The Forex

In the forex market, American dollar gained again the euro after mixed economic data. According to Commerce Department data, bookings for long-lasting goods advanced 3% after rising 4.3% the prior month, this is the biggest back-to-back gains in almost a year. Figures from the Commerce Department showed Purchases of single-family properties decreased 2.2% from the prior month to a 307,000 annual pace. Latest report released by Conference Board indicates that the U.S. economy will keep growing, the index of leading indicators rose 0.4%. Data from the Labor Department showed jobless claims rose by 21,000 to 377,000. Even though there are some improvements, the Federal Reserve is still cautious. In its latest statement the Fed said “Strains in global financial markets continue to pose significant downside risks to the economic outlook”.

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

The forex market investors shifted their interest to safer assets. Uncertainties in the global economy have been increasing the demand for gold. The commodity currencies have been getting stronger as well. The day after the Federal Reserve’s announcement, gold jumped to its biggest one-day rise in three months. Gold prices are also getting support from options traders. Meanwhile, A poll carried out by Reuters showed most of the economists expect gold to continue its bull run in 2012. Commerzbank analyst Daniel Briesemann said “At the moment everything points to even higher prices, given the strong risk appetite, the better mood among market players, the strong equity markets and the weak dollar”. Analyst at Barclays Capital, Suki Cooper said “Coupled with continued central bank appetite for gold, the broader macro backdrop remains conducive for gold price gains, given negative real interest rates, concerns over longer-term inflationary pressures and uncertainty surrounding the financial markets and economic outlook”.

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

As fears mount that the eurozone debt crisis could trigger a global recession, all eyes are on Germany to take an even stronger lead in the rescue efforts. European leaders and the International Monetary Fund want Germany to increase its contribution to the European Stability Mechanism. But lately German Chancellor Angela Merkel disappointed these expectations. Neither eurobonds nor more stimuli that would see the ECB print more money are acceptable options for Germany. The forex market investors think the problem is that the austerity that Germany wants will push Europe into a deflationary death spiral, then the EU economy will contract and tax revenues will fall.

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

By gaining direction from the fundamentals in the economy allows us to enter trades with a solid understanding.

Gold in the forex market is known as XAUUSD.

It is paired with the USD. Therefore when the US release such news in regards to it’s interest rates. We can expect pairs that is paired with the USD to rise. Especially GOLD.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Forex Market

Markets are going to remain nervous for some more time as S&P ratings agency punished nine eurozone countries with downgrades and to striped France and Austria of their triple-A ratings. Even though S&P said that Germany’s rating is in excellent condition, the downgrading is likely to have direct consequences for country. EUR/USD had fallen sharply after the statement. Forex market investors should be cautious as the bad news will have more impact on the financial markets.

S&P said “We have lowered the long-term ratings on Cyprus, Italy, Portugal, and Spain by two notches; lowered the long-term ratings on Austria, France, Malta, Slovakia, and Slovenia, by one notch; and affirmed the long-term ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands. All ratings have been removed from CreditWatch, where they were placed with negative implications on Dec. 5, 2011 (except for Cyprus, which was first placed on CreditWatch on Aug. 12, 2011)” in its statement. We believe that the negative outlooks for virtually every eurozone country suggest that the debt crisis will remain an issue for the forex market throughout this year.

Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

EU leaders have to act faster and regain investors’ confidence in order to control the ongoing crisis. However, it seems that eurozone chiefs will continue to rely on state level solutions like fiscal union and debt brake. In addition, the downgrade of the nine countries will increase pressure for all of the eurozone countries to solve their budget and debt problems. Some forex market investors think that relations among the eurozone members are likely to become more difficult after this point.

Forex market has been expecting downgrades of France and other European countries, but it is hard to tell how much the downgrades have already been priced in. director of the European Centre for International Political Economy, Fredrik Erixon said “The U.S. is still rightly seen as a safe haven. The U.S. is a big liquid economy with a strong tradition of honoring its debts in modern times and a central bank pledged to take action if needed. It’s different with France in the sense that they cannot rely on strong central bank policies”.

Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

Forex Market

What we can take away from the above analysis is that. With more possible downgrading to come on other European Countries. We will remain bearish when trading the Eur. And to look for opportunities to enter on rebound of the Eur/Usd.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Eur Usd

Forex market continues to be stable during the Asian session today despite the mixed news that has emerged over the past 24 hours. Even though the latest report showed that eurozone industrial output fell in November on weakening consumer spending capability, lower Italian and Spanish borrowing costs boosted forex investors’ optimism. Investors expect to see a similarly positive result when Italy sells up to €4.75 billion of longer dated bonds today. EUR/USD is trading at 1.2819 by the time of writing.

