Euro Gains in Trade Session
Submitted by admin on Saturday, 12 September 20092 Comments
Consolidation for the euro above 1.4500
The euro has broken through resistance in fx at 1.4500, and is prepared to move higher, probably after a period of consolidation. Indeed, the euro appears to be having a good chance of consolidation as dollar weakness continues today.
Right now, the euro is moving forward on momentum.
Having cleared the key technical barriers of at 1.4500, the trade in EUR/USD has now entered pure momentum territory, a dynamic that academics call price-to-price feedback with pair rising simply because it has already risen.
If the stock market manages to continue to make gains today (in spite of futures pointing to a lower open), it is possible that the euro gains even more support in forex trading.
FOREX:Euro -USD pair. Can any one help please?
In FOREX Trade, when I trade Euro-USD pair, there is ALWAYS difference of 3 points, for example if I buy, I have to buy ( for instance at )1.3144 and if I sell the same, I will have to sell at 1.3140. What this means is that the moment I buy currency. I am already down 3 points and of I have to EARN a pip, the currency must move up at least four points just to gain a pip and on the other hand I am already down 3 points the moment I enter the trade! Doesn’t this mean that the CHANCES OF MAKING MONEY ON CURRENCY TRADE ARE JUST 1 in 4 or a meager 25 percent!!!!!!!??????
I am new to FOREX trade , so can you please give me FOREX trade tips- which currency pair to trade and which not to.
also highlighting the ADVANTAGES AND DISDAVANTAGES OF FOREX trading. I will appreciate SERIOUS replies. Thanks
HI !
Your problem is called spread. Spread is the difference between bid and ask price. Spread price depends on a brokerage company.
If you wan to learn more you may want to check out some course so you wont loose more money.
I suggest forexonlinecourse.com. And help with your trading check out forexonlinesignals.com.
References :
forexonlinecourse.com
forexonlinesignals.com
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