Sunday, December 27, 2009

Facebook and Paypal Share $100 to Their Members

Promotion from facebook dan paypal until 31 December 2009.

Create your Facebook dan Paypal Account if still not available. Then you can get maximum $100USD. No need to pay anything, just create your facebook and paypal account.
For term and regulation, please click and explore link below.

Facebook now is integrating with paypal to encourage people shopping via facebook.
Let try and don't miss.

Paypal account you are created not need to verify with credit or debit card.


Click link below to get your money then create and share to your friend.
http://apps.facebook.com/paypalwishlist/?ppref=100000241424086&ref=mf

Friday, November 27, 2009

Backup Data Using Google Gmail Drive

Losing your important file, software and data is very frusting. Hope this information can assist and prevent from losing your valuable document and data.


1) Download gmail drive at http://filehippo.com/download_gmail_drive/download/42696dadcc6b6d6d088480681c05c5c3/

2) Unzip and install to ur computer windows.

3) Open my computer and u see Gmail drive


4) Click to Gmail drive and login using your google id.


5) Copy your data to gmail drive.


Best regards.

Saturday, October 31, 2009

How to earn money from Google Adsense

Earning Google Adsense money can be a good source of passive income if you are using it with a website that has some good solid content. Google Adsense usually can be added to any website. However, it is important to note that some blogging service providers do not allow Google Ads to be placed on their blogs.

Instructions:
  1. Step 1

    In my opinion the first step to earning a good amount of money through Google Adsense is polishing the content on your website. The better the content on your website, the more followers your website will have and hence more number of visits and Google Ad clicks.

  2. Step 2

    The next step is to open a Google Adsense account. This is a fairly straight forward process. Once you go to the Google Adsense website, then it guides you through a set up. They usually send a follow up mail stating that they will get back to you in around two days time.

  3. Step 3

    Once you get your notification within a week or so, now its time to set up your account. Google Adsense gives you a step by step set-up process and also issues a Publishers ID that can be found on the top right of your screen.

  4. Step 4

    Some of the steps in the setup can impact your earnings to quite an extent. The primary among them is the placement of the ads. Remember that you get paid based on the number of clicks. Hence, its important to place your Google Adsense Ad's in such a position in your website that you believe will prompt more of your viewers to click on them. Also, do change the format and the font to suit that of your website. A good tip to use is to highlight your Ad's. However, do make sure that they do not over-power your website.

  5. Step 5

    Once your Google Adsense account is set up the next step is to insert your Google Adsense code (HTML) into your website's HTML page. A number of websites offer tips on how to insert the code to those who are not familiar with the procedure. Once your code is inserted the Google Adsense should start appearing on your website.

  6. Step 6

    Depending upon the number of clicks and the quality and the content in your website, your Google Adsense should help you generate a good amount of money from your website. You will be able to monitor your earnings and receive them once they reach the threshold limit. Google Adsense will directly send you the payments once you follow all the steps in the Payment Procedure.



Tips & Warnings :
  • Do spend some extra time placing your Ad's
  • You can use the Google Adsense Keyword search to direct more traffic to your site.
  • Be careful not to use Google Adsense with Blogging services that prohibit them. It can be a breach of the terms and conditions.

Friday, September 25, 2009

Forex Currency Strength Trading

If you're a trader, I'm sure you're familiar with fundamental trading, technical trading, trend trading, candlestick trading, swing trading and all the other varieties of trading styles that riddle the markets these days. Each one professes to be "the way," but in reality, none of them really are.

The only constant I've found in trading any of the markets I trade, especially forex, is that strength is the only factor that drives prices especially in the short term. And since I am a short term trader, this is the only time frame I'm interested in. Strength is a direct indicator of supply vs. demand, and is therefore more of a fundamental indicator than a technical indicator.

However, for some bewildering reason, short term traders have chosen technical analysis as their method of choice. You've probably noticed that every charting website or charting software package includes a long list of technical indicators free of charge. I believe that the reason they're free is because you get what you pay for. These indicators are really good for nothing other than predicting the past.

