March 27, 2011

Forex and the banking industry

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 Hello Everyone,

As a forex trader I give little thought to the underlying mechanisms.  All I know is that when I want to buy a curency I hit a button on my trading platform which is instantly sent to my broker which in turn seemlessly gets me into the market.

But when you dig deeper the uderlying foundation of the currency markets are the major banks.  As a day trader it doesn't really  matter what goes on behind the scenes but   I know a lot of you are really curious about the "big picture" and how things work.   With that in mind I want to share  a link to a great article that talks about the history of banking.  A blog member named Scott was kind enough to turn me onto this.

http://checkingaccount.org/the-history-of-banking-throughout-the-ages/

Like I said it won't really have any effect on your trading but it is interesting for you history buffs and…  It might just come in handy if you end up a TV game show!  :-)

 100_12002

Until next week, peace and prosperity,

Jeff Wilde

 


The Black Dog System will help put the odds in your favor. It has generated 72% winners over the past 2 1/2 years. To read more click here…

 

 


 

Key Market
Reversal Levels for Mar 28 - April 1

 

GBP/USD

EUR/USD

USD/JPY

GBP/JPY

EUR/JPY

Turning Point Down #3 1.6750 1.4740 84.61 137.50 120.00
Turning Point Down #2 1.6500 1..4500 83.37 135.00 117.50
Turning Point Down #1 1.6250 1.4250 82.00 133.00 115.91
 
Turning Point Up #1 1.5900 1.4000 80.00 127.72 112.50
Turning Point Up #2 1.5736 1.3750 78.50 125.00 110.00
Turning Point Up #3 1.5500 1.3500 76.37 122.33 106.43
           
Intermediate Trend
Direction
Up Up Down Down Up
Major Trend Direction Up Up Down Down Up
 

***VERY IMPORTANT:  If you are new to our forex market forecast service I urge you to get up to speed on how to get the most out of it.      This will also explain what the abbreviations I use mean. To get all the details click this link:

Here is a video that will teach you how to get the most out of this newsletter. TO VIEW CLICK HERE:

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