China’s Yuan Heads for 4th Weekly Loss | ForexGen Asia

The Chinese yuan is currently heading for its fourth weekly decline against the U.S. dollar for the first time since the end of the peg to dollar in 2005.

The currency dropped just little more than 0.1 percent this week adding to a total of more than 0.7 percent in a losing streak lasting from July 18. The Chinese government is probably cooling down yuan’s appreciation to support the exports and country’s production.

According to the recent reports, China’s industrial growth advanced at a slowest pace since February 2007 last month, while the second quarter economic growth was the lowest since since 2005.

Currency strategists suggest the end of the one-way yuan’s appreciation as they think that the GDP growth may moderate even further. Some volatility with corrections and retractions will probably prevail on the yuan’s foreign exchange market for the next few months. Nevertheless, the growth of the Chinese currency against the dollar in a long term is inevitable.

USD/CNY rate rose from 6.8600 to 6.8669 this week as of 7:47 GMT.

Atlanta Fed Chief Prefers Current Rates | ForexGen News

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Dennis Lockhart, Federal Reserve Bank of Atlanta President, said that he prefers the current interest rate as the uncertainty regarding the growth and inflation prevails in U.S.

He thinks that the rates will be kept unchanged at 2 percent during the next meetings until the end of the year. But debates about raising the rates may arose if the inflation continues to accelerate, said Lockhart in an interview to Bloomberg:

From my perspective, I like policy where it is. I view the current situation as reasonably balanced, with a great deal of uncertainty around both the downsides to growth and the upsides to inflation.

Dennis Lockhart will start voting on the rate decision next year, until that he believes that the weak economic growth will help to damp the inflation. Declining oil and commodity prices should also help to fight the inflation without raising interest rate. But if consumer prices go significantly up Atalanta Fed President will support raising rates.

The Federal Open Market Committee is made up of five Washington Federal Reserve board members and five district bank presidents. Only New York Fed chief holds a permament position, while other four rotate each year. The next FOMC meeting is scheduled on September 16.

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Dollar Sees a Correction after 2-Week Rally | ForexGen Tips

The U.S. dollar declined today during the Asian session against other major currencies as the traders realized their profit, closing out long positions, and turned down possibility of the rate increase until the end of the year.

The U. S. currency retreated from the highest level against the Japanese yen since January 2. It also dropped from the highest against the euro since February 20. Although dollar also declined versus the pound, it’s still above its Friday close level against this currency.

British pound is probably the only major currency that isn’t fully following the correction against the dollar and will most likely continue to lose much against it. Great Britain currency is hurt by the fastest home price decline since 2002.

According to some currency analysts lower oil prices will reduce the U. S. CPI pressure, while the ongoing housing slump in the United States will continue long enough to prevent Federal Reserve from raising the interest rate before the year’s end.

EUR/USD rose from 1.4684 to 1.4732 as of 8:21 GMT today with a daily high at 1.4766. GBP/USD went just a little up — from 1.8644 to 1.8659 with a daily high at 1.8722. USD/JPY declined from 110.47 to 110.23 today.

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Pound Falls Against Dollar and Euro | ForexGen Analysis

The Great Britain pound fell almost to its recent 2-year low against the U.S. dollar today as the member of the Bank of England monetary policy committee forecasted that the inflation will become less of a problem by the end of 2009.

The pound is currently dropping for the 13th day in a row — the longest losing streak since 1971. According to Tim Besley of BoE, the food and energy prices will slow down to about 2% annual rate growth by the end of the next year. That would allow Bank of England to cut the interest rates.

The weakness of the U.K. economy is only starting to show up according to some investment analysts. It’s possible that the GBP/USD currency pair will fall to as little as 1.8 during the next few months.

GBP/USD declined from 1.8616 to 1.8563 today — just a little more than 50 pips above its 2-year low at 1.8512. EUR/GBP rose from 0.7884 to 0.7893. GBP/JPY declined from 205.10 to 204.31 as the Japanese yen benefited from the unwinding of the carry trade positions.

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Pound Fell vs. USD, Euro before BoE Minutes | ForexGen

The Great Britain pound traded lower before the Bank of England’s release of the monetary policy minutes today. After the release, pound continued to slide down against both the greenback and the euro.

The U. K. currency continued to trade near a two-year low against the U.S. dollar today and fell for a third day against the euro as the minutes revealed that there was one vote for reducing the interest rates; 7 members including Governor Mervyn King voted for keeping the rates unchanged and one member vote for the rate increase.

The minutes also showed that the Bank of England expects the CPI rate to go up in the short-term, but also moderate significantly after several months as the probability, that the lower oil prices will dictate lower consumer prices, is high.