So, what is strength and how do you determine what's strong and what's weak in the forex market at any given time? You may think that the Relative Strength Index (RSI) is a technical indicator that reflects strength. It's really not though.

By definition, the RSI is an indicator that tells us if a currency pair is overbought or oversold. However, just because a currency pair is oversold doesn't mean that the price of that pair is going to move up in the near future. Conversely, just because a currency pair is overbought does not mean its price will move downward in the near future.

The price of the currency pair may behave in this manner, but there is no fundamental reason for this to occur and is therefore not a dependable tool to use in making sound, profitable trading decisions. The reason that the price of a currency pair will move (in every instance) is when there is an imbalance in strength between the 2 individual currencies in the pair.

For instance, if the EUR and the USD are both strong with respect to all the other currencies they trade in pairs with, but there is no imbalance of strength between the EUR and the USD, the price of the EUR/USD pair will not tend to move regardless of the RSI reading at the time, and regardless of how overbought or oversold the pair may be.

So, essentially, the most important piece of information needed to successfully trade a currency pair is how strong each individual currency is compared to the other currencies it trades in pairs with. This information will allow us to match a strong currency with a weak currency, and thus select the best currency pair to trade at the time we are trading. There is no free conventional technical indicator I know of that delivers this information.

There is, however, a very unique tool that does deliver this information clearly, on one screen, and in real time. It's a currency meter that utilizes a real-time data feed to measure the buying and selling activity of each major currency tick-by-tick. A calculation is made using this input and the strength of each currency is displayed graphically on a chart where higher values on the vertical axis indicate strong buying activity for an individual currency, and lower values on the axis indicate strong selling activity.

At one glance, it is easy to match a strong currency with a weak currency using this tool. By looking for a trade in the currency pair identified by this method, you now have an extremely high probability of capturing a near term, predictable price move for a profitable trade. Another benefit of using this tool is that the real-time data feed that it requires is free.

Since I started using this currency meter and making trades based on the imbalance of strength between 2 currencies, both my winning percentage and trading profits have skyrocketed. Trading without this tool is like driving blindfolded and I can no longer trade confidently without it.

If you'd like more information about this unique tool that will enable you to use a unique strength trading approach to trade the forex market, please download and read the free eBook that have written by Chris Scelfo.

The eBook will thoroughly explain the strategy and contains screen shots of the meter in action as well as a profitable trading example made using this method.

Please download and read the free eBook using this link: http://www.forex-trend-trading.com/support-files/forexstrengthtrading.pdf

You'll need the Adobe Acrobat Reader to open the file. You can download the reader for free from the Adobe website.

Thanks and best of luck in your forex trading.

Using unique tools that allow you to "see" the strength of each individual currency with respect to the others in one screen, in real time, you can easily match a strong currency with a weak currency and make repeatable, profitable forex trades.

For Malaysia Trader you can get the tool from the author of Oasis Wealth Builders from their website or forum below. Actually i used oasis tool for my trading strategies and sometimes i used forexgrail or fx4caster tool. This tool must use with Metatrader platform by enabling DDE server in option setting. You also need to show all currency pair in market watch windows to avoid error reading of currency market by DDE server. Happy trading.

http://www.oasiswealthbuilders.com/

http://millionaire.forums-free.com/currency-meter-t44.html




More info for Bahasa explanation please visit this thread
http://www.carigold.com/portal/forums/showthread.php?t=92897

Thursday, August 13, 2009

The Value of Currencies, Base and Counter Currency

The Base Currency

One currency in a currency pair is always dominant, “only in the way it is quoted”. It is called the Base Currency. The base currency is identified as the first currency in a currency pair. It also is the currency that remains constant when determining a currency pair's price.

The Euro is the dominant base currency against all other global currencies. As a result, currency pairs against the EUR will be identified as EUR/USD, EUR/GBP, EUR/CHF, EUR/JPY, EUR/CAD, etc. All have the EUR acronym as the first in the sequence.

