Yesterday, the European trading floors have been suspended trading in shares of Italian banks due to heavy fall of prices. As reported today by representatives of the Italian stock exchange Borsa Italiana, which is owned by the British corporation of stock exchange operators “London Stock Exchange Group plc”, tradings of all securities of the largest financial institutions of this country have been temporarily suspended. In particular, quotes of UniCredit SpA had to adjust to 5.42% until the lock, Intesa Sanpaolo SpA shares...
PaxForex ended the trading week with 305 pips in net profits after closing two trading positions; this continued our positive performance after a very strong first-quarter. We are on track to deliver on our 500 pips per month target with two-and-a-half trading weeks left in April. There are no pending orders currently in our forex portfolio. We had the following five trading recommendations this week: Monday, April 7th – USDCHF April 7thth 2014; Long @ 0.8895 Tuesday, April 8th – GBPUSD April 8th 2014; Short @ 1.6715...
Should price action for the GBPUSD remain inside the 1.6470 to 1.6500 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.6480 Take Profit Zone: 1.6710 – 1.6760 Stop Loss Level: 1.6400 Should price action for the GBPUSD breakout above 1.6500 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ Retracements in the trend; buy orders during dips Take Profit Zone: 1.6710 – 1.6760 Stop...
Gold is considered as one of the most popular metals in the world, in the eyes of investors and consumers. Despite the fact that gold is no longer used as currency in the developed countries, it continues to have an impact on the currency markets. Moreover, there is a strong correlation between the gold price and currencies in the Forex market. To illustrate this relationship, we should consider the following aspects. 1) Previously, the gold was used for insurance of rates, which weren’t secured by gold. Even in the times of the...
As forex becomes more and more popular there is one common problem most new entrants have to face; the lack of sufficient capital. The majority of new traders will fund their very first forex trading account with less than $1,000 which will cause several problems for those forex traders from the start. In addition it will put them at a disadvantage in comparison to their peers who managed to sufficiently fund their trading accounts. New forex traders need to keep in mind that trading is a long-term process of learning how to trade,...
