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 Mid-Day Report 8-30-11

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Euro Reversing after Poor Italy Bond Auction, Poor Confidence; FOMC Minutes Next

Euro was sharply lower earlier today as markets were pretty disappointed by bond auction in Italy. Italy managed to sell EUR 7.75b of three-year and ten-year bonds today. That's close to the top end of EUR 6-8b target. However, the bid-to-cover ratio for 10 year bond was merely at 1.27, notably lower than the year's average of 1.4. Yield managed to drop from 5.77% to 5.22% but that was largely due to ECB buying with the Securities Market Program earlier this month. Without that, markets expect yield to easily rise above 6%. Investors are still in deep concern that it will get harder ahead for Italy to draw funds from the market for it's EUR 1.9T debt burden.

Full Report Here...


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Featured Technical Report

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.4468; (P) 1.4508 (R1) 1.4551; More.

EUR/USD dips sharply to as low as 1.4383 after it struggled to take out 1.4537 resistance decisively. Intraday bias remains neutral with focus back on 1.4328 minor support. Break there will indicate that recent consolidations from 1.4939 is still in progress and should have started another falling leg. In such case, intraday bias will be flipped back to the downside for 1.4054 support first. Break will target 1.3837 support next. On the upside, note that decisive break of 1.4577 resistance will revive that case that EUR/USD is starting to breakout from recent consolidation from 1.4939 and should target 1.4695 resistance for more evidence.

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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%
06:00 CHF UBS Consumption Indicator Jul 1.29 1.48
08:30 GBP Mortgage Approvals Jul 49k 49K 48.4K
08:30 GBP M4 Money Supply M/M Jul -0.10% 0.40% -0.50%
08:30 GBP M4 Money Supply Y/Y Jul -1.10% -0.70%
09:00 EUR Eurozone Consumer Confidence Aug -16.5 -16.6 -11.2 -11
09:00 EUR Eurozone Economic Confidence Aug 98.3 102 103.2 103
09:00 EUR Eurozone Industrial Confidence Aug -2.9 -0.5 1.1 1
09:00 EUR Eurozone Services Confidence Aug 3.7 6 7.9
12:30 CAD Current Account (CAD) Q2 -15.3B -13.6B -8.9B
12:30 CAD Industrial Product Price M/M Jul -0.30% 0.00% -0.30%
12:30 CAD Raw Materials Price Index M/M Jul -1.20% 0.00% -2.20%
13:00 USD S&P/Case-Shiller Composite-20 Y/Y Jun -4.50% -4.90% -4.50%
14:00 USD Consumer Confidence Aug 52.5 59.5
18:00 USD FOMC Minutes
Forex Trade Ideas

Trade Idea Update: USD/CHF – Buy at 0.8080

Despite intra-day rebound from 0.8121, a break of yesterday’s high of 0.8240 is needed to signal recent rise from record low of 0.7068 has resumed and extend gain to 0.8247, then another previous resistance at 0.8278, however, loss of near term upward momentum would prevent sharp move beyond there and upside should be limited to 0.8300, risk has increased for a correction later.

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Trade Idea: AUD/USD – Target met and buy again at 1.0550

As aussie has eased after intra-day rise to 1.0686, suggesting minor consolidation would take place and pullback to 1.0600 is likely, however, previous resistance at 1.0535 should hold and bring another rise later. A break of said resistance would extend the upmove from 0.9927 for a stronger retracement of the fall from 1.1081 to 1.0700 but reckon resistance at 1.0785-90 would hold from here.

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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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