The British Pound is next in the hierarchy of currency name domination.
The major currency pairs versus the GBP would, therefore be identified as GBP/USD, GBP/CHF, GBP/JPY, GBP/CAD. Apart from the EUR/GBP, expect to see GBP as the first currency in a currency pair.

The USD is the next dominant base currency. USD/CAD, USD/JPY, USD/CHF would be the normal currency pair convention for the major currencies. Since the EUR and the GBP are more dominant in terms of base currencies, the dollar is quoted as EUR/USD and GBP/USD.

Knowing the base currency is important as it determines the values of currencies “notional or real” exchanged when a foreign exchange deal is transacted.

The Counter Currency

The Counter Currency is the second currency in a Currency Pair notation.
For example, the JPY is the Counter Currency in the USD/JPY pair. The USD becomes the counter currency in the EUR/USD pair.

The Value of Currencies

The base currency is always equal to one of the currency's monetary unit of exchange i.e., 1 Euro, 1 Pound, 1 Dollar etc.
When a trader buys 100,000 EUR/USD, he is said to be buying or receiving the EURO or the Base Currency and selling or paying for the USD or Counter Currency. The amount of the Base Currency he is buying is equal to 100,000 Euros.

Note that this is true no matter the current exchange rate at the time. The base currency amount remains constant.
The Counter Currency equivalent amount that the investor is selling (or paying), on the other hand, will fluctuate with the exchange rate for the Currency Pair.

It is equal to:

(Amount of Base Currency x Market Foreign Exchange Rate)

Since the Counter Currency is the part of the currency pair that fluctuates higher or lower, it indicates the relative strength or weakness of both currencies in a currency pair. As one currency goes up, the other must go down in relation to one another.

Question 1:

Given a Foreign Exchange rate for the EUR/USD Currency Pair of 1.2049, a trader who buys (or receives) 100,000 Euros would be selling (or paying) what equivalent amount of US dollars?

Question 2:

If a trader buys the EUR/USD at 1.2051 because he has identified a trading opportunity, and the value of the EUR/USD Currency Pair goes to 1.2095, did the trader make a profit or loss on the trade?

Question 1 - Answer:

Base Currency Amount = 100,000 Euros Foreign Exchange Rate = 1.2049
100,000 x 1.2049 = $120,490.00
The trader would be buying or receiving, 100,000 Euros and selling or paying, 120,490 US Dollars.

Question 2 - Answer:

The forex trader made a profit.

By buying the EUR/USD at 1.2051, the trader bought or received 100,000 Euros and sold or paid US$120,510. When the exchange rate rose to 1.2095, the trader could now sell the 100,000 Euros for US$120,950.

Since the trader initially paid or sold $120,510 for the Euros, the total profit on the transaction is equal to $120,950 (the amount now received or bought from selling the Euros at 1.2095) minus $120,510 (the price originally paid or sold).

Total Profit = $440

Tuesday, July 28, 2009

Simple Forex Metatrader Template

I've currently got around 21 different forex templates loaded into my charting software but today I thought I would share with you one particular template that I've been working on recently. It uses a combination of moving averages in conjunction with one of my favourite indicators, the Supertrend indicator, and I think it could potentially be extremely profitable.

The components of this particular template are as follows:

- Exponential Moving Average (10) - blue
- Exponential Moving Average (21) - green
- Simple Moving Average (35) - red
- Exponential Moving Average (62) - pink
- Supertrend (1.5, 5)

It should look something like this:

As you can see, not only does the Supertrend indicator (with these shorter settings) track the price extremely closely, but you also get some very nice breakouts shorter after these moving averages converge together.

So if you combine the two you can get some excellent trading opportunities. For instance a good opportunity to open a long position would be when the moving averages are close together and the Supertrend has just turned green (and vice versa for a short position).

