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- Access Your Trading Platform from Anywhere in the World
- EUR/SEK Likely to See Downtrend
- Euro Sees Bullish Week against SEK and NOK
- Dollar Releases Last Week’s Gains
| Access Your Trading Platform from Anywhere in the World Posted: 29 Mar 2011 05:51 AM PDT
Access Your Forexyard Trading Platform from Virtually Anywhere in the World Via the Webtrader Login. Forexyard offers its traders the ability to access the trading platform from virtually anywhere in the world. This solution is particularly useful for those traders who cannot download to their computer the Windows based FX-Trader platform. Via the Forexyard WebTrader, a trader can execute trades and manage their accounts in real-time with streaming prices, integrated charting tools and analytics. To access the Forexyard WebTrader, a trader needs only their username, password, and to select their appropriate account via one the suitable link below. For New traders on the Forexyard WebTrader – you can access through the following links: For Older clients please find your access links below: Traders can then save the login link to their favorites for easy access to the Forexyard WebTrader, allowing for quick access to their trading platform. Please note that the login for the MT4 account differs. To download the MT4 platform, click here. |
| EUR/SEK Likely to See Downtrend Posted: 29 Mar 2011 05:08 AM PDT
Following the recent bullish session the euro saw against the Swedish krona, it now appears that the pair has reached its peak and may turn downward. Technical indicators are showing that a prolonged bearish correction is likely to occur, giving forex traders a great opportunity to open up sell positions at a great entry price. We will be looking at the daily chart for EUR/SEK, provided by Forexyard. The technical indicators being examined are the Relative Strength Index, Stochastic Slow and Williams Percent Range. 1. The Relative Strength Index has already breached overbought territory and has turned downward. Traders can take this as a sign that there is a good chance that the pair is likely to move south. 2. The Stochastic Slow has formed a bearish cross right on the upper resistance line. This is a clear indication that the pair could see a downward correction in the very near future. 3. Finally, the Williams Percent Range has also broken into overbought territory and is pointing down. This lends further evidence to our initial claim that the pair is likely to turn bearish soon.
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| Euro Sees Bullish Week against SEK and NOK Posted: 29 Mar 2011 04:54 AM PDT
The last week saw the euro make fairly significant gains against the SEK, while it slowed down its recent bullish trend against the NOK. This was largely due to the likelihood that the euro-zone will raise interest rates next month. The prospect of a euro-zone interest rate hike seems to be overshadowing the recent renewal in sovereign debt worries that has plagued the region as of late and has caused investors to flock back to the 17-nation single currency. Over the last week, the EUR/SEK pair has shot up close to 1200 pips, and is currently trading around the 8.9735 level. The heavy bullish behavior the EUR/NOK saw at the beginning of the month seems to have tapered off, and the pair was only able to gain about 200 pips over the last seven days. Currently the pair is trading at 7.8930. Against the US dollar the Scandinavian currencies have been fairly steady since last week. Analysts attribute the inactivity to a lack of significant US economic news as of late. This is all likely to change starting tomorrow when the US ADP Non-Farm Employment Change figure is released. The figure is one of the more significant US indicators, and is considered an accurate predictor of Friday’s all important Non-Farms payrolls figure. At the moment, analysts are predicting a slight decline in the number of jobs added in the US since last month. If true, the Scandinavian currencies could capitalize on the news and see some short term gains against the dollar in the next few days. Against the euro, traders will want to pay attention to news regarding any future increase in interest rates. Confirmation of a rate hike is likely to lead to bearish week for the kroner. |
| Dollar Releases Last Week’s Gains Posted: 29 Mar 2011 01:20 AM PDT
The dollar was off of its last week highs versus the majors as positive US economic data feeds into USD selling. The euro, pound, and Canadian dollar were all stronger versus the greenback as traders await economic data from both Britain and the US. Today's Economic Data Releases: GBP – Current Account – 8:30 GMT The pound has come off of last week's high, after which sterling shed 5 cents on the US dollar. The declines in sterling may be overdone but momentum has yet to pick up. A better than expected current account release would help the pound recover. Initial resistance for the GBP/USD is located at 1.6050, followed by 1.6200. To the downside where momentum is pointing, yesterday's low of 1.5930 should be supportive as the 100-day moving average comes in near this level. A breach of this level may target 1.5870 which is the 50% retracement from the December to March move. USD – Conference Board Consumer Conference – 14:00 GMT Yesterday's stronger than expected US personal income and personal spending data is a positive sign for the US economy and fed into USD selling. A better than expected CB survey should extend yesterday's trends and be a negative for the greenback. The USD/CAD has steadily declined and continued USD weakness could continue to push the pair lower. First support is found at 0.9730 with a target the swing low at 0.9666. Resistance is located at the 50-day moving average that comes in at 0.9830. |
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