Forex Crunch Announcing Winners of Forex Trivia Quiz

Forex Crunch Announcing Winners of Forex Trivia Quiz

Announcing Winners of Forex Trivia Quiz

Posted: 06 Sep 2010 03:33 AM PDT


The forex quiz has come to an end, and it’s time to announce the winners.

A reminder of the quiz rules: The winners are the top three participants that received the highest amount of "Likes". The winner will be awarded $100, the runner up – $50, and the person in the third place will get  $25. The payment will be made directly to the participants' PayPal accounts, with . There's no need to open an account with any forex broker.

  1. Affan Dafananto: first place, with 81 Likes, will receive $100.
  2. Andrea Agustiady: second place, with 66 Likes, will receive $50.
  3. Ezza-san Junior’Fighterz: third place, with 40 Likes, will receive $25.

The winners have been contacted and will receive the money via PayPal.

Forex Rate It and Forex Crunch would like to thank everybody that participated in the trivia quiz.

We hope you’ve enjoyed it and we that you enjoy our forex websites!

Want to see what other traders are doing in real accounts? Check out Currensee. It's free..

EUR/USD Sep. 6 – Drifting Higher on Low Volume

Posted: 05 Sep 2010 11:21 PM PDT


EUR/USD is trading highe in a secondary channel, but moving very slowly as North American traders are on holiday. Here is a quick update on technicals, fundamentals and community trends.

eur usd forecast September 6

EUR/USD within uptrend channels. Click to enlarge.

EUR/USD Technicals

  • Asian session:  Very quiet session, with Euro/Dollar edging higher above 1.290.
  • Current Range is between 1.2870 to 1.2930
  • Further levels: Below, 1.2840, 1.2722, 1.2610, 1.2460 and 1.2330. Above   1.2930, 1.30, 1.3110 and 1.3267/
  • Uptrend channel dominates: EUR/USD trades in an uptrend channel. Uptrend support began from the lows it reached on August 24th through a low on August 25th. Uptrend resistance began on a swing high on August 24th and was formed on August 26th. After losing it, EUR/USD returned to this range, and even tested the top limit with a swing move to 1.2855 – exactly at uptrend resistance. Currently the pair is in the middle of channel.
  • Secondary channel forming: The uptrend resistance is the same as in the main channel, but the uptrend support is closer – began only in September.

EUR/USD Fundamentals

All times are GMT. Most important events emphasized.

  • 8:30: Sentix Investor Confidence. Exp. +8.7 points.

EUR/USD Sentiment

  • Market is drifting between “risk on” and “risk off” with a tendency to “risk off”. With “risk off”, good US figures boost the dollar and bad ones hurt it. When risk is on, bad US figures boost the dollar. In recent days, we’ve seen more normal behavior.
  • The 1.2610 line is critical on the downside, 1.3110 on the upside.
  • US and Canada enjoy a long weekend – Labor Day. This makes trading much more quiet today. It may provide opportunities for range trading.
  • Currensee Community: 57% are Short, 43% are long. These are 980 open positions in real accounts trading this pair at the moment.

Note – This is a new and still experimental section on Forex Crunch. It’s still in development. Want to see what other traders are doing in real accounts? Check out Currensee. It's free..

Forex Daily Outlook – September 6 2010

Posted: 05 Sep 2010 02:00 PM PDT


We start the week with some interesting updates on ANZ Job Advertisements in Australia, ECB President Jean-Claude Trichet specks in Europe and more. Let’s see what’s awaiting us today

In Europe, President of the European Central Bank Jean-Claude Trichet speaks at the National Bank of Romania Gala Concert, in Bucharest. The Euro may be affected and info provided on future monetary policy.

Also in Europe, Sentix Investor Confidence index released monthly, based on a survey of about 2,800 investors expected to rise above July’s 8.2 points reaching 8.7 points. As a leading indicator of economic health it is a promising sign for the Euro-Zone economy.

For more on the Euro, read the EUR/USD forecast and Casey Stubbs' latest analysis.

In Great Britain, BRC Retail Sales Monitor measuring the change in the value of same-store sales at the retail level released monthly showed 0.5% increase in July. A similar rise is expected now.

Read more about the Pound in the GBP/USD forecast.

In Australia, ANZ Job Advertisements measuring the change in the number of jobs advertised in the major daily newspapers and websites covering the capital cities showed another rise in July which is 36% above the same month last year it rose 1.3% in July after the upwardly revised 2.8% rise in June. Another rise is expected now.