To take this one step further you can get real value from a trade when both these conditions are met, but the price then retraces back towards the Supertrend indicator. For example the moving averages are close together, the Supertrend indicator has turned green, the price initially rises and then falls to within 10 points of the Supertrend indicator.

A high probability position would be to go long, place your stop loss where the Supertrend indicator currently is, ie 10 points away in this case, and then close the position either at a pre-set target (much higher than the stop loss) or when the Supertrend subsequently turns red again.

Alternatively you could simply enter a position as soon as the candle closes and the change in Supertrend is confirmed if you want to jump on board early, or you could wait for a suitable fibonacci retracement before entering a position.

As I've already said, I haven't yet fully developed an exact trading system that uses this particular forex template but I definitely think it has a lot of potential and will be testing it out some more in the coming weeks.

In the meantime if you happen to develop your own profitable trading system based on this template, I would love to hear from you.

Supertrend Indicator - MetaTrader4 (MT4) Download

Due to the fact that my main 4 hour trading strategy uses the very effective Supertrend indicator and I mention it regularly in this blog, I'm constantly asked where you can download this indicator for MetaTrader4. So today I thought I'd create a list of every single download link that I have come across so far, so that I can simply refer people to this page.

I should point out that I cannot guarantee that these links actually work because I don't personally use MetaTrader4 myself. I access the Supertrend indicator through ProRealTime and I also have an account with IGIndex who also provide this indicator because they use the same platform.

Okay so here's the links where you should be able to download the Supertrend technical indicator for MT4:


Download Supertrend Indicator and Install in your Meta 4 Platform.

SuperTrend

Tuesday, June 16, 2009

How to use Forex Signal Generator


To calculate Buy area and Sell area, input yesterday's High, Close and Low prices from a Daily chart of the currency pair you are analysing, then press "Calculate!" do not use decimal format, example for 1.9576 you must enter 19576 or this generator will not work properly !!! Use Decimal Round on CLOSE data to get right Pivot and BUY/SELL area. Normally Daily Forex Signal Analysis done after 00.00 until 06.00 GMT. SIGNAL VALID FROM 0.00 GMT - 18.00 GMT.

1) FIND DAILY HIGH LOW CLOSE (OHLC) DATA IN YOUR BROKER PLATFORM.
2) FILL INTO FOREX SIGNAL GENERATOR AS ABOVE TO FIND BUY AND SELL AREA.
3) READ YESTERDAY CLOSE PRICE vs PIVOT AND FOLLOW THE RULES.

a. if CLOSE data between BUY A and BUY B, placed BUY on A

b. if CLOSE data above BUY B placed BUY on B

c.-if CLOSE data between BUY A and SELL A then,
-if price above the PIVOT Placed BUY on A
-if price bellow the PIVOT Placed SELL on A

d. if CLOSE data between SELL A and SELL B, placed SELL on A

e. if CLOSE data bellow SELL B placed SELL on B

4) ENTER THE TRADE AT EACH RESPECTED TRADING TIME.
5)
ALWAYS PLACED SUGGESTED STOPLOSS, YOU MUST PROTECT YOUR CAPITAL.
6) ONCE ORDER PLACED JUST FORGET IT AND LET IT RUN TO TP/SL.
7) TRY ON DEMO ACCOUNT OR PRACTICE FIRST BEFORE GOING LIVE TRADING.

Thursday, May 28, 2009

Learn CCI indicator

Indicator CCI, which will be referred to, quite popular among traders. It includes all programs of technical analysis and is mentioned in almost all benefits of open trade. But the capacity of CCI in the design of trading systems and combinations with other indicators still have not yet been fully explored

General Characteristics
Any trader knows that the acronym means CCI Commodity Channel Index, that translated into Russian language sounds like a commercial channel index (other names - the index of trade channel, channel index points). This indicator is a normalized oscillator moment, built according to the formula:

where T (Typical) = (High + Low + Close) / 3,
MA (T) - n-periodnaya moving average of T,
D = 1 / n * SUM i = 1 ... nl Ti-MA (T) l - the average deviation from the average price.

