07 March 09:43 AM
Forex news, dollar rate. Strengthening of dollar that has lasted for five days signals about fundamental problems awaiting for global economy. US stock market keeps declining for three day in a row.
At the beginning of the week China lowered its prediction of this year’s GDP growth to 7.5%, and on March 06 Reserve Bank of Australia (RBA) worsened its predictions about the development of global economy. Today it was also reported that European loss from Greek default will amount to 1 trn. euro. As a result, investors doubted about the perspectives of global economy, and demand for dollar has risen.
Let us remind that at the end of last week Ben Bernanke, the head of US FRS, expressed an idea that there is no urgent need to start the quantitative easing program Q3 in the nearest future.
According to the experts of Мasterforex-V Trading System, dollar rate is within impulse wave "a(С)/C" of H4 level. Resistance is provided by target points 80.00 and 80.23. In order to change bullish trend sloping channel MF and bearish pivot MF 79.35 are to be passed, and FZR formed.
You are free to discuss this article here: forum for traders and investors
How many traders make profit at Forex market, and how many lose their deposits? What is the average “lifespan” of deposits, belonging to Forex traders? These and other questions make up Terra Incognita and closed “private information” of brokers for millions of traders worldwide. Fragmentary data, which enters media, social networks, and Forex forums is very different.
Wealthy is not the one who earns much, but who spends little. This true is well known by traders, working at Forex market. Therefore, among numerous suggestions, promoted by native brokers, high demand falls on those that suggest low spreads and commission fees. These, similarly minor, expenses on making deals actually “eat” a lion’s share of your earning. Particularly, if your strategy is based on the principles of intraday trade, which presupposes effecting a big number of transactions and getting small profit from each of them.