The pound rose yesterday against the U.S. dollar as the currency experienced a technical correction from the 12-day downside rally. Tim Besley, who voted to raise the rates, also noted yesterday that he expects lower inflation in the next year, cutting some traders’ expectations for the rate cut in 2008.

GBP/USD declined from 1.8668 to 1.8608 as of 8:51 GMT today — slightly more than it managed to gain yesterday, signaling that the current trend is still heading south. EUR/GBP rose insignificantly today — from 0.7920 to only 0.7929 as the euro is quite weak despite the yesterday's gains.

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Dollar Goes Down on Credit Market Losses | ForexGen

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The U.S. dollar declined at a fastest pace in a month against the Japanese currency today as the credit market losses extended and the Federal Reserve probably won’t be able to raise the rates by the year’s end.

The dollar also fell against the euro and the Great Britain pound today as the previously expected rate difference decline became not so obvious to the Forex traders. Yen’s growth against the dollar was strong because the Japanese currency rose against other major currencies too as the carry trades unwound.

The concerns about the state of U.S. credit market turn investors to risk-aversion, thus stimulating conversion from USD to yen. According to some analysts dollar may drop to 1.5000 against the euro and 107.00 against the yen during the next trading week.

USD/JPY went down from 109.85 to 108.84 as of 7:46 GMT today — the fastest daily drop on this currency pair since July 15. EUR/USD rose from 1.4744 to 1.4796 with a daily high at 1.4833. GBP/USD gained from 1.8610 to 1.8661 with a daily maximum at 1.8702 so far.

Yen Declines as Investors Buy Assets Abroad | ForexGen

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The Japanese yen fell from its more than two weeks maximum against the U.S. dollar today as the Japanese investors sought to buy foreign assets after their currency advanced so much yesterday.

The yen declined also against the euro and the Great Britain pound today after reaching a more than 3 months high against both of those currencies yesterday. There is a little hope left that the Bank of Japan will raise the 0.5 percent interest rate soon — definitely not in 2008 and probably not even in 2009.

According to the market analysts, Japanese traders prefer to send their money abroad to get a better return on investment. This factor is stemming the yen’s strengthening when the currency value reaches a certain limit.

The yen is expect to fluctuate between 105 and 110 per dollar range in the third quarter according to Toru Umemoto, chief currency strategist in Tokyo at Barclays Capital Inc.

USD/JPY rose from 108.47 to 108.88 as of 6:50 GMT today after reaching 108.13l yesterday — the lowest rate since August 5. EUR/JPY went up from 161.53 to 162.09 so far after bottoming at 160.20 yesterday — the minimum rate since May 13. GBP/JPY advanced from 203.63 to 204.29 today after reaching 201.79 yesterday — a level not seen since May 13.

Euro Rose on ECB Rate Signals | ForexGen Fundamentals

In ForexGen We offer daily news services produced to you because we believe that our traders profit is others to.

The euro rose today against the dollar and yen for the second day and for the third day against the Great Britain pound after the ECB policy makers signaled yesterday that there won’t be any rate cuts in the Eurozone soon.

Most notably European currency rose against the British pound as the latter fell to its four-month minimum levels on weak housing sector reoorts. European Central Bank policy makers Axel Weber and Lucas Papademos said yesterday that the bank will probably have to raise the rates after the economy recovers from the current crisis. U.S. dollar fell both against the euro and the yen as the commodity prices grew.

Considering the current situation with the U.S. banking institutions, the euro benefits from the uncertainty that surrounds the interest rates in the Eurozone. There still hasn’t been any strong signal for cut from the ECB.

Unlike failing U.S. employment and financial sectors the German unemployment rate seems to be improving despite the subprime lending crisis, which managed to damage almost every open economy in the world. Jobless rate fell by 40,000 in Germany in August — that’s more than the analysts expected. And, of course, such news are making the current trends on Forex.

EUR/USD rose from 1.4716 to 1.4789 as of 11:56 GMT today after reaching its daily high at 1.4807 earlier. EUR/JPY rose from 161.20 to 161.57 today. EUR/GBP advanced from 0.8022 to 0.8049 with a daily maximum at 0.8060 — the highest level since April 17.

Understanding The Two Different Types of Forex Brokers | ForexGen

If you are trading the forex market on a retail or individual level, there is a very slim chance that

you will be able to participate in the interbank market.

Typically, the smallest trade that can be placed on the interbank market is USD $1,000,0000, so

really only high-net worth individuals could possibly have the trading capital to participate in this

segment of forex trading.

The smaller part of forex trading is called the retail or individual forex market, and anybody can

trade this market with as little as $500 due to the existence of retail forex brokers.

It is, however, important to understand the two different types of forex brokers that you will

encounter when you are navigating the slightly murky waters of forex so that you can grow your money

and not lose it.

