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.

Thursday, October 13, 2011

Action Insight Mid-Day Report 10-13-11

ActionForex.com
Action Insight Market Overview Markets Snapshot

Mid-Day Report: Risk Appetite Recedes Mildly as ECB Warned of PSI

Risk appetite recedes mildly after ECB monthly bulletin warned that private-sector involvement in Greece bailout would have "direct negative effects" on Eurozone's banking sector. The bank noted that PSI will certainly place "significant stress" on bank solvency and have impact of balance sheets. And that would trigger the need for "large-scale" banks recapitalization. Even if the economic fundamentals before and after application PSI are unchanged, the could be "sudden increase in risk aversion" and market access of some countries "maybe hampered. And the bank warned that would eventually damage the reputation of the Euro. The comments revive some concerns that investors would need much more than the anticipated 21% write down on Greek bond holding, and could be as much as 50%.

Full Report Here...


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Featured Technical Report

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3634; (P) 1.3734 (R1) 1.3885; More.

With 4 hours MACD crossed below signal line, a temporary top is formed at 1.3833 and intraday bias is turned neutral. Nevertheless, another rise in EUR/USD will remain in favor as long as 1.3565 minor support holds and above 1.3833 will target 61.8% retracement of 1.4548 to 1.3145 at 1.4012, which is close to 1.4 psychological level. On the downside, though, break of 1.3565 will indicate that rebound from 1.3145 has completed and will turn bias back to the downside for retesting this low.

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Forex Brokers
Advanced Currency Markets GFT FXCM
Special Reports

Fed Favors Improving Communication, Balance Sheet Expansion Appears Unlikely Unless Deflation Fear Returns

Some new information was delivered in the September FOMC minutes. First, most policymakers lowered their forecasts for the rest of 2011 and 2012. Yet, recession is not their concerns. Second, most members saw advantages in improving communication regarding the goals for inflation and unemployment. However, there were concerns about a proper mechanism to avoid misunderstanding. Moreover, 3 policy options for managing the size and composition of the System Open Market Account (SOMA) were discussed during the meeting: a reinvestment maturity extension program, a SOMA portfolio maturity extension program, and a large-scale asset purchase program. While the second option, known as operation twist, has been chosen, 2 members favored stronger action while 3 members dissented to take additional accommodation'.

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Economic Indicators Update

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GMT Ccy Events Actual Consensus Previous Revised
21:30 NZD Business NZ Manufacturing Index Sep 50.8 52.9 52.7
23:50 JPY Tertiary Industry Index M/M Aug -0.20% -0.30% -0.10% -0.30%
23:50 JPY BoJ Minutes
00:30 AUD Employment Change Sep 20.4K 10.0K -9.7K -10.5K
00:30 AUD Unemployment Rate Sep 5.20% 5.30% 5.30%
02:00 CNY Trade Balance (USD) Sep 14.5B 17.1B 17.8B
06:00 EUR German CPI M/M Sep 0.10% 0.10% 0.10%
06:00 EUR German CPI Y/Y Sep 2.60% 2.60% 2.60%
07:15 CHF Producer & Import Prices M/M Sep -0.10% -0.10% -1.20%
07:15 CHF Producer & Import Prices Y/Y Sep -2.00% -1.90% -1.90%
08:00 EUR ECB Monthly Bulletin
08:30 GBP Visible Trade Balance (GBP) Aug -7.8B -8.8B -8.9B -8.2B
12:30 CAD Trade Balance (CAD) Aug -0.6B -0.90B -0.75B -0.5B
12:30 USD Trade Balance Aug -45.6B -46.2B -44.8B -45.6B
12:30 USD Initial Jobless Claims 404K 405K 401K 405K
14:30 USD Natural Gas Storage 112B 103B 97B
15:00 USD Crude Oil Inventories 1.3M 0.4M -4.7M
Orders and Options Watch

US Session: Orders and Options Watch

JPY: The greenback reversed yesterday's gain and slipped from the 1-month high of 77.49 back to its usual 76.70 level and further consolidation is likely to take place. Criticism from the Democratic Party on government's measures of intervention and monetary easing pushed the yen higher. Bids at 76.90-00 were absorbed but buying interest is still seen at 76.50-60 and further out at 76.30-40 with stops building up below 76.30 and 76.00 option barrier. On the upside, offers are now seen from 77.00 up to 77.50 (every 10 points interval) with stops building up above 77.50 and further out above 77.90-00.

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Forex Trade Ideas

Trade Idea Update: GBP/USD – Buy at 1.5595

As the British pound has remained under pressure after intra-day retreat from 1.5762, retaining our view that consolidation below yesterday’s high of 1.5798 would take place and near term downside risk remains for retracement to1.5641 (61.8% Fibonacci retracement of 1.5544-1.5798), however, renewed buying interest should emerge around 1.5596 (38.2% Fibonacci retracement of 1.5270 to 1.5798) and bring another rise later.

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Trade Idea: USD/CAD – Hold long entered at 1.0150

Despite yesterday’s decline to 1.0133, the subsequent rebound has retained our near term bottomish view and consolidation with mild upside bias remains for rebound to resistance area at 1.0329-38, however, break there is needed to confirm low is formed and bring a stronger rebound to 1.0410/20. Looking ahead, it is necessary to see a breach of resistance at 1.0480-90 to signal the correction from 1.0658 has ended.

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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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