EUR/USD at Minimum Since May 2009 on Portuguese Rating Cut

The Forex isn’t reacting on the macroeconomic indicators today as the markets are shaken by the cut of the Portuguese credit rating by Fitch agency. EUR/USD managed to reach it’s minimum level since early May 2009 as the Eurozone’s problems spur investors in moving funds into dollar-backed assets. The currency pair is now trading near 1.3318.

Durable goods orders went up by 0.5% in February, following 3.9% growth a month earlier (revised positively from 3.0%). But that was lower than the expected 0.6% increase.

New home sales decreased to 308k seasonally adjusted annual rate in February — down from 315k reported for January. The traders expected this indicator to come out unchanged today.

Crude oil inventories increased by 7.3 million barrels last week, while the total motor gasoline inventories decreased by 2.7 million barrels, confirming both bullish tendency in oil inventories and a bearish one in gasoline inventories.

Banks In Singapore Island

We review the local banks in Singapore, island in the middle of South East Asia. This review takes the form of a list of banks in Singapore island. Here are the banks in Singapore island, in alphabetical order.

There are many other international banks in Singapore island. Today, this listing only shows the local banks in Singapore island. We shall present another list of Singapore island banks for your information at a later date. For now, we focus on the list of Singapore island banks.

Banks In Singapore Island:

BANK OF SINGAPORE LIMITED

DBS BANK LTD

FAR EASTERN BANK LTD

ISLAMIC BANK OF ASIA LIMITED, THE

OVERSEA-CHINESE BANKING CORPN LTD

SINGAPORE ISLAND BANK LIMITED

UNITED OVERSEAS BANK LTD


source: Monetary Authority of Singapore.

Forex News: DAILY TRADING - THERE IS NO SPOON

Some people are asking me about the secret of daily trading. The answer is there is no secret. It is there for everyone to see but the question is, can you accept what you see.

Trading the daily chart requires patience, lots of it. That is what most of us lack. Patience. If you look at the longer timeframe charts, you will see that price will stop or hover around certain areas. That is your key point. Always start or stop trading around these key point.

The next indicator I use is CCI. CCI alone is a bit of a headache. So I smooth it out with MA. With the MA, I can see the direction of trade clearly. People say MA is a lagging indicator but I dont want to be early going to a party. I like to enter when the party already started.

The last advice is, there is no such thing as holly grail. You just cannot win all the time. The best that we can do is try to win as much as possible and lose a little as possible. In the long run, it would be profitable enough to stay trading. Otherwise you need to find another business to run.