Trading in India

Glad to know that this thread is getting popularity day by day!

Seems like we can post our analysis here for fellow indian traders..

Any trader from Mumbai ?

ya but currently I am not in Mumbai might be there in a few months

http://www.lolpal.com/files/mbvtvhea...7r62_thumb.gif (http://www.lolpal.com/viewer.php?file=mbvtvheaxieazgxu7r62.gif)

are most traders here daily and weekly time frames one I mean swing traders?

Hi fellow Indians, great to see this thread has started gaining momentum... good work forexlion

I am a EU scalper & work on 5 sec / 1 min TFs....Marketive is good but their spread for EU is 2 minimum so its a problem for me....currently I am testing my strategies on Oanda platform because of their tight spreads and one click trade execution facility.

If any one is using Oanda as their real time broker in India please reply.

myself i trade using daily/wk chart in one account and 1m/5m/30m in scalping account

For the next 4 hours EU is trapped between 1.4600 and 1.4700 ..It all depends upon German ZEW sentiment!

http://www.lolpal.com/files/wl8tu15p...fc8r_thumb.gif (http://www.lolpal.com/viewer.php?file=wl8tu15pu6cm1s67fc8r.gif)

14:30 EUR http://www.forexfactory.com/images/m...mpact_high.gif German Economic Sentiment http://www.forexfactory.com/images/m...ol_refresh.gif (http://www.forexfactory.com/ajax_actual.php?eventid=10134) -62.0 -63.9

14:30 EUR http://www.forexfactory.com/images/m...act_medium.gif ZEW Economic Sentiment http://www.forexfactory.com/images/m...ol_refresh.gif (http://www.forexfactory.com/ajax_actual.php?eventid=10135) -65.0 -63.7

More bad news for EURO......German PPI up 2% from June.....

Concerns over inflation and deteriorating economic conditions in the biggest economy of Europe may bog down EU further downwards....

hey guys eu will head to 1.45 by this week?

Hi forexlion,

pls can you tell what's wrong here?
I've loaded up the indicator & tried it on EUR/USD but the resistance values dont look right.

regrads,
Pret

Alright folks, here is a task and a challenge to fellow Indians on who gets the correct answer first.

I will add my comments last.

Question: Why did USD get so strong across the board, what events led to this strength?

I need the exact economic factor, as a hint you can start by analyzing the economic news in the week when the fall started and the weeks preceding the fall in both eurusd and gbpusd.

Hint: it is not oil and certainly it is not gold, nothing to do with commodities. And it is this factor which will contribute 100% for any dollar weakness in future.


Kaun Banega Economistpati ?


The reason for asking this question is that, this is the basic factor which contributes to all movements in currency markets, and this factor also helps in forecasting what is to be expected next.

Nothing to do with technical charting, just pure economics.

Hi,

To me its fundamental but also technical.
There had been a lot of bad news for USD from past one year. On account of deficits of US government and Sub-prime mortgages, the US economy has weakened a lot.
Every currency rose against the mighty USD from their bases. Everyone sold it and bought other currencies. The fall of USD last year to new lows made way to a higher crude prices as oil is traded in USD. So everyone having other currency can now buy more crude hence demand is increased but supply didn't increase in the similar proportion.

To stabilise the worsening economic conditions FED reduced lending rates to banks and increased liquidity in market to ease off the credit crunch situation. Technically there is bottom for every thing. USD has hit its bottom and every not-bad news is cheered in the Dow and S&P500.

Throughout last year every country other than US was enjoying a period of high growth. Economic reforms in Europe and Asia were in full speed. As a result their currencies increased in value opposed to USD. But now as fear of inflation and bad loan has hit Europe and Asia they are retreating from their highes.

Though the condition in US is still very bad but it is not much worse than a couple of months ago. So they think they are stabilizing .
The market is seeking a balance between the two deteriorating economies and movement of EU is a live example.

Its some thing I had been reading about a lot lately and my opinion is largely influenced by Bloomberg and discussions in FF itself. Please carry on this discussion, its a period of time which will teach us many lessons for our future lives.

Abhishek.

you r right on track abhishek

To me the reason might be global markets not happy the way dollar fell down.. something lacking their i.e, risk in markets

thus they are taking it opposite way for now and try their task later....

hey guys offtopic question. Where do you think could the sensex go?

Hi fellow indians, any ideas why there is a mis-match with the pivot/r/s levels?

Still the same even today.

8000-9000