Sami indicator developers and most authors of textbooks are regarded as signals CCI crossing lines 100 and -100. In this case, the signal for the opening of the long position is the intersection of the indicator marks -100 from the bottom up, as a signal for the opening short position, the intersection of the indicator mark 100 from top to bottom, as shown in Figure 1. That is, we trade on the classical oscillator.

There are "alternative" interpretation of the indicator. According to this interpretation, the position can be viewed not from the lines 100 and -100, and from the zero line. Consequently, the crossing point 0 from the bottom up is a signal to buy, top-down - a signal to sell. Practice has shown that such a trading system makes sense for the market trend, where the oscillators are not appropriate.

Simple
To get started, build a very simple trading system based on the CCI indicator crossing zero. The position will be opened after crossing the line indicator of the zero line: a long - at the intersection up short - at the intersection down accordingly. The closure will be on lines 100 and -100: long positions are closed at the intersection of CCI through 100 top-down, short - when crossing the line -100 upwards. In fact, it is a full trading system, set up only one indicator. The only drawback is its lack of foot, but to this subject we will return.

Conclusion
We should not harbor illusions that by applying all of these systems in real time can be guaranteed to earn the specified number of points, not less. CCI - the indicator is quite cranky. If the test had to deal with retrospective market, in other words, its a static image, in real time before you have been locked at a value of, the curve is an indicator can often describe the steep turns.

CCI can react to the slightest changes in the market and give false signals. The program of technical analysis will fix them dispassionately. If, for example, after crossing the line Stochastics reverse process is unlikely to happen, then the curve is the channel index commodity may fluctuate around the critical point for the whole day. In order to verify that the signal was not false, it is necessary that the graph has passed 2 more candles or bars.

CCI: Rules for Traders
1. Open a long position when the CCI exceeds +100%. Close when the index falls below 100%.
2. Open a short position when the CCI falls below -100%. Close when the index rises above -100%.

Rule of zero (Zero CCI) for traders of risk
1. Buy at the intersection of top-level index of zero CCI.
2. Sell down while crossing the zero level. From V. Meladze
"The course is technical analysis"

Download Indicator below for Meta 4 Platform. Set 3 level ie 0, 100 and -100.
CCI

For Marketiva Platform Indicator already built-in a platform.

Happy Trading.

Wednesday, April 8, 2009

Simple Forex System

Indicator Setting :
ADX : 14 for Marketiva/ 28 for Meta4 (DI+ blue, DI- red)
MACD : 12, 26, 9 (MACD blue, Signal red)
Parabolic Sar
Time Frame : 15M

Take Profit : 50 pips / 60 pips
Stop Loss : 30 pips / 40 pips

Pair Recomended : GBP/USD, USD/CHF, GBP/JPY

Strategy to Buy (Buy Signal) :
D+ cross up D- (D+ above D-), Parabolic Sar bar below candlestick and MACD Bar above 0.
Optional MACD line cross up MACD signal line.




















Strategy to Buy (Sell Signal) :
D+ cross down D- (D+ below D- ), Parabolic Sar bar above candlestick and MACD Bar below 0.
Optional MACD line cross down MACD signal line.

















Happy trading, Are you love green pips. Daaag

Friday, March 27, 2009

Top 3 Free Forex Technical Analysis

There are many free forex technical analysis distributed over the internet. Be it in a one-man’s blog, corporate’s website, forex forum, mailing-lists or even in your trading platform. I had observed many of those technical analysis and found out that most of them are actually worthless. Some of them are even written to cheat readers.
IMHO, worth-reading technical analysis shall be:

  1. Presented in simple way with less words. It’s better if there is a chart (captured-image) come along with it.
  2. Giving a trading idea as it’s conclusion. Trading idea; entry and exit suggestion. Isn’t that what a technical analysis is for ? Producing a trading idea.

