Lawrence Villamar

There are a number of important rules to follow when you are trading in Forex, or any other market. Every strategy will involve different objectives and methods, but there are some key points to consider such as having specific goals and objectives.

After initially being sold on the back of investment funds rumoured selling around 1.0950 for end of month, AUD was helped by the incredible one way move in commodities and solid support was found under 1.0900. Although there is further selling interest rumoured around 1.1000, traders are content buying the dip and looking for a clean break higher later this week.

Recent upward momentum and weakness in the Greenback propelled the Aussie Dollar to fresh highs yet again during yesterday's Asian session, topping out at 1.0940 before heading into offshore trade holding above the 1.09 handle.

U.S. stocks extended their multi-year highs Thursday as the market clung to optimism generated by the Federal Reserve's plans to keep interest rates low and the flow of encouraging corporate earnings. The Dow Jones Industrial Average rose 72.35 points, or 0.6%, to 12763.31.

US economic growth slowed from a 3.1pct annual pace in the fourth quarter to 1.8pct in the March quarter. Economists had expected growth of around 2pct. US jobless claims rose by 25,000 to 429,000 in the last week.

Markets interpreted soft economic data out of the US overnight as the green light to keep interest rates low for an extended period. Fed Chairman Bernanke’s comments on Wednesday night confirmed monetary policy will be accommodative, and the AUD continues to be one of the currencies benefitting from the declining USD.

AUD was initially sold in the European session as the buying interest waned. However, as has been the case for months now on the dip the buyers emerged and we were quickly back up to the highs. Traders now respecting resistance initially around 1.0950 but a break of there could see 1.1000 quickly and traders see this level as a target to aim for.

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The Australian government’s budgetary concerns over the Pharmaceutical Benefits Scheme (PBS) have been blown out of the water by the Government’s own figures.

Trading Forex has many purposes and you'll be surprised of the many levels traded that impact you and you're not even be aware of it.

With an extremely high inflation print yesterday and Bernanke signalling no change to rates, it was only one way the AUD could go and that was higher. Traders are still content to play it from the long side and many calling a test of 1.0950 or even 1.1000 by the end of the week.

U.S. stocks indexes surged to fresh multi year highs after Federal Reserve Chairman Ben Bernanke said the central bank would continue to reinvest proceeds from maturing securities and added that there was no specific time frame to begin tightening interest rates. The Dow Jones Industrial Average leapt 95.59 points, or 0.76%, to 12690.96, while the Standard & Poor's 500 index gained 0.62% to 1355.66.

Stocks powered to fresh multiyear highs, boosted by consumer optimism and strong earnings from industrial heavyweights. The Dow Jones Industrial Average gained 115.49 points, or 0.93%, to finish at 12595.37, a fresh three year high. The Standard & Poor's 500-stock index rose 11.99 points, or 0.90%, to 1347.24, while the Nasdaq Composite added 21.66 points, or 0.77%, to 2847.54.

The foreign exchange market is undisputedly the world’s largest market place with the average daily turnover in excess of US$4 Trillion.

After consolidating in the low 1.0700’s during the Easter period, the Australian Dollar commenced trading locally at 1.0784 and has since burst through 1.0800 as the USD remains under considerable pressure ahead of the FOMC announcement tomorrow morning.

AUD now trading at record highs as the high yield and negativity surrounding the USD continues to attract invest,ent funds into AUD. The breaking higher through to levels above 1.0800 is a quite bullish signal and traders continue to call it higher towards 1.1000 sooner rather than later. CPI released at 11.30AEST is sure to provide plenty of fireworks.

The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.2pct in February - ahead of expectations for a 0.3pct decline. Prices in the 20 cities have fallen 3.3pct over the year and the index is holding just shy of its 2009 low.

The Australian Dollar drifted below the $1.07 mark in quiet holiday trade during Asian hours yesterday. After reaching a session high of 1.0730 the Aussie had dropped to 1.0680 by the opening of European markets.

With a stronger Aussie dollar, there a lot of ways how Australians can take advantage of forex trading, One of these ways is online shopping. In fact, Australia is fast-gaining a reputation as a global hub for online shopping which makes online shopping using the stronger Aussie dollar more practical and advantageous.

We collated more free forex tips for beginners in foreign exchange trading. Additionally, you can peruse our free forex education section to familiarize yourself forex terminologies such as Spots and Forward Trading. But before you do that, here are carefully selected tip for forex trading novices,

The Australian share market closed more than one per cent higher heading into the longer than usual Easter break, with gold and energy stocks outperforming the index after commodity prices climbed overnight. On Thursday, the benchmark S&P/ASX200 index was 54.8 points, or 1.13 per cent, higher at 4913.8 points, while the broader All Ordinaries index was 55.5 points, or 1.12 per cent, up 4995.7. On the ASX 24, the June share price index futures contract was up 59 points at 4925 points, with 28,383...

Existing home sales rose by a larger than expected 3.7pct in March. However the median home price fell 5.9pct in March. The inventory of existing homes for sales fell from 8.5 to 8.4 months worth.

The important resistance level of 1.0600 initially held back the buyers as rumours of Asian Central banks were seen selling AUD, but the overwhelming sentiment to buy higher yielding assets and also the massive negativity surrounding the USD saw it quickly to record highs with traders now set on buying any dip back towards 1.0600/50 region calling for 1.1000

Oh what a night. The irresistible Australian Dollar has broken more records and surged through USD 1.0700 overnight.

The Australian dollar opens this morning at a rate of 1.0694 after advancing to a record high of 1.0718 against its US counterpart overnight. With Stocks rebounding and healthy local terms of trade figures being released yesterday, investors snapped up the Aussie Dollar in the local session with upper resistance around 1.06 being tested late in the afternoon.

The foreign exchange market might seem to some people very similar to other financial markets. On the surface, the forex exchange has many similarities to the stock exchange. However, there are a number of differences. Below is a breakdown of some of the major differences that might not be obvious to everyone.

The AUD fell to 1.0444 but has rebounded overnight as equity markets strengthened overnight, thanks in main to some better than expected company earning reports and solid economic data releases offshore. Base metals finished higher with copper up 1.3%, aluminium up 1.5% and zinc 0.1% higher. Gold spot hit an overnight high of US$1,499.32 and gold futures are now above US$1,500 per oz. Oil rose on the back of a weaker USD with WTUI Futures closing at USD108.20.

Yet again the surge in commodity prices to record highs helped drag the AUD off the lows as risk currencies recovered overnight. Traders are however treating this as a rally that is allowing them to get short ahead of the resistance at 1.0580/00 region. Whilst traders are bearish initially they are aware a break through 1.0600 is a significantly bullish signal.

The AUD lost ground in line with most other risk currencies overnight after S&P downgraded the US’s debt outlook. However, the AUD held up as gold and silver surged higher. Technically, we saw the AUD break below the bearish wedge formation and this is negative for the AUD in the near term. A break of 1.0455 could see further selling. Watch for RBA minutes at 11.30am