New forex trading platform launched

MUSCAT -- With an average volume that ranges between $800 billion to $1.5 trillion per day, the forex market holds as much potential for large scale traders such as central banks and commercial companies as as it does for individual investors, an industry expert said.

"Our goal is to give investors in the region a convenient way by which they can engage in forex trade and benefit from the wide gamut of advantages and opportunities the market offers, especially during this financial downturn," Amani Choudhry, CEO, Mayfair Wealth Management, said in a statement.

Mayfair Wealth Management (MWM), one of the leading financial and investment advisory services providers based in the Cayman Islands, has launched its foreign exchange (Forex) trading platform. For a minimum investment of $25,000 an individual can invest in the largest and most liquid financial markets in the world, which has not been affected by the ongoing crisis.

"The global economic slowdown has significantly affected global investments, with a majority of individuals and corporations putting their investment plans on hold. While investments in other financial markets are witnessing a steady decline, we are advising investors to place stake in Forex due to high liquidity and trading volume, in addition to price volatility in this market," Choudhry said.

In addition, the company is also set to conduct free training sessions on the alternative investment avenue to educate traders on how to open a real live account as well as buy and sell on 'Forex' professionally and confidently.

"By using our newly-launched Forex trading platform and availing of our free training sessions, investors can get a better understanding of the forex world, what their trader is doing on a day to day basis with their money or learn to trade themselves," she added.

The unveiling of the new financial trading platform, which will also be offered via 'Ameerah', the first truly bespoke wealth management service targeting female investors in the Middle East, is in line with the company's aims to provide an asset class that will allow investors to stop trading and 'cash in' at any given time.

The training will include lectures on the origins and evolution of 'Forex', where and how brokers execute orders for clients, how to use the platform and start trading, and the advantages of 'Forex' over other investment instruments.

Classes on the currencies quotation system, trading margins, main currency markets, and trading strategies will be provided as well.

Furthermore, classes for lady investors will also be made available through Ameerah.

Offering online currency trading and phone dealing from Sunday to Friday using a proprietary trading software that guarantees competitive pricing and execution, MWM's 'Forex' trading platform offers low spreads interest point. The software offers four online trading platforms for maximum flexibility, and allows instant access from the investor's home, office or anywhere with an Internet connection.

Company officials also revealed their optimism that the seminars which are set to take place in Dubai, Abu Dhabi, Sharjah and Bahrain will generate good response from investors, and that they are open to offering training to other markets as the demand arises.

MWM was created to meet the investment needs of high net worth individuals around the world and provides investment advice on products, appropriate investment vehicles and investment strategies.

Forex marketing has a strategy that many traders overlook.

Forex marketing has a strategy that many traders overlook. The prime strategy, which many forex traders believe is the key to profiting in the forex industry is the buying low and selling high strategy. Unfortunately, these traders are wrong, since it is a key to loosing instead.

Support in forex industry is when chronological value or pricing comes in from traders who “Buy.”

The mission behind buying is to provide support for the forex market exchange, as well as to analyze, examine, experiment, investigate, etc, the markets in forex currencies and exchange. Each time the traders test forex, it authenticates support.

Resistance becomes sizeable in the forex industry only when the levels of “resistance” is charted, i.e. at what time the levels of forex value, or pricing refuses to give in to jumping to a higher listing.

For this reason, at what time forex traders venture on buying low and selling high, they are making a big mistake. Traders who delay in forex trading markets will often recoil, or retract at the time some of the biggest deals transpire in the forex industry.

In short, the trends are what traders want to stay aware to, yet most traders will resist. Why, because the traders often feel uneasy at the times when other traders resisting buying and selling in forex.

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USD/JPY Daily Commentary for 5.4.09

The USD/JPY is trying to build on Friday’s bounce, flirting with the idea of retesting 100 while the S&P futures battle their own demons at 900. Unfortunately, yesterday’s run was backed by light volume, meaning the currency pair’s current upswing could be short-lived. The USD/JPY encounters its first test in our 3rd tier downtrend line, followed by March highs. We notice a head and shoulders formation with the USD/JPY on its right shoulder as we type. Therefore, bulls will be looking for any near-term upward movement to be supported by heavy volume if the currency pair is ready to surpass 100 and April highs.
While the upside has its apparent hurdles, the downside is backed by our 2nd tier uptrend line and the resilience the uptrend has shown thus far in 2009. The USD/JPY’s re-approach of 100 comes with the S&P futures attempting to climb above their critical 900 level. Therefore, the significance of the moment is relayed by each as investors await Thursday’s ECB meeting and the release of America’s stress test results.
Fundamentally, we find resistances of 99.79, 100.56, 101.43, 102.14, and 103.15. To the downside, we see supports of 99.20, 98.56, 97.98, 97.11, and 96.33. The 100 level serves as a key psychological barrier with 95 acting as a psychological cushion. The USD/JPY is currently exchanging at 99.42.

Trade Idea: USD/JPY - Sell At 95.50

Despite rising to 95.90 last week, the subsequent sharp retreat from there on Friday suggests a top has been formed there and correction to 94.01 support is likely, however, the greenback should find renewed buying interest above 93.81 (50% Fibonacci retracement of 91.73 to 95.89) and bring a rebound later but said resistance should continue to hold and bring another decline.

In view of this, we are still trading both sides of the market, buy on further fall towards 94.01 or sell on recovery to 95.40. Only a clear break of 96.15/20 (the confluence of 100% projection of 91.73 to 94.80 measuring from 93.09 and 61.8% Fibonacci retracement of 101.45 to 91.73 at 96.16) would extend recent upmove to 96.60/70. Below 93.81 would indicate the rise from 91.73 is over, then decline towards 93.09 support would follow.

Trade Idea: GBP/USD - Buy At 1.6665

Recent upmove gathered momentum after breaking 1.6587 resistance last Friday and the British pound rose to as high as 1.6780 this morning before easing. Friday’s rally caused the Tenkan-Sen to cross above the Kijun-Sen, providing a buy signal and although pullback to 1.6665/70 cannot be ruled out, the Tenkan-Sen (now at 1.6626) should hold and bring another upmove later towards 1.6830/40 but price should falter well below 1.6915 (100% projection of 1.5983-1.6587 measuring from 1.6338)

In view of this, we are still looking to buy cable on pullback and only a clear break below 1.6627 (50% Fibonacci retracement of 1.6474 to 1.6780) would defer this bullishness and risk correction towards the Kijun-Sen (now at 1.6559) which is likely to hold from here.