

The BOE minutes for the August meeting turned out to be more dovish than expected as 2 hawks, Spencer Dale and Martin Weale, stopped pushing for a rate hike, making the decision to hold the Bank Rate unchanged at 0.5% unanimous for the first time since May 2010. Adam Posen continued to favor expanding the asset-buying program by +50B pound to 250B pounds. The pound slid after the minutes as it's increasingly likely that the central bank will adopt further easing.

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France And Germany Rejected Joint Eurobonds, Focused On Economic Integration

The Franco-German summit failed to deliver any feasible measures to contain the sovereign crisis in the near-term. The 2 nations ruled out joint issuance of Eurobonds for now and rejected expansion of the 440B-euro EFSF. Instead, the leaders pledged to defend the single currency and proposed new tax rules. The plan to tax financial transaction sent the euro and equities lower.

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GMT Ccy Events Actual Consensus Previous Revised
23:50 JPY Trade Balance (JPY) Jul -0.13T -0.12T -0.19T -0.20T
08:30 GBP Retail Sales M/M Jul 0.20% 0.40% 0.80% 1.00%
08:30 GBP Retail Sales Y/Y Jul -0.20% 0.10% 0.20%
08:30 GBP Retail Sales w/Auto Fuel M/M Jul 0.20% 0.30% 0.70% 0.80%
08:30 GBP Retail Sales w/Auto Fuel Y/Y Jul 0.00% 0.30% 0.40%
12:30 USD CPI M/M Jul 0.50% 0.20% -0.20%
12:30 USD CPI Y/Y Jul 3.60% 3.30% 3.60%
12:30 USD CPI Core M/M Jul 0.20% 0.20% 0.30%
12:30 USD CPI Core Y/Y Jul 1.80% 1.70% 1.60%
12:30 USD Initial Jobless Claims 408K 400K 395K
12:30 CAD Leading Indicators M/M Jul 0.20% 0.20% 0.20%
12:30 CAD Wholesale Sales M/M Jun 0.20% 0.00% 1.90%
14:00 USD Existing Home Sales Jul 4.67M 4.90M 4.77M
14:00 USD Leading Indicators Jul 0.50% 0.20% 0.30%
14:00 USD Philly Fed Survey Aug -30.7 3.9 3.2
14:30 USD Natural Gas Storage 50B 49B 25B
Forex Trade Ideas

Trade Idea: EUR/GBP – Target met and stand aside

The single currency fell in line with our expectation yesterday and our short position entered at 0.8820 met indicated downside target at 0.8720 (with 100 points profit). Although the single currency has remained under pressure and weakness to support at 0.8663 is likely, break there is needed to signal the c leg of wave 2 is still in progress for a retest of 0.8644, then towards previous support at 0.8611 (wave a low).

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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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