GBP. The estimated test of key resistance range levels was not confirmed but the preservation of minimal bullish activity priority gives grounds to suppose preservation of trading plans made before almost intact.

 EUR

The pre-planned break-out variant for sales has been implemented with attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties, does not clarify the choice of planning priorities for today.

JPY. Short positions opened and saved before had positive result of overlap of minimal estimated targets. OsMA trend indicator, having marked bearish activity progress gives grounds to support sales planning priority for today.

The following is our monthly correlations update for October.  As we have stated time and again, correlations between different currency pairs will inevitably shift over time.

Technical analysis and fundamental analysis are the two basic areas of strategy in the FOREX market which is the exact same as in the equity markets. However, technical analysis is by far the most common strategy that is used by individual FOREX traders. Here is a brief overview of both forms of analysis and how they directly apply to forex trading:

The Candlesticks charts were used in Japan during the XIX-th century for analysis of the rice prices. They are different form the western style bar charts.

Euro's recovery against the US dollar on yesterday fails to suggest much and a clear breach above 1.4045/50 is required to signal a resume of the uptrend.

In this Forex strategy we are entering the market in the direction of the current trend and we hope that the trend will continue at least until the end of the bar.