Below are my best pick of free forex technical analysis resources. I read them regularly and have found them quite helpful especially for my gbp/usd and eur/usd trading.

1. Mizuho Bank’s Technical AnalysisThe technical analysis are made and written by Nicole Elliot from the London Branch of Mizuho Bank . As I know it solely based on Ichimoku analysis. It is updated daily at around 07.00-08.00 GMT, the analysis is presented in (.pdf) document. The presentation includes a chart, chart commentary and intraday trading suggestion. It also includes support and resistance level data and trend analysis (trade direction).

You can get the analysis from this link. Though almost all currency pairs are listed there, only GBP/USD and Eur/USD are updated regularly and continuously. You can directly reach the daily technical analysis for GBP/USD here and for EUR/USD here.

2. Danske Bank’s Technical AnalysisThis is daily technical analysis for almost all currency pairs provided by Danske Bank’s team. It is updated at around 08.00 GMT and published daily on FXstreet. Unfortunately sometime FXStreet late making the publishing.
The technical analysis is presented in tabular data. Support-resistance and entry/exit recommendation are clearly written. You can get it from
this link.

3. INO Marketclub’s Trend analysisThis is free trend analysis provided by Ino Marketclub. The trend analysis is made using Ino Trade Triangle system and is delivered to you by email on daily basis. I have found them quite helpful in determining prior day’s trend.
You can get it by
subscribing here. Fill the “Symbol” form with approriate currency-pair symbol without trailling slash (GBPUSD or EURUSD or GBPJPY etc).

Tuesday, February 10, 2009

Gomez Peers Paid You




Gomez Peers (formerly Porivo) launched in early 2001. They are a peer computing network which measures the performance of customer websites. They pay members of their network (that's you if you join) to be online while running the Peer software. During idle time the software uses your internet connection to test websites (yes, this means you can get paid while you sleep). Members are paid $.05/day plus $.03/hour for each hour of processing time. Members are only paid for days that they run the software for 2 hours or more. This should be easy to do considering that you can run the software at night. Payments are made monthly to all members with a $5 minimum via PayPal, Alipay and Moneybooker. Gomez peer is very reliable and all personal data is completely private. Recommended to join, click here.

Referral Program: $1 for each active referral to the program.
Important : Gomez gives members active status based on demographics and usage. Do not lie about your connection type, you will not get approved if you do this. They review all member accounts within 10 days of signing up so, in order to increase your chances of being selected, you'll want to download and run the software as much as possible during your first 10 days. Members who are not initially picked as active can become active by continuing to run the software. They are looking for both dial up and high speed connection users.

Payment Proof and History:
I got eighteenth paid ($5.46) from Gomez Peer on 9 Feb 2009 into my Paypal.
Click here for payment proof.
Payment History click here.
Payment email notice click here.
To join gomez click here.