The two different types of forex brokers are called ”market makers” and ”ECN brokers” (ECN stands for

electronic communications network). The most typical question that many traders ask initially is ”

Which one is better?” and it would probably be best to say that ECN brokers are better for the simple

reason that market makers have a vested interest in seeing you lose money trading (as you will see

below).

First, let’’s break down how each of these two different types of brokers are set up.

Let’’s begin by making sure you understand the reason that these brokers exist in the first place:

they exist to provide forex market access to people who have a willingness to trade but do not have

access to vast reserves of capital necessary to participate in the interbank market.

Simply put, the only role an ECN broker is to match buyers and sellers by putting orders through

their communications network. ECN brokers play no role in actually providing liquidity, all they do

is provide a medium where buyers and sellers can find each other, so they also play no role in

manipulating market prices in any way.

The goal of the forex market maker is to provide liquidity to potential traders, and the way that

they do this is to take the opposite position on every trade that you make. For example, if you want

to buy 1 lot of EUR/USD, some other party will need to place a sell of this same size in order for

the trade to go through.

This is what the market maker does, and they will be on the opposite side of every trade that you

make.

Also realize that forex trading in this manner is what we call a ”zero-sum” transaction, which simply

means that for every time that you make money, some other trader has to lose money, and vice versa.

So what does this mean for you if you choose a market maker as your foex broker? It means that every

time you have a profitable trade, you take money away from your broker, and your broker will make

money every time you have a losing trade.

Now your market maker will probably never admit it to you, but because they stand to profit every

time you lose on a trade, it is actually in their best interest to see you lose.

It is, however, still very possible to make money for yourself if your broker is a market maker,

though if you become highly profitable then they may come up with some BS excuses for why they cannot

give you your money. So if this ever happens, and your broker starts giving you fake excuses like ”We

cannot guarantee this fill on your trade because you entered the market at a volatile time, blah

blah,” it is time to find a new broker!

Things to Expect from a Forex Home Study Course

The purpose of a Forex course is to give people, who have no time to attend on-location classes, the

opportunity to learn Forex trading techniques and develop trading plans at their own pace. If you”re

interested to earn big bucks, then Forex trading can be your best bet. Whether you finish the course

in an entire day, a week or several months, you should learn how to identify trading opportunities,

how to time market, when to enter the market and take profits, when to close a losing trade and other

aspects of Forex trading.

Since a Forex home study course is a self-study type of lesson, it should be comprehensive. It should

teach you Forex basics that both beginners and professional traders should know, trading techniques

used by expert traders, right and wrong buying/selling momentum, entry points in both short and long

market, identifying market trends and how to exit trades using tested strategies.

Expert traders recommend searching for a Forex home study course that includes information on why to

trade Forex, the psychology of trading, trading single and multiple lots, Forex versus Stocks and

Futures, moving average convergence or divergence, spot market explanation, foreign currencies and

tools in trading currencies. Other more comprehensive courses include lessons on tactical trading,

money management, creating trading plans, balancing risks and rewards, tightening reins and modern

approaches of Forex trading.

A handful of Forex home study course offers free charting software and demo trading platforms in CD.

These tools are great ways of evaluating your Forex knowledge by employing newly learned techniques

on a live trading platform. The only difference between the real Forex market and these platforms is

whether you win or lose, you will not be risking your own money.

One of the most important aspects of a Forex course is its ability to teach you about discipline

trading. Ask any expert - without discipline, everything you learned throughout your course will

become useless because you start to trade emotionally, increasing the chances of losses. Without

discipline training, you can never avoid the pitfalls of Forex trading.

Compared to mentor programs that cost thousands of dollars, a Forex home study course offers the same

time-tested techniques of famous traders, detailed information from start to finish and hands-on

Forex training. As such, you save time, money, effort and future disappointments when drastic losses

occur. Why spend hundreds of dollars with the same information? Choose a high-quality Forex course

today and enjoy the benefits of Forex training right in the comfort of your own home, at your own

pace.

The Power of Following a Forex Trading Strategy | Forexgen Tips

The purpose of a Forex course is to give people, who have no time to attend on-location classes, the

opportunity to learn Forex trading techniques and develop trading plans at their own pace. If you”re

interested to earn big bucks, then Forex trading can be your best bet. Whether you finish the course

in an entire day, a week or several months, you should learn how to identify trading opportunities,

how to time market, when to enter the market and take profits, when to close a losing trade and other

aspects of Forex trading.

Since a Forex home study course is a self-study type of lesson, it should be comprehensive. It should

teach you Forex basics that both beginners and professional traders should know, trading techniques

used by expert traders, right and wrong buying/selling momentum, entry points in both short and long

market, identifying market trends and how to exit trades using tested strategies.

