In a year where the federal government shut down for 16 days and a major U.S. city Detroit filed for bankruptcy, the nation's economic growth was slow, but stable. However, as 2013 drew to a close, the shutdown and looming default threatened to derail an economy that was still in recovery. When 2013 began, the unemployment rate was 7.9 percent. By September 2013, unemployment had fallen to 7.2 percent, which was still historically high, but the lowest it had been in five-years. However, as the unemployment rate decreased, so did the...
Today is Christmas Eve which will be followed by Christmas tomorrow while some countries also celebrate a second day of Christmas on Thursday. Since this year the celebrations fall in the middle of the week most traders decided to enjoy a longer break and took vacation days which means their probably enjoyed their last day trading forex last week on Friday. It is good to take some time off from the joy and stress of trading and Christmas is the preferred time for traders from Europe through Asia and into the American continents to take some...
2013 is coming to a close with only four trading days left in the year. Traders will enjoy a very slow trading session today where little price movements are expected on very low volume which will be followed by another slow trading tomorrow in order to close the final full week for this calendar year. Next week on Monday is the final full trading day for 2013 which will be followed by a short trading day on Tuesday which will mark the end of trading for 2013. Volume could pick slightly next week as forex traders will close positions in order...
For serious trading activity in the Forex market a trader should use some trading system. Currently, there are a lot of different Forex trading systems, compiled by experienced traders. So you do not have to develop your own from scratch and can take many ideas from existing trading systems. This is easy to do, given the availability of such systems. Some of them are free, others are expensive but their cost does not say that some are better and others are worse. To understand the true value of the trading system you can only by working...
Yesterday was an economic heavy data day as forex traders received some very important economic information which has found its way onto forex charts around the globe. Today’s big reports were all centered on the Purchase Manager Index or PMI data. The PMI covers a wide range of economic activity as many economic reported on manufacturing as well as service sectors. While most forex traders conduct their analysis based on technical indicators as well as price action it is important not to ignore economic reports which will have an...
