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Three weeks ago, we mentioned that many traders were taking a 'once bitten, twice shy' attitude toward the Swiss franc after the SNB's historic decision to drop its cap on the franc in mid-January. EURCHF has since stalled out, perhaps on fears ahead of tomorrow's ECB meeting and press conference,
After a blistering morning trading session, North American markets calmed themselves in the afternoon and began repairing some of the damage they had done. Equities found their lows after PMI data hit the wires, but meandered higher throughout, the USD had a banner day against the EUR and GBP, Gold
We have been a big AUDNZD bear since late 2012 when price was above 1.3000. Overwhelming fundamental weakness stemming from diverging monetary policy paths of Australia and New Zealand has been the driving force behind the sell-off. As the RBA continued to cut interest rates in 2012 and 2013 it
EURUSD With seen weakening, further decline towards its key support the 1.1096 level is expected. Support is seen at 1.1050 level with a cut through here opening the door for more downside towards the 1.1000 level. Further down, support lies at the 1.0950 level where a break will expose
Price remains within a Bullish Channel which has been forming since the Jan low, with yesterday's Bullish Hammer respecting both the trendline and the 18540 support level. Intraday price action appears to be on the cusp of breaking above yesterday's highs to pave way for a return to the 18978
The Australia 200 index just continues on its merry way steadily moving higher above the key 5800 level to reach yet another multi-year high near 6000. It has in the last day or so eased back a little to 5900 after meeting some stiff resistance at 6000. In the last
In the last 48 hours the Australian dollar has made repeated attempts to move up strongly to the resistance level at 0.7850 however it has been rejected every time and sent back easing lower. After finally springing to life in the middle of last week, the Australian dollar dropped sharply
Losses developed as expected even breaking below the channel low to reach just below the 132.45 target at 132.39. This should see a correction back to the 132.80-94 area (and not above 133.22) for losses down to 131.86-132.09. Watch for bullish reversal indications for a correction higher. The
All-round Dollar strength today. The Euro (1.1071) has broken below its previous low of 1.1114. The Pound (1.5253) has also broken below the support at 1.5335-15 we were looking at. Dollar-Yen (119.80) is also holding well above 119.50-40. The Aussie (0.7817) is stable.
THE EURO closed lower on Wednesday and the lowrange close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off February's high, monthly support crossing is the next
The USD continued to maintain a firm tone against most currencies with the USD Index hitting fresh 11-year highs. Some dealers noted that the USD Index was approaching the 50% retracement level of its global crisis moves from its 2001 highs to the 2008 lows around the 95.85 area
To everybody's astonishment, the RBI lowered the benchmark repo rate by 25 basis points to 7.50% via surprise action in an effort to “compensate the delay in fiscal consolidation” and to comply with PM Modi's budget announcement While the new budget was rather expected to displease the RBI and
The EURUSD is currently teasing a return to the eleven-year low at 1.1097 after falling to 1.1115 moments ago. The Euro fall has been driven by the acceptance that issues such as stagnant economic growth and deflation risks are not going to be exiting the horizon anytime soon. There are
A mixed batch of economic data from Europe on Wednesday morning is providing little direction for the financial markets at a time when investors are already likely tread with caution with the ECB meeting and US jobs report still to come this week.
So far this year the easing programs of the world's biggest Central Banks are pushing the smaller national banks to new policy extremes. Nearly every other week investors are left to figure out the effects to Capital Markets of a surprise cut here and there. Investors should be blaming the
The North American trading session has been quite exciting so far this morning as a variety of events have hit the wires that have immediate as well as long-term impacts on markets. As for the immediate, the usual barrage of pre-Non-Farm Payroll releases were unleashed which helped paint a clearer
The ISM non-manufacturing index unexpectedly edged upward by 0.2 percentage points to 56.9 in February 2015 to build on a similar-sized gain in January. Market expectations had been for a slight decrease in the measure to 56.5. Combined with the ISM manufacturing report released on Monday, March 2, 2015, the
The Bank of Canada left the overnight rate unchanged at 0.75% on March 4, 2015 after surprising markets with a 25 basis point cut at its previous meeting in January. Since the Bank's January Monetary Policy Report (MPR), the economic outlook has evolved roughly as expected with fourth-quarter 2014 gross domestic
No matter how pleasant the recent improving data in the Euro area is looking, it cannot seem to stop the falling Euro. The Eurozone retail sales rose for the fourth month in a row with the expansion speed at a 9-year high. Data shows how the tumbled oil prices have
Today's Beige Book report, compiled in preparation for the March 17 and 18, 2015 Federal Open Market Committee (FOMC) meeting, noted that activity "continued to expand" across most regions and sectors of the US economy during the reporting period, with the overall assessment not changing significantly relative to the previous
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