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Foreign Currency Exchanges

The global exchange market for trading currencies is one that features over-the-counter trading in a decentralized system. This market is what sets value on different currencies. Currencies around the world have unique value and therefore the trading of currency requires that a value be set for each type. When currency can be converted easily, business, international trade and foreign investing can be performed seamlessly. Foreign currency exchanges allow investors and companies to purchase products and goods using a currency that is not the normal currency that they use for business purposes. A sum of currency may be purchased using a sum of another currency.

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Forex Market Commentary May 10th 2011

Forex Market Commentary—After significant correctional sell offs on most currency pairs, the Market tis in a small limbo waiting for breaks above and below previous highs and lows before trade positions will be revealed, Long or Short. Be very careful taking any position before this confirmation. If and when the Market determines to make the full break back up to higher ground, it will probably be with higher volume and happen quickly. The Market might come down a little lower but not necessarily very much before a full reversal back to the general up or down-trends.

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Euro zone debt dominates, commodities rebound

By Jeremy Gaunt, European Investment Correspondent

LONDON | Mon May 9, 2011 4:34am EDT

Concern about plans for a fundamental review of the bailouts given to Europe’s high debtors dominated debt markets on Monday although the euro itself rose, rebounding from recent sharp losses.

Europe stocks recovered from early losses and commodity prices firmed, bouncing back from their biggest weekly drop since 2008 as the dollar eased back.

Focus in Europe was on the state of debt in the euro zone’s peripheral economies following an unusual and secretive meeting of selected financial officials on Friday who discussed the need for new adjustments to Greece’s aid program.

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Forex Market Commentary May 06th 2011

Forex Market Commentary— JPY cross currency have been selling off in wave 5 of C in an a,b,c pattern through the Frankfurt and London sessions and are ready for the wave 4 of the 3 a C. USD/CHF finished its wave 5 downward and has turned back up-ward, opposite the EUR/USD and GBP/USD pairs that have sold off. USD/CAD and USD/JPY are correlated with the USD/CHF for now.

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Forex Market Commentary May 05th 2011

Forex Market Commentary—We are now in the wave 4 following the wave 3 that was spoken of in yesterday’s Market Commentary. Now the challenge will be to determine the depth of the wave C of this wave 4 on the GBP/USD. EUR/USD is likely in a complex corrective sideways ranging pattern. I may be about to complete a second X-wave and reverse for the third a,b,c down turn before resuming its general up-trend. JPY cross currency pairs are in their wave 4 and soon 5 of a C wave or a wave 1. We are waiting for final conformations to make that determination. USD/CHF is about to finish a wave 5 downward and then turn back up-ward, opposite the EUR/USD and GBP/USD pairs. USD/CAD and USD/JPY are correlated with the USD/CHF for now.

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Forex Market Commentary May 04th 2011

Forex Market Commentary—Caution was wise yesterday as the GBP/USD broke new lows and sold off in a dramatic drive to almost 100% of its prior wave 3, causing one to question whether or not that threshold will also be broken. Many other pairs are also selling off, not as violently however, and some lagging behind their correlated pairs. Leading trends are good windows of insight into their lagging pair. The 4 hour time frame is the best for visual perspective. Be cautious of the termination of wave 3 coming soon and the reversal or retracement of the wave 4 that follows.

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Forex Market Commentary May 03rd 2011

Forex Market Commentary—There is a common consolidation among most currency pairs waiting for a confirmation above previous highs for a wave 5 of to break below previous lows for a wave 3 of a wave C. Caution is advised in a potential Bull and Bear Trap market condition. Sideways ranging is due to barriers on upper time frames forcing lower time frame price action to range sideways for a longer period of time, also causing more challenging reading of Elliott Wave count alternates.

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Forex Market Commentary April 29th 2011

Forex Market Commentary—many currency pairs seem to be in a similar wave 4 consolidation, but should continue their general trends soon, perhaps today.

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Dollar depressed, stocks cheer easy Fed

Source: http://www.reuters.com/article/2011/04/28/us-markets-global-idUSTRE71H0EB20110428

SYDNEY | Thu Apr 28, 2011 12:18am EDT

SYDNEY – The dollar slumped to three-year lows on Thursday, pushing U.S. crude Oil to a 2-1/2 year high, while Asian stocks rose as investors bet that the easy U.S. monetary policy will continue to drive money to riskier assets.

The Bank of Japan is also expected to maintain its ultra-loose monetary policy later in the day and indicate its readiness to ease further if damage from last month’s earthquake proves bigger than expected.

Putting pressure on the BOJ to do more, latest data showed Japanese factory output fell at a record pace in March.

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Forex Market Commentary April 26th 2011

Forex Market Commentary—All JPY currency pairs are still on their wave 5 up-ward, seen best on the 4 hour time frame. EUR/USD and GBP/USD along with most other currency pairs are in a bit of a limbo phase waiting to see if they are about to complete a B wave or have begun a wave 5 already, after rather a sideways ranging correction. Beware of Bear and Bull Traps in some of these more complex corrective patterns forming. This is not a high probability trading environment until proper confirmations can be accounted for. USD/CHF and USD/CAD are in opposite correlated positions, but in the same quandary. This is a watch and wait game today until confirmations appear.

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