Sergey Golubev / Perfil

USDJPY Tachnical Analysis

Bigger than Libor? Forex probe hangs over banks

A global investigation into forex trading abuses is the latest legal headache for the banking industry.
The [forex and Libor] benchmarks have a knock-on effect to all of these other markets," Kovel said. Assistant professor of law at Wake Forest University Andrew Verstein agrees.

Gold is NOW at our price level (based on forexminute.com article)

We argue for you to consider buying a small position in Gold at this panic low.
If you don’t know by now, panic lows in Gold do not last long.

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Good morning

The European Central Bank is considering a smaller-than-normal cut in the deposit rate if officials decide to take it negative for the first time, according to two people with knowledge of the debate.
read more here http://www.bloomberg.com/news/2013-11-20/ecb-said-to-consider-mini-deposit-rate-cut-if-more-easing-needed.html

Forex Brokers (adapted from "Is Switching Brokers Ever a Good Idea?" article by dailyforex.com)

1. Most Forex brokers are not actually exchanging any currency on the market. They are simply providing a price feed, the movements of which their clients are allowed to bet on in exchange for two effective fees: the spread or commission, and a small overnight charge that is incurred every night any position is left open. These brokers are in adversarial relationships with their clients: they make money when their clients lose, and lose money when their clients win.

2. The remaining Forex brokers tend to monitor the trades of their clients that have records of trading profitably, and cover the aggregate positions of these traders with a bank. These brokers have a less adversarial relationship with their clients, but still can face problems in adequately covering themselves in fast-moving markets.

3. The real Forex market is dominated by four large banks that together make up about 85% of the market’s volume.

4. Much of the Forex industry has a bad reputation and is poorly regulated.

上证指数周三收盘上涨0.62%，深成指数上涨0.58%

33 pips price movement by RBA Meeting Minutes