The successful debt auctions, moderating inflation in China and positive news from the ECB eased fears of an impending meltdown in the financial system. The European Central Bank kept interest rates unchanged at 1% as widely expected. European Central Bank President Mario Draghi said “Uncertainty is very high. The monetary stance is and will remain accommodative. We will monitor all developments and stand ready to act. There are tentative signs of stabilization of economic activity at low levels. It was rather comforting to see that some opening of the unsecured bond market is actually taking place, but we really are at the beginning of this process. Let’s hope it will continue”. EUR/USD rose after Draghi’s comments.

EUR/USD Rallies After Smooth Spain and Italy Auctions

The European bond sales went smoothly but we believe that EUR/USD gains will be limited. There is still uncertainty ahead because of rating firms’ possible credit review actions and worries about the eurozone’s sovereign debt problems won’t fade away overnight. We see that the forex market participants will be keeping their focus on eurozone as the lack of agreement by European leaders on how to implement fiscal reforms to prevent contagion puts the region at risk. But for now the focus shifted to the other side of the Atlantic. The latest data showed that U.S. retail sales rose at the weakest pace in seven months. Weaker economic data that reminded investors of the fragility of the U.S. recovery even if the country is on the right track.

EUR/USD Rallies After Smooth Spain and Italy Auctions

Today forex market investors will be watching the news closely. U.S Trade balance and University of Michigan Consumer Sentiment reports will be released today and will affect the Eur Usd Pair.

Nevertheless, we do not trade the news. But it is always important to stay away 30min-2hrs before news as there will be tendency to see spikes in the market which may trigger your stoploss.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Forex Trading

Wow! Can’t believe it but we are now in Year 2012!

How time flies, and it was only like a day ago =P(truth is a year ago) where i asked What’s your new year resolution?
Read this post: http://www.asiaforexmentor.com/whats-your-new-year-resolution/

SO!

Have you achieved your Goal last year?

Or did you NOT set any Goals last year?

Nevertheless, i will sincerely stand up and applaud you if you have achieved the goal you have set last year.

Because, you are an achiever. A DOER!

You make things happen. You are one who recognises that opportunities are created and goals are achieved all through sheer perseverance and discipline.

The very same applies in Forex trading.

Which is why forex trading is very VERY closely related to our daily lives.

The emotions we expose outside of the forex trading world, WILL be the same emotions we have in our forex trading.

So would you wish and strive to make yourself:

- CALMER and more compose
- Reduce your bad & hot temper
- Reduce your greed level & impulse level
- Increase your discipline
- Reduce your laziness and procrastination

If you can achieve the above in this year 2012!

It will not only aid in the real world you live in, it will also largely aid in your forex trading.

By achieving the above goals – You WILL be a better person.

And NOT only that.

You will be someone that achieves GREAT THINGS!

So come on,

Read the above GOALS again and make sure you will improve on all of the above this 2012.

This slight improvement will pave the road for greater things from now on!

DO IT!

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

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Forex Tips

Forex Tips – Example: Eur Cad

I’m going to show you a forex good setup that you should keep in your records for your future forex trades.

In the Forex chart above. We have a highlighted blue box.

It compromises of a:
- long bearish red bar
- Some small bars after the red bar (not bigger than the red bar)
- Followed by a price pin bar (long green color)

This is fact is a very good forex setup alone.

What we have here is a good selling momentum as seen by the bearish red bar.

Then price consolidates for a little while, making small bars inside the previous red bar.

They are preparing for the big move.

And as you should already know if you have been reading my forex trading strategies.

For price to go further down or up, it needs to take a “breather” first.

Then after, we see a forex price action pin bar. This is our signal for an entry.

And we will take a sell position here.

Forex Tips – A Good Forex Setup

Forex Tips

To further affirm our entry, we want to find more confluence.

More factors to support our sell movement.

If you look at the chart, you will see that i drew a White line.

This white line is a previous strong support – supporting previous lows.

And now price has broken the support to make it a new resistance.

And so we have our forex setup at a strong resistance!

Which is a very good forex signal with confluence.

Forex Tips – A Good Forex Setup

As you can see, forex trading is not difficult once you understand price action in detail with combination of our forex trading strategies and system.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

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Euro Crisis

From our last post on the euro crisis – http://www.asiaforexmentor.com/euro-crisis-what-can-we-expect-for-the-eur-and-the-usd/

It is going with our expectations.

Recent news from the Europe side does not in anyway aid the current situation.

It’s like a business partnership involving several friends.

And as you already know, MOST business partnerships eventually fail in the business world.

The EURO involves 23 countries. So we have 23 business partners in this partnership.

And with such big partnership, there is bound to have internal conflicts.

Euro Crisis – Updates

Euro Crisis

Which we are already seeing between France, Germany, Netherlands, Greece, Finland etc.

When partners do not see eye to eye in a business, it would most likely eventually close down.

Which for the Euro Crisis case = Disband.

The recent plummet of the Euro comes as no surprise.

The one who is benefiting is the USD.

All of the sudden, the USD looks very favourable and safe.

