Forex Bot Ripoffs

Market Commentary The US Dollar traded mixed wherein mild correction was seen in the Euro and the Cable; where as the Aussie Dollar posted mild gains and the Swiss Franc traded flat. Key equity index, Dow Jones Industrials (DJIA) finds support again in the ranges of 11900 to gain smartly beyond 12200 to currently trade at 12665. Immediate resistance is seen in the zone of 12700-12800 which is historical congestion zone; consistently trading above 12450 reinitiate long-term rally in DJIA.

http://www.fxstreet.com/technical/forex-strategy/forex-commentary-and-strategy-report/2011-07-07.html

Moody’s became the first ratings agency to cut Portugal’s credit standing to junk, warning the country may need a second round of rescue funds before it can return to capital markets. Moody’s said its decision was based on three reasons, specifically that there was a growing concern that Portugal would need a second bailout package, that the country would not be able to meet its target of reducing its deficit and that the Portuguese state would not be able to finance itself on the market at

http://www.fxstreet.com/technical/forex-strategy/forex-technical-comments/2011-07-07.html

Trading Setups / Chart in Focus: NZDUSD The NZDUSD consolidated today forming an inside bar in the process. The mother bar high of this inside bar setup is also the all-time high in the NZDUSD, so a break of this high would be significant. Also, given that we are at this significant resistance level, we could also see price break lower from this inside bar, and so we will keep a close eye on this inside bar setup for the near-term. AUDUSD The AUDUSD moved lower early in today’s session but the

http://www.fxstreet.com/technical/forex-strategy/forex-trade-setups-commentary/2011-07-06.html

AUD/USD – The AUD/USD is attempting a correction in the short-term. So far this has taken shape of a head and shoulder with a declining neckline, so it will be hard to determine a breakout below the pattern. – Often head and shoulder patterns fail to provide topping except for the very short-term, in which the pattern develops and gives only an initial breakout swing. – Observing the AUD/USD in the 4H chart, we see that the bearish scenario should be limited after such a bullish setup. The RSI

http://www.fxstreet.com/technical/forex-strategy/daily-technical-update/2011-07-06.v05.html

GBP/USD – The rising wedge had a wave (e) failure before falling below the wedge support. – Price action attempted cleared out the 1.61 resistance before the market rejected the rally attempt. – GBP/USD remains bearish as the RSI reading in the 4H chart failed to sustain the break above 60. With the RSI breaking back below 40, and heading towards 30, bearish momentum is being re-established. – The daily chart shows the breaking below the 200SMA after breaking below a projected support. There

http://www.fxstreet.com/technical/forex-strategy/daily-technical-update/2011-07-06.v04.html