Lawrence Villamar

When you first trade in forex, you might feel that currency trading is a little overwhelming. So for those who are in the process of immersing themselves in forex trading, below is an enumeration of practical forex tips to keep in mind as you trade currency.

The only thing helping keep the AUD/USD supported is the fact that Gold and other commodities are approaching record highs. This however is being offset by the fact that the risk currencies (EUR in particular) are beginning to struggle. On the open it has been sellers galore and if support at 1.0520 breaks it could be a quite bearish signal targeting 1.0400 initially

Following a very flat opening yesterday the Australian dollar came to life in the afternoon as there was a renewed appetite for currencies deemed riskier.

AUD traded the upward trend channel quite well over the past couple of days and continued to last night. We are however approaching not only the top of the channel, but also the previous post-float highs of 1.0580/90 where the sellers emerged last time. Traders are content to be short here but leaving a tight stop loss with everyone else above 1.0600/10

AUD found support on the lows yesterday as support was provided by a resurgence in commodity prices after negative sessions. Traders aren’t convinced however that the selling pressure is over and we seem to be consolidating now in a wide range waiting for the breakout to give the signal of the next direction.

The AUD traded in a pretty quiet fashion around the USD 1.0500 level during the offshore session. Reserve Bank of Australia Governor Glenn Stevens delivered a considered speech in New York overnight, and somewhat predictably didn’t provide any real insights that could be construed as relevant, to short to medium term monetary policy in Australia.

After the Australian dollar opened at a rate of 1.0492 against the Greenback yesterday the A$ dollar was sold early as it received mixed leads from the Asian session. With news of further earthquakes' in Japan and softer commodity prices, investors sought relieve in the safe-haven US based currency. As the sell off continued the Japanese government upgraded the severity level of the nuclear crisis to its highest level.

As mentioned in yesterday’s report there was concern of a breakdown in the AUD and it eventuated in the most aggressive way possible as AUD/JPY also broke down. The important thing to note is the re-test of the 1.0500 breakout where it rejected and has now kept traders content to be short or sell rallies unless we break back up through the

The Australian Dollar experienced somewhat rare selling pressure yesterday following ongoing concerns of the Japanese nuclear crisis and European sovereign debt.

AUD took a breather as it came under increasing selling pressure on the back of commodity prices being aggressively sold. We open the Asian session right on the support level of 1.0470/80 and traders are watching keenly as a break of here could be an extremely bearish signal however traders are trusting support initially, not pre-empting the break.

After a very strong run in recent weeks, the AUD has taken a breather overnight,with a drop in commodity prices and a stronger USD pulling the AUD back belowthe USD1.0500 level.

With little in terms of significant local events yesterday the Australian dollar drifted slightly lower overnight to open this morning at a rate of 1.0497. As global equities softened, gold, silver and crude oil also pulled back some of their recent gains.

The AUD continues it’s upward march towards 1.1000 and with such a strong close towards the highs of the week it gives a bullish signal to the start of the trading week. However, many traders are starting to be a little concerned that we haven’t had a pullback and that it may drift back towards 1.0400 where support lies before heading higher again.

The Australian Dollar has pushed higher overnight, continuing its positive momentum from yesterday before a bit of consolidation occurred late in the session.

The Australian economy yet again continues to shine with great jobs numbers released yesterday supporting the AUD during the Asian session. It drifted lower as EUR failed to excite, but with the support confirmed at 1.0400/10 traders are still happy playing the buy the dip game and looking for new highs into next week.

The Australian unemployment rate surprised investors yesterday improving to an annualized figure of 4.9% against an expected 5% result.

After an initial breather it was AUD/JPY breaking through yearly highs and surging higher that saw AUD/USD off the lows. It was one way since then and we easily broke through the previous high of 1.0400, which now forms the base for which traders feel higher is the play. Watch the ECB decision, if there is no rate rise and EUR gets sold, AUD may also reverse.

The Australian Dollar has pushed to another post-float high above 1.0400 with the US Dollar sold right across the board and commodity prices surging.

What's moving the currency market? Here's the top headline from ForexCT's Market Insight Report 06/04/2011 delivered to you by the International Business Times AU.

What's moving the currency market? Here's the top headline from ForexCT's Market Insight Report 05/04/2011 delivered to you by the International Business Times AU

What's moving the currency market? Here's the top headline from ForexCT's Market Insight Report 04/04/2011 delivered to you by the International Business Times AU.

What's moving the currency market? Here's the top headline from ForexCT's Market Insight Report 01/04/2011 delivered to you by the International Business Times AU.

The Australian dollar has continued to surge overnight, buoyed by investor’s appetite for risk. The AUD touched a record high USD1.0374, after getting as high as USD1.0347 during our local trading session.

US consumer confidence fell from an upwardly revised 72.0 to 63.4 in March. Rising gasoline prices and the Japanese nuclear crisis would have taken a toll on the latest reading. US S&P/Case-Shiller home price index of 20 metropolitan areas fell by 0.2pct in January - marking the eight straight month of falls. Prices were down 3.1pct on a year ago. US ICSC chain store sales rose by 0.2pct in the past week compared with the prior week. Sales were up 2.6pct on the same period a year ago.

What's moving the currency market? Here's the top headline from ForexCT's Market Insight Report delivered to you by the International Business Times AU.

The Australian Dollar has opened firmer this morning and is trading just south of USD 1.0300, having found continued support from solid equity markets and a healthy risk appetite in the financial markets. Speculation of M&A activity in Australia and solid demand out of China for the currency continue.

The Australian dollar appears well and truly consolidated above 1.0200 for the time being as support held strong overnight. A subdued Asian session saw little response as New Home Sales growth slowed to 0.6% in Feb with the dollar remaining above 1.0230 for the most part.

Energy and telecommunications companies led gains for U.S. stocks as investors looked to push the market higher for the seventh session in nine, ahead of critical data later this week on unemployment and manufacturing. The Dow Jones Industrial Average gained 84 points, or 0.7%, to 12281 in late trading, while the Standard & Poor's 500-stock index gained eight points to 1319.

U.S. stocks gave up modest gains to turn lower in the final minutes of Monday's trading session, as financials and materials sectors joined consumer and tech stocks in the red. The Dow Jones Industrial Average was off 5.6 points, or 0.1%, at 12,214. The S&P 500 was down 2 points at 1,312.