Sunday, February 8, 2009

Dollar Steady after NFP

Dollar remains rather steady in early US session after another poor employment report from US. Non-Farm Payroll report showed -598k contraction in Jan, largest monthly decline since 1974 and much worse than expectation of -525K. Unemployment rate climbed to 16 year high of 7.6% in Jan, above expectation of 7.5%. Jan's figure also marketed the first time since records began in 1939 that job cuts exceeded half a million in three consecutive months. Unemployment rate in Canada rose much more than expected to 7.2% in Jan, highest level since 1003 and much worse than expectation of 6.8%. The job market contracted for the third consecutive months by -129k, exceeding any monthly drop on recrod and much worse than consensus of -40k. The Canadiand dollar is sold off immediately following the release and is also pressured with crude oil back below 40 level.
In the UK, industrial production plunged -1.7% mom in December following a revised -2.5% in the previous month. On yearly basis, the -9.4% plunge, worse than both consensus of -7.9% and -7.8% in December, was the biggest decline since 1981, Manufacturing output contracted -2.2% mom, after a fall of -3% in November. The -10.2% slump on annual basis was also the weakest figure since 1981. In November, the reading was revised lower to -8.3% from -7.4%. The data showed that the UK's recession deepened and BOE may need to further reduce its policy rate as well as adopt other quantitative easing measures. PPI data surprisingly rose more than anticipated in January with the core index, excluding food, beverages, tobacco, and petroleum products, rose 0.4% mom (consensus: 0.1%, December: 0.2%). On yearly basis, core PPI eased to 4.1% from 5% a month ago. Input PPI gained 1.5% mom in January following a revised 2.4% drop in December while output PPI rose for the first time in 6 months by 0.1% from a fall of 0.1% in December. On yearly basis, input and output PPI moderated by 1.5% and 3.5% from 3.5% and 4.6%, respectively.
Switzerland's unemployment rate rose more-than-expected by 3.3% in January from 3% in December. Germany industrial production also dropped more than expected by -4.6% mom, -12.0% yoy in Dec.
RBA released its quarterly Monetary Policy Report overnight with downward revisions on GDP and CPI forecasts in the 12 months through June. The committee anticipated GDP will rise 0.25%, lower than the 1.5% projected in November. GDP will growth 0.5% and 2.5% in fiscal years 2009 and 2010 respectively. CPI is expected to gain 1.75% in the 12 months through June, also lower than 3.25% forecast in November. Despite the reductions, the RBA Governor Glenn Stevens stated there's upside risk to the growth forecasts and 'when demand returns, production will pick up more quickly than in past cycles'. In Japan, December's leading indicator is anticipated to have dropped to 79 from 81.3 in the previous month.

Thursday, January 29, 2009

Dollar Mildly Lower Ahead of FOMC

Dollar is mildly lower again in Asian session as stocks are lifted by rumors of so called "bad bank" initiative from Obama administration. Under the initiative, US will create an institution, run by FDCI chief Bair, to remove toxic assets from bank's balance sheets. Yen is also mildly lower as Asian stocks climb modestly on the news. Though, the currency markets are generally bounded in tight range as focus is turning to FOMC rate decision in the US session.
Fed is no doubt expected to hold rates unchanged at the target range of 0-0.25% today. Though there are still a few areas that markets will focus on. Firstly, the Fed may discuss inflation targeting and even though FOMC might not adopt a target, the statement would probably emphasis Fed's strong intention to avoid deflation. Secondly, the committee's focus will probably further turn to quantitative easing. Thirdly, the statement will probably discuss further plans from Fed to purchase treasuries to boost lending. After all, FOMC might come as a non-event today and markets could stay directionless until Friday's Q4 GDP release.
Another focus today will be Germany CPI, which is expected to drop -0.3% mom in January following an increase of 0.3% in December, while HICP is anticipated to have contracted -0.4% mom in January after gaining 0.4% a month ago. Ease in inflationary pressure was driven by lower energy prices and further moderation in cost of food. Gfk consumer sentiments was unchanged at 2.2 in Feb.
Australian CPI dropped -0.3% in 4Q08, the biggest decline in 11 years, but less than expectation of - 0.4% decline. On yearly basis, CPI slowed from 5% to 3.7%. Westpac released a report showing leading economic index plunged -1% in November. These data evidenced Australian economy is heading for the first recession since 1991 and RBA will very likely cut interest rate in the meet next week.
Technically, Dollar index is still trading with a soft tone today and intraday bias remains on the downside. Sustained trading below the channel support will argue that whole rise from 77.69 has completed. More importantly this will leave such rise in corrective structure (at least not clearly impulsive). In other words, it will imply that such rise from 77.69 is merely a leg in the consolidation that started at 88.46, which is still in progress. That is, in such case, another test of 77.69 could at least be seen before resuming the medium term rally. Break of 81.19 cluster support (61.8% retracement of 77.69 to 86.81 at 81.17) will confirm this case. Though support from the current level and break of 84.59 minor resistance will indicate that rise from 77.69 is still in progress for retesting 88.46 high.