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Stop Loss! – Keep your losses under control when trading forex. Like any sort of trading or investing, there is always a risk involved. By utilizing a broker who supports the “stop loss” option you can protect yourself from being burned when you trade forex.
Our broker of the month, UFXBank would like to invite you to test drive their platform and use the safety of “stop loss” when trading.


Promotion of the Month

UFXMarkets provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXMarkets traders can access the biggest market in the world 24 hours a day with ease. By keeping their platform, site and deposit process simple, safe and secure, UFXMarkets have become the web’s premier online forex trader.

Broker of the Month

 logo UFXMarkets provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXMarkets traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXMarkets have become the web’s premier online forex trader


Forex Guides

  • Elliott Wave: VIX Testing Levels From 2008

    Below we can see VIX chart. This is a volatility index of the S&P500; actually measures an “investor’s fear” in current market conditions. The greater the fear is, the higher the VIX level will be. If the fear decreasing in the market than you will see VIX falling; like in our case. The results of course, are higher stock prices; higher S&P500. VIX is at very low price right now, and S&P 500 is very high, so we can say that trade is “overcrowded”, because there is no fear in the market and a lot of investors are buying it. But as you know, usually when something is overcrowded the opposite reaction follows. In our case this would be on the upside. From a technical perspective, we can see a triangle on VIX chart before market fell into a new low. But since the VIX is in a downtrend we know that triangle can be placed only in wave 4, because triangle can never appear in wave 2. And here is the next important fact from an Elliott Wave perspective: “triangles unfold just prior to the final move in the larger pattern”. So, wave 5 must be a final move as shown on our chart, which means that reversal from the lows should follow in the near term; at least into a higher correction, because after every five waves temporary change in trend occurs! So, if we are on the right track here, then top on the S&P500 is also near. Market is currently testing 13000 psychological level… In 2008, before the stock market collapsed VIX hit the lows around 16. If you need more Elliott Wave forecast, especially on the intra-day basis, please visit our website and check Video Tour of Our Products here.

    Written on Sunday, 06 February 2011 14:13
    2 comments
  • EUR/AUD Buy Recommendation Issued @1.3000; Stop 1.2880

    Contributed By: DailyFx  FUNDYSJapan was closed for holidays and overall price action thus far has been quite uneventful in early Thursday trade. The Yen has actually been the most active major currency on Thursday, gaining a bit, but the price action could very well be attributed to the closed session of trade. Things are going to really lighten up significantly into today and tomorrow ahead of the holidays, and this is a recipe for an unpredictable market that will either do nothing at all, or make some wild moves on the very low volume trading. Either way, trading in these conditions is not recommended, and if you do take some shots, it is extremely important that very tight risk management is employed.Relative Performance Versus USD Thursday (As of 10:15GMT) 1. YEN+0.71% 2. KIWI +0.70% 3. AUSSIE+0.56% 4. EURO+0.05% 5. STERLING+0.01% 6. CAD-0.12% 7. SWISSIE-0.14%The Swiss Franc and Australian Dollar continue to outperform (Eur/Aud cross by 1.3000; see below), with many of these cross rates trading to record and multi-year levels, while the major currency pairs have mostly been locked in consolidation. The news that China could be buying Portuguese bonds has been helping to buoy the Euro a bit, while the approval of the 2011 austerity budget in Greece, and Euro supportive comments from ECB Kranjec have also helped to prop for now. Nevertheless, ongoing downgrades and rating agency warnings can not be ignored and seem to be weighing more heavily on overall price action at the end of the day. Additionally, the major central banks have agreed to extend the temporary currency swap arrangements through August 1, 2011, which suggests that there is still a good deal of concern over the debt problems in the Eurozone.Meanwhile, the Pound continues to be an underperformer, with weak economic data and downbeat…

    Written on Wednesday, 22 December 2010 13:55
    1 comment
  • False Rebound

    Against all expectations the Q2 GDP figures for the UK economy demonstrated a growth of a remarkable 1.1%, one of the highest figures found anywhere amongst the emerging economies. Whilst political parties on both sides of the House debated as to who should receive the credit for such a boost, the real results were being felt across the markets. As the figures were released, unsurprisingly, sterling took a bounce against both the dollar and the euro. This hike wasn’t solely the result of the good GDP figures for the UK, but also on the back of fears that the stress-testing of euro banks would reveal that some banks weren’t quite up to scratch. These fears were later born out, and sterling looks set to rise further across the coming week. Economic experts in the UK predicted rather gloomily that the 1.1% growth would be as a good as it gets, pointing to the growth provided by the building and construction sector as a one-off due to catching up on the backlog left behind after the particularly bad weather of the winter. There is, however, another problem in the long run for the UK economy and that’s the fact that as long as it continues to perform well (or, more accurately, outperform the eurozone) sterling growing stronger is not actually going to be that much of an assistance to the recovery. The UK’s largest trading partner by far is Europe, and the government really needs a weaker pound against the euro to bring in extra trade to the UK and further drive the recovery. Of course, on current evidence, that simply isn’t going to happen, or not for any time soon, leaving the UK without a major region to export to (a problem that isn’t unique to Britain by any stretch)…

    Written on Thursday, 16 September 2010 10:04
    3 comments
  • Currency Cross
  • Rates
  • Analysis
US dollar (USD) Exchange Rates
Currency Last Rate Daily Change Open Prev Close
$1.2879 0.26% $1.2845 $1.2854
$1.5649 0.36% $1.5592 $1.5598
$0.9737 1.52% $0.9591 $0.9593
$0.1626 0.15% $0.1623 $0.1624
100 JPY
$1.1773 0.82% $1.1678 $1.1685
$0.8953 -0.43% $0.8991 $0.8998
$0.9652 -0.88% $0.9738 $0.972
1 EUR = 1.2879 USD
Aug 19 2010 10:29 ET


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