WHICH IS ABSOLUTELY UNTRUE just based on the mounting debts in the US, high unemployment rate, near zero interest rate, etc.

Which ever the case, the fact is both the Euro and the USD cannot go down together at the same time.

One has to go first, and in this era. The Euro goes first.

Therefore with the bearish fundamental in the Euro crisis zone.

We will still continue to short the Euro with our technical setups.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies | system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

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Trainee Forex Trader

Foex

In this Foex pair: Usd Jpy

There is a price action foex price action pin bar + bullish outside bar on the 4hr time frame (right chart in the picture).

Indicating an upwards movement.

Most new foex traders would have entered on it right away – placing a buy order.

But there’s a problem that these new traders do not realise and because of this. They would have gotten losses most of the time.

Foex , Professional Forex trading strategies

If you look at the 1hr time frame (left chart in the picture)

You would have seen a orange line right above the current price movement.

That’s the 150 moving average.

Meaning, the 150 moving average is possibly blocking its upwards movement.

Well, of course it may actually protrude right up to go pass the moving average.

But we do NOT want to take the chance. Right?

What if it hits the 150 moving average and gets rejected to go back right down?

Then we would have made a loss.

Foex , Professional Forex trading strategies

You see.. This is the exact reason why most foex traders lose in their trades.

They FAIL TO LOOK AT MULTIPLE TIMEFRAMES!

That is a deadly error.

What i am showing you here is only the 1hr and 4hr time frames. I have not shown you the other bigger time frames which would have support/resistance as well.

Most traders enter on a trade which looks good at 1 timeframe.

But they fail to realise that there are blockages (support or resistance) at the other timeframes – opposing the move.

Which would be the reason why the trade did not work out.

And after a series of such trades. They decided that foex is a scam and no matter how they trade, they still lose.

BECAUSE THEY FAIL TO LOOK AT THE BIG PICTURE!

Foex , Professional Forex trading strategies

By Correcting this foex mistake ALONE, you will see an increase in profits and winning trades.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

P.S: Do “Like” the post and share it if you find it useful!

Forex Tips

Forex Tips

If you look at the forex chart above. You may find the above scenario familiar.

Many a times, new traders always want to catch the bottom.

So that when it goes up, they will get plentiful of pips.

There’s nothing wrong with that idea. But the sad fact is, it is NEVER easy to catch a bottom / lowest point.

Forex Tips – In the chart, if you had tried catching the lowest point, you would have made several losses.

Eg. You enter on 1 point hoping that it is the rock bottom. But it wasn’t and went further down.

Now you had made a loss on that trade. And you want it back.

So subconsciously in your mind, you feel that it cannot go any further down anymore.

So you enter on the same pair again and this time at a lower point. (thinking that this MUST be the lowest point)

But it wasn’t and you made a loss again as it went down further.

Now you are REALLY PISSED OFF.

Forex Tips: Never catch a falling bus

Forex Tips

You will then have 2 choices:

1) You either totally quit trading that pair

2) You want to get back at that trade, so you continue choosing the “lowest point” thinking that you will surely get that right this time round and make back all the money you had loss.

Which ever choice you made, sorry but it’s wrong.

1) You shouldn’t quit trading that pair, instead you should relook the pair and to see If it is really going to get back up or is it going to continue down. So my advise is, if you feel that it is going down and the bearish trend and momentum is real strong. Then you should NO longer try to pick a bottom BUT to trade with the trend. The Down Trend.

2) You are now having a “Revenge” mentality. Which is very common with new traders. And you have to get rid of this habit of picking a bottom.

Forex Tips: Never catch a falling bus

Forex Tips

As mentioned, picking a bottom is never easy.

To pick a bottom,

1) You must have confluence supporting the move

2) You must have at least 2 profit taking point.

- The first profit taking point is only a short distance away. The reason behind it is that, in most cases, price will go up a little to hit your first profit taking target and then to head back further down.

Therefore, after your first profit taking target is hit. You should shift your stoploss to breakeven for your 2nd position (2nd profit taking target)

All and all. As mentioned repeatedly, try NOT to catch a falling bus. It is never easy.

Forex Tips
Why want to enter a trade that has the odds against you?

Why not enter a trade when the odds is WITH you? – Same trend.

This forex tips again may sound very basic. But it is also a core fundamental that you should take with for every trade.

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies | system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Forex Trading Strategies

I am very pleased to bring you this new Forex Trading Strategies layout!

It is segregated into different levels.

Beginner to Expert level.

It is recommended to start from the beginner level even if you are already an expert as you may find something useful that you had missed out all along!

You can click on the Forex Trading Strategies link in the menu bar.

Or alternatively, you can click here: Forex trading strategies

To your Forex success!
Ezekiel Chew

P.S. Pls remember to +1 and “Like” the new forex trading strategies page!!

We will keep delivering the best to you!