More in Australia, MI Inflation Gauge measuring the change in the price of goods and services purchased by consumers, released monthly rose 0.1% in July after 0.3% in June a similar rise is expected now.

Finally in Australia, AIG Construction Index measuring the level of a diffusion index based on surveyed construction companies reached 43.3 points in July 3.1 less than in June. A small rise is expected now.

For more on the Aussie, read the AUD/USD forecast.

That’s it for today. Happy forex trading!

Want to see what other traders are doing in real accounts? Check out Currensee. It's free.

 

Forex Binary Options Setups – September 6-10

Posted: 05 Sep 2010 07:00 AM PDT


Rate decisions, job figures and many more high risk news forex events provide opportunities for binary options trading. Here are potential setups for forex this week.

Binary options can be utilized as an alternative to the traditional stop loss, as a tool for protecting against false breakouts and lots more. One-hour binary options can be used for trading on news events. 

You can trade binary options at StartOptions, a respected binary options provider.

I’ve selected the events and the setups based on information already prepaed for the forex weekly outlooks, and the potential reactions to unexpected results. Some events collide with each other and could offset each other. These events aren’t in the list.

Quick explanation:

  • CALL options – if the price closes above the price you purchased at expiry, you earn 75%. If it closes below, you’re left with 10%.
  • PUT options – if the price closes below the price you purchased at expiry, you earn 75%. If it closes above, you’re left with 10%.

OK, let’s review the events. All times are GMT.

  1. Australian rate decision: Tuesday, 1:30. Market expectations currently stand on an unchanged rate. A raise to 4.75% -CALL option on AUD/USD.
  2. German Factory Orders: Tuesday, 10:00. Market expects +0.6%. +1.5% or more, CALL option on EUR/USD, A negative outcome, PUT option on EUR/USD.
  3. Japanese Core Machinery Orders: Tuesday, 23:50. Market expects +2.0%. +2.8% or higher – PUT option on USD/JPY. 1% or less, CALL option on USD/JPY.
  4. Australian Home Loans: Wednesday, 1:30. Market expects +1.1%. 2% or more, CALL option on AUD/USD. Negative number, PUT option on AUD/USD.
  5. British Manufacturing Production: Wednesday, 8:30. Market expects +0.3%. +0.7% or higher, CALL option on GBP/USD.Negative number, PUT option on GBP/USD.
  6. German Industrial Production: Wednesday, 10:00. Market expects +1.1%. +2% or more, CALL option on EUR/USD, A negative outcome, PUT option on EUR/USD.
  7. Canadian Building Permits: Wednesday, 12:30. Market expects -4.7%. -7% or worse, CALL option on USD/CAD. Positive outcome, PUT option on USD/CAD.
  8. Canadian rate decision: Wednesday, 13:00. No consensus. Unchanged rate of 0.75% – CALL option on USD/CAD. Rate hike to 1.00%, PUT option on USD/CAD.
  9. Canadian Ivey PMI: Wednesday, 14:00. Market expects 55 points. 58 or higher, PUT option on USD/CAD. Below 50, CALL option on USD/CAD.
  10. Australian Employment Change: Thursday, 1:30. Market expects +25.3K. +36K or higher, CALL option on AUD/USD. +10K or less, PUT option on AUD/USD.
  11. British Trade Balance: Thursday, 8:30. Market expects -7.5 billion. -6.5 billion or better, CALL option on GBP/USD. -8.2 billion or worse, PUT option on GBP/USD.
  12. Japanese Final GDP: Thursday, 23:50. Market expects upwards revision to 0.4%. 0.1% or less (contraction) – CALL option on USD/JPY. 0.7% or higher, PUT option on USD/JPY.
  13. French Industrial Production: Friday, 6:45. Market expects +0.8%. +1.6% or more, CALL option on EUR/USD, A negative outcome, PUT option on EUR/USD.
  14. British PPI Input: Friday, 8:30. Market expects +0.3%. +0.8% or higher, CALL option on GBP/USD. Negative outcome, PUT option on GBP/USD.
  15. Canadian Employment Change: Friday, 11:00. Market expects +23.9K. +45K or higher, PUT option on USD/CAD. +12K or less, CALL option on USD/CAD.

These expected market reactions and setups are general market commentary. This is by no means investment advice.

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