Expert traders recommend searching for a Forex home study course that includes information on why to

trade Forex, the psychology of trading, trading single and multiple lots, Forex versus Stocks and

Futures, moving average convergence or divergence, spot market explanation, foreign currencies and

tools in trading currencies. Other more comprehensive courses include lessons on tactical trading,

money management, creating trading plans, balancing risks and rewards, tightening reins and modern

approaches of Forex trading.

A handful of Forex home study course offers free charting software and demo trading platforms in CD.

These tools are great ways of evaluating your Forex knowledge by employing newly learned techniques

on a live trading platform. The only difference between the real Forex market and these platforms is

whether you win or lose, you will not be risking your own money.

One of the most important aspects of a Forex course is its ability to teach you about discipline

trading. Ask any expert - without discipline, everything you learned throughout your course will

become useless because you start to trade emotionally, increasing the chances of losses. Without

discipline training, you can never avoid the pitfalls of Forex trading.

Compared to mentor programs that cost thousands of dollars, a Forex home study course offers the same

time-tested techniques of famous traders, detailed information from start to finish and hands-on

Forex training. As such, you save time, money, effort and future disappointments when drastic losses

occur. Why spend hundreds of dollars with the same information? Choose a high-quality Forex course

today and enjoy the benefits of Forex training right in the comfort of your own home, at your own

pace.

The Power of Following a Forex Trading Strategy | Forexgen Tips

Creating a forex trading system with set rules and trading parameters is the first step you should

take in separating yourself from the $90+ percent of new traders that fail to turn a profit.

There are two main reasons why trading a system with set rules can work so well and make your trading

much more profitable. First, as long as you do not break the rules of your system, you will never

enter the market on a whim. You will only place trades when you see a verifiable reason for entering

the market. Second, since all trading desisions are determined by established parameters, you will

not need to deal nearly as much with your own emotions when you are trading.

The most important part of a successful forex trading strategy is the EXIT strategy, as determining

when to exit the market is usually the most emotional of all trading experiences.

You will be continually be pulled in opposing directions by greed and by excitement. The part of you

the is excited will be happy that you have earned a few pips on the trade and will want to exit with

a guaranteed profit, whereas the part of you that is greedy will want to stay in longer to squeeze as

many pips out of the market as possible.

Also, an exit strategy does not need to be too complicated. You can create a few simple rules based

on the time-frame of the chart you are using. For example, let’’s say that you are using a 10-minute

bar chart, you would probably enter trades and stay in the market for 1-12 hours.

So you could create a rule that goes something like ”I will try to get 45 pips on each trade, and i

will exit the market if it goes against me by 25 pips.” Just coming up with an exit strategy like

this is a very good idea because it eliminates the need to consult your emotions every time you are

considering exiting the market.

Creating a system that is rather robust and mechanical is a good idea, because ideally what you want

to do is completely eliminate yourself from the picture. Now I know what your thinking… ”I want to do

WHAT?”

Well, you want to make your job as a forex trader only to CREATE and DEVISE effective and profitable

trading strategies. You almost completely eliminate yourself from the trading picture because, once

you accomplish your main job of creating a profitable trading system, all you need to do is

methodically and mechanically execute it.

The reason why I say ”eliminate yourself from the trading picture” is because once you have done the

hard part of devising a trading system that consistently captures pips, ANYBODY with a basic

knowledge of the trading platform you are using could follow these rules and make money.

So long as you follow the system that you have devised, it will lead to completely emotion-free

trading, and when it comes to consistently making good money on the forex market, emotions are the

enemy.

Remember that what you want to focus on while you are doings your trading is not how much money you

are making, but HOW MANY PIPS you are capturing into your account. It is subtle shifts in thinking

such as this that, over time, will help you to become a very successful trader.

ForexGen | Cross Currency

A pair of currencies traded in forex that does not include the U.S. dollar.

One foreign currency is traded for another without having to first exchange the currencies into American dollars.

Historically, an individual who wished to exchange a sum of money into a different currency would be required to first convert that money into U.S dollars, and then convert it into the desired currency; cross currencies help individuals and traders bypass this step. The GBP/JPY cross.

ForexGen Broker | Meta trader4

With Forex Gen Broker you can Download ForexGen Platform to point out where to fix profits and losses.

If there is an uptrend channel, Take Profit order may be placed under the upper line and Stop Loss order under the lower line. If there is a downtrend channel, Take Profit order should be placed above the lower line and Stop Loss above the upper line.

If the price does not touch the upper line of the uptrend (lower line of the downtrend) this signifies that the prevailing trend is weak.

In order to create a channel line in MetaTrader 4 double click the left mouse button on the trend line...Also you can find more details at Forex Gen Academy